Abstract
This paper discusses the theories that explain the manner in which businesses execute their strategies and outlines the process of adopting measures that increase performances in international business. The paper outlines the application of the resource-based view and the industry based view. Then, it relates the application of the institution based theory as proposed by Peng, Jiang, and Wang (2008). The institution-based view forms the third leg of the tripod evaluation in examining international trade. The combination of the resource-based perspective, the industry-based perspective, and the institution-based perspective forms an essential tripod strategy to determine the performance and strategy ...