• Understand and describe the particular challenges and opportunities that relate to business strategy and management seen from the perspective of the local firm in emerging markets and developing countries, inter alia in relation to the presented theoretical and strategic approaches.
• Compare and critically discuss theories and approaches that address the particular challenges and opportunities of business strategy and management for local firms in developing countries and emerging markets.
• Apply these theories and approaches to concrete cases of local firm business strategy and management in developing countries and emerging markets and assess their respective relevance and applicability.

Developing country and emerging market firms often emerge from different historical paths, have different resources and capabilities and hence different strategic orientations compared to firms from developed countries.  Differences in business environments, in combination with on-going changes (in terms of speed and content, like the Covid-19 impact), alter strategy formulation and implementation compared to developed countries. Strategy formulation and management in developing countries and emerging markets take place in a market context and regulatory environment that is significantly different from that of developed countries. The business management literature has only recently started focusing specifically on the particular strategies that local (developing country) firms undertake as well as the interface between those strategies and developing countries/emerging markets (DC/EM). The course “Business strategy in developing countries and emerging markets” is specifically designed to introduce students to this literature. In addition to the theoretically oriented literature, the course will also include introduction to a Critical Realist case study approach. This element is tied to the methods components of the MSc BLC BaDS program and will be taught with an emphasis on enhancing the student’s academic skills.

The course will consist of four modules:

Module I (Introduction) will provide a general introduction to the business and development studies literature and to the key issues of methodology. Concerning the first of these, the Introduction will take up the gap in the literature concerning the lacking perspectives of developing country firms as well as take account of the particular conditions of doing business in developing countries and emerging markets. Second, the Introduction will discuss the fact that the development literature has devoted too little attention to the role of local, developing country firm strategies and management in economic and social development. The introduction to a key element of methdology serves as an introduction to this issue at the MSc BLC BADS program in general.

Module II introduces theories of business strategy and management in developing countries and emerging markets. The module will present and position key perspectives on business strategies, including theories of business management (e.g. the resource based perspective, internationalisation and network theory, principal agency theory, and institutional theory). Furthermore, it will discuss the applicability of the different theoretical frameworks to the Developing Countries & Emerging Markets contexts. The main issues addressed concern the scale of developing country firms (SMEs versus large firms and MNCs), degree of internationalisation and governance (in Global Value Chains).

Module III presents and examines a number of different cases from a variety of settings (Africa, Asia and Latin-America), illustrating a number of possible strategies of developing country firms. The module has two Theme Days on respectively (i) internationalisation of developing country firms; and (ii) domestic/local market strategies of developing country SMEs. Secondly, the module includes lectures on a) the mobile telecommunication industry in a least developed context (Afghanistan), and b) Human Resource Management strategies among developing country firms. The methods component will emphasise the Critical Realist Approach to case studies.

Module IV concludes the course summing up the content, evaluating the course and preparing for the exam including all aspects of the course (business strategies in developing countries and emerging markets, and methods).

Pedagogical approach:

The course is based on face-to-face lectures supplemented with a number of on-line elements (video-clips, Youtube and more). Active and engaged participation is expected from the students based on the curriculum (readings and undertaking specified student tasks). Note that for Autumn 2020 half of the lectures will be face-to-face and half of the lectures will be online!

To be announced on Canvas - some indicate literature includes:

* Hansen, M.W. and Schaumburg-Müller, H. (2010). “Firms in developing countries: A theoretical probe into the borderland of Business Studies and Development Studies”, European Journal of Development Research, pp. 197–216

* Luo, Y., & Tung, R. L. (2018). A general theory of springboard MNEs. Journal of International Business Studies, 49(2), 129–152. https:/​/​doi.org/​10.1057/​s41267-017-0114-8

* Peng, M., Sun, S. L.W., Pinkham, B. and Chen, H. (2009). “The Institution-Based View as a Third Leg for a Strategy Tripod”, Academy of Management Perspectives, August, pp. 63-81.

* Thomsen, L. (2007). “Accessing global value chains? The role of business–state relations in the private clothing industry in Vietnam.” Journal of Economic Geography, 7(6), pp. 753-776.

* Kuada, J. (2007). “Routes of Integration of Ghanaian Firms into the World Economy”, Chapter 2. In Kuada, J. (ed.) Internationalisation and Economic Growth Strategies in Ghana, London: Adonis and Abbey Publ. pp. 16-36.

* Bhattacharya, A. K. and Michael, D.C. (2008). “How Local Companies Keep Multinationals at Bay.” Harvard Business Review (Winning in the World’s Emerging Markets, 2nd Edition), March, pp. 22-33.

* Rahbek Pedersen, E. and Andersen, M. (2006). “Safeguarding corporate social responsibility (CSR) in global supply chains: how codes of conduct are managed in buyer-supplier relationships.” Journal of Public Affairs, 6, pp. 228-240.

* Jeppesen, S. (2005). “Enhancing competitiveness and securing equitable development: can small, micro and medium-sized enterprises (SMEs) do the trick?” Development in Practice, 15, issues 3-4: pp. 463-474.

* Azizi, S. (2015). “CSR in Afghanistan”. Chapter 3, pp. 54-70, in Jamali, D., Karam, C. and Blowfield, M.E. (eds.), Development-Oriented Corporate Social Responsibility, Vol. 2, Greenleaf Publishing, Sheffield, UK.

* Ramirez, J., Vélez-Zapata, C., & Madero, S. (2020). Ambidexterity responses to security risk institutional context. International Journal of Emerging Markets. https:/​/​doi.org/​10.1108/​IJOEM-04-2019-0262