Economic sanctions and international marketing: Strategic adaptation models and practices of companies
Keywords:
Economic Sanctions, Strategic Adaptation, Operational Efficiency, Risk ManagementAbstract
Economic sanctions are a strategic mechanism used by states as a foreign policy instrument. Sanctions disrupt the trade relations of the target countries, have a negative impact on corporate activities and force companies to develop new strategies for crisis management. The study examines the adaptation processes of companies to sanctions, focusing on topics such as operational efficiency, resource management, legal resilience and flexibility. In addition, methods for overcoming sanctions, such as innovation, strategic partnerships and customer-oriented approaches, are discussed.
Companies have developed methods to mitigate the impact of sanctions. These include optimizing operational processes, diversifying supply chains, entering new markets and implementing risk management strategies. The importance of flexible and innovative strategies for dealing with international sanctions is expected to increase in the future. The study looks at the economic and commercial impact of sanctions while offering recommendations for companies to achieve sustainable growth. Strategic adaptation efforts are crucial for companies to maintain their competitive advantage in global markets.
Downloads
References
Afesorgbor, Sylvanus Kwaku, and Renuka Mahadevan. 2016. “The Impact of Economic Sanctions on Income Inequality of Target States.” World Development 83(January):1–11.
Agnew, John A. 2005. Hegemony. Philadelphia: Temple University Press.
Alexander, Kern. 2009. Economic Sanctions, Law and Public Policy. New York: Palgrave Macmillan.
Baldwin, David A. 1999. “The Sanctions Debate and the Logic of Choice.” International Security 24(3):80–107.
Baldwin, David A., and Robert A. Pape. 1998. “Evaluating Economic.” International Security 23(2):189–98.
Barber, James. 1979. “Economic Sanctions As a Policy Instrument.” International Affairs (Royal Institute of International Affairs) 55(3):367–84.
Cameron, Fraser. 2005. US Foreign Policy after the Cold War. Second. New York: Routledge.
Caruso, Raul. 2003. “The Impact of International Economic Sanctions on Trade: An Empirical Analysis.” Peace Economics, Peace Science and Public Policy 9(2):1–34.
Congressional Budget Office. 1999. The Domestic Costs of Sanctions on Foreign Commerce: Congressional Budget Office. Washington D.C.
Crozet, Matthieu, Julian Hinz, Amrei Stammann, and Joschka Wanner. 2021. “Worth the Pain? Firms’ Exporting Behaviour to Countries under Sanctions.” European Economic Review 134:1–32.
Çevik, Veli Ahmet. 2023. “Ekonomik Yaptırımlar ve Uluslararası Ticaretin Silahlaştırılması: Küresel Aktörlerden Örnekler.” Akdeniz Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 23(2):219–35.
Davis, Lance, and Stanley Engerman. 2003. “Sanctions: Neither War nor Peace.” Journal of Economic Perspectives 17(Spring):187–97.
Dobson, Alan P. 2002. US Economic Statecraft for Survival 1933 – 1991. London: Routledge.
Doxey, Margaret P. 1980. Economic Sanctions And International Enforcement. Second. London: Macmiilan Press.
Early, Bryan R. 2012. “Alliances and Trade with Sanctioned States: A Study of U.S. Economic Sanctions, 1950-2000.” Journal of Conflict Resolution 56(3):547–72.
Hafner-Burton, Emilie M., and Heidi M. McNamara. 2019. “United States Human Rights Policy: The Corporate Lobby.” Human Rights Quarterly 41(1):115–42.
Hufbauer, Gary Clyde, Jeffrey J. Schott, Kimberly Ann Elliott, and Barbara Oegg. 2007. Economic Sanctions Reconsidered. Third. Washington: Peterson Institute For International Economics.
Jentleson, Bruce W. 2000. “Economic Sanctions and Post-Cold War Conflicts: Challenges for Theory and Policy.” Pp. 123–77 in International Conflict Resolution After the Cold War, edited by P. C. Stern and D. Druckman. Washington: National Academies Press.
Jentleson, Bruce W. 2010. American Foreign Policy: The Dynamics Of Choice in The 21st Century. Fourth. New York: W. W. Norton & Company.
Kaempfer, William H., and Anton D. Lowenberg. 2007. “The Political Economy of Economic Sanctions.” Pp. 867–911 in Handbook of Defense Economics. Vol. 2, edited by T. Sandler and K. Hartley. Amsterdam: Elsevier B.V.
Kirshner, Jonathan. 1997. “The Microfoundations of Economic Sanctions.” Security Studies 6(3):32–64.
Kuvalin, D. B., and Yu A. Shcherbanin. 2023. “The Adaptation Of Russian Regions’ Economies To The Rupture Of Relations With Europe: The Case of Baltic Sea Ports.” Baltic Region 15(4):62–78.
Lake, Anthony. 1994. “Confronting Backlash States.” Foreign Affairs 73(2):45.
Lages, Luis Filipe, Jose Mata, and David A. Griffith. 2013. “Change in International Market Strategy as a Reaction to Performance Decline.” Journal of Business Research 66(12):2600–2611.
Marks, Stephen P. 1999. “Economic Sanctions as Human Rights Violations: Reconciling Political and Public Health Imperatives.” American Journal of Public Health 89(10):1509–13.
Morgan, Neil A., Hui Feng, and Kimberly A. Whitler. 2017. Marketing Capabilities In International Marketing.
Neuenkirch, Matthias, and Florian Neumeier. 2015. “The Impact of UN and US Economic Sanctions on GDP Growth.” European Journal of Political Economy 40:110–25.
Nossal, Kim Richard. 1989. “International Sanctions as International Punishment.” International Organization 43(2):301–22.
Posey, Kristen Boyd, Deborah Yarborough Layden, and Barbara L. Neuby. 2009. “Word of Mouth Marketing and International Adoption Agencies.” International Review on Public and Nonprofit Marketing 6(2):137–49.
Rana, Sudhir, Sanjeev Prashar, Munim Kumar Barai, and Abu Bakar Abdul Hamid. 2021. “Determinants of International Marketing Strategy for Emerging Market Multinationals.” International Journal of Emerging Markets 16(2):154–78.
Rodman, Kenneth A. 1995. “Sanctions at Bay? Hegemonic Decline, Multinational Corporations, and U.S. Economic Sanctions since the Pipeline Case.” International Organization 49(1):105–37.
Shama, Avraham. 2005. “An Empirical Study of the International Marketing Strategies of E-Commerce Companies.” Thunderbird International Business Review 47(6):695–709.
Solberg, Carl Arthur, and François Durrieu. 2008. “Strategy Development in International Markets: A Two Tier Approach.” International Marketing Review 25(5):520–43.
Solberg, Carl Arthur, and François Durrieu. 2023. “Patterns of International Marketing Strategy.” Journal of Business and Industrial Marketing 38(7):1532–44.
Smeets, Maarten. 2018a. “Can Economic Sanctions Be Effective?” WTO Staff Working Paper March(ERSD-2018-03):2–19.
Smeets, Maarten. 2018b. “Staff Working Paper: Can Economic Sanctions Be Effective?” (March):1–19.
Taffet, Jeffrey. 2021. “The Alliance for Progress in the Late 1960s: The Slow Fade to Irrelevance.” Foreign Aid as Foreign Policy 195–214. doi: 10.4324/9780203941874-12.
Tanasiichuk, Alona, Svitlana Kovalchuk, Oleksandr Nepochatenko, Oksana Froter, Eduard Kovtun, and Anastasiia Abdullaieva. 2023. “International Marketing Strategies for Sustainable Development of Enterprises.” European Journal of Sustainable Development 12(4):513–32.
Tostensen, Arne, and Beate Bull. 2002. “Are Smart Sanctions Feasible?” World Politics 54(3):373–403.
Wallensteen, Peter. 2013. “A Century of Economic Sanctions: A Field Revisited.” Peace Research: Theory and Practice (1):183–205.
Watson, George F., Scott Weaven, Helen Perkins, Deepak Sardana, and Robert W. Palmatier. 2018. “International Market Entry Strategies: Relational, Digital, and Hybrid Approaches.” Journal of Marketing 26(1):30–60.
Whang, Taehee. 2011. “Playing to the Home Crowd? Symbolic Use of Economic Sanctions in the United States.” International Studies Quarterly 55(3):787–801.
Wu, Chih Wen. 2016. “The International Marketing Strategy Modeling of Leisure Farm.” Journal of Business Research 69(4):1–7.
Yang, Jiawen, Hossein Askari, John Forrer, and Lili Zhu. 2009. “How Do US Economic Sanctions Affect EU’s Trade with Target Countries?” World Economy 32(8):1223–44.
Yang, Man. 2018. “International Entrepreneurial Marketing Strategies of MNCs: Bricolage as Practiced by Marketing Managers.” International Business Review 27(5):1–13.
