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Doing Business in Emerging Markets

Doing Business in Emerging Markets

Third Edition
Additional resources:

April 2021 | 376 pages | SAGE Publications Ltd
Written by leading scholars, this new third edition provides readers with a comprehensive and authoritative examination of emerging markets across the globe.

Fully updated in light of the COVID-19 pandemic and other recent macro drivers, the authors present analytical frameworks, tools and best practice insights to help readers develop a critical understanding of the growth economies presented within the book, alongside their common characteristics, evolution, and significance in the global economy.

Making use of original cases encompassing countries including Brazil, China, Russia, Thailand, Turkey and Uzbekistan, the authors explore the unique challenges and opportunities for emerging markets throughout the world today, including the rising middle class, partnering, and negotiation techniques. 

This text is essential reading for international business students, researchers and practitioners focused on business in emerging markets.
Part One: Foundation Concepts
Chapter 1: Emerging Markets - Setting the Stage
Chapter 2: What is an Emerging Market?
Chapter 3: Pathways to Economic Transformation: Common Characteristics of Emerging Markets
Cases for Part One

Hydrola: A French Company’s Expansion into Emerging Markets
The Brazilian Little way of Doing Business
Cilek – An Emerging Market Company Goes Global
The Janus Face of China’s Engagement in Africa – Stakeholder Perspectives
Part Two: Potential of Emerging Markets
Chapter 4: What Makes Emerging Markets Attractive?
Chapter 5: Assessing Market Potential of Emerging Markets
Cases for Part Two

ATOM – An Italian Family Firm Operating in Brazil
Lenovo – The Global Challenger from an Emerging Market
Chery Goes to Brazil – Challenges for an Automaker in an Emerging Economy
Starbucks in Russia – Challenges and Opportunities in an Emerging Market
Part Three: Managing in Emerging Markets
Chapter 6: Managing Operations in Emerging Markets
Chapter 7: Negotiations and Conflict Management in Emerging Markets
Chapter 8: A Bright -- if Uneven-- Future for Emerging Markets
Cases for Part Three

1MORE - A Late-Mover Headphone Maker in China
Can a Guerilla Sit Wherever It Wants? Best Buy Goes to Turkey
Bottled Water Industry in Uzbekistan: Multinational and Local Firms
Stora Enso – Corporate Reputation in an Emerging Market
An Expatriate Management Experience in Thailand


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This third edition of Doing Business in Emerging Markets by Cavusgil, Ghauri, and Liu provides fresh perspectives on these dynamic, rapidly transforming economies. The authors offer multi-disciplinary perspectives on the fundamentals of their rise, and prospects for their future in view of the global pandemic. Numerous original cases, authored by colleagues in various emerging markets, make the book especially suitable for higher education. Readers will find numerous examples of fresh perspectives and helpful teaching notes that enrich this book.

Peter J. Buckley, OBE, FBA, FAcSS is Professor of International Business, University of Leeds and director of the Centre for International Business, University of Leeds, UK

Emerging markets continue to be a major agenda of business, even after three decades of their prominence. Cavusgil, Ghauri, and Liu’s newest edition of their book provides a solid review of their evolution, attractions for business, practical advice on working with emerging market business partners, and more. The addition of a large number of original case studies, covering different emerging markets and diverse sectors, is a welcome feature. The book is highly recommended for both scholars and practitioners of emerging markets.

Jagdish N. Sheth, Charles H. Kellstadt Professor of Business, Emory University, USA

With its rich range of global contexts and perspectives, Doing Business in Emerging Markets offers readers a potent set of case studies that will spur not only new ways of thinking about our world, but also new ways of acting within it. The book’s presentation of different cultures’ approaches to strategy, execution, and even the shape and meaning of enterprise, serves not so much as a snapshot of today’s world, but a preview of the forms, norms, and ideals that will shape our world and lives in the coming decades. A work of global breadth and intellectual depth, this intriguing new book provides academics and practitioners invaluable insight into the powerful new set of players emerging in our shifting global landscape.

Ming-Jer Chen, Leslie E. Grayson Professor of Business Administration, The Darden School, University of Virginia, USA

Having led global operations of a major multinational company, I know that doing business in highly dynamic emerging markets can be challenging. This book provides an essential understanding of the economic and commercial environment in these diverse markets, and lays out specific strategies for partnering with and working in emerging markets. Highly readable and concise treatment of the topics make the book a requisite reading for practitioners and scholars of emerging markets.

Ahmet Bozer, President, Coca-Cola International, and Executive Vice President, The Coca-Cola Company, (ret.)

Insightful, data driven. A go-to guide for business development in the emerging markets. 

Xianqin Lisa Wallace, former Senior Vice President, Malaysia Airlines

The new edition of Doing Business in Emerging Markets, by Professors Cavusgil, Ghauri, and Liu, fills a major gap in the international business literature. As widely known and respected experts on emerging markets, the authors provide an authoritative and comprehensive book with contemporary perspectives on the topic. The book’s many excellent features include its analytical frameworks, tools, and best practice insights which, along with the addition of 13 original cases, make it especially suitable for classroom use. The authors’ practical treatment of market potential assessment in emerging markets, makes the book equally relevant and valuable for managers as well.

Saeed Samiee, Collins Professor of Marketing and International Business, The University of Tulsa, USA

Nothing remains the same in Emerging Markets. A contemporary, multidisciplinary treatment of the new realities in these rapidly transforming economies was long overdue. Fortunately, the author team of Cavusgil, Ghauri and Liu delivered an authoritative book on emerging markets, addressing their past evolution, current challenges and future prospects in view of the global health pandemic. The book is enriched by 13 original cases about doing business in emerging markets, making it an ideal text to use in the business curriculum.

Ying Zhu, Professor of International Business and Director, Australia Centre for Asian Business, University of South Australia, Adelaide, Australia

This textbook is quite unique. Such a necessary topic to help us teach students that business can co-exist both in western and emerging markets.

Mrs FRANCOISE Passerard
Marketing, Paris School of Business
April 8, 2023

I have several textbooks that the students can choose from, amongst which are Peng, M. and K. Meyer (2011), International Business, Centage Learning: London and Cavusgil, S.T., G. Knight, and J.R. Riesenberger (2008) International Business, Pearson International, New Jersey, Dunning, J. and S.M. Lundan (2008), Multinational Enterprises and the Global Economy, 2nd edition. Cheltenham: Edward Elgar, and Ietto-Gillies, G. (2005), Transnational Corporations and International Production – Concepts, Theories, Effects. Cheltenham: Edward Elgar. The Cavusgil, S.T. et al. (2012) Doing Business in Emerging Markets, Sage Publishing is responsible for tackling the particularity of emerging markets.

Professor Johannes F. Stephan
Business Administration, Technical University of Freiburg
October 7, 2021

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