Development Studies Commons^™

Benchmarking Digitalized Innovation In Business Strategy Across Msmes, Shyam Sundar. S, Uma Raman. M, Shanmuga Priya. G, C. M. Sudha Arogya Mary

Markets, Globalization & Development Review

The contemporary globally interconnected economy is fundamentally changing international trade and opening up new prospects for businesses, particularly Micro, Small, and Medium-Sized Enterprises (MSMEs). The basic concept of global business is changing in the modern world due to the digital environment. To preserve their competitive advantage both domestically and internationally, businesses must look for new opportunities. Since the usage of digital technology is causing entrepreneurial processes to become more fluid and irregular over time and space, our research chose a conceptual approach to examine how the digitalization of MSMEs would benefit decision-makers in global organizations. Using a conceptual approach, as …

Customer Lifetime Value (Clv): A Qualitative Study From India On How Satisfaction, Relationships, Loyalty And Wom (Word-Of-Mouth) Shape Clv, Sharmistha Bhattacharyya, Mrinmoy Kumar Sarma

Markets, Globalization & Development Review

The study aims to assess the impact of non-financial measures like satisfaction, relationship-related driver, loyalty and word-of-mouth on the lifetime value of customers of small retail businesses. This work is targeted to develop a conceptual phenomenon on the impact of these drivers on customer lifetime value from the viewpoint of owners of the entities. 30 in-depth interviews are conducted. The interviews are analysed following the six-step thematic analysis method. The analysis reveals significant influence of all the four factors. It is found that the participants have their own ways of maintaining these drivers for an enhanced lifetime value. The study …

Engaging Young People In Sustainable Finance: Opening Up Opportunities For Transformation, Allison Guerette

Markets, Globalization & Development Review

The field of sustainable finance could benefit from more meaningful engagement with young people, who offer a unique perspective and have a vested interest in addressing climate change and other global issues that will shape their future. In this post-qualitative study, three young people document what they see, hear, and experience as they attend a symposium for experts on sustainable finance and environmental, social, and governance (ESG) investing. These raw tellings are used in the cocreation of a youth sustainable finance assemblage and analysis tool, which the young people then apply to the Return on Sustainable Investment (ROSI™) methodology. Relationality, …

Engaging Stakeholders To Build, Sustain, And Grow Responsible Business: Some Frameworks, Meena Raghunathan, Kara Li Liu

Markets, Globalization & Development Review

This is a follow-up Dialogue commentary to the MGDR publication:

Raghunathan, Meena and Liu, Kara Li (2024) "Moving from ‘Managing Stakeholders’ to ‘Managing for Stakeholders’: The Imperative for Responsible Business," Markets, Globalization & Development Review: Vol. 9: No. 3, Article 4.
DOI: 10.23860/MGDR-2024-09-03-04
Available at: https://digitalcommons.uri.edu/mgdr/vol9/iss3/4.

In this commentary, the concepts of stakeholder approach to management is expanded and deepened.

Import Substitution Industrialization In Africa: Guinea's Experience, Mamadou Saliou Diallo

Markets, Globalization & Development Review

Import substitution industrialization (ISI) is such a template that many countries lagging behind in terms of development considered as an essential phase. The process of adopting ISI by these countries, however, displays contrasts in many aspects. The more apparent cases of differences in ISI adoption emanate from the East-Asian and Sub-Saharan African (SSA) models. These two regions are both latecomers in that industrial revolution, compared to Latin American countries being pioneers, was a chronologically later undertaking. Despite constraining factors, the East-Asian model thrives to become a successful experience. Meanwhile, SSA and Latin American countries still strive to achieve this ambition. …

Navigating The Open-Loops: Actor Dynamics And Bottlenecks In The Transition Towards Circular Household Waste Supply Chains, Burcin Ozdamar, Aysu Göçer

Markets, Globalization & Development Review

Household waste supply chains (HWSCs) in developing countries often suffer from fragmented actor structures, weak coordination, and informal practices that limit their overall performance and circularity potential. Existing studies tend to focus on isolated aspects such as waste types, technologies, or individual actors, without systematically examining the broader network and interdependencies shaping HWSC outcomes. Addressing this gap, this study investigates the key components (e.g. actors and waste processes) and bottleneck points that hinder the structure and functioning of current HWSCs to transform into circular systems. Drawing on industrial network theory, the research analyzes how actor relationships and system configurations influence …

A Time Of Transition: Globally And At Mgdr, Nikhilesh Dholakia, Deniz Atik, Zeynep Ozdamar Ertekin, Delphine Godefroit-Winkel

Markets, Globalization & Development Review

No abstract provided.

Global Trends In Youth Employment: Key Statistics And Cultural Commentary, Anatolii Mazaraki, Tetiana Melnyk, Oksana Losheniuk

Markets, Globalization & Development Review

The issue of youth employment receives constant attention of global organizations, governments, and researchers. Young people have the potential to positively reshape the national and global economies. Furthermore, the youth also constantly reshape the social, cultural, technological, and political environments. Global unemployment rate among youth, however, is three times higher than among older workers. In 2023, one in five young people did not work, study, or acquire professional skills. The negative factors of the Ukrainian youth labor market have been significantly exacerbated by the war, which has caused an economic crisis in the country, a huge migration of young people, …

New Institutional Economics : A Few Extensions, Murali Patibandla

Markets, Globalization & Development Review

This article traces out the development of the New Institutional Economics (NIE). It delineates the literature into two interrelated themes of institutional environment and institutions of governance. The rules of the game of institutional environment determine governance choices. Inefficient institutional environment results in inefficient governance mechanisms which causes misutilization of scarce resources. Institutional environment evolves over time. This article demonstrates the evolution of institutions in response to shocks with analysis of historical examples. The prevailing literature over glorifies the colonial rule of the West for the emergence of capitalist institutions. It fails to explain success stories of Japan, Mainland China …

Moving From ‘Managing Stakeholders’ To ‘Managing For Stakeholders’: The Imperative For Responsible Business, Meena Raghunathan, Kara Li Liu

Markets, Globalization & Development Review

Gone are the days when it was accepted that shareholders were the ones for whose benefit business was done, and that the purpose of business was to maximize returns to shareholders. Today, it is universally accepted that a business has to look beyond maximizing profits. It has to take into account the needs all stakeholders, including the environment.

Several frameworks and approaches have been advocated to achieve the objective of optimizing the value of the corporation from multiple angles, including Triple Bottom Line, Responsible Business, Sustainability, Corporate Social Responsibility, etc. At the heart of all these concepts is the issue …

Institutions Matter: How So?, Alper Duman

Markets, Globalization & Development Review

This paper examines the influential theory of Daron Acemoglu, Simon Johnson, and James Robinson (AJR) on the role of institutions in economic development, highlighting its strengths, limitations, and areas for further research. A central contribution of their work is the emphasis on power and conflict in institutional formation and change.

The theory's focus on the interplay between inequality, political power, and institutional change provides a valuable framework for understanding development trajectories. This paper also considers critiques of AJR's work, including the lack of robustness of the positive correlation between inclusive institutions and economic performance in lower-income countries and the significant …

Review Of “Social Entrepreneurship In India: Quarter Idealism And A Pound Of Pragmatism” By Madhukar Shukla (2020), Meena Raghunathan

Markets, Globalization & Development Review

The article is a review of ‘Social Entrepreneurship in India: Quarter Idealism and a Pound of Pragmatism’ by Madhukar Shukla. It summarizes and offers clarification and elaboration of key concepts covered in the book. These include the definition of social entrepreneurship, the taxonomy of social entrepreneurs, what characterizes them, various forms that such organizations may take, and whether social entrepreneurs are fundamentally different from other entrepreneurs or similar in many ways.

The review points out the value of the book for those in social development, argues that the book is for India as well as of universal interest, and …

Whither India’S Development: Toward Being A Super Power Or A Super Civilization?, Pradip Khandwalla

Markets, Globalization & Development Review

This commentary was triggered by my reading a lecture delivered by Saurabh Kumar, a former student of mine at Indian Institute of Management, who later served as India’s ambassador in various countries and international bodies. He bemoaned that China had much greater status in global affairs than India. Many others in India hanker for a super power status for India. I find this concern to be somewhat misguided. India should be aiming to be a great civilization, rather than a domineering superpower. The record of all the superpowers till now has been quite spotty in humane terms. My vision for …

The Coveted ‘Developed’ Imprimatur: Twenty-First Century Prospects And Cultural Crosscurrents, Nikhilesh Dholakia, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.

Marketing, Development, And The Question Of Meaning, Dominique Bouchet

Markets, Globalization & Development Review

Originally developed as a sales technique, marketing ended up playing an economic and political role globally. With the advent of globalization and sustainability issues, the importance given to the techniques of marketing in both analyses and in communication limits the possibility of mutual understanding and of social creativity. A profound understanding of what is at stake for society and culture is not what matters when the focus is on the ways to maintain the superficial link to the instrument of power.

The market plays a central role within the fields of marketing, economics and politics. Yet, questions of what the …

Ro Khanna, Dignity In A Digital Age: Making Tech Work For All Of Us (2022), James W. Gentry

Markets, Globalization & Development Review

No abstract provided.

Markets, Businesses, And Consumption In Refugees Settlements: A Review And Future Research Trajectory, Stefanie Beninger

Markets, Globalization & Development Review

The global refugee crisis is increasing, and many refugees will end up living in refugee settlements, also known as refugee camps. These settlements have dynamic economic activities, and such activities deserve attention. This paper draws upon academic and practitioner work to describe pertinent aspects of consumption, businesses, and markets in these settlements, including in relation to multiple stakeholders. These stakeholders can include, for example, governments, aid agencies, private sector, and local community groups. Based on these insights, the paper identifies key theoretical areas in need of attention related to these economic activities in refugee settlements, including market change, resilience, and …

Consumers' Perceptions Of The Role Of The Marketing System In Subjective Well-Being, Valcir Farias, Ramon Silva Leite

Markets, Globalization & Development Review

The term happiness is used colloquially to refer to subjective well-being. In the years when the performance of marketing systems in Brazil was reduced, there was a fall in happiness index, which demonstrates the importance of marketing systems in the subjective well-being of individuals and society. Most studies on the role played by the marketing system in subjective well-being are based on mature markets. Little has been studied on the subject in Latin American markets. This article describes the role of marketing systems in the subjective well-being of Brazilian consumers. In qualitative research through interviews with consumers from cities of …

Does Microcredit Reduce Poverty? An Empirical Exploration In India, Aneel Karnani, Seema Sahai

Markets, Globalization & Development Review

Microcredit has grown dramatically over the last few decades and its supporters have made extravagant promises about its potential impact on reducing poverty. However, much recent research has shown that microcredit has no significant impact on reducing poverty. In this exploratory study we interview 205 clients of for-profit microcredit to better understand the causes of why microcredit has not lived up to its promise. We find the basic problem is that the lending policies of the microcredit organizations are designed to lower the costs and risks, and hence increase the profits of the organization, and are not responsive to the …

Consumption Behavior Of Algerians During The Period Of The Covid-19 Pandemic Crisis, Kamel Chikhi

Markets, Globalization & Development Review

This Dialogue contribution is a reflection on the impact of crises and in particular that of Covid-19 on the behavior of Algerian consumers: before, during and post-crisis. It is recognized that during crises, consumers adopt unusual and more rational behaviors: buy basic necessities; save more to deal with possible difficult situations; place more importance on nutrition, health, food quality characteristics, price, psychological and socio-demographic characteristics; have purchasing and consumption intentions based on their cultural background and prefer to adopt planned behaviors. Observed events during the Covid-19 pandemic allows us to illustrate the evolution of consumption behavior of Algerians and to …

Scaling Jobs For The Poor: Reducing Poverty Through The Impact Sourcing Bpo Approach, Aneel Karnani, Kevin Mckague

Markets, Globalization & Development Review

The best way to alleviate poverty is to increase the income of the poor by providing productive employment. A pragmatic approach is to focus on a sector of the economy that is employment intensive and growing rapidly. A good candidate is the business process outsourcing (BPO) sector. Impact sourcing is a subset of the BPO sector that focuses on reducing poverty by providing jobs to the poor. While this sounds promising, impact sourcing has not delivered on the promise, at least not yet. We illustrate our argument using in-depth case studies of three of the largest impact sourcing service providers, …