Market Orientation of Public Organizations in a Transitional Economy

Thi Thuy Hang Le and Luu Duc Toan Huynh

Chapter 9 in Emerging and Evolving Business and Management Issues in Vietnam:Research and Practice, 2024, pp 283-313 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter covers the transformation of a market-oriented economy and the advancements in exchange efficiency and effectiveness crucial to a successful transition. A key characteristic of transition economies is that the market is only partially exploited as a mechanism for economic exchange. Thus, rather than being influenced primarily by market forces, corporate behavior may be significantly more affected by factors like government regulation and ownership structure. Excessive regulations that restrict competition and insufficient regulations of the operating mechanism of economic sectors according to market supply and demand characterize countries transitioning from a planned economy to a market economy. The old plan-driven economy left behind anticompetitive regulation that makes achieving economic growth targets difficult. Therefore, the government should play a role in encouraging healthy competition among businesses and supplement regulations to develop a market economy.

Keywords: Strategic Management; Environmental Uncertainty; Digital Marketing; Marketing and Digital Shift; Cultural Intelligence; Quality Measurement; Prosumption; Transitional Economy; IoT Adoption; Market Orientation; Social Investment; Productivity Growth; Fintech; New Managerialism; Financial Literacy; Digital Literacy; Personal Financial Management; Digital Financial Services; Vietnam (search for similar items in EconPapers)
JEL-codes: F23 F44 M1 M11 M16 M31 (search for similar items in EconPapers)
Date: 2024
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