Four Main Debates in the Field of Global Strategy by Peng and Essay

Four Main Debates in the Field of Global Strategy by Peng and Pleggenkuhle-Miles - Essay Example It is evidently clear from the discussion that global strategy has been popularly understood to refer to the strategic guidance of any organization as the organization seeks to pursue different geographic markets. However, the fact that the definition is not clear as regards to what extent a global strategy should address has generated a heated debate. The paper, Current Debates in Global Strategy provides a unique review of the four current debates as regards global strategy. The four debates are cultural vs. institutional distance, global vs. regional geographic diversification, convergence vs. divergence in corporate governance and lastly domestic vs. overseas corporate social responsibility which are all widely believed to be connected to the institution-based view of global strategy. Peng and Pleggenkuhle-Miles track down the history of each debate while also highlighting the emerging tension of each debate. On the other hand, globalization has transformed and currently is mainl y characterized by its growing interdependency between countries and continues to be multi-faceted with various different business aspects. Peng and Pleggenkuhle-Miles give focus on the four debates informed by the belief that in order to properly analyze literature on global strategy, we have to first pick debates that are fairly distinct from one another. Additionally, a historical aspect was taken into consideration through identification of debates with varying timelines. In understanding the four debates, it is important that we understand the authors perceive global strategy as the strategy employed by firms, both international and domestic around the globe in a bid to compete successfully which in other words imply that their view is based on their belief that global strategy is to a large extent closely lies between strategic management and international business.