This study argues that in order to appreciably improve analyses from the developmental state perspective, it is necessary to consider applying the concepts from another body of literature, that of business history, specifically those based on the work of Alfred Chandler.3 Both these sets of literature have never been employed in conjunction with each other, and almost no attention has been paid to Chandler’s work.4 And yet, the collective application of the concepts in these two bodies of literature is crucial for securing a proper understanding of economic and enterprise development in East Asia in general, and in Malaysia in particular.