INSEAD professor’s new book provides strategic approach to enhance the success of future multinationals from emerging markets
Most of the research on multinationals has focused on companies from developed markets. Research on multinationals from emerging economies, on the other hand, is relatively new with little attention devoted to the increase of Latin American companies as major players on the international economic scene. In her new book ‘Global Latinas: Latin America’s emerging multinationals’ (Palgrave Macmillan, 2009), Lourdes Casanova, a lecturer in strategy at the international business school INSEAD, takes a closer look at the factors that made it possible for Latin America’s large and medium-sized companies to succeed internationally.
In a time of increased financial instability, ‘Global Latinas’ provides a fresh perspective on the future role of Latin America in the global economy. In the book, Casanova identifies a number of drivers that have contributed to the success of Latin American multinationals, such as innovating new business models, setting up efficient operations, understanding the needs of the world’s poor and developing a resiliency after surviving a number of major crises in the region. The book also examines specific strategies deployed by successful Latin American firms and identifies some of the biggest challenges they have encountered along the way.
‘More than ever, there is a need for a partnership between governments, private companies and civil society to work together to contribute to the expansion of Latin America,’ says Casanova. ‘This region offers advantages not found in more mature economies, such as a large, expanding internal market and a young and growing population.’
Since 2002, Latin American firms have expanded aggressively on a global scale, and Latin American investment in the developed and emerging world has jumped as a result. In addition, while commodities historically have taken up the majority of Latin America’s export basket, today they take up less than 30 percent. A highly diversified range of products now accounts for the rest, from IT services and technologies to steel, electricity, wine and cosmetics.
Lourdes Casanova specialises in international business with a focus on Latin America and multinationals from emerging markets. Her other areas of research include globalisation, corporate social responsibility and women leadership. A Fulbright Scholar, Casanova has a Masters degree from the University of Southern California and a PhD from the University of Barcelona. She has taught at INSEAD since 1989 and has directed numerous executive programmes for senior managers from international multinationals. A truly global scholar, Casanova is fluent in French, English, Spanish and Dutch and has a working knowledge of Italian, German and Portuguese.
