INTERDISCIPLINARY ACADEMIC
FORMULATION OF INTERNATIONAL
DEVELOPMENT BUSINESS MANAGEMENT FOR
THE DEVELOPING WORLD
Masatoshi HARA1,
1Member of SGB, Research Associate, Kenichi Ohmae Graduate School of Business(Koujimachi Square Building 1F, 3 Niban-cho, Chiyoda-ku, Tokyo, 102-0084, Japan)
E-mail: masah6841@gmail.com

This study focuses on the theoretical formulation of a new academic discipline, so-called “International
Development Business Management (IDBM)” interdisciplinary and practically for helping promote further
development in the developing world. Specifically, two representative academic disciplines of International
Development and Business Management can synergistically be combined, because of the inextricably related to each other in social sciences.
Principally, International Development covers several types of social sciences, including politics, economics, and sociology. In particular, Development Economics has been centered in International Development, academically and practically having played a role in forming theoretical frameworks via analysis ofdevelopment issues and public policies, primarily in the undeveloped nations. On the other hand, International Business Management focuses on how to keep business growing and profitable through organizational vision, mission, and business strategy under international environment.
The most essential part of this study is to envisage how to develop the new academic discipline scholarly
and practically. In reviewing literature quickly, a Japanese academic scholar, Hayashi, has attempted at theachievement of formulation of “Development Business Management (in Japanese, “Kaihatsu-Keigigaku”)”
through his study of Base of Pyramid (BOP) Strategy in several Asian economies, including the Philippines
and Bangladesh. Still, his study can further be developed from different aspects. Remarkably, under the
rapidly changing environment, several perspectives can be added, including business development strategy
per income stage, economic development policy, and industrial and technological development.
Using the Grounded Theory Model to demonstrate the IDBM framework to be justified resulted in thatthe business management can be connected with economic development along with the income stage classified by low-income, low-er-middle income, and higher-middle income levels, aiming at poverty reduction
through the imple-mentation of business activities. Still, the plenty of essential parts for realizing the IDBM
are left for further study to maximize the potentials of this academic discipline independently.
Key Words : International Development Business Management, Developing Countries, Interdisciplinary
Academic Formulation, Income Level, Strategies

1. BACKGROUND

Under the situation, promoting socio-economic development through poverty reduction for the SDGs
should further be promoted even under the pandemic
since early 2020 (WHO, 2022).
The business opportunities have made it possible
for nations to promote economic growth and increase
the individual incomes. Remarkably, industrialization has been one of the key essences in promoting
economic development. Indeed, East Asian economies, notably Japan. South korea, Taiwan, and China,
have realized economic development through economic development during 1950s to 1980s (Lewin
and Caillods, 2001). Remarakbaky, human resouorce

While the world economy has dramatically advanced since World War II, many economies havestruggled for growth, prosperity, and development.
Previous studies by other researchers have signified
the Sustainable Development Goals (SDGs) realization in developing countries to be one of the world's
most significant social problems (UN, 2018). Remarkably, developing countries have faced a higher
poverty rate with the lower income status as one of
the most serious social issues (World Bank, 2022).
1

group as Successful Group (S/G) and the latter as
Failure Group (F/P) in development, Otsuka (2020)
emphasized that the industrial factors, notably industrialization, business opportunities, and entrepreneurship, enabled the S/G to be able to realize further development, especially in increasing the national income level.

management and organizational development has
been signified as one of the most important aspects inmaximizing producitivity in work-sites. The recent
trend to promote the SDGs is that the development
sectors have attempted to reduce poverty by employing their business products and services, especiallywith inclusive business, fair-trade, corporate social
responsibility (CSR) internationally.
Simply put, the discipline of socio-economic developemtent should be intricably inter-linked to thebusiness management for improving national/individual income and organizational productivity in thelong run, especially in the developing world. Though,economic study and business study are inter-linked in
the field of social sciences, the practice in combining
these academic disciplines has never been attempted.
Based on the social and academic background, thisstudy focuses on the theoretical formulation of a newacademic discipline, so-called “Inter-national Development Business Management” interdisciplinary andpractically for helping promote further developmentin the developing world by referring to the review ofexisting studied and previous frameworks of analyses
It is evident that addrrssing a new formulation
through combination of two different types of academic disciplines should be signified from the aspectof both academic and practical contribution to thereal world.

Table 1 The Trend of GNI per capita per Region

Region/Year
2000
2012
2021
East Asia
3,870
9,137 12,740
Japan 36,810
50,060 42,620
Republic of Korea 11,030
25,660 34,980
China
940
5,910 11,890
Hong Kong 26,930
36,340 54,450
ASEAN
3,552
8,784 10,972
Singapore 23,680
51,710 64,010
Thailand
1,980
5,520 7,260
Malyasis
3,460
10,180 10,930
Indonesia
580
3,580 4,140
The Philippines
1,180
2,860 3,640
Vietnam380
1,970 3,560
Myanmer
130
990 1,140
Lao PDR280
1,370 2,520
Cambodia
300
880 1,550
South Asia
445
1,390 2,104
Bangladesh
440
970 2,620
India
440
1,480 2,170
Europe12,57825,379 26,421
The United Kingdom 29,280
41,940 45,380
Latin America
4,155
9,782 8,024
North America
34,65952,633 68,152
The United States 35,960
52,790 70,430
Sub-Saharan Africa
581
1,729 1,578
Kenya
410
1,050 2,010
Zambia330
16,900 1,040
World
5,522
10,540 12,070
Source: World Development Indicators (2022)

2. REVIEW OF LITERATURE
The literature review in this paper is composed offour items, and an identification of study gaps will beshown as follows.
(1) Review of Literature
The literature review here is composed of several
parts as follows.
a) Development Status in the Developing World
There is a wide variety of statistic information relevant to the development status in the developingworld. When it comes to the statistic records, theWorld Development Indicators (WDI) would be oneof the representative statistic data. One simple example that demonstrates the national economic status is
the income. Gross National Income (GNI) per capita
is one of the most recognized indicators to show theindividual income status per country. Table 1 summarizes the trend of GNI per capita per region andeconomy from 2000 to 2021. Obviously, it can easuly
be observed that there has been a huge difference in
GNI per capita between one group of East Asia, Europe, and North America and the other group ofSouth Asia, Latin America, and sub-Saharan Africa
over the past 21 years. Given that we call the formerb) International Development Studies
Based on the development status shown in Table
1, the primary purpose of the International Development Studies (IDS) is interdisciplinarily designed tocontribute to further development, growth, and prosperity in the developing world by analyzing policies
and institutions per economy quantitively and qualitatively and establishing development strategies(Otsuka, 2020). Interestingly, Otsubo et al. (2009)
stated that the IDS is composed of several academic
desciplines; Development Economics, Development
Policitcs, and Development Sociology cover the international development issues in the world, including poverty, economic growth, governance, international relations, education, medical health, agriculture, disaster risk, water resource, climate change,
environment, industrialization, etc. One reason for2

ment (IBM) was designed to address business practice for the purpose of systematically learning how to
run the business with the deeper understanding ofcompetitiveness superiority and business environment. The IBM aims at deeper understanding of entrepreneur management covering business strategy,
marketing, finance, leadership, and human resource
management, as well as global economies includinginternational economics, industrial economics, public economics from the global aspect, notably by focusing on the international-multiple organizations inadvanced economies, as well as in emerging economies, such as Brazil, Russia, India, China, and theother economies.
Based on the basic academic aim, strategic management has been primarily disciplined in this academic field through several analytical frameworks.
Representatively, Porter’s industrial structural analysis, internal and external environmental analyses,
SWOT analysis, and VRIO analysis, etc. have beensignified in learning the IBM (Kotosaka, 2017).
The ultimate goal of the IBM would, therefore, bethat we shold learn the wide variety of aspects ofbusiness management for maximizing the organizational benefits under the specfici market throughstrategies/ strategic management. For the realization,
learners also need to study economies, including
business economics, international economics, andpubic economics. While economics pursues the way
to maximize the output with the minimum resource
nationally or regionally, business management focuses on how to maximize the organizational output
individually (Enatsu, 2004). Despite the contradicting directions of these two academic disciplines, it isinteresting to see that the recent trend of the IBM has
paid attention to the development of the businessstrategy designed for the SDGs, the so-called “SDGs
Business” introduced in Europe since 2015 (JETRO,
2022). In a word, the IBM also pursue the incorporation of the contribution to improvement in sustainability.

this is that economics can easily be interlined with theother academic disciplines, including politics, sociplogy, psychology, engineering, anthrology, etc.
(Otuska, 2020).
Amartya Sen (1999), who is a Nobel Laureate inEconomics in 1998, made a clear definition of “development” in his work that people, especially inpoor countries, should improve their capabilities toexpand their ways of lives, emphasizing the significance of basic education and medical health. His concept “capability approach” has made it possible for
IDS to pave the way for generating a new concept of“Human Development,” and established the statistic
approach of “Human Development Index (HDI)” by
UNDP available to see the human development stage
by using three statistics of GNI per capita, life expectancy, and secondary educational completion rate
(UNDP, 2022). In such a way, there was a greater
milestone in Development Economics.
Development Economics is expected to be centered to address and analyze the said development issues. Remarkably, the scholars have been concernedwith how to increase income level per capita or how
to decrease poverty reduction. One major point in addressing economic development issue is income
stage. The World Bank (2022) estimated the four income stages; Low-income (less than US$1,045),
Lower-middle Income (US$1,046 to 4,095), Highermiddle Income (US$4,096 to 12,695), and High Income (over US$12,696). The classification of all the
economies into the four income stages has made it
possible for the expertises and scholars to establish
the development strategies. Indeed, the concept of“Middle-Income Trap” named by Gill and Kharas(2017) has been referred to as the status of the incapable economies to overcome the middle-income
stage in the world, especially congregated in ASEAN
and Latin America. The three stages of Low-income,Lower-middle income, and Higher-middle income
economies can presumably be called “developing
couries,” while Rosling (2018) suggested that it does
not make any sense to classify into two groups of“Advanced Countries” and “Developing Countries,”while, instead, classifying into four groups by income
stage in his work, “Factfulness”. Bill Gates also infavor of supporting his idea that the world is not as
apocalyptic as we might think (Brueck, 2018).
In these respects, the IDS, notably Development
Economics, has addressed the development issues inthe developing world, notably from the aspect of income level and poverty reduction, primarily with theuse of theoretical frameworks.

d) Development Business Management
Under the recent trend of the IBM, Hayashi (2016)has attempted at the formulation of a new academic
discipline called “Development Business Management (DBM)” in Japanese “Kaihatsu-Keieigaku” inhis work. When it comes to “development” in business management, one of the most representative academic fields is “Human Resource Development(HRD)” or “Leadership Development (LD)” to optimize the human resource arrangement and promoteleadership for maximizing the organizational outcome (Joy-Matthiews et al., 2004). However, unlike
the HRD, according to his study, the DBM is focusing on how to promote the Base of the Pyramidc) International Business Management
On the other hand, International Business Manage3

be created as a new academic discpline. There should
be some more case studies from other regions, especially ASEAN, South Asia, and sub-Saharan Africa
for conceptualizing the DBM academically and practically through the improvement in generalizability
and removal of the regional peculiarity.
Fourthly, Hayashi used the case study of the Philippines for his work, while the organizational contribution to poverty issue in the Philippines was notseemingly identified. In the case of the DBM, the organizational contribution to the socio-economic issue
should further be studied for verification, because theorganizational behavior can be one of the key factors
predicting poverty reduction. Nevertheless, there wasno study result of it, at least, in Hayashi’s study.
Fifthly, in Hayashi’s work, he focused on theNGOs activity for poverty reduction, while private
sector analysis was not that sufficient. Obviously, therecent trend of the SDGs can further be promoted byprivate sectors, as well as public sectors. Indeed, theBOP business has primarily been done by the private
sectors in many parts of the world. In this way, private sector examples and analysis should further becollected.
Finally, the histrocialy and cultural perspectives
need to be considered for incorporation into theDBM. Despite the simple classification into four income stages as mentioned earlier, the different backgrounds of economic and business development were
found in each country. In this way, it would be themost challenging to include historical and culturalparts, but still rewarding process to pave the way forthe formulation of the IDBM with the scales of regions and nations, respectively.

(BOP) in the developing world. Specifically, He clarified poverty reduction of the BOP that comprises ofthe bottom of income structure in emerging economies from the perspextives of emerging market characteristics and business strategies. His study concern
was that it was typical that poverty issue has been addressed and analyzed from the academic discpline of“Development Economics,” while he analyzed poverty issue by using the examples of the Philippines
mainly, ultimately with the aim of formulation of theDBM.
(2) Identification of Study Gaps
In reviewing the existing studies relevant to International Development Studies and International
Business Management, much less research on the attempts at combining these two academic disciplines
were identified. Admittedly, Hayashi (2016) was previusly working on the formulation of the “Development Business Management” from the aspect of the
BOP business. His vision and skepticity of approaching poverty issue from the aspect of Business Management could strike a chord with me. Nevertheless,there seem to be some rooms for revision in further
developing the academic discipline designed for how
to promote economic development and business development. Here are the possible study gaps identified through the literature review.
Firstly, there was not an entire framework of poverty reduction through business development theoretically or conceptually in Hayashi’s former study.
When it comes to the development issues, it would beindispensable for the scholars to create theoretical orconceptual frameworks relevant to the development
strategies in the developing world (Otsuka, 2020). In
this way, the formulation of the development strategy
to promote poverty reduction through businessshould be needed.
Secondly, Hayashi (2016) aimed at poverty reduction through the formulation of the DBM, while theother indicators can be further useful in accelerating
further development in the developing world. As
shown in the literature review, the GNI per capita canbe one of the most representative indicators used andpaid attention to by the development officals, including public sectors, private sectors, and other non-government organizations. Also, though poverty ratio isstill available, but the row data is not that enough, due
primarily to the lacking data from the web-resources.
In this way, it would be more beneficial to utilize theother indicators, such as GNI per capita, GDP per
capita, or HDI, and aiming at the realization of thesocio-economic development in the long run.
Thirdly, in Hayshi’s study, only a few case studiesof the Philippine, as well as of the Bangladesh, were
employed. It might not be sufficient for the DBM to

3. OBJECTIVES AND RESEARCHQUESTIONS(1) Objective
The primary purpose of this study is to contributeto further development, growth, and prosperity in thedeveloping world through the formulation of an independent academic discipline of International Development Business Management,” primarily comprising of International Development and Business Management academically and practically as the firststep.
(2) Research Question
Despite seven study gaps identified through literature review above and research objectives, it would
be appropriate for me to show the simpliest but mostsignificant part of the gaps, I came up with one potnetial research question as follows.
4

The SMF can help the organizational leaders consider their strategies comprehensively.
Finally, in talking about the business development
for poverty reduction, Hara (2021) hypotheticallycreated his Business Development Strategy per income level, which is related to BOP business, especially for poor economies in several regions, including South Asia and Sub-Saharan Africa. Specifically,
the framework can help visually to show the roadmap
of poverty reduction per income stage by indicating
which development issues should be addressed andwhich BOP stage should be focused on appropriately(Hara, 2021). More significantly, he explained thatfive sequences were arranged for promoting the BOP
business. It is common that all countries need to arrange governmental ownership, infrastructure, andeducation (Hara, 2021). In arranging the infrastructure, the next sequence required for development isto promote technological transfer and developmentfrom overseas through further investment in technology and trainings (Ohno, 2010). Then, the FDI canfurther be enriched at the fourth stage. Finally, theBOP business can further be promoted via the FDI
and the other development assistance methods.
Based on these frameworks to be mentioned
above, I hypothetically formed an initial frameworkthat demonstrates the IDBM as shown in Table 2 in
the next page.
Firstly, this framework is composed of the five sequences of “Vision,” “Mission,” “Purpose,” “Formulation,” and “Implementation” by referring to the
SMF model. Then, one of the representative featuresin the framework is that formulations and implementations are characterized along with the income
stages of Low-income (Orange), Lower-middle income (Green), and Higher-middle icome (Blue) byreferring to the frameworks created by Tran (2016)
and Hara (2021).
In reference to the “Vision,” “Mission,” and “Purpose,” the main focus is to formulate an academic
formulation of the IDBM for contributing to visualizing a scenario of economic development throughbusiness activities, especially in the developingworld. Also, as for “Formulation” and “Implementation,” there are five sequences of “1.Economic andBusiness Analysis,” “2.Economic Development
Strategy Formation,” “3.Goal Setting,” “4. Structure(Promotion Parts)”, and “5. Control and Feedback”
by referring to the SMF, as well. Cenceptually, The
purpose of the “Formulation” is to focus on economic development policies to activate business inthe three income stage economies, while the item of“Implementation” is to promote business activities
for upgrading the income leve.

 Research Question (RQ):“How can the new academic discipline of International Development Business Management beformulated for contributing to further socio-economic development in the developing world?”

4. FRAMEWORKS
In considering the primary purpose of the researchcombination of business management with sustainable economic development, several frameworks canbe used for formulating a new framework relevant to
the International Development Business Management as follows.
Firstly, in gaining insight into economic development model, I found a useful model; building fromseveral key terms as Lewis’s “turning point” andRostow’s “take-off,” Tran (2016) formulated a transition from low-income to lower-middle income,higher-middle income, and high-income stages. The
crux point in his framework is that many economies
reach a plateau in the middle-income range, falling
either into the lower-middle income trap (LMIT) or
the higher-middle income trap (HMIT), respectively(Tran, 2016). The author then explored how to escape
the MIT by dividing the issue into two syndromes:
the lower-middle-income trap (LMIT) and thehigher-middle income trap (HMIT). He then proposed that improvement in the institutions for development and room for capital-investment growth offered a path out of the LMIT, while the enhancementof the total-factor productivity (TFP) and human resource development could help national economies toescape the HMIT (Tran, 2016). In a word, he theoretically demonstrated the mechanism of how to overcome the LMIT and HMIT from the perspective of
traditional economic development stage model.
Likewise, in recent years, especially since 2015,“Leapfrog Development Model” appeared in someparts of the developing and emerging world. The
Leapfrog phenomenon can happen in organizations,but also to leadership of countries or cities, where developing countries can skip stages of the path taken
by industrialized economies, enabling them to catch
up with economic growth as rapidly as possile (MIC,
2019). This model can also be considered for forming
a framework of the IDBM.
Thirdly, in focusing on how to formulate a development strategy, the Strategic Management Framework (SMF) demonstrates a detailed overview of thestrategy process utilized by many business/non-business organizations with three primary activities: Setting up the vision and mission comes first, then formulating strategy and implementing it (WWP, 2019).
5

Table 2 An Entire Framework of International Development Business Management
Vision: Contributing to Economic and Business Development through a Formulation of the New Discipline of International Development Business Management (IDBM)
Mission: Contributing to Addressing Social Issues in Developing Countries through the IDBM
Purpose: A Formulation of the New Discipline of International Development Business Management (IDBM) for Realizing Further Development
Formulation: Economic Development Policies for Business Activation in Low Income Economies
1.Economic and Business Analysis■External Environment

2.Economic Development Strategy Formation

Implementation: Business Activities for Upgrading to Lower-Middle-Income Stage
3.Goal Setting

4. Structure (Promotion Parts)

5. Control and Feedback

1. Activation of NGO Partnership

1. Improvement in Business Environm 1. BOP Business Development

1. Budget and Financial Planning and Review

Political Corruption, Conflicts, High Unemployment
Rate, High Poverty Rate, Less Technological

2. Infrastructural Development

2. Poverty Reduction through BOPBusiness Development

2. Agri-business Promotion

2. Incentive Policies for Business Persons■Industry Environmente.g.) Road Infrastructure, Governance, Human and Social
Capital3. Economic Digitalization

3. Education and Training for Business
Persons

Agriculture and Service Industry

3. Technological Transfer from Overseas

4. Industrial Promotion

Rich Human Resource with lower education level

4. Enhancing Business Credibility

5, SNS Business Promotion

Formulation: Economic Development for Business Activation in Lower-Middle Income Economies
1.Economic and Business Analysis

2.Economic Development Strategy Formation

Implementation: Business Activities for Upgrading to Higher-Middle-Income Stage
3.Goal Setting

4. Structure (Promotion Parts)

5. Control and Feedback■External Environment

1. Activation of NGO Partnership

1. Improvement in Business
Environment

Political Corruption, High Unemployment Rate,
High Poverty Rate with Larger Economic Disparity

2. Infrastructural Development

2. Poverty Reduction through BOPBusiness Development

2. Agri-business Promotion

2. Incentive Policies for Business Persons■Industry Environmente.g.) Road Infrastructure, Governance, Human and Social
Capital3. Economic Development throughIndustrial Development

3. Economic Digitalization

3. Education and Training for Business
Persons- Agriculture and Service Industry

3. Technological Transfer from Overseas

5, SNS Business Promotion

5. Promoting Foreign Direct Investment (FDI)
Formulation: Economic Development for Business Activation in Higher-Middle Income Economies

1.Economic and Business Analysis■External Environment

2.Economic Development Strategy Formation
1. NGO Activities- Corruption, Conflicts, Larger Economic Disparity 2. Infrastructural Development■Industry Environment- Manufacturing and Service Industrye.g.) Road Infrastructure, Governance, Human and Social
Capital

Implementation: Business Activities for Upgrading to High-Income Stage
3.Goal Setting

4. Structure (Promotion Parts)

5. Control and Feedback

1. Further Arrangement of Business
Environment

1. Agri-business Promotion

1. Budget and Financial Planning and Review

2. Poverty Reduction through BOPBusiness

2. Economic Digitalization

2. Incentive Policies for Business Persons

3. Economic Development throughHigh-Tech Industry

3. Education and Training for Business3. Industrial Promotion (High-Tech Indu
Persons

3. Technological Transfer from Overseas

4. SNS Business Promotion- Less Human Resource with higher education leve4. Enhancing Business Credibility- Partially Industrialized

1. Budget and Financial Planning and Review

4. Industrial Promotion- Rich Human Resource with lower education level 4. Enhancing Business Credibility- Less Industrialized

1. BOP Business Development

5. Promoting Foreign Direct Investment (FDI)

Source: Based on Tran(2016), MIC(2019), WWP(2019), and Hara(2021), Hara formed the framework.
6

I employed the archive data, primarily from the international organizations, the government agencies in
10 economies in Southeast Asia, South Asia, SouthAmerica, and sub-Saharan Africa, as the primary data
due to the most significant entities in this RQ. Specifically, the archive data relevant to the development
strategies for poverty reduction and business development strategies or frameworks were obtained.
Consequently, 15 resultant samples were found as ofthese entities sampling. In these ways, I obtained sufficient amount of data for qualitative analysis for RQ
With this model, I made a procedure of conducting
the document analysis for the grounded theory approach as follows. Firstly, I conducted the data-collection from the available web-sources, notably including international organizations, scholars’ existing studies, local governments. The data were relevant to the two platforms based on “Formulation” and“Implementation”; “1.Economic Development Policies for Business Activation” and “2. Business Activities for Upgrading an Income Stage.”
After the data-collection through the records’ review, I analyzed the data and excerpted the texts
which are directly related to the platforms above.
From the excerpted texts, the way I analyzed them
was to describe the executive contents one by one.
Then, the grounded theory is represented as the inductive approach to demonstrating the uses of thethree-step coding process; open, axial, and selective
coding. More significantly, the open, axial, and selective coding processes help us develop a cyclicaland evolving data loop. In that way, the scholars caninteract, are constantly comparing data, and applying
data reduction and consolidation techniques (Williams and Moser, 2019).

In such a way, I made a framework with three platforms for each income stage. The most essentialcondition of formulating this framework is that business opportunities (“Implementations”) cannot be
activated unless the arrangement of basic economic
infrastructure (“Formulation). Oterwise, the business activities cannot be put into practice. In a word,
development economic policies are inter-linled withinternational business management. Also, along thecurrent time, an emphasis on the promotion of technology should be the key to success. For instance, I
put “economic digitalization” and “SNS Promotion”
in “Implementation” in consideration of the “Leapfrog Phenomenon” this time. Still, when promoting
economic development, there is no short cut to raise
the income level without the continuous efforts fordevelopment, especially for low-income economies.
In this way, the arrangement of basic social infrastructure should further be developed.

5. METHODOLOGY AND STUDYRESULT(1) Methodology
For this IDBM framework to be justified, several
methodologies were employed; Firstly, since this is
the conceptual framework, I confirmed how to form
a conceptual framework with the normal five steps;“1.Selection of a topic,” “2. Decide my researchquestions,” “3. Conduct Research,” “Balance variables and establish variable relations,” and “Draw myConceptual Framework” (MAH, 2021). Within thesteps, the most important part should be to find varaibles/entities. Based on the current IDBM body, theessential entities should be the GNI per capita or Poverty Ratio. Another candidate of the applicable varaibale can be “Ease of Doing Business Index (EDBI).”
These two are essential components inextricably
linking to business and economic development(World Bank, 2022). The relationship between the
GNI per capita and the EDBI can potentially be described as the causalty. Therefore, the framework can
be developed with these two main varaibales.
Meahwhile, it has already been evident that thecontribution of the EDBI to the GNI per capita. The
more business opprotunities, the higher income wecan earn. Therefore, it is no longer necessary to employ the quantaitive analysis. Instead, it would be
more appropriate for me to choose qualitative analysis to make a conceptual framework. I selected theGronded Theory Model, which refers to an approachto generating theories through the coding processes(Williams and Moser, 2019). Also, for me to avoid asmuch biases as possible, I chose the document analysis, instead of personal or group interview.

(2) Study Result
Hypothetically, with the open, axial, and selectivecoding process with the use of 15 samples, the final
step of developing a IDBM framework to answer the
RQ is as follows.
1. An initial step of development strategies throughanalysis of external and industrial environment andstrategy in public services, NGO participation, andtechnological tranfer for agriculture and service industry towards the upgrade of the income stages.
2. Depending on the income stage, the development issues need to be prioritized for better businessclimate; food security, public services (education andmedical health), infrastructure, peace-building, governance, social protection for better business climate
with glocal partnerships, especially for rural development and poverty reduction and employability.
3. For implementation of business activities, using
the SNS service and other digital devices can be thekey for business development. Also, the opportunity
7

The fourth one is to review more literatures relevant to the DBM. This time, I mainly focused on the
Hayashi’s work, finding several study gaps to be addressed above. Nevertheless, it can be expected to seethat there are some other literature relevant to business management for developing countries, aside
from the BOP business. In this way, it would be necessary for me to have more literature review, finding
more appropriate study gaps for maximizing the potential of realizing the IDBM.
The fifth one is to choose an economic development model carefully. From the aspect of Development Economics, the representative economic development model of “Development Stage” endorsed by
Lewis (1954), Rostow (1961), and Tran (2013) can
become traditional. Simply put, the conventional theory of the Economic Development Stage Model canbe replaced with the “Leapfrog Development Model”
sooner or later. As explained earlier, the Leapfrog
phenomenon can happen in organizations, but also toleadership of countries or cities, where developing
countries can skip stages of the path taken by industrialized economies, enabling them to catch up witheconomic growth as rapidly as possile (MIC, 2009).
In Hayashi’s work, there was no description of theeconomic development theory-shift from the existingcatch-up model to leapfrog. Meanwhile, for the
IDBM to be practically working for contribution tofurther development, it would be necessary to catchup the model shift so that business organizations cangrasp the external environment and avoid from oldfashioned swiftly.
Finally, for the IDBM to be developed as an interdisciplinary academic discipline in the long run, otherneighboring social sciences, particularly politics, international relations, sociology, should further be included so that the IDBM can literally be interdisciplinary academic discipline more appropriately.

for reviewing budget and education or other trainings
for business persons as well as government agencies
should be done regularly for further improvement.

6. STUDY POTENTIALSThis paper made an intial attempt at the formulation of a new academic descripline of International
Development Business Management (IDBM) for the
purpose of contributing to further development in thedeveloping world nationally, organizationally, andindividually through combination of the existing academic desciplines of International Development andBusiness Management academically and practically.
Because of the first attempt at the formulation of
the IDBM this time, the study limitations should berecognized as shown in “Study Gaps” above. Still,these limitations can be converted into greater potentials to develop the IDBM for maximizing its academic and practical functions, espeically by catchingup the following items.
The first item to catch up would be to incorporate
cultural and histrocial perceptions regionally and nationally into the IDBM discipline. Hayashi’s work focused on the Philippines’ case only, and thereby becoming as the obstacle in generalizing the case due tothe peculiarity of the area. In this way, further casestudies should be needed, notably for the purpose ofgeneralizing theories represented in the IDBM.
The second one would be to catch up the current“new normal,” in the 21st century, especially due tothe pandemic since early 2020. In a way, the COVID19 revolutionized our ways of lives. Notably, the introduction of remote work has been spread in many
parts of the world, even in the developing countries.
Under the situation, how to maintain or maximize theorganizational productivity should further be addressed and researched. In this way, the “new normal” should be included from the aspect of the humanresource development.
The third one is to follow-up start-up organizations, including unicorn agencies, fintech, metaverse,
non-fungible token (NFT), etc. Around since 2019,new business activities to materialize the token economies have been signified in some parts of the world.
As of now, not only in the OECD economies, but also
in the emerging economies, the recognition and materialization of the token economies have been spreadover the past five. Even in low and lower-middle income economies, the number of start-up firms has
climbed with crypto adoption increasing by morethan 1,200% over the past two years. (Tech Crunch,2022). In this respect, the new business economy
shold also be included in the IDBM as an update.

7. CONCLUSION
This paper initially attempted at paving the way forformulating an academic discipline of the International Development Business Management (IDBM),
primarily by reviewing the characteristics of Development Economics and International Business Management, respectively. Also, I reviewed the literatureof Hayashi’s existing work relevant to the Development Business Management, fidning several study
gaps to be addressed as the important parts for formulating the IDBM independently. Using theGrounded Theory Model to conceptually formulate
the IDBM’s basic entire framework, resulting in thatthe business management can be connected with eco8

nomic development along with the income stage classified by low-income, lower-middle income, andhigher-middle income levels, aiming at poverty reduction through the implementation of business activities. Still, the plenty of essential parts for realizing
the IDBM are left for further study to maximize thepotentials of this academic discipline independently.

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ACKNOWLEDGMENT: I would like to express
my sincere gratitude to the Society of Global Business for all the guidance, encouragement, continuous
support through this paper to be published, the advice
and encouragement to pursue my attempt at formulating the academic discipline of the International
Development Business Management independently,
and the opportunity for presenting this paper at Kyoto
University.
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(Received April 1, 2022)(Accepted July 1, yyyy)

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