Which Business Strategy Do Multinational Corporations Need to Successfully Enter the Markets of Less Developed Countries?
Author InfoSofie Van den waeyenberg (Vrije Universiteit Brussel, Belgium) Abstract For a long time, multinational corporations did not consider the Third World as a marketplace. Although now emerging and developing markets are getting more attention from multinational corporations, the multinationals do not always succeed in exploring these markets in a profitable manner. Various authors such as Prahalad, Hart, Hammond, Christensen, Lieberthal, London, Milstein, etc., are advocating that multinational corporations have an important role to play in sustainable development and that they can make a profit at the same time. To reach both sustainability and profitability, however, corporations need to adapt their business models, strategies and products accordingly. A review of the literature in the research field of multinational market entry in emerging and developing countries leads to the division of seven strategy changes proposed in the literature: the elimination of the Western bias
