This is the first book to comprehensively summarize and extend cutting strategy research with a focus on transition economies. It provides a readable and refreshing overview for seasoned scholars and executives working in this field, as well as valuable insights for newcomers. The book combines theoretical rigor with up-to-date evidence on a highly relevant topic. Mike Peng is already one of the world's leading strategy and management scholars working on transition and emerging economies, and this book adds significantly to his standing. -John Child, Guiness Professor of Management Studies, University of Cambridge, England and Visiting Professor of International Management, Tel-Aviv University, Israel The widespread shift from centrally planned to market-based economies has been the most profound change in the world economy since World War II. While a great deal of work has examined the broad economic implications of this transition, far less work has examined its implications for firms and managers. In this seminal work, Professor Peng draws on his extensive experience in transition economics, together with his knowledge of strategic management, to describe how firms in these economies can seize opportunities for growth and success. -Jay Barney, Bank One Professor of Corporate Strategy, Ohio State University A welcome contribution towards our understanding of firm - level issues in transition economies. A particular strength is the chapter-by-chapter consideration of how strategies vary depending on whether one is a state-owned enterprise, a privatized firm, an entrepreneurial start-up, or a foreign investor. -Paul Beamish, Royal Bank Professor of International Business,University of Western Ontario, Canada A comprehensive account of transition economies from a firm strategy perspective. Thoroughly researched and thought provoking, this book is a most valuable tool for both academics and business executives seeking to operate in this promising yet uncertain territory. -Oded Shenkar, Ford Motor Professor of Global Management, Ohio State University and Professor of International Management and Tel-Aviv University, Israel Business Strategies in Transition Economies probes into the workings of business strategies in former socialist countries in East Asia, Central and Eastern Europe, and the newly independent states of the former Soviet Union, which are collectively called transition economies. It provides a rich and in-depth understanding of fundamental strategic issues confronted by domestic and foreign firms competing in these newly opened markets. Written by one of the leading scholars in the field, this timely book is comparative, interdisciplinary, and relevant. Focusing on firm-level issues confronting top executives acting as organizational strategists in transition economies, this book covers business strategies of 1.) state-owned enterprises, 2.) privatized and reformed firms, 3.) entrepreneurial start-ups, and 4.) foreign companies. Since transition economies, taken together, promise to be the world's largest emerging markets in the 21st century, this book will be an invaluable resource for students, scholars, and managers seeking a better understanding of business challenges and opportunities in these markets.