Business Strategies and Market Adaptation: A Cross-Economic Perspective

Abstract

Business strategies vary across different economies and the dynamics of business environments lead to diverse approaches to strategy development and implementation. Responding to changing environments, customer preferences, and competitive pressures determines how well and sustainable markets or firms adapt. This paper provides an overview of the business strategies and market adaptation across high and low economies with case studies on the export of information and communication technology goods and foreign direct investment in both economies. The finding reveals a significant difference in information and communication technology export and foreign direct investment in different economies. Also, businesses in lower economies can compete in markets and attract foreign investors. Markets in developed economies lean toward standardization compared to their counterpart, while taking advantage of high population, innovation and diverse culture in low economies would ensure market sustainability. However, adopting mitigation strategies in both economies would help navigate bottlenecks in business establishment. JEL: I10, M10, 032