Firms in emerging markets are becoming leading global players despite operating in challenging home country environments, but little is known about how they build their capabilities. By analyzing multiple companies operating across over a dozen emerging markets in Asia, Latin America, Africa and Europe, the authors identify the specific challenges faced by emerging market firms to become internationally competitive. Furthermore, they provide actionable solutions to upgrading capabilities, sustaining competitive advantage, and achieving multinational status, all whilst operating in emerging economies. Featuring contributions from eminent business scholars from across the globe, this timely volume provides a valuable tool for academics and practitioners, managers and consultants, especially those involved with emerging market firms working to grow and succeed globally.

‘Firms in emerging economies need world-class capabilities to succeed in international markets. Yet, building those capabilities is not easy. In this excellent volume, Cuervo-Cazurra, Newburry, Park and their collaborators draw on studies of 73 firms in a dozen emerging economies to identify which capabilities matter most in different industry and national contexts. And they go further to explain how leaders can nurture those capabilities in their companies. The book is chock full of valuable insights for academics and practitioners. It's a must-read for anyone interested in emerging markets.'

Ravi Ramamurti - University Distinguished Professor of International Business, and Director, Center for Emerging Markets, Northeastern University

‘This is the first book to reveal, in rich detail, how emerging market firms have upgraded their capabilities to become a powerful new force in global competition. Covering companies from 12 emerging economies spanning Asia, Latin America, Africa and Europe it brings together the insights of local experts with deep understanding of the subtleties each country. It will be a valuable tool for academics and practitioners, managers and consultants, especially those involved with emerging market firms working grow and succeed globally.'

Peter Williamson - Professor of International Management, University of Cambridge, Judge. Business School.

‘This book offers a panoramic view of the new strategic capabilities of emerging-market firms from four continents, demonstrating the breadth-taking speed with which they are becoming formidable competitors worldwide. A must read for anyone focused on anticipating global competitive shifts.'

Mauro F. Guillén - Zandman Professor of International Management at the Wharton School, and author of 2030