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Since the 1950s, subsidiaries of the most prestigious foreign multinationals have played a key role in Brazilian economic development, thus creating a very competitive domestic market. On top of this, government interventions in the last few decades have been inconsistent and contradictory, resulting in a series of economic crises. Only the most resilient Brazilian firms have been able to survive and prosper in this challenging environment. This book analyzes a variety of leading Brazilian multinationals and examines their competencies and competitive strategies in a variety of different settings. It develops an innovative analytical framework based on international business, international operations management, and international human resources management. This framework is then applied not only to Brazilian multinationals, but also firms from Latin America, Russia, India, and China. This provides novel insights into the rise of Brazilian multinationals and the increasingly important role played by emerging economy multinationals in the global economy.
Multinationals from Brazil, Russia, India and China, known as the BRIC countries, are a new and powerful force in global competition and are challenging the incumbency of much older global companies from the developed world. Emerging market multinational enterprises (EMNEs) now account for a quarter of foreign investment in the world, are a prolific source of innovation and make almost one in three cross-border acquisitions globally. Despite this, traditional theories of international business do not provide a satisfactory explanation of their behaviour or performance. The authors of this book shine new light on the rise of the EMNEs and how they have built a competitive advantage through innovation, novel configurations of their international value chains and the acquisition of companies overseas. Any manager, policy maker or researcher who wishes to understand the emergence of this new breed of multinational will find this book an invaluable resource.