Summary Synthesis (What)
Leadership can be exercised in a different approach, and the international scope, coercion; persuasion or diplomacy can be applied in creating a pattern of order. In the global market, asymmetrical cooperation is required since differing nations are involved. Harmony and unity can be created through hegemonic leadership in accounting when the international regimes are being created. The partnership has to include the political cooperation of the countries that will be involved in the case. The economic interaction helps in achieving a free market and optimal results (Keohane). Hegemony helps in creating international regimes, through the political variability causes hardships in maintaining it, thus affecting how global market is carried out.
Analysis (How?)
"After Hegemony" will help get an understanding of how cooperation and discord can be maintained in the world political economy (Keohane). The nations which will be involved in the international market have to be in harmony, both politically and economically, for business transactions to be conducted. In harmony, each party participates by ensuring that can achieve their interests by promoting the interests of the other party. When the balance is created in the market, a competitive environment is created as each party tries to outdo the other. With harmony, there is no need for creation of cooperation since everyone is aware of their role and promote it for the benefit they are getting. In cooperation, it may be a situation created due to some factors, which means one party may end up being exploited for the other group to benefit.
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Analysis (With what effect?)
The application of the cooperation, harmony, and discord can be used in explaining how the international market is made up. When two nations are united in the political sense, it is easy for harmony to be created between them. The two parties can create favorable conditions and exchange what they require without issues since each requires benefiting. When two nations are in discord, cooperation is necessary for an international business to be carried out. One country may be forced to follow certain conditions for the transaction to be carried out. Since there is no agreement between the two, one party may be forced to cooperate so that the business can be conducted.
Critique (How effective?)
I believe that Keohane has illustrated “After Hegemony” in a way that is easy to understand how the international market is composed and understood. The work is separated into parts, starting with how two or more nations form business relationships, whether through cooperation or harmony. The making of rational choices in international business is made, where functional explanations are done, for a business relationship to be formed. The limitations which exist during decision making are also analyzed such as ethical requirements, information which is crucial for nations planning to join the international market (Evans, 1993). The information provided in the article can be used when making marketing decision and choosing countries to engage in business with.
Commentary (Positive)
The author should be looking for more researches on the international market, such as the nation which is required to adjust in case of economic changes during the business contract (Simmons, 1997). More information on how the domestic politics affect international market should be studied to determine influencing factors and which approach of hegemony leadership can be formed. However, has information has helped in understanding how international relations are made between countries.
References
Evans, P. B. (1993). Double-edged diplomacy: International Bargaining and domestic politics. Berkeley u.a: Univ. of Calif. Press.
Keohane, R. (n.d.). After Hegemony: Cooperation and Discord in the World Political Economy. Cooperation, in Theory, 49-93.
Simmons, B. A. (1997). Who adjusts?: Domestic sources of foreign economic policy during the interwar years. Princeton, N.J. : Princeton University Press.
