Information on Non-markets as the Key to Win Global Markets
Baron examines the nonmarket (e.g., political, social, legal) environment faced by businesses. After reading the chapter, please take a few sentences to respond to one question (identify which).
Baron suggests that a business needs different skills in its market and nonmarket environments. What companies or managers do you see having better skills in each area, and what skills?
Baron says “[Some] companies underappreciated the importance of the nonmarket environment and have paid a price...” Is a negative nonmarket consequence necessarily evidence that a company under-examined its nonmarket environment? Give an example.
Under the issue “Gasoline Tax,” the CEO of General Motors advocated for a gas tax instead of fuel economy (mpg) standards. Why might he have done this?
Baron notes “The nonmarket environment also includes nongovernmental institutions such as the news media, social media, and public sentiment.” What new non-market strategies have companies adopted with the rise of social media? Have these been effective in your opinion?
Information is a key part of the nonmarket environment. How can a company use information (or misinformation) to its advantage?
Information on Non-markets as the Key to Win Global Markets
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Market and Politics
A nonmarket environment is typically the interaction between companies and individuals that private institutions do not control (Voinea & Van, 2017). As a result, the nonmarket environment has tremendous pressure on both local and global ventures. The goal of this paper is to examine the significance of information in a nonmarket environment.
Information is a Key Part of the Nonmarket Environment. How can a Company use Information (or misinformation) to its Advantage?
Information is crucial to the development of nonmarkets, and it is equally impossible for private institutions to flourish in foreign markets without information. Therefore, most companies across the globe evaluate and analyze information to understand market trends (Voinea & Van, 2017). Through the information gathered, entrepreneurs can understand nonmarket issues and how to counter the challenges. Nonmarket problems can result from policy implementation by the government and political friction across the...
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