Global Business Strategy in the Era of Uncertainty: Integrating Competitive Advantage, Regulation, and Sustainability

Abstract

This research aims to analyze global business strategies in dealing with the dynamics of world economic uncertainty by integrating normative and empirical perspectives. Normative approaches are used to examine theoretical frameworks such as Porter's competitive advantage, economic globalization, risk management, and sustainability, as well as international regulations such as WTO, FTA, and global sustainability standards. Meanwhile, the empirical approach is focused on actual trends such as the digitalization of trade, technology adoption, market diversification practices, and ESG implementation by multinational companies. The results of the analysis show that there is a gap between normative theories that emphasize innovation, regulation, and sustainability, and empirical reality that is colored by cost limitations, geopolitical uncertainty, and the risk of market fluctuations. The study confirms that the success of a global strategy is largely determined by the company's ability to adapt the theory of competitive advantage into practice, taking into account international regulations and sustainability demands. Therefore, this research contributes to providing a more comprehensive strategic framework for understanding the interaction between theory, regulation, and empirical reality in global business strategies.