Summary - Article 'International strategy: From local to global and beyond' by Hitt, M.A., Li, D. and Xu, K. (2016)

Summary of the article 'International strategy: From local to global and beyond' by Hitt, M.A., Li, D. and Xu, K. (2016)

Course: International Strategic Management (ISM)
Study: International Business

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International strategy: From local to global and beyond
Hitt, M.A., Li, D. and Xu, K.
2016

1. Introduction
- Internationalization has had profound effects on the development of multinational
enterprises, as well as on a global economy now based increasingly on an
interdependent set of financial markets and national economies.
- MNEs must contribute and respond to dramatic changes and the increasing
complexity of international business environment.

2. International strategy: diversification and speed
- Two areas of research for international strategy:
o Antecedents of international diversification (expansion) and implications
thereof.
o How to enter foreign markets.

2.1. Advancement in international diversification research
- Two perspectives are relevant:
o Risk diversification: costs of risks.
o Real options: benefits of risks.
- MNEs with higher international diversification are less likely to divest their
subsidiaries from host countries experiencing economic crisis.
- Scholars seem to agree on the importance of considering contingencies when
examining the performance implications of firms’ international diversification.
- International diversification can provide benefits to financial performance, but also
in the form of knowledge transfer and innovation.
- The influence of international diversification is affected by how it is implemented.

2.2. Shifting focus from entry mode to entry timing/speed
- Entry mode is one of the most critical decisions for MNEs expanding overseas.
- Entry decisions entail the timing and speed of entering particular foreign markets.
- Two issues of timing/speed:
o Time lag between the founding of a firm and its initial international
expansion.
o Speed of a firm’s subsequent international expansion.
- Firm, industry and country attributes can influence entry timing.
- The timing and speed of market entry can influence the effectiveness of that entry
and/or the mode of entry used.
- The success of an entry is affected by institutions in the country entered.

3. Cultural and formal institutional environments
- The current competitive landscape for MNEs has substantially changed in the last
few decades.

3.1. Institutions, institutional change and institutional complexity
3.1.1. Institutions

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Specifications

Level: Universiteit
School: Rijksuniversiteit Groningen
Course: International Business
Subject: International Strategic Management
Course code: ISM
Author: Hitt, M.A., Li, D. and Xu, K.
Document
Section: Summaries
Made on: 11-02-2019
Type: .pdf
Pages: 4
Language: English
Tags
summary article international business strategic management strategy local global beyond hit li xu ism university groningen rijksuniversiteit

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Summary - Article 'International strategy: From local to global and beyond' by Hitt, M.A., Li, D. and Xu, K. (2016)

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