Fukuyama's End Of History Thesis: Are Western Marketing Theories The End Point Of Marketing Theory Evolution?

Abstract

This paper is an exploratory literature review of western management and marketing philosophies which are increasingly dominating the theory and practice across the world. Applying Fukuyama’s argument that western liberal democracy is the end point of political history to management and marketing philosophies, this paper examines whether western marketing and management theories are the final outcome of marketing and management evolution that can be universally accepted and practiced. A review of the current literature relating to the globalization debate suggests that globalization recognizes both the differences and the similarities in countries that should be taken into account in appropriately approaching business across borders. Since developing countries have differing socio-economic and cultural backgrounds, this reality provides a justification for investigating whether western marketing and management philosophies are deemed appropriate in the context of developing countries. An examination of the trends in developing countries, such as India and China, in the development and application of indigenous management theories provides a basis for arguing that western marketing and management philosophies may not be the final point of marketing and management evolution in some developing countries. Several research questions are raised in this paper for further exploration and it aims to stimulate debate on the current state of marketing theory evolution.