Journal of Management Policies and Practices

Why Market Strategies are Necessary, but not Sufficient: Lessons for Leaders of Sovereign States
Kevin J. Lopes, Laurel R. Goulet

Abstract
Political behavior by sovereign states has often been argued in terms of market driven strategy. Political interaction between sovereign states, however, is often found in the non-market arena. In order to inform this interaction, institutional theory, political economy, relational theory, and cultural relativism are reviewed. Baron’s integrated strategy model is then expanded to integrate value frameworks at a national level. Political behavior of sovereign states is shown to be dependent on non-market strategy, emergent from its institutionalized value framework as moderated by the market strategy of the nation.

Full Text: PDF     DOI: 10.15640/jmpp.v2n4a2