With stagnated demand in many home economies, the need to internationalize and exploit foreign market opportunities has never been more paramount for businesses to succeed at a global level. However, this process raises a number of questions, such as: can firms use their knowledge of one market in the next? Can firms pursue internationalization on several fronts at the same time? How should firms handle cultural and institutional differences between markets?
This textbook provides students with the core research in international business and strategy, including organization, efficiency, external relationships and the challenges found in an increasingly multicultural world. Each part begins with a presentation of the issues and controversies faced in that particular area, followed by a synthesis of the research which provides avenues for future research. To facilitate and encourage further debate and learning, each part also includes at least one original case study.
Compiled by two of the World's leading scholars of international business, and supplemented with critical commentaries and a range of integrative case studies, this comprehensive textbook provides advanced students of international business and strategy with a resource that will be invaluable in their studies and beyond.
'The textbook that we have been waiting for has finally arrived! Buckley and Ghauri have succeeded in providing a compendium of contributions that reflect the main foundations of international business and MNE's strategic, theoretical and empirical framework, as well as offering insights and directions for scholars to understand the current and future trends in international business.' - Philippe Gugler, Professor and Chairman of the European International Business Academy, University of Fribourg, Switzerland
'Edited by two eminent international business scholars, this comprehensive volume will be particularly valuable for theory-led courses in international business and strategy, examining both developed- and emerging-country MNEs. Built around ‘must-read’ articles from leading international journals, each section includes an original case study with appropriate discussion questions. I recommend it wholeheartedly.' - Stephen Young, Emeritus Professor, University of Glasgow, UK
'This book is a collection of articles written by the world’s renowned management scholars. This book will be my first choice recommendation to anyone seeking a deep understanding of the core issues on international business theory and practice.' - Shige Makino, Professor, The Chinese University of Hong Kong, Hong Kong
'This book is one of the few advanced books about strategies in the International business field. The authors were successfully able to make a comprehensive book that will challenge graduate students and executives to think more carefully about international strategies.' - Hans van Kranenburg, Radboud University, the Netherlands
'Professors Buckley and Ghauri are renowned in Europe, and globally, for their contributions to thinking and publishing in the field of international business. They have compiled here world-class material on cutting-edge issues in the field that every serious student of international business would want to pay serious attention to.' - Shameen Prashantham, University of Nottingham, Ningbo Campus, China
Part I: Basic Concepts of International Business: What is International Business? 1. Introduction (Buckley, Peter J and Ghauri, P.N) 2. Aharoni, Yair (1999) "The Foreign Investment Decision Process" in The Internationalization of the Firm: A Reader, P. J. Buckley and P. N. Ghauri (Eds), Second Edition. 3. Vernon, Raymond (1999) "International Investment and International Trade in the Product Cycle" in The Internationalization of the Firm: A Reader, P. J. Buckley and P. N. Ghauri (Eds), Second Edition. 4. Jan Johanson & Jan-Erik Vahlne (2009) "The Uppsala Internationalization Process Model Revisited: From liability of foreignness to liability of outsidership", Journal of International Business Studies, 40(9):1411–1431. 5. John Dunning (2000) "The Eclectic Paradigm as an Envelope for Economic and Business Theories of MNE Activity", International Business Review, 9(2):163-190. 6. Peter J. Buckley & Mark C. Casson (2009) "The Internalisation Theory of the Multinational Enterprise: A review of the progress of a research agenda after 30 years", Journal of International Business Studies, 40(9):1563-1580. Case Study 1: Internationalization of Brewery Companies: The case of Carlsberg, (Jens Gammelgaard) Part II: Global Strategy 7. Introduction (Buckley, Peter J and Ghauri, P.N) 8. Buckley, Peter J. & Pervez N. Ghauri (2004) "Globalisation, Economic Geography and the Strategy of Multinational Enterprises" Journal of International Business Studies 35(2):81-98. 9. Ghemawat, Pankaj (2003) "Semi-Globalisation and International Business Strategy" Journal of International Business Studies, 34/2:138-152. 10. Arregle, Jean-Luc, Toyah L. Miller, Michael A. Hitt & Paul W. Beamish (2013) "Do Regions Matter? An integrated institutional and semiglobalization perspective on the internationalization of MNEs" Strategic Management Journal, 34:910-934. 11. Buckley, P. J., T.M. Devinney, & J.J. Louviere. (2007) "Do Managers Behave the way Theory Suggests? A choice-theoretic examination of foreign direct investment location decision-making", Journal of International Business Studies, 38(7):1069-94. 12. Benito, Gabriel R.G., Bent Petersen & Lawrence S. Welch, (2009) "Towards More Realistic Conceptualisations of Foreign Operation Modes", Journal of International Business Studies, 40(9):1455-1470. Case Study 2: Global Strategy – Danone, a French multinational expanding into the global market (Sylvie Hertrich, Michel Kalika and Ulrike Mayrhofer) Part III: Organizing the Multinational Enterprise 13. Introduction (Buckley, Peter J and Ghauri, P.N) 14. Bartlett, C. A. & S. Ghoshal (1999) "Organizing for Worldwide Effectiveness: The transnational solution" in The Internationalization of the Firm: A Reader, P. J. Buckley and P. N. Ghauri (Eds), Second Edition. 15. Barney, J. (1991) "Firm Resources and Sustained Competitive Advantage", Journal of Management, 17:99-120. 16. A. Inkpen & P. Beamish (1997) "Knowledge, Bargaining Power and the Instability of International Joint Ventures". Academy of Management Review, 22(1):177-202. 17. Yeniyurt, S., Janell, D. Townsend, S. Tamer-Cavusgil & Pervez N. Ghauri (2009) "Mimetic and Experiential Effects in International Marketing Alliance Formations of US Pharmaceuticals: An event history analysis", Journal of International Business Studies, 40:301-320. Case Study 3: Organizing the Multinational Enterprise: Renault-Nissan-Daimlar: A Global Strategic Alliance (Christoph Barmeyer and Ulrike Mayrhofer) Part IV: External Relationships 18. Introduction (Buckley, Peter J and Ghauri, P.N) 19. Zaheer, S. (1995) "Overcoming the Liability of Foreignness", Academy of Management Journal, 38(2):341-63. 20. Hennart, J-F. (2009) "Down with MNE-Centric Theories: Market entry and expansion as the bundling of MNE and local assets", Journal of International Business Studies, 40(9):1432-1454. 21. Hadjikhani, Amjad, Joong-Woo Lee & Pervez N. Ghauri. (2008) "Network View of MNCs’ Socio-Political Behaviour" Journal of Business Research 61:912-924. 22. Bouquet, C., & J. Birkinshaw, (2008) "Weight Versus Voice": How foreign subsidiaries gain attention from corporate headquarters", Academy of Management Journal, 51 (3):577 -601. Case Study 4: Axis Communications: Building the Global Market for Network Surveillance Cameras (Ulf Elg and Janina Schaumann) Part V: Culture and International Business 23. Introduction (Buckley, Peter J and Ghauri, P.N) 24. Shenkar, O. (2001) "Cultural Distance Revisited: Toward a more rigorous conceptualization and measurement of cultural differences", Journal of International Business Studies, 32(3):519-535. 25. Cuervo-Cazurra, A., & M. Genc (2008) "Transforming Disadvantages into Advantages: Developing-country MNEs in the least developed countries", Journal of International Business Studies, 39 (6):957-979. 26. Peterson, M. Brannen, M.Y. & M. Peterson (2009) "Merging Without Alienating: Interventions promoting cross-border organizational integration and their limitations". Journal of International Business Studies, 40:468-489. 27. Hallen, Lars & Wiedersheim-Paul, Finn (1999) "Psychic Distance and Buyer-Seller Interaction" in The Internationalization of the Firm: A Reader, P. J. Buckley and P. N. Ghauri (Eds), Second Edition. Case study 5: UniCredit Group: A bank goes East (Stefan Schmid, Dennis J. Wurster and Thomas Kotulla) Part VI: Emerging Markets 28. Introduction (Buckley, Peter J and Ghauri, P.N) 29. Buckley, Peter J., J. Clegg, A. Cross, P. Zheng, H. Voss & X. Liu (2007) "The Determinants of Chinese Outward Foreign Direct Investment", Journal of International Business Studies, 38 (4):499-518. 30. Ghauri, P.N., V. Tarnovskaya & U. Elg, (2008) "Market Driving Multinationals and their Global Sourcing Networks", International Marketing Review, 25(5):504 – 519. 31. Khanna, T., K. Palepu & J. Sinha (2005) "Strategies that Fit Emerging Markets", Harvard Business Review, 83(6) June: 63-76. 32. Henisz, Witold J. & Bennet A. Zelner (2010) "The Hidden Risks in Emerging Markets", Harvard Business Review April: 88-95. Case Study 6: Internationalisation of Indian Pharmaceutical Multinationals (Surender Munjal)