Fundamental Issues in Strategy: A Comment

David Teece has highlighted the need for business to pay attention to geo-political issues because of the urgent need for “Western” business to meet the competitive challenge of China. He highlights three major weaknesses in current strategic management research - excessive concentration on the US business system, downplaying “non-market” strategies, and ignoring culture in business decisions. Teece's analysis is too broad brush in that it ignores weaknesses in the Chinese system, imperfections in the American system and the parallels between the two. However, the focus on the wide-ranging competitive challenge from China is a welcome stimulus to improve research in strategic management.