2nd Edition
Business in Latin America Strategic Opportunities and Risks
Business in Latin America provides readers with a comprehensive overview of the business environment of this dynamic and challenging region. The book begins with an overview of the most important macroenvironments shaping the region’s opportunities and risks, while the second part focuses on the business strategies that respond to those opportunities and risks. Capturing the dynamism of this region, this new edition provides a thorough and nuanced understanding of the commonalities and differences within the multifaceted business environments of Latin America.
The second edition has been thoroughly revised and updated to include:
- The sources of economic, political, and natural risks, including the impact of COVID-19
- The endemic role of corruption in institutions, the economy, and society
- The region’s cultural and social diversity and resilience
- The role of technology and digitalization on corporate and marketing strategies
- The challenges of managing local and regional supply chains
The book includes examples and cases from across the region on corporate strategies, marketing, entrepreneurship, leadership, human resource management, and social and environmental sustainability. An ideal resource for anyone considering a business venture in the region, the book will especially appeal to practitioners and students who have a particular interest in Latin America.
Introduction
Part 1: The Business Environment in Latin America
1. The Economic Environment of Latin America
Introduction
Latin America’s Economic Performance from 2000 to Present
Latin America’s International Trade
Foreign Direct Investment in Latin America
Latin America’s Recovery Post-COVID: Toward a Socially Inclusive and Environmentally Responsible Growth Model
Summary
2. The Political and Legal Environment of Latin America
Introduction
A Snapshot of the Political Environment in Latin America
Democracy at Risk
Renewed Populism and Authoritarianism
The Institutional Environment
Corruption in Latin America
The Regulatory Environment of Latin America
Summary
3. The Competitive Environment of Latin America
Introduction
The Global Competitiveness of Latin America
Latin America’s Role in Global Supply Chains
The Structure of Competition in Latin America
Summary
4. Demographic Transitions and Population Dynamics in Latin America
Introduction
Latin America’s Demographic Transition
Migration Flows
Race and Ethnicity in Latin America
Education
Urbanization
Housing and Households
Health Status of Latin America
Summary
5. The Sociocultural Environment of Latin America
Introduction
Latin American Culture
Latin American Business Culture
National Business Cultures in Latin America
The Impact of Culture on Leadership
Women Leaders in Latin America
Managing Talent in in Latin America
Summary
6. Business Risks and Uncertainty in Latin America
Introduction
A Framework to Understand Business Risk and Uncertainty
Economic Risks
Political Risks
Corruption
Crime and Violence
Societal Risks
Natural and Climate Change Risks
Summary: Many Risks, but Also Opportunities
Part 2: Business Strategies for Latin America
7. Marketing Strategies for Latin American Consumer Markets
Introduction
An Overview of the Latin American Consumer Market
Understanding Latin American Consumers’ Values
Segmenting the Latin American Consumer Market
Building a Relevant Brand in Latin America
Pricing Strategies for Latin American Consumer Markets
Communication Strategies for Latin American Consumer Markets
Omnichannel Strategies for Latin America
Summary
8. Company Strategies for Firms from Outside the Region
Introduction
MNC's Challenges and Competitive Advantages in Latin America
MNC Regional Strategy in Latin America
A Regional Strategy Formulation Framework
Regional Strategy Replication and Adaptation
A Case of a Global MNC's Regional Strategy
Summary
9. Strategic Approaches of Multilatinas and Global Latinas
Introduction
The Emergence of Multilatinas and Global Latinas
The Internationalization of Latin American Firms
Multilatinas and Global Latinas: Who Are They?
Strategic Approaches of Multilatinas and Global Latinas
Multilatinas and Global Latinas: Into the Future
Summary
10. The Entrepreneurial Environment of Latin America
Introduction
Innovation in Latin America
The State of Entrepreneurship in Latin America
The Entrepreneurial Ecosystem in Latin America
Hotbeds of Entrepreneurship
Small- and Medium-Size Businesses in Latin America
Summary
11. Global and Regional Value Chains in Latin America
Introduction
Global Value Chains
Latin America’s Participation in Global Value Chains
Regional Integration and Global Value Chains
Firm Perspective on Value Chain Configurations
Summary
12. Strategic Opportunities and Risks in Latin America: A Summary
Introduction
The Business Environment in Latin America
Business Strategies for Latin America
Strategic Opportunities and Risks in Latin America
Concluding Thoughts
Biography
Fernando Robles is an Emeritus Professor of International Business and International Relations at the School of Business of the George Washington University. A native of Peru, Robles received a bachelor’s degree in Civil Engineering at the National University of Engineering, Lima, Peru and a master’s degree from the Graduate School of Business Administration (ESAN) in Lima, Peru. He has an MBA degree from Georgia State University and a PhD in Business Administration from the Pennsylvania State University.
Nila M. Wiese is a Professor of International Business and Marketing in the School of Business and Leadership at the University of Puget Sound in Tacoma, Washington. A native of Honduras, she received a dual BS degree in Marketing and Management from Oklahoma State University, a master’s in International Management from Baylor University, and a PhD in Marketing from University of Oregon.
