ABSTRACT
Recent literature on comparative business studies indicates a drift in consensus from the notion of the universality of business development theories to the recognition of a wide variety of successful business development “recipes” throughout the world. It is now recognized that institutional structures, such as political systems of authority and coordination, patterns of dependence, and the foundations of social identities, combine with physical infrastructural systems to shape the pattern of business development in every country (Hamilton and Biggart, 1988; Whitley, 1992,1994).
