ABSTRACT: The conventional global competitive landscape started to change since the 1990s with the emergence of emerging market multinationals (EMNEs). Most of EMNEs were marginal competitors just a decade ago, but, today, they are challenging the world’s most accomplished and establishedmultinational enterprises (MNEs)from advanced markets in a wide variety of industries and markets. EMNEs have adopted different global expansion strategies from advanced market MNEs in the process of internationalization. Therefore, it is timely and critical to question whether the existing theories on internationalization of MNEs that have been developed mainly studying MNEs from advanced markets are relevant to explain the behaviors and strategies of EMNEs. Through this paper, I try to elaborate the behaviors and strategies that have been adopted by EMNEs in their internationalization process to support the theory building efforts to explain the internationalization of EMNEs. Although we need to elaborate new theories to explain internationalization process specifically appropriate to EMNEs, we also need to identify which aspects of the existing theories on internationalization of MNEs are universally valid.
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
In the Business Perspectives for Emerging Markets 2012-2017 Report from GIA, 431 large and mid-sized companies reveal their true goals and intentions. This presentation shows selected slides from a GIA white paper. To download the entire white paper that you are interested in, please visit http://bit.ly/GIAinsightWP
1. 70% say they want to gain a foothold for long term success
2. 51% say they were keen to gain global market share
3. 4 out of 10 have followed their customers to Emerging Markets
4. A third are looking for growth outside established markets with lackluster growth and profits
5. 1 out of 4 are keen to diversify their risks, as well as tap into short to medium term profits and growth
6. Only 17% said it was to lower supply costs
Many still favor BRIC countries as their top focus between 2012 and 2017, with similar emphasis on individual markets across 10 industries.
However, 91% admit to wanting to have done things differently in their Emerging Market strategies. The main regrets are not adapting more to local conditions, not entering sooner and not acquiring better market intelligence.
Over half say that information on Emerging Markets is not readily available in their organizations, with three out of four doubting the accuracy and completeness of the information that they do have.
Download the Business Perspectives for Emerging Markets 2012-2017 Report (Global Results) from GIA, to find out how companies say they will tackle Emerging Markets and what they see as the success factors and threats for their individual industries. The wide ranging Emerging Markets survey covered questions such as:
- How do you define Emerging Markets in your company?
- Which are the top Emerging Markets for your industry over the next five years?
- What key factors will determine whether foreign companies succeed in Emerging Markets?
- What are the biggest threats to succeeding in Emerging Markets?
- What are your company’s main reasons for investing in Emerging Markets?
- What share of your company’s global revenue do you expect to come from Emerging Markets?
- Which one aspect of your Emerging Markets strategy would you go back and change if you could?
Industries covered include: Manufacturing & Industrial; Telecommunication, Technology & Media; Professional & Business Services; Financial Services; Consumer & Retail; Pharmaceuticals & Healthcare; Energy, Resources & Environment; Automotive; Chemicals; Logistics & Transportation.
Since the early 1990s, developing countries have been the fastest-growing market in the world for most products and services. Companies can lower costs by setting up manufacturing facilities and service centers in those areas, where skilled labor and trained managers are relatively inexpensive.If Western companies don’t develop strategies for engaging across their value chains with developing countries, they are unlikely to remain competitive for long.Companies that choose new markets systematically often use tools like country portfolio analysis and political risk assessment, which chiefly focus on the potential profits from doing business in developing countries but leave out essential information about the soft infrastructures there.
The purpose of this paper is to investigate how firm age and size affect the small and medium firm to move from the local to international market. Literature has strongly suggested that the firm age and firm size some of the key factors that influence internationalization of medium sized firms for many developing economies though little research has been done regarding the same for developing economies. An in depth survey was conducted with 73 Kenya Top 100 medium companies targeting the CEOs and/or key executives by the use of a questionnaire instrument. The data was analyzed by the use of Statistical Package for Social Scientists (SPSS) Version 21. Both descriptive and inferential statistics were used to present data. The study found that if Kenyan medium sized firms would sustainably increase the size of their operation, as they age, this would increase theirreadiness to internationalize their operations. They would therefore achieve superior capability to maximize on any opportunity that might arise for doing business in foreign market.The study recommends that the Government of Kenya should provide a supportive environment that would enable medium firmsto grow and overcome the challenges of smallness which is a precursor to internationalization.
Abstract: Fortune telling may not be so difficult for someone who understands current global trends. This paper attempts to predict the future of management by considering the context of leadership, organizational trends, and its effects on the domestic labour market. The paper assumes an increase in government interventions across the globe to protect the domestic markets, emphasizing the circumstances of China and the United States of America. The paper further discusses two futuristic leadership models; the global leadership model and evolutionary-based management models then sets out two possible scenarios of future organizations and concludes by highlighting the necessary characteristics of the future manager.
international business
,
what is culture
,
values andnorms
,
culture
,
society
,
and the nation-state
,
hofstede’s cultural dimensions in dubai
,
spoken language
,
individuals and groups
,
cultural dimensions in germany
,
cultural dimensions in china
,
cultural dimensions in india
,
cultural dimensions in england
,
social structure
,
religious and ethical systems
,
islam
,
implications for managers
The Export Imperative: Business Survey on Foreign ExpansionRegus
Companies are concerned about ‘place’ and ‘people’ when contemplating foreign expansion. Foreign workspace has to be flexible with only very short-term commitments. Opinion is divided over whether foreign operations should be overseen by local managers or whether a boss should be shipped in from the home country. This decision probably rests on the level of direct customer interaction that the firm envisages in the foreign market.
The report concludes that the more companies expand and diversify outside their domestic markets, the more productive they are likely to be, making a significant contribution to the vibrancy and stability of the global economy.
Over 12,000 business respondents from the Regus global contacts database spanning 85 countries were interviewed during August 2011. The Regus global contacts database of over 1 million business-people worldwide is highly representative of business owners and senior managers across the globe.
This is the subtopic of Professional Ethics and defines MNC, Classified MNC, History and Evolution, Structure, SWOT Analysis, Reason, MNCs In India and other.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
I. INTRODUCTION
international Marketing is an important perception for
various economies and countries of the World. The 90’s
decade saw a significant change in the structure of
International Marketing. Technology has changed with many
new advancements and innovations . This has resulted in
having better transport system, good communication methods
which in turn has brought the whole world together and made
it so small. Liberalization, privatization and globalization have
made the term Global Market very significant in nature. This
meant company could produce larger quantity of goods at
cheaper rates just because of technical and technological
changes. That’s why many companies are now forced to look
beyond their domestic boundaries to get entry in global
markets. Newer market meant bigger challenge to conquer
them. This has made international marketing indispensable.
In the Business Perspectives for Emerging Markets 2012-2017 Report from GIA, 431 large and mid-sized companies reveal their true goals and intentions. This presentation shows selected slides from a GIA white paper. To download the entire white paper that you are interested in, please visit http://bit.ly/GIAinsightWP
1. 70% say they want to gain a foothold for long term success
2. 51% say they were keen to gain global market share
3. 4 out of 10 have followed their customers to Emerging Markets
4. A third are looking for growth outside established markets with lackluster growth and profits
5. 1 out of 4 are keen to diversify their risks, as well as tap into short to medium term profits and growth
6. Only 17% said it was to lower supply costs
Many still favor BRIC countries as their top focus between 2012 and 2017, with similar emphasis on individual markets across 10 industries.
However, 91% admit to wanting to have done things differently in their Emerging Market strategies. The main regrets are not adapting more to local conditions, not entering sooner and not acquiring better market intelligence.
Over half say that information on Emerging Markets is not readily available in their organizations, with three out of four doubting the accuracy and completeness of the information that they do have.
Download the Business Perspectives for Emerging Markets 2012-2017 Report (Global Results) from GIA, to find out how companies say they will tackle Emerging Markets and what they see as the success factors and threats for their individual industries. The wide ranging Emerging Markets survey covered questions such as:
- How do you define Emerging Markets in your company?
- Which are the top Emerging Markets for your industry over the next five years?
- What key factors will determine whether foreign companies succeed in Emerging Markets?
- What are the biggest threats to succeeding in Emerging Markets?
- What are your company’s main reasons for investing in Emerging Markets?
- What share of your company’s global revenue do you expect to come from Emerging Markets?
- Which one aspect of your Emerging Markets strategy would you go back and change if you could?
Industries covered include: Manufacturing & Industrial; Telecommunication, Technology & Media; Professional & Business Services; Financial Services; Consumer & Retail; Pharmaceuticals & Healthcare; Energy, Resources & Environment; Automotive; Chemicals; Logistics & Transportation.
Since the early 1990s, developing countries have been the fastest-growing market in the world for most products and services. Companies can lower costs by setting up manufacturing facilities and service centers in those areas, where skilled labor and trained managers are relatively inexpensive.If Western companies don’t develop strategies for engaging across their value chains with developing countries, they are unlikely to remain competitive for long.Companies that choose new markets systematically often use tools like country portfolio analysis and political risk assessment, which chiefly focus on the potential profits from doing business in developing countries but leave out essential information about the soft infrastructures there.
The purpose of this paper is to investigate how firm age and size affect the small and medium firm to move from the local to international market. Literature has strongly suggested that the firm age and firm size some of the key factors that influence internationalization of medium sized firms for many developing economies though little research has been done regarding the same for developing economies. An in depth survey was conducted with 73 Kenya Top 100 medium companies targeting the CEOs and/or key executives by the use of a questionnaire instrument. The data was analyzed by the use of Statistical Package for Social Scientists (SPSS) Version 21. Both descriptive and inferential statistics were used to present data. The study found that if Kenyan medium sized firms would sustainably increase the size of their operation, as they age, this would increase theirreadiness to internationalize their operations. They would therefore achieve superior capability to maximize on any opportunity that might arise for doing business in foreign market.The study recommends that the Government of Kenya should provide a supportive environment that would enable medium firmsto grow and overcome the challenges of smallness which is a precursor to internationalization.
Abstract: Fortune telling may not be so difficult for someone who understands current global trends. This paper attempts to predict the future of management by considering the context of leadership, organizational trends, and its effects on the domestic labour market. The paper assumes an increase in government interventions across the globe to protect the domestic markets, emphasizing the circumstances of China and the United States of America. The paper further discusses two futuristic leadership models; the global leadership model and evolutionary-based management models then sets out two possible scenarios of future organizations and concludes by highlighting the necessary characteristics of the future manager.
international business
,
what is culture
,
values andnorms
,
culture
,
society
,
and the nation-state
,
hofstede’s cultural dimensions in dubai
,
spoken language
,
individuals and groups
,
cultural dimensions in germany
,
cultural dimensions in china
,
cultural dimensions in india
,
cultural dimensions in england
,
social structure
,
religious and ethical systems
,
islam
,
implications for managers
The Export Imperative: Business Survey on Foreign ExpansionRegus
Companies are concerned about ‘place’ and ‘people’ when contemplating foreign expansion. Foreign workspace has to be flexible with only very short-term commitments. Opinion is divided over whether foreign operations should be overseen by local managers or whether a boss should be shipped in from the home country. This decision probably rests on the level of direct customer interaction that the firm envisages in the foreign market.
The report concludes that the more companies expand and diversify outside their domestic markets, the more productive they are likely to be, making a significant contribution to the vibrancy and stability of the global economy.
Over 12,000 business respondents from the Regus global contacts database spanning 85 countries were interviewed during August 2011. The Regus global contacts database of over 1 million business-people worldwide is highly representative of business owners and senior managers across the globe.
This is the subtopic of Professional Ethics and defines MNC, Classified MNC, History and Evolution, Structure, SWOT Analysis, Reason, MNCs In India and other.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
I. INTRODUCTION
international Marketing is an important perception for
various economies and countries of the World. The 90’s
decade saw a significant change in the structure of
International Marketing. Technology has changed with many
new advancements and innovations . This has resulted in
having better transport system, good communication methods
which in turn has brought the whole world together and made
it so small. Liberalization, privatization and globalization have
made the term Global Market very significant in nature. This
meant company could produce larger quantity of goods at
cheaper rates just because of technical and technological
changes. That’s why many companies are now forced to look
beyond their domestic boundaries to get entry in global
markets. Newer market meant bigger challenge to conquer
them. This has made international marketing indispensable.
In their search for sustainable development and endurable development strategies, neo-colonial economies of the Third World and Africa in particular gloss over massive corruption in public office and sit-tight syndrome of leaders. Rather, since attaining independence in the 1950s and 60s, their leaders have tinkered with several development strategies drawn from both the capitalists and socialist models. In all of these, development has remained a far cry as a result of many challenges faced by these economies. Strategies ranging from indigenization to export promotion and import substitution of the 1960s, to privatization and structural adjustment of the 1980s and Foreign Direct Investment of the 1990s have been experimented with varying degrees of success. Little has been done in the area of checking financial corruption and abuse of office by public office holders, building of strong institutions from which economic oriented strategies can be rooted and checking tenure elongation by leaders of states. The results have been huge failures and frustration on the part of development partners. This paper has attempted a survey approach to Foreign Direct Investment as a way out of structural imbalances of neo-colonial economies. Basing this examination on Nigeria, findings have shown that Foreign Direct Investment can work for development only if host government regulate the activities of foreign investors and also create enabling environment for investment to yield expected results.
Assignment Questions1. What are the unique strategies that the e.docxssuser562afc1
Assignment Questions
1. What are the unique strategies that the emerging-market companies employ in pursuing globalization?
2. What strategies will M&M have to employ in the U.S. to be able to sell its SUVs?
3. What are the various alternatives in front of M&M in building its brand at the global level?
You will also integrate the questions throughout as part of your analysis. In addition, be sure to address the following:
• Provide a cultural profile of the company and it's historical background
• Discuss the communication issues as they move into emerging markets such as the United States
• Discuss the staffing policies and HR challenges that will be used
• Discuss leadership and motivation.
• Explain issues of concern that should be addressed
• Describe the organizational structure and changes necessary to facilitate expansion
Case 11 Mahindra & Mahindra (B): An Emerging Global Giant?
· “I have been on record to say that my philosophy of going global is because if you don’t succeed abroad or don’t have the capacity to succeed abroad and to carve out some turf abroad you are not going to be safe at home […]. If you want to compete with multinationals you have to be a multinational. So that is the logical rationale for going abroad.”1
–ANAND G. MAHINDRA, Vice Chairman and Managing Director, Mahindra & Mahindra Ltd., in 2010.
In 2011, India-based automotive giant Mahindra & Mahindra Ltd. (M&M) was featured on the Forbes Global 2000 list,2a ranking of the biggest and most powerful companies in the world. Besides M&M, some of the other Indian companies that figured on the list were Reliance Industries, State Bank of India, Oil & Natural Gas Corp., ICICI Bank, NTPC, Bharti Airtel, Larsen & Toubro, and Tata Motors. Emerging markets such as China and India, with 113 and 56 members respectively on the list, were growing steadily and gaining prominence at the global level, industry analysts said.
Based in Mumbai, India, M&M was one of the leading players in the Indian Multi Utility Vehicles (MUV) and tractor segments of the automotive industry as of 2011. Besides the automotive industry, the company has a presence in agribusiness, aerospace, components, consulting services, defense, energy, financial services, industrial equipment, logistics, real estate, retail, steel, and two-wheelers. The Group’s automotive sector, which manufactures and markets utility vehicles and light commercial vehicles, was the fourth-largest automaker in India as of 2010. As of 2011, M&M’s model range included more than 20 vehicles, including the Scorpio and the Xylo utility vehicles. After establishing its leadership in the Indian automotive market, M&M began to seek opportunities in global markets. The company stormed into the global limelight with the formidable success of its Sports Utility Vehicle (SUV)—the “Scorpio.”3 Going forward, M&M planned to expand its global reach by launching its vehicles in the international markets including North America, Europe, Africa, a ...
# 109425 Cust Pearson Au Deresky Pg. No. 3 Title Int.docxmayank272369
# 109425 Cust: Pearson Au: Deresky Pg. No. 3
Title: International Management: Managing Across Borders and
Cultures, Text and Cases, Server:
C/M/Y/K
Short / Normal
DESIGN SERVICES OF
S4carliSle
Publishing Services
was debatable whether M&M would be able to sustain a diverse
product portfolio at the global level. They questioned whether
M&M could be successful in the overseas markets, particularly
the U.S., given that it was an emerging-market company.
“EmErging-markEt” CompaniEs—
Changing global businEss sCEnario
Based on their economies, the countries of the world have been
categorized as developed and developing. While the developed
economies include various countries in Western Europe, the U.S.,
Canada, and Japan, the developing economies include Argentina,
Brazil, Chile, China, Egypt, Hungary, India, Indonesia, Malaysia,
Mexico, Poland, Russia, Thailand, and Turkey. The group of Brazil,
Russia, India, China, Mexico, and South Korea are commonly re-
ferred to as the Big Six (“B6”) by global management consulting
firm Accenture, as they are the leading developing economies.
Earlier, owing to their low-cost structures, the developing
economies served as mere outsourcing locations for the Multi-
National Companies (MNCs) of the West. However, the changing
global economic scenario had brought down trade and investment
barriers and integrated global supply chains, thereby paving the
way for the development of emerging markets. Some of the de-
veloping countries were witnessing rapid growth and thus the no-
menclature Rapidly Developing Economies (RDEs) was assigned
to them. The term “Rapidly Developing Economies” was used to
denote emerging markets such as China, India, Mexico, Brazil,
Russia, South Africa, Poland, Indonesia, Turkey, and South Korea.
Moreover, the importance of the emerging markets to the global
economy came into sharp focus as the world came out of the global
economic recession. Experts said that the importance of emerging
economies to world trade had been steadily increasing. Between
1990 and 2010, the annual growth rate of exports and imports from
emerging and developing economies averaged around 7.5% com-
pared to the figure of around 5% for developed economies.4
It was reported that the share of the RDEs in global trade
was growing significantly. Notably, RDEs were receiving high
Foreign Direct Investments (FDI). Between 2001 and 2006,
the growth rate of outward FDI (OFDI) from the B6 countries
in the form of Mergers & Acquisitions (M&A) was more than
50% annually.5 By 2006, the FDI outflows from the developing
economies stood at US$174 billion, equivalent to 14% of the
“I have been on record to say that my philosophy of going global is because if you don’t succeed abroad
or don’t have the capacity to succeed abroad and to carve out some turf abroad you are not going
to be safe at home [. . .]. If you want to compete with multinationals you have to ...
This article compares the opportunities and constraints of the Chinese and Indian capital markets. While the Indian market is more open to foreign portfolio investments, there are governance and reliability risks as well as substantial volatility. In the Chinese case, much of the market is closed to foreign portfolio investors. While exposure to these markets offers important opportunities for diversification, both also have drawbacks which must be clearly understood for their risks to be effectively managed.
One of the best ways to learn a concept is to teach a concept, and i.docxcarlibradley31429
One of the best ways to learn a concept is to teach a concept, and in this assignment it will be necessary for the learner to understand and explain the concepts from
Modules 1
and
2
in a 7–10-slide PowerPoint presentation. The Internet will be a great resource for completing this assignment because the learner can use keyword phrases to pull the specifics needed to cover the topics and complete the assignment.
You have been asked to create a PowerPoint presentation to train a group of new employees for Future Trends Financial Firm on key concepts of emerging markets. Include the following in your presentation:
Identify and explain key concepts of emerging technologies, highlighting their use and availability for emerging and developed markets.
Define and describe common industry concepts including: institutional voids, business groups, technological capabilities, changing income distribution, and bottom of the pyramid. Please be sure that the correlation between concepts and various markets is appropriate.
Develop a 7–10-slide presentation in PowerPoint format, utilizing at least two scholarly sources. Apply APA standards to the citation of sources.
Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; display accurate spelling, grammar, and punctuation.
Information from Module 1:
In
Module 1
, you will begin your journey into understanding the concept of EMs. This module’s discussion question and assignment are both designed to help in building the foundation knowledge of understanding EMs.
What is an EM? According to Investopedia (n.d.), an EM is, “A nation's economy that is progressing toward becoming advanced, as shown by some liquidity in local debt and equity markets and the existence of some form of market exchange and regulatory body” (para. 1).
EMs surfaced in the 1970s as
less developed economies
. Countries that are considered EMs possess certain distinguishing traits. Some of the common traits are:
Demanding culture
High rates of immigration
Fragmented market
Growing youthful population
Investors are shifting their investments to EMs because of their potential long-term growth rate (Johnston, 2011). One of the main reasons EMs are rapidly growing is due to the countries' visible economic advancements. According to EPFR Global, a fund tracking company, investors invested more than $50 billion into EMs in 2012 (Bloomberg Businessweek, 2013).
Investopedia. (n.d.).
Emerging market economy
. Retrieved from
http://www.investopedia.com/terms/e/emergingmarketeconomy.asp
Johnston, M. (2011, November 23).
5 factors to consider in choosing an emerging markets ETF
. Retrieved from
http://seekingalpha.com/article/309867-5-factors-to-consider-in-choosing-an-emerging-markets-etf
Bloomberg Businessweek. (2013, January 31).
The top 20 emerging markets
. Retrieved from
http://images.businessweek.com/slideshows/2013-01-31/the-top-20-emergi.
Impact Of Venture Capital and Research Institute on Entrepreneurialecosystemâ...inventionjournals
International Journal of Engineering and Science Invention (IJESI) is an international journal intended for professionals and researchers in all fields of computer science and electronics. IJESI publishes research articles and reviews within the whole field Engineering Science and Technology, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Due Monday 6262017I need a paragraph of information added in t.docxharold7fisher61282
Due Monday 6/26/2017
I need a paragraph of information added in the appropriate place to my paper with in-text citing along with citing the source. The source has to be from Securities Exchange Commission (SEC). The paper is located below.
International Business Acquisition and Expansion
Bigfella15
Institution:
International Business Acquisition and Expansion
Company Acquisition in the European Union
As an investor and a corporate head of Fauna Investment Company in Europe, I would prefer acquiring a company from the European Union borders as compared to any other region in the international business community. The European Union as a unified state of the European nations has a lot to offer as compared to any other country/union of countries in the world. The first reason for the choice of the European Union comprises of the superior dominance of the Union in the international business and socio-political sector (James, Debra, & Paul, 2010). Europe has a major influence on the rest of the world, and having a company in a European nation serves Fauna Investment Company with a powerful position to run its operations in the international market. I believe that Europe will provide my company with the right political platform to expand its business operations in the region and the rest of the world.
The second factor for acquiring a company in Europe is the language and culture. Most European countries speak English, practice democracy, and have a culture similar to that of the United States. Conducting business in Europe equates to launching a product in the United States. It will not be difficult to operate a company in Europe because of the similarity the region has with the United States of America (Merkert& Morrell, 2012). The customers in Europe have more so the same purchasing power and preference for products and services as those found in America.
Europe also comprises of good investment and company acquisition policies and regulations as compared to regions such as Africa, South America, and Asia. The investment policies are friendly and are open to new multinationals venturing into the countries’ business market. Europe also comprises of many laborers from foreign Asian countries and the domestic workers from the European countries which make it easy for any company to acquire its objectivity and boost its financial potential.
Disadvantages and Advantages Investing in the European Union
Several advantages and disadvantages exist regarding the choices I have made about my company acquisition in Europe. The following include the advantages and disadvantages of carrying out business in Europe:
Advantages of Company Acquisition in Europe
Europe was from the first region to establish and implement the Industrial and Agrarian Revolutions. The two revolutions have endowed the continent with the right skills and human resources to support the growth and development of any business. Business has expanded and grown in the E.
On the Use of the Causal Analysis in Small Type Fit Indices of Adult Mathemat...QUESTJOURNAL
ABSTRACT: Model evaluation is one of the most important aspects of Structural Equation Modeling (SEM). Many model fit indices have been developed. It is not an exaggeration to say that nearly every publication using the SEM methodology has reported at least one fit index. Fit is the ability of a model to reproduce the data in the variance-covariance matrix form. A good fitting model is one that is reasonably consistent with the data and doesn’t require respecification and also its measurement model is required before estimating paths in a covariance structure model. A baseline model of four constructs together with a combination of none, one, two, three or four additional constructs was constructed with latent variables: educational performance, socioeconomic label, self concept and parental authority using dichotomous digits 0 or 1 for each additional construct. 16 progressively nested models were considered starting with baseline model using the mathematics adult learners data from the modeling sample and employing some small fit indexes which are commonly used (AIC, CAIC, RMR, SRMR, RMSEA, 2 / DF among others) [1] to test the fitness of the model. The measures of model fit based on results from analysis of the covariance structure model are presented.
The Sov’reign Shrine of Veiled Melancholy- The Shadow of Consumption on La Be...QUESTJOURNAL
―Youth grows pale and spectre thin and dies‖ – John Keats, (Ode to Nightingale) Tuberculosis was one of the most misunderstood and misrepresented diseases of all times. Hailed as Consumption’s Poster Child, Keats' life, like Beethoven's, served as a pattern tor the Romantic artist. In acute distress and emotional turmoil, in 1819 masterpiece followed masterpiece. In Keats' poems we see a concreteness of description of the object he contemplates. All the senses - tactile gustatory, kinetic, organic, as well as visual and auditory combine to give the total apprehension of his experience. His experiences often accord closely with his personal, life and the disasters he had. Keats is austere in poetry and yet he keeps high colouring and variety of appeal to the senses and the mind. Tuberculosis remains with us today, especially in sub-Saharan Africa and Southeast Asia where more than a million people die of this disease each year. It is worth recalling its history and its association with literature with special reference to John Keats and his poetry- and specially La Belle Dame Sans Merci that shows a dominant forebrooding over man's mortality from it. La Belle becomes a representation of the disease in Keats’s La Belle Dame Sans Merci and reflects the poet’s struggle with tuberculosis.
Recruitment Practices And Staff Performance In Public Universities: A Case St...QUESTJOURNAL
ABSTRACT: Recruitment, as a human resource management function, is one of the activities that impact most critically on the performance of any organization irrespective of its size and location. Public Universities, known to train professionals that exhibit transformative leadership and successfully run blue-chip companies have equally suffered from rampart industrial unrest and human resource malpractices across Kenya. Could it be a unique trend of organizational deviance that could be reflecting absence of a well executed staff recruitment practice? While it is understood and accepted that poor recruitment decisions continue to affect organizational performance and limit goal achievement, knowledge about this aspect in Public Universities remains scanty. The aim of this study was to address this gap by evaluating how recruitment practices affect performance of administrative staff in Public Universities using Masinde Muliro University of Science and Technology, Kenya as a case reference. A cross-sectional survey design was employed while sampling strategy was a blend of multiphase, stratified and purposive sampling. A sample size of 124 out of 1150 comprised mainly of administrative staff was used and that a questionnaire was the principal tool of data collection. Results were analyzed using frequency tables, mean, standard deviation and simple linear regression. The study found that a recruitment policy existed at Masinde Muliro University of Science and Technology, Kenya and that both external and internal recruitment practices were used to recruit employees at the University. However, it was noted that most of the university employees are recruited through media advert, internal advertisement, through transfers and promotions. The results of the regression indicated that recruitment practices are a significant predictor of employee performance, which was explained by 32% of variance and a moderate relationship captured by beta weight value of 0.57. On effectiveness of the recruitment policy, only 30% rated it as effective while 62% were indifferent and 8% rated it ineffective. The study concluded that although a significant relationship between recruitment practices and employee performance existed, it’s effectiveness and therefore positive impact on employee performance depended on employees’ positive perception and rating. It’s recommended that the Universities should avoid biasness in the recruitment process as this will negatively impact on employee performance.
Pesse Na Siri’ Budgetary System: A Historiography Study of Luwu Kingdom in Is...QUESTJOURNAL
ABSTRACT: This study aimed to explore the budgetary system of pesse na siri’ at Luwu kingdom in the Islamic period of 1593 to 1945. Through the historiography method, it showed the base existence of the spiritual sense sensitivity, i.e., pesse (empathy) and siri’ (shame) and Islamic law in budgetary system. In the resources management, it was carried out in four stages, namely planning, implementation, reporting, and evaluation. Operationally, the pesse na siri’ budgetary system on the mobilization mechanism of resources or budget (balanca) through the top down system (i.e., known as balanca pole riwawo) and bottom up system (i.e., known as balanca pole riawa). The top down system was a mobilization resource form from agricultural products of the king’s land (i.e., known in Buginese language as Tanana datue) and the palace logistic. Meanwhile, the bottom up came from the resource offer–i.e., known as makkasiwiyang–mechanism, consisting of makkasiwiyang lili’ (the lower government level), makkasiwiyang ale (personal/individual), and makkasiwiyang reso (labor). One of the Islamic impacts in this system was to direct the budgetary system based on the Shari’a or Islamic law.
Fabrication of Complete Dentures for A Patient with Resorbed Mandibular Anter...QUESTJOURNAL
ABSTRACT: The loose and unstable lower complete denture is one of the most common problems faced by denture patients with highly resorbed ridge. The management of such highly resorbed ridges has always posed a difficulty to the prosthodontist.Obtaining consistent mandibular denture stability has longbeen a challenge for dental profession. The simplest approach often is to extend the denture base adequately for proper use of all available tisues.To achieve this goal impression of the resorbed mandibular ridge is very important. The objective is to develop a physiologic impression with maximum support of both hard and soft tissues.In such cases, an innovative technique of impressionmaking by using a close fitting tray and anelastomeric impression material tomake a proper impression to achieve maximum retentionand stability.This article describes an impression technique used for highly resorbed mandibular ridge using an all green impression technique, to gain maximum retention andstability
Steganographic Technique Using Instant Messaging Conversation DynamicsQUESTJOURNAL
ABSTRACT : Steganography is considered to be not only the science but also the art of hiding secret messages into other innocuous and non-secret media of different types. History of steganography started with the history of civilization and algorithms of data hiding have been constantly developed with the rise of mankind's knowledge. Some of steganographic algorithms are so close connected to the use of digital media, computers and information technology, that those algorithms do not have analogy in non-digital world. It is possible to see the use of hard disk drives (HDD), solid state discs (SSD) and file systems for the purpose of steganography, or steganography in TCP/IP networks as the example. In this paper we are concentrating on such algorithm and we are examining the possibility of the use of dynamics of conversation realized with the use of instant messaging services, which are very popular standalone services or are part of widely used social networks like Facebook. The paper discusses the possibility of hidden message encoding by the use of different parameters of conversation dynamics and introduces new algorithm and its program implementation. The last part of the paper summarizes results of its experimental use.
Simple Obfuscation Tool for Software ProtectionQUESTJOURNAL
ABSTRACT: This paper discusses the issue of source code obfuscation and also the creation of a tool for automatic obfuscation of source code written in C language. The result is a tool that performs both data flow and control flow obfuscation and allows the user to configure the applied transformation algorithm. For easier and better usability the tool provides a graphical user interface, which brings possibility to control and configure transformation process.
Block Hybrid Method for the Solution of General Second Order Ordinary Differe...QUESTJOURNAL
ABSTRACT: We consider the construction of block hybrid method for the solution of general second order ODEs. Derivation of the method was based on the use of hermite polynomial as basis function. The main method and its additional equations are obtained from the same continuous formulation via interpolation and collocation procedures. The method is then applied in block form as simultaneous numerical integrator, this approach eliminates requirement for starting values, and it also reduces computational effort. The stability properties of the method is discussed and the stability region shown. Two numerical experiments were given to illustrate the accuracy and efficiency of the new method.
Modeling – Based Instructional Strategy for Enhancing Problem Solving Ability...QUESTJOURNAL
ABSTRACT: The modeling-based instructional framework accommodates the physics modeling mechanism in which the learner apply the fundamental principles in physics and develop an idealized physics model of the real world situation by means of assumptions and approximations. The present study was intended to find out the effectiveness of Modeling-based instructional strategy for enhancing physics problem solving ability of students at secondary school level. The investigator adopted a quasi-experimental method with two group pretest post-test design for the study. The sample selected for the study consisted of 242 IX standard students from three different schools of Palakkad district. The tools used for collecting the data were the Problem Solving Ability Test in Physics, lesson designs based on Modeling-based instructional strategy and activity oriented method. The findings of the study concluded that the Modeling-based instructional strategy enhanced the problem solving ability of students of secondary school level. And also the strategy scaffolded the formation of mental models of problem representations with in the cognitive structure of the learner.
Exploring the Effectiveness of the Arabic LanguageTeaching Methods in Indones...QUESTJOURNAL
ABSTRACT: The aim of this research work is to identify the effectiveness of the Arabic language teaching methods in Indonesia(National University of Malang for Sample)in terms of making use of Arabic as a medium of communication among the students in the light of the modern approaches in teaching and learning of Arabic language. This research is methodologically characterized as a descriptive, analytical, evaluative and field research work. In order to arrive at the purpose of this study, a questionnaire has been designed and carried out on a specimen from the teachers of the concerned university. Eventually, the study has arrived into a finding that the method used in the university is the Eclectic Method (i.e. Selective Method), except that translation is utilized extensively with it, and it might influentially cause the depreciation of the communication skill of the students, and the major intermediary language for the Arabic language teaching is the Indonesian language. However, its uncontrolled over-usage in the Arabic language teaching procedure may negatively cause the weakness of the students in the listening and speaking skills, since they could not get enough opportunity to practice them during language learning, in addition to the fact that the teachers might be employed as Arabic language teachers on the basis of their high conversance with the grammatical rules of Arabic language and not on their skills in the Arabic language communication medium.
The Teller & The Tales: A Study of The Novels of Amitav GhoshQUESTJOURNAL
ABSTRACT: The paper re-visit the plot and setting of the novels of Amitav Ghosh. The paper has two parts – (i)The Teller & (ii) The Tales. In the first section the text tries to give a brief sketch of the life of Amitav Ghosh to chornicle the life of the visionary commentator of life and the social anthroplogist , the most prominent among the Indian writers of English. In the second part the theme and storyline of the novels were revisted along with characters and narrative technique. The first section has been introduced to give an overview of the prolificness of the author and the second part is the testimony of his logocentricism. The paper aims to present the plot and theme of all Ghosh’s novels
ABSTRACT: The purpose of Larkin as literary artist was to convey his ultimate message that man has to transcend the gross environment for the attainment for final goal. His poem opens with important question which prompt us to scrutinize ourselves. According to Philip Larkin “when you come to talk about once duty as writer then ones can say that his duty is to write for harmony”. In this paper there an urge in Larkin’s poem to attain transcendental knowledge by which everything is known. The meaningful change in environment through literature result from the development of qualities and attitude that foster constructive pattern of human interaction through literature. In an age of highly industrialized and mechanized structure of our society where we have 'given our hearts away a sordid boon' and where all spiritual values have been thrown overboard, the relevance of selecting this topic "Spiritual Quest in Philip Larkin" becomes important. In Larkin's poetry there is invariably, an element of spiritual crises, a note of subsequent struggle to step out of it. This inner conflict to proceed forward in the path of Divine realization lends magnificence to his poetic and spiritual personality.
The Influence of Religiosity on Marital Satisfaction and Stability AmongChris...QUESTJOURNAL
ABSTRACT: Various studies indicate that religious couples are more likely to enjoy stable and happy marriages. They are also less likely to experience conflict and violence, or to divorce perhaps because religion offers couples theologically grounded guidelines on how to handle marital conflicts when they arise. The present qualitative study was conducted using face to face interviews with nine participants in Kenya who had been identified as practicing Christians. The aim of the study was to explore how religiosity impacted the participant’s marital satisfaction. Results indicated that specific attributes related to religiosity like individual and partner prayer, reading the Bible, church attendance, impacted participants and their spouses lives positively and in turn their experiences in marriage. Engaging in religious practices was reported by the participants as eliciting qualities like perseverance, forgiveness and humility which in turn assisted them in keeping their marriages stable and thus resulting in marital satisfaction
The SA0 Group Reservoir ’S Compositive Evaluation In The Central Developing P...QUESTJOURNAL
ABSTRACT: Using the data from logging in a net of high density, the sand core from a airtight well, and the testing data for oil and gas , and then according to the experiment of exploitation, we studied the deposit visage in macroscopical way, the physical characteristics of the reservoir, and the partition of the oil and gas’s border. It is clear that the zero group of Sa’s oil floor is mainly deposit in the foreside of a delta under the background of lake incursion, and the ventro-delta express a character that there were some sandstones which was transited for two times. Make a certain that the oil and gas’s border of zero group in Sa is maybe 600m underground, and demarcated the maximal square is 26.8km2 about this reservoir, and tell us that it lies in the top of the anticline. Of course, this production can be used in the designing of the zero group of Sa’s exploitation
Down the Purgatory of Memories:The Pain of Remembering in M alayalam Naxal Ci...QUESTJOURNAL
ABSTRACT:Keralam, the southern most state in India is known for its cinema and politics. It is in Kerala that Communist Party came to power through Parliamentary election process for the first time in history. The political consciousness nurtured by the Communist movement found its reflections in Malayalam (language being spoken by the people of Keralam) Cinema as well. As a result films produced during the formative years of Malayalam Cinema were characterized by their political content. Having said this it should also be added that since those films are produced within the dominant production system with a view to garner profit they fail to politically stimulate the audience. But the situation had been changed after the Naxalite (radical left movement ideologically inclined to Maoism) uprising in 1969 during which both the feudal/bourgeois value orientations and the alleged degeneration of the Communist Party were challenged by the educated radical youths who fought for an immediate revolution. The state promptly intervened and contained Naxalite uprising with an iron fist. The repressive machinery of the state intervened whenever instances of resistance occurred. The Emergency declared in 1975 exposed the inhuman face of government that unleashed series of tortures against its citizens. The post -1980 political films, otherwise called as Naxalite films, try to recapture the tormenting experience of being political during the time of such mass oppression. Those movies resort to memory to expose the stark experience of the past.Remembering is a way of representing the past with all its nuances as it situates the remembering subject at close proximity with the past. At the same time Naxalite movies explored the possibility of forgetting also to unveil the subtle complexities of individual's relationship with the past. Here I consider two Malayalam films-AmmaAriyan(1986) directed by John Abraham and Margam (2003) directed by Rajeev Vijayaraghavan- to investigate how memory and oblivion are meticulously used by the filmic narratives to politicize a society already under the grip of political amnesia.
Professional Competences: An Integrative Approach for Defining The Training C...QUESTJOURNAL
ABSTRACT: This paper offers an integrative proposal for Business Administrationcurricular programs. For that purpose, we have carried out a survey with teachers from upper Business Administration courses so as to select a group of key competences for the contemporary Administrator, which has allowed us to elaborate an integrative proposal of curricular program for the Business Administration scholars in Brazil. As a qualitative research, it consists of a multiple case study with empirical approach and a triangular analysis based on Moraes (2014).Its main objective has been to analyze the curricular programs from five higher education institutions in the state of Rio Grande do Sul and two other foreign institutions in South America. At first, we have asked ourselves the following question: How to adapt the Business Administration curricular program to the contemporary needs as far as the vocational training competences of Administrators are concerned?In order to answer it, we have analyzed the National Curriculum Guidelines (DCN) and the Political-Educational Projects of Business Administration Courses (PPC/CSA). After that, we have compared the Curricular Components (CC) of the Higher Education Institutions (HEIs) under analysis. After performing the triangular textual analysis of the DCN, PPC/CSA and CC of all HEIs under study, we have carried out a survey with 35 teachers from Business Administration upper courses through a computerized online questionnaire.We have sent a Survey Monkey link for a total of 40 teachers, however, only 35 answered it (87.5%); we have considered 100% valid answers. Previously, based on the doctrine of competences and curriculum according to the most renowned authors – suchas Vygostsky, Freire, Sacristán, Piaget, Saviani, Bloom, Libâneo (curriculum); Fleury & Fleury, Zarifian, Perrenoud, Lisboa (competences), among others – wehave concluded that implementing the integrative proposal will providemore well-prepared graduates from the Business Administration course right to the competitive and globalized labor market.
Resisting Total Marginality: Understanding African-American College Students’...QUESTJOURNAL
ABSTRACT: This article explores collegiate Black identity development when African American students attend predominantly White institutions (PWIs) in the United States, considering the overall impact of total marginality. The term “total marginality” is used to describe the myriad, chronic, and often inescapable ways that African American college students attending PWIs are marginalized in a college setting. The focus of this paper is the impact of total marginality on Black identity development for those African American collegians who successfully complete their university studies at a PWI.
Alternative dispute resolution and civil litigation barriers to access to jus...QUESTJOURNAL
ABSTRACT: Civil law is the predominate system of law in the world. Civil law as a legal system is often compared with common law. The main difference that is usually drawn between the two system is that common law drawn abstract rules from specific cases, whereas civil law with abstract rules which judges must then apply to the various cases before them. Civil law has its roots in Roman law, Common law and the Enlightenment, alongside influence from other religious laws such as Islamic Law. The legal system in many civil law countries are based around one or several codes of law which set out the main principles that guide the law. On the other hand, Criminal Law as offences and prescribes punishment for them. It not only precludes or prevents crimes but also punish the offender. It is necessary for the maintenance of law, order and peace within state. In criminal cases, it is the state which initiates proceeding against the offender. Laws relating to the Civil Proceeding as the Code of Civil Procedure 1908; the Civil Courts Act 1887; the Suit Valuation Act 1887; the Limitation Act 1908; the Registration Act 1908; & the Specific Relief Act 1877.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
Digital marketing is the art and science of promoting products or services using digital channels to reach and engage with potential customers. It encompasses a wide range of online tactics and strategies aimed at increasing brand visibility, driving website traffic, generating leads, and ultimately, converting those leads into customers.
https://nidmindia.com/
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
2. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 24 | Page
Managers at firms from emerging markets, as Fey et al (2016) comment, lacked the competences to develop
well-known global brands.
However, this traditional global competitive landscape started to change rapidly in recent years. Since
the 1990s, we have witnessed the proliferation of EMNEs in the global economy and they have become
significant players in the global trade and investment. Many of EMNEs were marginal competitors just a decade
ago, but, today, they are challenging some of the world‟s most accomplished and established Western MNEs in
a wide variety of industries and markets (Guillén& García-Canal, 2009). As Casanova and Miroux (2016) point
out, China has clearly been commanding the rising number of EMNEs, followed by Korea, India, Brazil, Russia,
Mexico, and Indonesia (in terms of the number of companies in the fortune Global 500). Although EMNEs have
become significant global players (Tsai & Eisingerich, 2012) in today‟s international trade and investment, it is
still unclear whether the existing theories on MNEs that have been developed based upon North American and
European multinationals are relevant to explain this new type of multinationals‟ behaviors and strategies. In
essence, EMNEshave adopted different types of entry modes and global expansion strategies from advanced
market multinationals in the process of internationalization. Therefore, through this paper, I try to elaborate the
behaviors and strategies that have been adopted by EMNEsin the course of internationalization to support the
theory building effortsamong international business scholars particularly in connection with EMNEs. In sum,
the traditional theories on MNEs based on the Western MNEs need to be amended to fully explain the
phenomenon of today‟s MNEs from emerging markets.
II. EMERGING MARKET MULTINATIONALS (EMNEs): CREATING NEW GLOBAL
COMPETITIVE LANDSCAPE
Traditionally and until recently, MNEs from advanced markets have led international trade and
investment. However, a number of multinationals from emerging markets today, such as Samsung and LG from
South Korea, Huawei and the State Grid Corporation from China, and Cemex from Mexico, are important
players in their respective industries and are setting a new competitive landscape in the global economy.
Casanova and Miroux (2016) define EMNEs as “multinationals headquartered in an emerging market
(p.40).”More specifically, Guillén and García-Canal (2009) define EMNEs as follows:
Since the 1990s, the global competitive landscape is becoming increasingly populated by MNEs
originating in countries that are not among the most advanced in the world. These “new” MNEs come from (a)
upper-middle income countries such as Spain, Portugal, South Korea, and Taiwan; (b) emerging economies
such as Brazil, Chile, Mexico, China, India, and Turkey; (c) developing countries such as Egypt, Indonesia, and
Thailand; and (d) oil-rich countries such as the United Arab Emirates, Nigeria, and Venezuela. (p.23)
Today, EMNEsare not only major players in their home country markets but also significant global
players (in advanced markets as well as in other emerging markets). These firms have pursued multiple entry
modes to penetrate other country markets, ranging from strategic alliances and joint ventures to wholly owned
subsidiaries and acquisitions. The role of EMNEs in today‟s global economy is increasing dramatically.
Emerging markets, today, are not only the recipients of FDI (i.e. inward FDI) but also the sources of FDI (i.e.
outward FDI) especially through their new multinationals.Based upon the report presented by Casanova and
Miroux (2016)that analyzes the Fortune Global 500 firms, 473 out of 500 firms (94%) in the list are concentrated
in seventeen (17) countries and five (5) countries (among these 17 countries) are considered as emerging markets
(i.e. China, South Korea, Brazil, India, and Russia). In specific, the respective number of firms in the Fortune
Global 500 from these five emerging markets is: China (98 firms), South Korea (17 firms), India (7 firms), Brazil
(7 firms), and Russia (5 firms).In addition to EMNEs from these five emerging markets, the Fortune Global 500
includes more EMNEs from nine (9) other emerging markets, including Mexico (3 firms) and Indonesia (2
firms). The analysis of the Fortune Global 500 firms reveals that MNEs from advanced markets still represent
themajority of the list. But, the rapid increase in the number of EMNEsin the listin recent years is notable.
Casanova and Miroux (2016) indicate that the increase in the number of EMNEs in the Fortune Global 500
began in 2004 and started to accelerate after the global financial crisis of 2008.
Especially, Chinese multinational firms have played an important role in creating this new global
competitive landscape. China has clearly been commanding the rising number of EMNEs with 98 firms in the
Fortune Global 500 in 2015, far ahead of any other emerging markets (Casanova &Miroux, 2016).While the
U.S. is still the world leader in the Fortune Global 500 with 128 firms (in 2015), China is ranked number two
(ahead of Japan, number three, with 54 firms). Casanova and Miroux (2016) further explain the following:
Since 2004, the number of Chinese companies classified as emerging multinationals has increased
more than five times. At this current growth rate (from less than 20 in 2005 to almost 100 in 2015), it would not
take China much time to surpass the United States as the country with the greatest number of companies by
revenue. In addition, if we consider the ten largest companies, China leads with three firms (the oil corporations
3. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 25 | Page
Sinopec and China National Petroleum, and the electrical State Grid), followed by the United States (2) with the
retail behemoth Wal-Mart and the oil giant Exxon Mobil… (p. 42)
In addition, twelve (12) out of top twenty (20) EMNEs (in terms of revenue) are Chinese firms,
followed by 3 firms from Russia, 2 firms from South Korea, and one firm each from Brazil, Mexico and
Malaysia (Casanova &Miroux, 2016).However, the surge of Chinese multinationals in recent years doesn‟t
mean that scholars in the field of international business can focus solely on firms from China. Although Chinese
multinationals have played an important role in creating today‟s new global competitive landscape, the analysis
of Fortune Global 500 firms shows that EMNEs, today, are represented by a wide variety of countries (there are
several emerging markets represented only by one firm in the list). While studying the differences in behaviors
and strategies in the process of internationalization between MNEs from advanced markets and MNEs from
emerging markets is important, comparing the differences among EMNEs from diverse countries is also critical
in analyzing today‟s global business environment.
III. INTERNATIONALIZATION OF EMERGING MARKET MULTINATIONALS
(EMNEs): THE NEW MODEL OF INTERNATIONALIZATION OF FIRMS
As discussed above, the number and presence of EMNEsin the global markets (both in advanced
markets and in emerging markets) have been increasing.But,many scholars argue that the internationalization
efforts of EMNEs have been successful when they adopted different strategies than MNEs from advanced
markets (e.g. Guillén& García-Canal, 2009; Luo & Tung, 2007; Fey et al., 2016). In other words, EMNEs have
pursued distinctive strategies and behaviors for the global expansion. In this regard, we can raise a critical
questionconcerning theories on MNEs: Are the traditional theories on internationalization of MNEs applicable
to multinationals from emerging markets?
The traditional theories on internationalization of MNEs have primarily been developed based upon
multinationals from advanced markets. Tsai and Eisingerich (2010) describe the following:
Existing theories on firms‟ internationalization processes mainly base on large Western multinational
enterprises (MNEs) and suggest that internationalization motives and behaviors can be largely explained by the
eclectic paradigm of Dunning, which states that firms enter foreign markets to exploit their existing competitive
advantages. Moreover, much of the early literature on firms‟ internationalization processes adopts an
incremental view, suggesting that firms gradually deepen their commitment and investment as they gain more
market experience in the process of internationalization. (p.114) Fey et al. (2016) also argue that the previous
dominant theories on internationalization of MNEs reflect the experiences of MNEs from advanced markets,
such as the U.S. and Europe, during the past few decades.Without doubt, EMNEs have different advantages and
disadvantages than MNEs from advanced markets in terms of internationalization, and, thus, face their own
unique challenges in the process of internationalization.From this perspective, it is important, and also timely, to
examine both whether the conventional theories can explain the internationalization efforts of EMNEs and
whether new theories specifically applicable to the behaviors and strategies of EMNEs are available.
3.1 Entry Modes
Concerning the entry modes adopted by firms to penetrate foreign markets, the traditional theories on
internationalization of MNEs suggest that firms internationalize „gradually‟ and „incrementally‟. For
instance,the so-called „Uppsala Model‟ (i.e. Johanson&Wiedersheim-Paul, 1975; Johanson&Vahlne, 1977)
suggests that “firms expand abroad on a country-by-country basis, starting with those more similar in terms of
socio-cultural distance…in each foreign country firms typically followed a sequence of steps: on-and-off
exports, exporting through local agents, sales subsidiary, and production and marketing subsidiary (Guillén&
García-Canal, 2009, p.26)”. In other words, the conventionaltheories on internationalization of MNEs contend
that “firms normally internationalize incrementally in a step-wise fashion increasing their commitments to
foreign markets as they gradually acquire, integrate, and are able to use knowledge about foreign markets (Fey
et al., 2016, p.134)”. An important proposition that follows from the conventional theories is that a firm tries to
expand abroad only when it is allowed by experience and knowledge.
In contrast, the literatures on EMNEs suggest that these new multinationals have tried to bypass some
of the steps (that have been pursued by MNEs from advanced markets)described above in their
internationalization efforts. Guillén and García-Canal (2009) assert that the entry modes of EMNEsdepend not
on internal growthbut on external growth. In specific, EMNEs use global alliances, joint ventures, and
acquisitions to “simultaneously overcome the liability of foreignness in the country of the partner/target and to
gain access to their competitive advantages with the aim of upgrading their own resources and capabilities
(Guillén& García-Canal, 2009, p.28)”.EMNEs have used global alliances to access to the partners‟ home
markets (and/or technologies), facilitating the reciprocal access of the partners to their home markets. That is,
4. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 26 | Page
global alliances (including joint ventures) have been widely adopted by EMNEs as one of the major entry
modes both in advanced and in emerging markets.
In addition, many scholars have discussed acquisitions as the preferred mode of entry by EMNEs (e.g.
Buckley et al., 2007; Peng, 2012).Some scholars have focused on the acquisitions particularly pursued by
Chinese MNEs to study the entry modes adopted by EMNEs in the process of internationalization. Guillén and
García-Canal (2009) assert that: “capability upgrading processes based on acquisitions have been possible in
some cases due to the new MNEs‟ privileged access to financial resources, because of government subsidies or
capital market imperfections, as illustrated by Chinese MNEs (p.28)”. Although acquisitions are not the only
mode of entry adopted by Chinese MNEs, they have been clearly a primary mode of entry for Chinese MNEs
(Sun et al., 2012). Peng (2012) explains why Chinese MNEs fond of acquisitions: first, the urgency for fast
market entry, especially in the areas of natural resources; second, the need to acquire existing world-class
brands in order to overcome a major weakness in Chinese MNEs‟ capabilities (i.e. weak branding prowess of
Chinese MNEs) and; third, managerial hubris and empire building. But, the success rate of global mergers and
acquisitions (M&A) by MNEs has not been so significant. Peng (2011, 2012) indicates that globally as many as
70% of the M&As fail and “the performance of Chinese overseas acquisitions is unlikely to be better than the
global average (Peng, 2012, p.101)”. Moreover, although this is not necessarily a problem of Chinese MNEs,
„integration‟ is a critical challenge in terms of a successful acquisition. Peng (2012) contends that “the lack of
internationally savvy managerial talents at Chinese MNEs gives us little confidence that these firms will do a
better job integrating acquired targets and generating value (p.101)”. Therefore, although Chinese MNEs have
aggressively adopted acquisitions as the preferred mode of entry, we need more empirical evidences to confirm
the success rate of Chinese firms‟ acquisitions in the global markets.
In sum, many EMNEs (especially Chinese MNEs) have adopted acquisitions as the preferred mode of
entry in their internationalization efforts and they could gain access to intangible assets through acquisitions.
But, the international expansion of EMNEs has also been pursued by global alliances (including joint ventures).
These global alliances have helped EMNEs gain access to critical resources and skills to compete against MNCs
from advanced markets. In other words, both acquisitions and global alliances have been critical for EMNEs to
build their own competitiveness to cope with MNEs from advanced markets. From this perspective, Guillén and
García-Canal (2009) comment that the international expansion of EMNEs runs in parallel with the process of
upgrading their capabilities.
3.2 Motivations
Why firms want to expand internationally (i.e. motivations) have been documented in the literature.
The most classic theory of motivation might be Dunning‟s eclectic (OLI) paradigm (1981). Dunning (1981)
suggests three important rationales explaining MNEs‟ internationalization: ownership, location, and
internationalization. Other motives of internationalization have also been examined extensively in the literature.
Dunning (1988) and Rugman (2009) introduced the motivation of „knowledge seeking‟, considering the issues
such as learning best practices, efforts to gain market knowledge, actions to develop social and business
networks, and the applicability of unique home country capabilities (Fey et al., 2016). Vernon (1966) and Park
and Lee (2003) suggested the motivation of „new market seeking‟, analyzing the issues such as market size,
following clients, and entering adjacent markets (Fey et al., 2016). In addition, Vernon (1966) and Walkenhorst
(2004) proposed the motivation of „efficiency seeking‟, covering the issues such as cheaper resources (like labor
and raw materials), lower tariffs, tax incentives from the home government, and worldwide production
synergies (Fey et al., 2016).
But, somescholars have argued that the traditional literature on motivations of MNEs‟
internationalization is insufficient to fully explain the motivations of EMNEs‟ internationalization, because the
conventional literature has been developed reflecting mainly the perspectives of MNEs from advanced
markets.Guillén and García-Canal (2009) summarize specifically the major motivations of EMNEs‟
internationalization in the extant literature. Among these motivations, the authors (2009) focus more on the
motivations of the „backward linkage into raw materials‟ and the „forward linkage into foreign markets‟ and
describe these motivations as follows: “scholars documented and readily explained the desire of some of the
new MNEs to create backward linkages into sources of raw materials or forward linkages into foreign markets
in order to reduce uncertainty and opportunism in the relationship between the firm and the supplier of the raw
material, or between the firm and the distributor or agent in the foreign market (pp.28-29)”. The World
Investment Report presented by the UNCTAD (2006) also points out that many of emerging market firms
became MNEs (especially in the extractive and manufacturing sectors) when they internalized backward or
forward linkages. In addition, scholars found that the home country government curbs (i.e. the growth
restrictions imposed by the government in its domestic market) motivate emerging market firms to
internationalize (Lall, 1983; Wells, 1983; UNCTAD, 2006). In other words, “in many developing and newly
industrialized countries, limitations such as licensing systems, quota allocations, and export restrictions kept
5. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 27 | Page
firms from having enough growth opportunities at their disposal, hence the desire to expand abroad (Guillén&
García-Canal, 2009, p.29)”. This type of motivation is in connection not only with economic aspiration of
emerging market firms but also with political instability in many emerging markets.
Fey et al. (2016) summarize five key reasons driving emerging market firms‟ internationalization.
First, obtaining technology, and, second, obtaining brands are important motivations for emerging market firms‟
internationalization efforts. Third, many EMNEs decide to internationalize to diversify risks. As Dau (2012)
comments, emerging markets are rather risky places for business because of their rapidly changing
environments (such as unexpected political/legal, economic, social, and technological events). Thus,
diversifying risks in their domestic markets, through internationalization, has motivated emerging market firms
to go abroad. Fourth, emerging market firms are motivated to go abroad to become larger. In general, it is
important for emerging market firms to go abroad to grow further. But, Fey at al. (2016) contend that “not all
industries are the same, and thus firms need to consider how important economies of scale and other benefits of
internationalization are for a particular industry (p.133)”. Lastly, emerging market firms pursue international
expansion to obtain raw materials. Luo and Tung (2007) argue that the state-owned enterprises from China and
India often pursue international expansion to obtain raw materials for their own operational needs and, also, for
the growing demand for the same materials at home.
3.3 Markets
The markets that have been pursued by EMNEs are often different from those that have been pursued
by MNEs from advanced markets. Although the international product life cycle theory (Vernon, 1966) can
explain the markets that have been chosen by MNEs from advanced markets, this theory cannot fully explain
the markets that have been chosen by EMNEs. In general, EMNEs expand into new markets that have smaller
cultural, institutional, and geographic distance, considering simultaneously the factors such as lower tariff rates,
cheaper resources, larger market size, easier acquisition possibilities, and less competition (Fey et al.,
2016).However, it is also important to note that EMNEs, as discussed below, have sometimes expanded into
physically or economically distant countries before entering more proximate and similar countries (Ramamurti,
2009, p.44) Emerging markets have been studied in terms of the institutional voids that represent
underdeveloped, weak institutions and frequent (sometimes, unexpected) environmental shift. In other words,
firms doing business in emerging markets should response to unpredictable, frequent shocks such as political
instability, violence, macroeconomic fluctuations, and even war (Gao et al., 2017). Moreover, it is hard for
firms operating in emerging markets to get benefits (e.g. market information) from specialized local
intermediaries. Because of these institutional voids, MNEs from advanced markets find it difficult to do
business in emerging markets.Fey et al. (2016) argue the following:
Many of the operating practices Western MNCs (from here on referred to as MNCs) use are built
around the existence of well-developed market institutions and a more stable environment. For example, MNCs
from developed countries frequently use market research firms to provide detailed insights into consumer
preferences to help them design products…Those MNCs are also used to a well-functioning banking sector to
provide suppliers, distributors, and customers with loans. Having logistics companies for product distribution is
also built into many MNCs‟ strategies. Those noted above and other institutions are often poorly developed in
transforming economies causing problems for MNCs. (p.135) In contrast, EMNEs have been doing business
under the environments with the institutional voids and, thus, they have adopted strategies to cope with these
institutional voids. In essence, EMNEs can be considered as having a competitive advantage against MNCs
from advanced markets in terms of dealing with the institutional voids. In this regard, Puffer et al. (2013)
contend that it is often beneficial for emerging market firms to initially expand into other emerging markets,
since these markets are less competitive, similar to the emerging market firms‟ home markets, and MNCs from
advanced markets are vulnerable in terms of dealing with the institutional voids. EMNEs can develop
international business skills and elaborate competitive advantages in other emerging markets and, then, can
expand into highly competitive advanced markets that are very different from their domestic markets. The study
conducted by Fey at al. (2016) shows that many EMNEs (e.g. Huawei, Skyworth) have been successful by
following the strategy of initial international expansion into other emerging markets and, then, into advanced
markets. However, again, we should note that there have been exceptions.That is, some EMNEs have expanded
into physically or economically distant countries (like advanced markets) before entering other emerging
markets.
3.4 Patterns of Expansion
The World Investment Report (2006) indicates that, depending on home country, EMNEs (particularly
in terms of outward FDI) have tended to emerge from certain industries and not others. For instance, firms from
South Korea have concentrated in automobile, consumer electronics, and IT (e.g. semi-conductor, smart phone,
etc.) industries and firms from Brazil have concentrated in automotive and aerospace industries. This
6. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 28 | Page
phenomenon (a pattern of expansion) has upgraded EMNEs to compete successfully even in the most
competitive markets in the world. Guillén and García-Canal (2009) argue that this pattern of expansion has
made EMNEs accumulate “intangible assets that have enabled them to successfully compete through
internalized exports and horizontal investments even in the most advanced countries in the world (p.32)”. The
traditional theories on internationalization (e.g. product life cycle) can explain some of the patterns of EMNEs‟
international expansion. That is, EMNEs have tended to initially internationalize targeting overseas markets
located within the same region (Wells, 1983; Lall, 1983; Goldstein, 2007; Guillén& García-Canal, 2009). Then,
when EMNEs try to expand beyond their home regions, they have tended to focus on overseas markets similar
to their domestic markets in terms of socio-cultural, political, and/or economic environment. One good example
of this pattern is Spanish firms‟ expansion into Latin American markets. However, there are exceptions to this
pattern. Guillén and García-Canal (2009) point out that “notable exceptions to this pattern have to do with
investment in search of strategic assets (Goldstein, 2007, pp. 85-87) and the rapid pace at which they have
expanded their global reach (Mathews, 2006) (p.33)”.
3.5 Strategies
The extant research reveals the strategies that have been adopted by EMNEs in the process of
internationalization. Since expanding into overseas markets is very challenging for firms (particularly for firms
from emerging markets), choosing the right strategies is critical to be successful in the internationalization
process. Some of the important EMNES‟ strategies identified by the extant literature are introduced.
3.5.1 Overcoming Negative Country of Origin Perception (or Image)
First, one of the major challenges faced by EMNEs when they initially start to expand into overseas
markets might be overcoming negative perception (or image) associated with their country of origin, such as
„made in China‟ or „made in India‟. Scholars have contended that EMNEs “usually face a „double hurdle‟ of the
liability of foreignness and the liability of country of origin due to the perceived poor image of their home
countries in most cases (Chang & Taylor, 1999; Chang, Mellahi& Wilkinson, 2009; Ferner, Almond & Colling,
2005). Although the country of origin label can, eventually, become the sign of quality product/service (e.g.
when we compare American consumers‟ perception on „made in Japan‟ in the 60s and 70s with that perception
today) and, also, although many EMNEs deserve a better perception (or image) in terms of the quality of
product/service, EMNEs have found that it is extremely difficult to build a significantly better perception of
their products or services than their country of origin imageon the part of foreign consumers. Fey at al. (2016)
identify the strategies that have been used by EMNEs to overcome this negative country of origin perception.
Among diverse strategies, the most effective strategy was “to show that a firm was very quality focused and
obtained international quality certificates like ISO 9000 (Fey et al., 2016, P.136)”. In other words, obtaining an
international quality certificate such as ISO 9000 could help EMNEs reduce effectively foreign consumers‟
negative country of origin perception.Some EMNEs (e.g. Huawei) also have employed consulting firms to
improve the negative country of origin perception. Lastly, severalEMNEs, like Ranbaxy from India, “have
come to appreciate that seeing is believing and as a result have gone to great effort and considerable cost to
bring potential and existing customers to see their factories in order to combat the negative country image
problem (Fey at al., 2016, p.136)”.
3.5.2 Acquiring Foreign Brands and Technology
As discussed above in the Motivations section, obtaining brands and technology has been an important
motivation for EMNEs‟ internationalization efforts. In other words, many EMNEs have benefited from using
foreign firms‟ brand names (brand names from advanced market firms) through either branding products in
collaboration with foreign firms or purchasing foreign firms. EMNEs‟ acquisition of foreign brands could
promote the positive image of emerging market firms‟ products both domestically and internationally. Fey et al.
(2016) support this EMNEs‟ strategy as follows: “Foreign companies had a perception that any Chinese
company that could purchase a U.S. firm must have much to offer and be serious about quality. The acquired
technology itself was also useful, especially in facilitating DMTG‟s successful expansion into the
quality/technology-focused automobile industry (p.136)”.
3.5.3 Investing in Research and Development (R&D)
Many EMNEs have shown that investing in R&D is strategically important to compete with firms from
advanced markets. Although most EMNEs have suffered from technological disadvantages compared to firms
from advanced markets, it has been hard for EMNEs to change the situation for many years. However, EMNEs
are increasingly realizing that they should acquire more R&D capabilities to compete with advanced market
multinationals in international markets.
Fey et al. (2016) introduce the strategies that have been adopted by EMNEs for this R&D investment.
First, EMNEs have found that they can compete with MNEs from advanced markets in terms of technology
7. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 29 | Page
since their R&D investment is not so costly compared to that of MNEs from advanced markets. Specifically,
Fey et al. (2016) describe that EMNEs “have found that they can hire key technical personnel much cheaper
than in West, sometimes for as little as 20% of the cost, and that these employees are normally prepared to work
more than their Western counterparts (p. 137)”. In addition, Fey et al. (2016) further argue that “while in some
cases it is hard to find enough experienced management, there is an abundance of highly skilled technical
personnel in Russia, China, and India who are eager to find an organizational culture that will allow them to
fully unleash their creativity and potential (p. 137)”. Therefore, it has been possible for EMNEs to invest in
R&D to catch up MNEs from advanced markets. For instance, some EMNEs, such as Ranbaxy (from India),
ZTE (from Chinese), and Huawei (from Chinese), have shown that although they have done most of their R&D
investments at home saving the cost, they have still benefited from the latest technologies by having small R&D
labs in advanced markets around the world.
3.5.4 Growing Quickly in International Markets
Most EMNEs‟ internationalization efforts have revealed that the first steps of their internationalization process
were the most difficult (Xing et al., 2014; Zhou &Guillén, 2015) and, after acquiring some international
experience, the process became much easier. In essence, the difficulty experienced by EMNEs during the first
steps of internationalization process is associated with the „employee attention‟. Fey et al. (2016) explain how
the „employee attention‟ can affect EMNCs‟ internationalization as follows:
Employee attention is one of the items that is in shortest supply in such circumstances, and keeping
attention is difficult since employees like to see quick results or they may lose interest. Thus, when international
sales of a company account for only 2% of sales and much effort is needed to grow them, it is hard to attract
employee attention. Several companies mentioned the importance of quickly growing to the point where
approximately 15% of sales are international, and that employees realize this is an important part of company
activity and worth their attention. For example, a senior manager at Huawei recalled how when the firm started
its international activity, many employees doubted if it could be successful abroad…Once those sales got to be
about 15%, most employees were convinced that international sales were important and worth focusing energy
on since they served to fuel company growth. (p.137)
IV. CONCLUSION:NEW THEORIES ON THE INTERNATIONALIZATION OF
EMERGING MARKET MULTINATIONALS (EMNEs)
The modern MNEs originated from the Western world during the second industrial revolution of the
late 19th century (Guillén& García-Canal, 2009). Firms from the U.K., North America, and Europe have
expanded into global markets based on superior intangible assets such as technology and well-known brands.
Later, during the 1970s and 1980s, Japanese MNEs started to rise in the global markets. These conventional
MNEs originated from advanced markets, that is, rich and technologically advanced countries. These MNEs
used to share some core features of competitive advantages. In specific, Guillén and García-Canal (2009) point
out that these MNEs‟ core set of features were “their technological marketing, and managerial strengths, which
enabled them to overcome the so-called the liability of foreignness in a variety of markets, investing for the
most part in wholly or majority-owned subsidiaries, transferring technology, products, and knowledge from
headquarters to far-flung operations around the globe, and relying on elaborate bureaucratic and financial
controls (p.23)”.
The conventional global competitive landscape started to change since the 1990s with the emergence of
MNEs from emerging markets. As discussed above, emerging market multinationals have adopted multiple
entry modes for internationalization such as global alliances, joint ventures, and acquisitions (wholly owned
subsidiaries). While some of these MNEs are small and focus on single industry, others are large and pursue
product diversification across multiple industries. As Guillén and García-Canal (2009) comment, “while they
may not possess the most sophisticated technological or marketing skills in their respective industries, they have
expanded around the world in innovative ways (p.24)”. In essence, an increasing number of scholars and
practitioners are focusing on emerging market multinationals since these firms have become key players in the
global markets today, both in advanced and emerging markets, in terms of outward FDI, global alliances and
joint ventures, and cross-border acquisitions.
In this regard, it is very timely and critical to question whether the extant theories on
internationalization of MNEs that have been developed mainly observing MNEs from advanced markets are
relevant to explain the behavior and strategies of EMNEs. There is no consensus among scholars concerning this
question. Some scholars argue that EMNEs are new and different MNEs from traditional advanced market
MNEs and, thus, can be explained by new theories (Mathews, 2002). Others argue that the extant theories like
Dunning‟s eclectic paradigm (OLI model) is pertinent to explain the behaviors and strategies of EMNEs
(Narula, 2006). In addition, there are scholars who argue that neither perspective is right: that is, “the truth is
8. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 30 | Page
somewhere in between and that the real challenge is to discover which aspects of existing theory are universally
valid, which aspects are not, and what to do about the latter (Ramamurti, 2012, p.41)”. I agree with Ramamurti
(2012)‟s perspective. As discussed above (EMNEs‟ internationalization efforts including motivations, entry
modes, and strategies), some of EMNEs‟ internationalization efforts can be explained through the existing
theories on internationalization of MNEs. Therefore, although we need to develop new theories to explain
internationalization efforts specifically appropriate to EMNEs, we also need to identify which aspects of the
extant theories on internationalization of MNEs are universally valid.
For instance, we need to confirm whether the existing theories on how firms are internationalizing are
appropriate to explaining EMNEs‟ internationalization process. According to the stages model of
internationalization proposed by Johanson and Vahlne (1977), “firms internationalize gradually, with learning
between stages of expansion and increasing commitment to host countries if things go well (p.44).” The authors
(1977) also argue that firms are assumed “to expand first to countries similar to the home country before going
to dissimilar countries (p.44)”.In addition, Vernon‟s product cycle theory (1966, 1979) hypothesize that FDI
flows from developed to less developed economies. In other words, FDI flows from less developed to developed
economies are not assumed. Are these traditional theories relevant to explain the behaviors and strategies of
EMNEs‟ internationalization efforts?
The literature on the internationalization of EMNEsreveal that they have internationalized in different
ways from the conventional theories articulate. Scholars have argued that EMNEs have internationalized at a
much faster pace than the conventional theory (e.g. the stages model of internationalization) describes
(Mathews, 2002; Guillén and García-Canal, 2009).The different global business environment in which EMNEs
have internationalized can explain this phenomenon. Williamson and Zeng (2009) contend that the rapid
internationalization of EMNEs is the result of the changes in the global business environment in which the
world has become flatter, making it easier for firms to obtain resources they need to internationalize. In addition,
EMNEs have targeted different foreign markets during their internationalization process from the traditional
theories elaborate. That is, “they have expanded into physically or economically distant countries before
entering more proximate and similar countries (Ramamurti, 2009, p.44)”.Ghemawat (2007) argues that EMNEs
invest in physically or economically distant countries because their strategies are based upon exploiting
differences rather than similarities. Moreover, EMNEs have invested more in advanced markets than in other
emerging markets (Ramamurti, 2009). This phenomenon contradicts to the conventional theory (e.g. the product
cycle theory) because the internationalization of EMNEs has shown that FDI flows not only from developed to
less developed economies but also from less developed to developed economies.
I argue that scholars should focus more on the different nature of EMNEs from advanced market
MNEs in terms of internationalization. In other words, while EMNEshave tried to follow some aspects of
internationalization efforts pursued by MNEs from advanced markets, they have been forced to be innovative to
meet the different needs that stem from the emerging market-specific environments. Above all, the context from
which EMNEs are originated is characterized by the so-called „institutional voids‟.Guillén and García-Canal
(2009) point out that “the new MNEs have emerged from countries with weak institutional environments,
property rights regimes, legal systems, and so on (p.33)” and, thus, “experience in the home country was
especially valuable for the new MNEs because many countries with weak institutions are growing fast, and
these MNEs developed the capabilities to compete in such challenging environments (p.33)”.
Interestingly, MNEs from advanced markets have adopted some of the behaviors and strategies
pursued by EMNEs. For example, some industries, such as steel, consumer electronics, IT (e.g. smartphone,
tablet PC), banking, and infrastructure, are becoming more and more competitive because of the participation of
EMNEs. Thus, MNEs from advanced markets are becoming much less dependent on conventional
internationalization strategies such as product differentiation and vertical integration. In addition, as Guillén and
García-Canal (2009), comment, the rise of networked organizations and the extensive shift toward outsourcing
show how MNEs from advanced markets response to the challenges posed by EMNEs.
When we consider all these developments associated with EMNEs in today‟s global business
environment, the conventional theories on internationalization of MNEs has limited validity.Guillén and García-
Canal (2009) contend that:
In effect, globalization, technological change, and the coming of emerging countries have facilitated
the rise of a new type of MNE in which foreign direct investment is driven not only by the exploitation of firm-
specific competencies but also by the exploitation of new patterns of innovation and ways of accessing markets.
In addition, the new MNEs have expanded rapidly, without following the gradual staged model of
internationalization. (p.33-34) However, this doesn‟t mean that all the conventional theories on MNEs‟
internationalization are irrelevant to explain the behaviors and strategies of EMNEs. As discussed above, some
aspects of the existing theories are universally valid both for MNEs from advanced markets and for MNEs form
emerging markets. Therefore, we should elaborate new theories to explain the behaviors and strategies peculiar
to EMNEs‟ internationalization process. Namely, the lack of the conventional theories should be amended.
9. Emerging Market Multinationals: the New Model of Internationalization of Firms
Corresponding Author*Hyuk Kim, Ph.D. 31 | Page
Lastly, although studying the differences in behaviors and strategies in the process of
internationalization between MNEs from advanced markets and MNEs from emerging markets is important,
comparing the differences among EMNEs from diverse countries is also critical in analyzing today‟s global
business environment. Future research should reveal the different internationalization efforts among EMNEs
from various countries.
REFERENCE
[1]. Buckley, P.J., Clegg, L.J., Cross, A.R., Liu, X., Voss, H. and Zheng, P. (2007). The Determinants of Chinese Outward Foreign
Direct Investment, Journal of International Business Studies, 38, 499-518.
[2]. Casanova, L. and Miroux, A. (2016). Emerging Market Multinationals Report (EMR) 2016, Johnson Cornell University Emerging
Market Institute.
[3]. Chang, E. & Taylor, M.S. (1999). Control in Multinational Corporations (MNCs): The Case of Korean Manufacturing Subsidiaries,
Journal of Management, 25, 541-565.
[4]. Chang, Y.Y., Mellahi, K. & Wilkinson, A. (2009). Control of Subsidiaries of MNCs from Emerging Economies in Developed
Countries: The Case of Taiwanese MNCs in the UK, International Journal of Human Resources Management, 20, 75-95.
[5]. Dau, L.A. (2012). Pro-Market Reforms and Developing Country Multinational Corporations, Global Strategy Journal, 2, 262-276.
[6]. Dunning, J. (1981). The Eclectic Theory of the MNC, London, England: Allen & Unwin.
[7]. Dunning, J. (1988). Multinationals, Technology, and Competitiveness, London, England: Allen & Unwin.
[8]. Ferner, A., Almond, P. & Colling, T. (2005). Institutional Theory and the Cross-National Transfer of Employment Policy: The Case
of “Workforce Diversity” in US Multinationals, Journal of International Business Studies, 36, 304-321.
[9]. Fey, C.F., Nayak, A.K.J.R., Wu, C. and Zhou, A.J. (2016). Internationalization Strategy of Emerging Market Multinationals: A Five
M Framework, Journal of Leadership & Organizational Studies, 23(2), 128-143.
[10]. Gao, C., Zuzul, T., Jones, G. & Khanna, T. (2017). Overcoming Institutional Voids: A Reputation-Based View of Long Run
Survival, Working Paper 17-060, Harvard Business School.
[11]. Goldstein. A. (2007). Multinational Companies from Emerging Economies, New York: Palgrave Macmillan.
[12]. Guillén, M.F.and García-Canal, E. (2009). The American Model of the Multinational Firm and the “New” Multinationals From
Emerging Economies, Academy of Management Perspectives, 23(2), 23-35.
[13]. Johanson, J. &Vahlne, J.-E. (1977). The Internationalization Process of the Firm: A Model of Knowledge Development and
Increasing Foreign Market Commitments, Journal of International Business Studies, 8, 23-32.
[14]. Johanson, J. &Wiedersheim-Paul, F. (1975). The Internationalization of the Firm: Four Swedish Cases, Journal of Management
Studies, October, 305-322.
[15]. Lall, S. (1983). The New Multinationals, New York, Wiley.
[16]. Luo, Y. and Tung, R.L. (2007). International Expansion of Emerging Market Multinationals: A Springboard Perspective, Journal of
International Business Studies, 38, 481-498.
[17]. Mathews, J.A. (2002). Dragon Multinationals: A New Model for Global Growth, Oxford University Press: New York.
[18]. Mathews, J.A. (2006). Dragon Multinationals, Asia Pacific Journal of Management, 23, 5-27.
[19]. Narula, R. (2006). Globalization, New Ecologies, New Zoologies, and the Purported Death of the Eclectic Paradigm, Asia Pacific
Journal of Management, 23(2), 143-151.
[20]. Park, B. & Lee, K. (2003). Comparative Analysis of Foreign Direct Investment in China: Firms form South Korea, Hong Kong, and
the United States in Shandong Province, Journal of the Asia Pacific Economy, 8, 57-84.
[21]. Peng, M.W. (2011). Global Business (2nd ed.). South-Western Cengage Learning: Cincinnati, OH.
[22]. Peng, M.W. (2012). The Global Strategy of Emerging Multinationals from China, Global Strategy Journal, 2, 97-107.
[23]. Puffer, S.M., McCarthy, D.J., Jaeger, A.M. & Dunlap, D. (2013). The Use of Favors by Emerging Market Managers: Facilitator or
Inhibitor of International Expansion? Asia Pacific Journal of Management, 30, 327-349.
[24]. Ramamurti, R. (2012). What is Really Different About Emerging Market Multinationals? Global Strategy Journal, 2, 41-47.
[25]. Rugman, A.M. (2009). The Oxford Handbook of International Business, Oxford, England: Oxford University Press.
[26]. Sun, S.L., Peng, M.W., Ren, B. and Yan, D. (2012). A Comparative Ownership Advantage framework for Cross-Border M&AS:
The Rise of Chinese and Indian MNEs, Journal of World Business, 47, 4-16.
[27]. Tsai, Huei-Ting and Eisingerich, A.B. (2010). Internationalization Strategies of Emerging Market Firms, California Management
Review, 53(1), 114-135.
[28]. UNCTAD (United Nations Conference on Trade and Development). (2006). World Investment Report 2006, New York: United
Nations.
[29]. Vernon, R. (1966). International Investment and International Trade in the Product Cycle, The Quarterly Journal of Economics, 80,
190-207.
[30]. Vernon, R. (1979). The Product Cycle Hypothesis in a New International Environment, Oxford Bulletin of Economics and
Statistics, 41(4), 255-267.
[31]. Walkenhorst, P. (2004). Economic Transition and the Sectoral Patterns of Foreign Direct Investment, Emerging Markets Finance
and Trade, 40(2), 5-26.
[32]. Wells, L.T. (1983). Third World Multinationals: The Rise of Foreign Investment from Developing Countries, Cambridge, MA: The
MIT Press.
[33]. Williamson, P. & Zeng, M. (2009). Chinese Multinationals: Emerging through New Gateways. In Emerging Multinationals in
Emerging Markets, Ramamurti R., Singh J.V. (eds), Cambridge University Press: Cambridge, U.K.: 81-109.
[34]. Xing, Y., Liu, Y., Tarba, S.Y. & Cooper, C.L. (2014). Intercultural Influences on Managing African Employees of Chinese Firms in
Africa: Chinese Managers‟ HRM Practices, International Business Review, 25, 28-41.
[35]. Zhou, N. &Gullién, M.F. (2015). From Home Country to Home Base: A Dynamic Approach to the Liability of Foreignness,
Strategic Management Journal, 36, 907-917.
*Hyuk Kim, Ph.D. "Emerging Market Multinationals: the New Model of Internationalization of
Firms." Quest Journals Journal of Research in Business and Management 5.4 (2017): 23-31.