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Multinationals must learn local lessons Policy of “one global strategy” is inadequate for emerging markets

Multinationals must learn local lessons Policy of “one global strategy” is inadequate for... Purpose – The aim of this article is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – The briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – A few years ago a television advertisement by one of the major British banks offered a slightly patronizing view of its work in developing countries. The theme was that an understanding of local customs and traditions was one of the most valuable inroads to offering a good service there. Despite the whiff of sanctimony, there is obviously some truth in this. Many mistakes must have been made – and doubtless continue to be made – by Western multinational companies whose prime motivation in trying to crack emerging markets was the growth potential, unsweetened by any consideration that they are dealing with an entirely different culture and economy. Practical implications – The article provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Social implications – The article provides strategic insights and practical thinking that can have a broader social impact. Originality/value – The article can save busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Strategic Direction Emerald Publishing

Multinationals must learn local lessons Policy of “one global strategy” is inadequate for emerging markets

Strategic Direction , Volume 28 (10): 4 – Sep 14, 2012

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Publisher
Emerald Publishing
Copyright
Copyright © 2012 Emerald Group Publishing Limited. All rights reserved.
ISSN
0258-0543
DOI
10.1108/02580541211268438
Publisher site
See Article on Publisher Site

Abstract

Purpose – The aim of this article is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies. Design/methodology/approach – The briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – A few years ago a television advertisement by one of the major British banks offered a slightly patronizing view of its work in developing countries. The theme was that an understanding of local customs and traditions was one of the most valuable inroads to offering a good service there. Despite the whiff of sanctimony, there is obviously some truth in this. Many mistakes must have been made – and doubtless continue to be made – by Western multinational companies whose prime motivation in trying to crack emerging markets was the growth potential, unsweetened by any consideration that they are dealing with an entirely different culture and economy. Practical implications – The article provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Social implications – The article provides strategic insights and practical thinking that can have a broader social impact. Originality/value – The article can save busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.

Journal

Strategic DirectionEmerald Publishing

Published: Sep 14, 2012

Keywords: China; Innovation; Product development; Corporate strategy; International business; National cultures

References

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