Rethinking Marketing: Sustainable Marketing Enterprise in Asia, Second Edition

Appendix 2. Generic Architecture for Facing the Crisis

In order to better understand the Architecture sub-model that we discussed in Chapter Three, we will apply it to a particular case: the Asian crisis, which began in 1997, and is still affecting a number of countries in the region.

The crisis started in Thailand. Hastened by global currency speculators, the baht was sent into a nosedive. It then spread to other Asian countries—first South Korea, then Hong Kong, Taiwan, Singapore, Malaysia and Indonesia. The crisis had far-reaching and fundamental consequences for the countries of the region. The three most significant of these were the instability of national economies, bringing with it a breakdown in public confidence; the stagnation of business ...