3 Overview of the US Business System an Clark and Phil Almond INTRODUCTION ‘This study investigates the extent and nature of the ‘Americanness’ of American MNCs. In other words, it analyses which characteristics of their management practice can be traced back to their ‘embeddedness within the US NBS. In order to do this, itis necessary to establish both how and why the American business system is different from its international competitors. ‘This chapter therefore examines the distinctive and evolving character- istics of the American model of capitalism. It will follow comparative institutionalist methodologies (see Chapter 2) in emphasizing the linkages between embedded features of the US NBS through a review of its histor- ical development. Finally, it briefly examines which embedded features of the operation of US firms are most likely to be transferred to thelr foreign subsidiaries. ‘As Chapter 2 reflects, the US business system, like its British counterpart, is generally characterized within the comparative institutionalist litera- ture as a ‘compartmentalized’ system, or ‘LMR’ (Hall and Soskice 20014; Whitley 1999). The ‘arm’s-length’ coordination between economic actors In such economies is associated, in the employment sphere, with the predominance of flexible external labour markets (ELMs), weak public ‘taining systems, occupational trade unionism, and decentralized collect- ive bargaining. The dichotomy between CME and LME may weil be of utility in analys- Ing the different ways in which firms in different types of institutional systems seek to achieve competitive advantage. For the purposes of this6 Sond eras sano an re se poopprepuessaonpord oF pro ut Sumjoon SURPRU! 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Whether, and how, frms with a wellate capitalist hese mise femain distinctive in their HRM polices from unionized firme Particularly in their overseas operations, however. Xr has been argued that such systemic traits within US capitalism are Ukely to inform the behaviour of US companies abroad in + number ce eave that may be identified as ‘Americanness’. uch distinctive behaviors b Ukely to be quite robust in thet it stems ftom a profound confidence ay {he universality of American business methods encouraged by econcan ane political hegemony and from the early development of organizations) Capabilities, based on the economies of scale made possible by managerial ‘capitalism and mass production, and transferable to operations abront ‘The argument of the chapter also suggests that there is likely to be a pattern of heterogeneity, partly because the American institutional fame ors i underdetermined, allowing a greater variety of outcomes to arse, remains an empirical question, Note 1. This chapter draws extensiv. ‘ely from an earlier project working paper, Ferner 2000. 56 INTRODUC This chapter host business establishing t noting that e key aspects of tutionsin the of practices b concerning th countries pro they are char THE PROFIL All four cour American MD of the fourcor relative impe countries. Th relationship : entity in one than that of FDI are comm