In recent times, emerging markets have attracted a great deal of attention from the rest of the world because they have become the motors of global economic growth. This has been accompanied by two distinct trends: a boom in investment from corporations in developed nations, and the rise of homegrown multinationals. A recent book by Wharton management professor Mauro F. Guillén and Esteban Garcia-Canal, professor of business at the University of Oviedo, explores the winning strategies of emerging multinationals as well as the lessons that can be learned from today's more globalized distribution of power.
Knowledge@Wharton spoke with the authors of Emerging Markets Rule: Growth Strategies of the New Global Giants to examine this phenomenon in greater depth.
An edited version of the transcript appears below.
Knowledge@Wharton: What factors are responsible for precipitating the internationalization process of companies from emerging markets?
Mauro. F. Guillén: Emerging markets have become key launching pads for new multinational firms. Many enjoy production cost advantages in the home country. Others have ventured abroad using the brands and technologies developed in an emerging economy, which have proved to be useful in developed markets as well as other emerging economies. They have also learned in the home country how to deal with government regulation. The global economy has become a two-way street: Firms from emerging economies are now every bit as capable and competitive as companies from the U.S., Europe and Japan. The global playing field is now level.
K@W: In terms of their numbers, how important are emerging-market multinational firms?
click to continue interview
No comments:
Post a Comment