Harvard Case - Trade Promotion Authority and the Trans-Pacific Partnership
"Trade Promotion Authority and the Trans-Pacific Partnership" Harvard business case study is written by Anjani Datla, Robert Z. Lawrence. It deals with the challenges in the field of Business & Government Relations. The case study is 13 page(s) long and it was first published on : May 18, 2017
At Fern Fort University, we recommend a multifaceted approach to navigating the complexities of the Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP) agreement. This approach prioritizes a strategic balance between advocating for the potential benefits of increased trade and addressing the concerns surrounding potential negative impacts.
2. Background
The case study focuses on the 2015 debate surrounding the Trade Promotion Authority (TPA) and the Trans-Pacific Partnership (TPP) agreement. The TPA, also known as 'fast track,' aimed to expedite the congressional approval process for trade agreements, while the TPP aimed to reduce trade barriers and promote economic growth among participating countries. The case highlights the diverse perspectives on these initiatives:
- Proponents: Advocated for increased trade, economic growth, job creation, and access to new markets. They emphasized the potential benefits for US businesses and consumers, particularly in sectors like agriculture, manufacturing, and technology.
- Opponents: Raised concerns about potential job losses, environmental degradation, and erosion of labor standards. They argued that the TPP would benefit large corporations at the expense of workers and the environment, and that the TPA would limit congressional oversight and public input.
Main Protagonists:
- The Obama Administration: Strongly supported both the TPA and the TPP, viewing them as key components of US economic and foreign policy.
- US Congress: Debated the merits and drawbacks of both initiatives, with different political parties and factions holding opposing views.
- Businesses: Varied in their support for the TPP, with some industries anticipating significant benefits while others feared potential negative consequences.
- Labor Unions: Generally opposed the TPP, fearing job losses and a decline in labor standards.
- Environmental Groups: Expressed concerns about the TPP's potential impact on environmental regulations and sustainability.
3. Analysis of the Case Study
This case study can be analyzed through the lens of International Business Strategy and Government Relations.
International Business Strategy:
- Globalization: The TPP represents a significant step towards further globalization, with potential benefits and risks for US businesses.
- Competitive Strategy: The TPP could reshape the competitive landscape for US companies by opening new markets and increasing competition from foreign firms.
- Emerging Markets: The TPP includes several emerging markets, offering opportunities for US businesses to expand their operations and tap into new growth potential.
- Foreign Investment: The TPP could encourage increased foreign direct investment in the US, potentially leading to job creation and economic growth.
- International Relations: The TPP is a complex geopolitical agreement with implications for US relations with other countries.
Government Relations:
- Government Policy and Regulation: The TPA and TPP are examples of government policy aimed at influencing trade and economic activity.
- Trade Policies: The TPP represents a significant shift in US trade policy, with implications for industries, consumers, and workers.
- Lobbying Strategies: The case highlights the intense lobbying efforts by various stakeholders seeking to influence the outcome of the TPA and TPP debates.
- Corporate Political Activity: Businesses actively engaged in political advocacy, attempting to shape government policy in their favor.
- Economic Policy: The TPP has significant economic policy implications, potentially impacting factors like inflation, interest rates, and exchange rates.
4. Recommendations
To navigate the complexities of the TPA and TPP, we recommend a multi-pronged approach:
1. Strategic Engagement:
- Business and Government Relations: Businesses should proactively engage with government officials at all levels, building relationships and advocating for their interests.
- Corporate Social Responsibility: Businesses should demonstrate a commitment to ethical business practices, environmental sustainability, and fair labor standards. This can help mitigate concerns about the potential negative impacts of trade agreements.
- Lobbying Strategies: Businesses should engage in effective lobbying efforts, presenting compelling arguments and data to support their positions.
- Government Procurement Processes: Businesses should familiarize themselves with government procurement processes to maximize opportunities arising from increased trade.
2. Risk Management:
- Political Risk Analysis: Businesses should conduct thorough political risk analysis to assess potential risks and opportunities associated with the TPP.
- Crisis Management: Businesses should develop contingency plans to address potential disruptions or challenges arising from trade agreement implementation.
- Business Adaptation to Policy Shifts: Businesses should be prepared to adapt their operations and strategies in response to evolving trade policies.
3. Public Engagement:
- Stakeholder Management: Businesses should engage with a wide range of stakeholders, including consumers, workers, environmental groups, and community organizations.
- Corporate Political Transparency: Businesses should be transparent about their political activities and lobbying efforts.
- Business Diplomacy: Businesses should engage in diplomacy and dialogue with foreign counterparts to foster understanding and collaboration.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: Businesses should focus on leveraging their core competencies and aligning their activities with their mission and values.
- External Customers and Internal Clients: Businesses should prioritize the needs of their customers and employees, ensuring that trade agreements benefit all stakeholders.
- Competitors: Businesses should consider the competitive landscape and develop strategies to maintain or enhance their market position.
- Attractiveness: Businesses should assess the potential economic benefits of the TPP, considering factors like market access, cost savings, and investment opportunities.
6. Conclusion
Navigating the complexities of the TPA and TPP requires a strategic approach that balances the potential benefits of increased trade with the need to address concerns about potential negative impacts. By engaging in proactive government relations, managing risks effectively, and fostering public engagement, businesses can position themselves to thrive in the evolving global marketplace.
7. Discussion
Alternatives:
- Complete Opposition: Businesses could choose to oppose the TPP entirely, potentially facing challenges in accessing new markets and competing with foreign firms.
- Passive Observation: Businesses could choose to passively observe the TPP's implementation, potentially missing out on opportunities and failing to influence the outcome.
Risks and Key Assumptions:
- Risk of Job Losses: The TPP could potentially lead to job losses in certain sectors, especially if businesses relocate operations to countries with lower labor costs.
- Risk of Environmental Degradation: The TPP could potentially weaken environmental regulations, leading to increased pollution and resource depletion.
- Assumption of Economic Growth: The TPP is based on the assumption that increased trade will lead to economic growth, but this outcome is not guaranteed.
- Assumption of Effective Government Oversight: The TPA aims to expedite the approval process for trade agreements, but it is essential to ensure that adequate oversight and public input remain in place.
8. Next Steps
Timeline:
- Short-Term (1-3 Months): Conduct thorough political risk analysis, develop lobbying strategies, and engage with key stakeholders.
- Mid-Term (3-6 Months): Implement risk mitigation measures, adapt business operations as needed, and monitor the TPP's implementation.
- Long-Term (6+ Months): Continue to engage with government officials, advocate for policy adjustments, and adapt to evolving trade dynamics.
By following these recommendations and taking a proactive approach, businesses can navigate the complexities of the TPA and TPP, maximizing opportunities while mitigating risks and contributing to a more sustainable and equitable global economy.
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Case Description
The Trans Pacific Partnership (TPP)-a massive free trade agreement between the United States, Japan and ten other Pacific nations-was a vital element of US President Barack Obama's trade policy. If completed, the TPP would be the largest regional trade agreement in history, accounting for 40 percent of the global economy, and nearly one-third of global trade. In 2015, after five years of negotiations the TPP countries were close to agreement. But one major obstacle remained. US President Barack Obama had not yet received Trade Promotion Authority (formerly known as fast track)-a legislative measure that gave the President the authority to present a finalized trade agreement for an up or down vote in the U.S. Congress. In the Spring of 2015, the White House had just a few short weeks to secure fast track, before the next scheduled round of TPP negotiations, and before the US Congress recessed for the summer. But if the past was any guide, Obama was about to face a bruising battle with Congress, where the TPP had already proved divisive. A large swath of Obama's own Democratic caucus was vociferously against the trade agreement. Most Republicans on the other hand, welcomed the TPP. Just as President Bill Clinton had done in the 1990s, Obama would have to forge an uncomfortable alliance with some of his fiercest opponents in the Republican Party to ensure the survival of his ambitious trade agenda. In doing so he would have to confront fellow Democrats, who were being lobbied heavily by labor unions and consumer groups to vote against Trade Promotion Authority. Case number 2095.0
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