The Center for Emerging Markets hosted a one-day international conference on ??Emerging-market Multinationals. The event was organized by Alvaro Cuervo-Cazurra, Professor of International Business & Strategy, and Ravi Ramartui, Professor of International Business and Strategy and Director of the Center for Emerging Markets. Photo by Mary Knox Merrill.
Inter?na?tional busi?ness has grown up in the west and today?s the?o?ries about how a multi?na?tional com?pany should func?tion are based on exam?ples of Amer?ican and Euro?pean enter?prises. But com?pa?nies cre?ated in emerging mar?kets such as China, India and Brazil don?t tend to follow the same patterns.
?As long as these other coun?tries were not impor?tant, that was fine,? said Ravi Rama?murti, Dis?tin?guished Pro?fessor of Inter?na?tional Busi?ness and Strategy at North?eastern Uni?ver?sity. ?But they are now the engines of the global economy, so we need to pay atten?tion to?them.?
To delve deeper into the topic, Rama?murti and Alvaro Cuervo-??Cazurra, an asso?ciate pro?fessor of inter?na?tional busi?ness and strategy, orga?nized the third con?fer?ence on emerging market multi?na?tional enter?prises, or EMNEs. Northeastern?s Center for Emerging Mar?kets hosted the con?fer?ence, which took place on Sat?urday in Dodge Hall and drew approx?i?mately 70 aca?d?e?mics and 15 leading speakers from around the?world.
Ravi Ramartui, Pro?fessor of Inter?na?tional Busi?ness and Strategy and Director, Center for Emerging Mar?kets. Photo by Mary Knox?Merrill.
The group of speakers included Sam Park, pres?i?dent of the Skolkovo Insti?tute for Emerging Market Studies and chair pro?fessor of strategy at the Moscow School of Man?age?ment Skolkovo; Klaus E. Meyer, pro?fessor of strategy and inter?na?tional busi?ness at China Europe Inter?na?tional Busi?ness School; and Torben Ped?ersen, pro?fessor of inter?na?tional busi?ness at the Copen?hagen Busi?ness?School.
In his opening remarks, Hugh Courtney, dean of the Col?lege of Busi?ness Admin?is?tra?tion, lauded the accom?plished scholars. ?We are excited to have this con?fer?ence because emerging mar?kets are a core of our strategy at the Col?lege of Busi?ness Admin?is?tra?tion,? he?said.
While Rama?murti and a handful of others in the field have been focused on EMNEs for more than a decade, the larger inter?na?tional busi?ness research com?mu?nity has focused on the issue more recently. But as more and more emerging mar?kets defy pro?scrip?tive expec?ta?tions, estab?lishing suc?cessful multi?na?tional busi?ness in non?tra?di?tional ways, a growing group of researchers is starting to rec?og?nize the value of the conversation.
The con?fer?ence con?sisted of four panel dis?cus?sions designed to spur debate among the atten?dees. ?You?ll notice we have no paper pre?sen?ta?tions today, only panels,? said Cuervo-??Cazurra. ?We don?t want to close the dis?cus?sion, we want to open discussions.?
The first panel dis?cus?sion focused on the evo?lu?tion of EMNE lit?er?a?ture and fea?tured two scholars from Tel-??Aviv Uni?ver?sity and MIT, who have been piv?otal in estab?lishing tra?di?tional?theory.
The second and third panel dis?cus?sions explored the var?ious ways that EMNEs are playing catch up in order to suc?cess?fully com?pete in a field of well-??established multi?na?tional com?pa?nies and exam?ined the impor?tance of a company?s country of?origin.
The fourth panel dis?cus?sion opened up the debate over whether cur?rent theory is already uni?versal and can be readily applied to?EMNEs.
In con?cluding remarks, Rama?murti said, ?It?s not just whether existing theory is right or wrong, but which parts of it apply to EMNEs and which parts?don?t.?
He noted that researchers should delib?er?ately search for areas in which existing theory does not hold up, try to under?stand why, and then develop new the?o?ries to fill the?gaps.
The first EMNE con?fer?ence, held in con?junc?tion with the Wharton Busi?ness School in 2007, spawned the pub?li?ca?tion of the book, ??Emerging Multi?na?tionals in Emerging Mar?kets,? which was pub?lished by Cam?bridge Uni?ver?sity Press in 2009. The authors, who include Rama?murti and other leading scholars, have com?pleted a second pub?li?ca?tion, which sum?ma?rizes the dis?cus?sions of the second conference.
Source: http://www.northeastern.edu/news/2012/08/emerging-markets/
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