International Political Economy Essay Example | Topics and Well Written Essays - 4000 words - 1

International Political Economy - Essay Example International political became known as a focal point of study in the 1960s. This was sparked by the drastic advancement of the international economy following interests in global politics. The already set and developing field drew upon diverse sources including history and economics (Biersteker, 1993). This is in addition to international relations thereby manifesting the field as a disciplinary promiscuity that remains a feature up to date. An element of ancient international political economy that has not stood the test of time is the engagement that intertwined the extensive invisible college of initiating scholars. As this imperceptible school of thought untangled, two types of international political economy emerged. Even though their range partly related, one type is predominant in the United States and the other in the United Kingdom and Canada. The prime type in the United States is the rationalist. Consequently, inter-relationships between the states are their focal areas o f concern. Furthermore, they have evolved sharply and revolutionalized formal models and dominant operatives that assist them to survive competitive interstate complexities (Palan, 2000). In this way, rationalists depict these states as the greatest beneficiaries in acquiring incentives for international collaboration. Insatiable for data and inclined towards solving problems, rationalists devote much of their energy to theoretical deliberations as to empirical work. A majority are fond of assumptions that relate to the role of domination in stabilizing international economy. Additionally, they are used to creating up framework of governing institutions, an inclination that may derive from their supremacy features. On the contrary, scholars of the diverse critical aspect in international political economy are dominant in the United Kingdom and Canada. These scholars spend much of their energy unearthing the concealed workings of hegemony, both the global

Improving Decision Making in the Coca-Cola Company Case Study

Improving Decision Making in the Coca-Cola Company - Case Study Example The experience of Coca-Cola which is discussed above has become a classic marketing tale documenting the mistakes that managers can make in their decision-making process. The failure of Coca-Cola can be largely attributed to two factors namely, narrow definition of its marketing research problem and poor judgment in interpreting the research planning strategies around it (Kotler and Armstrong 2001). The experience of Coca-Cola which is discussed above has become a classic marketing tale documenting the mistakes that managers can make in their decision-making process. The failure of Coca-Cola can be largely attributed to two factors namely, narrow definition of its marketing research problem and poor judgment in interpreting the research planning strategies around it (Kotler and Armstrong 2001). Managers became narrow-minded and myopic in diagnosing the problem that Coca-Cola was facing. Instead of looking at all the factors which may be influencing the buyers in their purchases, thes e managers only look at the taste of the product. Their research has focused only at the taste ignoring the customers’ feelings about dropping the product. It turned out that Coke’s symbolic meaning in the United States is more important than taste. Coca-Cola’s managers also failed to use wise judgment in the introduction of New Coke. Even though their decision of dropping the old Coke is warranted by the 60% acceptance rate of the new formula, they did not anticipate that the 40% might still like the old Coke better.  Conclusion Decision-making process must not be too narrow to overlook some of the important factors and details. As the situation of Coca-Cola shows us, managers should always avoid hasty generalizations and marketing myopia. In the business environment, decisions should always be grounded on all the factors affecting performance. Focusing on one aspect only will yield a one-sided and inadequate decision.