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1 Michael A
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Dan li. (2015) Strategy: From development of phenomenon of by analyzing the development of
Local to Global international the 20th century content: international
and Beyond strategic research was the *International business and
https://www. over the past five internationalizatio strategy: discussed the
researchgate. decades. n of large, small, Diversification process of
Specifically, established and and speed international
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nd_Beyond penetration are of multinational and speed of
closely examined. enterprises (MNEs) market entry
In recent years, the eventually led to a and
influence of formal global economy simultaneous
and informal with an review of
institutions on increasingly capacity
international interconnected set exploration and
strategy has of national exploration.
become a central economies and Their
research topic. financial markets. assessment
Moreover, MNEs' As cited above, identified
strategies often internationalizatio significant
seek to explore n has had a progress in
and exploit profound impact current
important The development international
capabilities to of multinational strategic
build an enterprises research
international (MNEs), as well as providing a
market advantage. based on the deeper
Finally, emerging current global understanding
research topics, economy, is of MNE
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institutional dependent set of the ultimate
complexity, financial markets goal of
business and the national achieving
sustainability, economy. So, superior
emerging Research on MNE performance.
economic and their However, it also
companies and international reveals that
new international strategies have many areas of
joint ventures, are been conducted international
highlighted. strategic
documents are
still fragmented
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 both theory
and
methodology,
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need for future
research and
direction.
hybrid. that is.
In addition,
they emphasize
emerging
research topics
on institutional
complexity,
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sustainability
and two new
groups of
participants in
the context of
global
competition.

2 Charles A The While As many The author has Although these

Rarick (2004) Competitive multinational firms developing used the method works
Advantage of from advanced countries around of content recognize that
Local Firms in economies often the world begin to analysis research. politics is very
Developing have a competitive liberalize their 1 Intra-firm important in
Economies: advantage in economies, local competition: internal
The Case of developing companies Types and shapes business
Bajaj of India countries, local operating in those 2.Determinants of competition,
https://www.r firms can countries face a intra-firm they cannot
esearchgate.n successfully competitive competition fully integrate
et/publication compete against environment. 3. Actors and the political
/237497149_T them using Many developing actor rationales in aspect into
he_Competitiv localized countries around intra-firm their
e_Advantage_ knowledge and the world have competition framework.
of_Local_Firm abilities. This paper protective Based on the
s_in_Developi discusses the economic policies various
ng_Economies strategies local to allow local organizational
_The_Case_of firms can use industries to political
_Bajaj_of_Indi against foreign survive and thrive approaches, the
a multinationals and Economic reforms framework
examines the case pose a threat to developed in
of Bajaj Auto, a foreign this article aims
company that was competition, and to outline
able to defend many local important
itself against companies feel as political
strong foreign if they could not strategies, the
competition. This meet the contextual
paper expands challenges of more constitution of
upon the earlier established and these
 work of Dawar and effective MNCs. strategies, as
Frost and provides While consumers well as the
a focus on Bajaj in developing dynamics. of
Auto. economies benefit political
from a greater interactions in
choice of products, games around
local suppliers face competition
a variety of within the
challenges from enterprise.
their new
competitors. That
is why the author
chose the topic
Competitive
advantage of local
businesses in
developing
economies: The
Bajaj case of India.
3 https://hbr.o
rg/1999/03/c
ompeting-
with-giants-
survival-
strategies-
for-local-
companies-
in-emerging-
markets
Section Three: Literature sources searched:

Emerging markets are broadly defined as countries in the process of rapid growth and industrialization. Normally,
these countries are moving to an open market economy with an increasing working age population ... Therefore,
many multinational companies have been focusing on developing market share. Its position in these markets leads
to fierce trade competition between multinational companies. This also makes local companies in emerging
markets need to maintain their position for survival and development.

In the world, there are some studies on this issue by famous authors such as Michael A Hitt, Kai Xu, Dan li. Charles
A. Rarick, Niraj Dawar, Tony Frost…etc..

Authors Michael A Hitt, Kai Xu, Dan li (2015) researched "International Strategy: From Local to Global and Beyond"
and concluded that In order to survive and thrive, multinational enterprises (MNEs) have had to adapt to drastic
changes and increase complexity in the context of global competition over the past 50 years of MNEs' international
and academic strategy. Research on the attributes and results of these strategies have grown accordingly. Studying
international strategy for the past five decades, in particular, the study of international diversification and the time
and pace of international market penetration have been closely monitored institutions for international strategy
have become a central research topic In addition, MNE strategies often seek to explore and exploit important
capabilities to build an international market advantage. "
And author Charles A Rarick has studied the “Competitive Advantage of local businesses in developing economies”.
The conclusion is that as many developing countries around the world begin to liberalize their economies, local
companies operating in those countries face a competitive environment. Many developing countries around the
world have protective economic policies to allow local industries to survive and thrive Economic reforms pose a
threat to foreign competition, and many local companies feel like they may not be able to meet the challenges of
more established and effective MNCs. While consumers in developing economies benefit from a greater choice of
products, local suppliers face a variety of challenges from their new competitors.

In addition, in the author Niraj Dawar and Tony Frost (1999), "Competing with Giants: Survival Strategy for Local
Companies in Emerging Markets" they gave four strategies for local companies. in emerging markets

The first is that the local company needs to protect the home field advantage. Far from considering operations
with low profits, the company's distribution network is the key to protecting their home turf.

The second was the strategy to expand local advantages abroad. In some cases, companies in local industries may
go beyond protecting their current market. With suitable transferable assets, these extensions can be used as their
home base as a platform for expansion elsewhere. Selective international expansion policy, tied to the company's
main assets, can reap additional revenue and economic scale, not to mention valuable learning experiences.

Thirdly, local companies need to avoid the attack of multinational companies. In industries where there is strong
global pressure, managers will not be able to simply build on their company's local assets, they will have to rethink
their business model. If their assets are only valid in their home country, the best course could be to join a joint
venture with, or sell off to a multinational company.

Finally, join the global level. Despite the many advantages of multinational rivals, companies from emerging
markets should not always rule out a sales strategy at a global level. If their assets are transferable, they can
become their own official multinational company.