This article complements a previous article on government-controlled enterprises. It examines the struggles, bargains, compromises and foul-ups between those influential players who determine these companies' decisions and actions. The strategy of such firms is seen as a political resultant: to...

Established routines, bureaucratic procedures, and inertia often constrain a firm's strategic behavior. Understanding the strategic decision‐making process can help your company close the gap between what it plans and what it actually does.

A liberal, open, competitive, market‐oriented economy, with all its variations, is an eminently better strategy for economic progress than its alternative, the state‐managed economic system. This thesis is seemingly simple yet so complex for economic policymakers to understand.