Dear colleagues:
Apologies for cross postings. I would like to call your attention to a new book entitled The New Multinationals, published by Cambridge University Press, 2010. In it, authors Mauro Guillen and Esteban Garcia-Canal examine the success of Spain's multinational companies to demonstrate how networking and other traditional methods can be used to conquer global markets.
How is it that during a global economic crisis which has stymied many businesses seeking to expand abroad, that Spain has cranked out some of the most successful and thriving multinational success stories, even when faced with 20% unemployment and a declining GDP? The answers lie in this new book.
"In exploring opportunities for expansion, many Spanish companies avoided the risky and expensive strategy of operating their own facilities abroad, instead favoring alliance, joint ventures, and acquisition," says Mauro Guillen, director of the Lauder Institute at the University of Pennsylvania's Wharton School. "It comes down to smart, savvy and frankly, 'old-fashioned' networking strategies, coupled with excellence in implementation and execution."
Expansion successes featured in the book include the world's largest bridal gown maker, Pronovias, the world's fifth-largest telecom company, Telefonica, the world's fourth-largest bank, Santander, the world's fourth largest wind-turbine company, Gamesa, and the first foreign transit provider in China, ALSA.
The theories behind this business success, summarized in the November�s issue of Harvard Business Review under the title, "How to Conquer New Markets with Old Skills," include vertical integration expertise, refined political and networking skills, and project execution knowledge. "These are capabilities available to many other companies working to grow in emerging markets," says Esteban Garcia-Canal, professor of management and international business at the University of Oviedo in Spain. "We see the Spanish model as very applicable to other companies hoping for the same success."
The book is the result of research funded by the Rafael del Pino Foundation. For more info, please visit www.uniovi.net/thenewmultinationals.
Regards,