The Global Footprint of Emerging Market Firms
Over the last decade the rapid international expansion of firms from emerging markets has generated a lot of interest among management scholars. In this talk I address the question why some firms from emerging markets are more successful at internationalizing than others. To answer that question I use the knowledge-based view of the firm. I argue that although the international expansion of firms from emerging markets seems to have happened at an unprecedented speed it actually took place in only those firms that were preparing for international expansion over a period of years. Specifically, I propose that the firms which have internationalized successfully have had a greater level of preparedness for international expansion. A greater level of preparedness is achieved through preparation of people and preparation of practices: i.e., having people with knowledge of foreign markets and institutions, and by adopting and implementing international business practices.