The Globalization of Business and the Middle East: Opportunities and Constraints

The globalization of world markets has had its impact on the Middle East as on the rest of the world. In the last quarter century, non-oil international business activities in the region have increased significantly. The Middle East is now properly poised, with the necessary elements in place, to develop into an industrial region similar to the more developed West. International firms will need to pay greater attention and develop a deeper understanding of this region so vital to the economic and industrial well-being of Western, industrialized, and emerging nations. This book examines the development of the region's business environment and the conditions that uniquely impact its growth. It offers a unique perspective on select issues such as regional integration among Arab states on the Persian Gulf or within the Economic Cooperation Organization surrounding the Caspian Sea. It includes a look at Islamic management, human resource, banking, marketing, and advertising practices. Islam is no longer considered to be incompatible with technology and modernity. It remains, along with its traditions, a primary organizing principle in the region. Outside investors and firms need to be informed about the connection and Islam's internal tensions and variations in order to operate effectively in the region. This book offers the reader a firm understanding of these issues. It also points out areas that need to be further explored. Designed for scholars of international business, this book will also appeal to practitioners seeking a better understanding of this increasingly vital area of world business.