This course consists of a comprehensive overview of emerging economies, and in-depth discussion of global strategy implemented by MNCs in emerging markets and by emerging market firms. It also examines central concepts relevant to the main theme, including the institutional environment, competitive advantages and organizational capabilities, innovation and absorptive capacity, migration and diaspora, political ties, and populism. The course is based on discussion of the variety of theories, concepts, information, and evidences pertaining to emerging markets. During the course, we draw on cases and data to illustrate challenges, strategies, and dilemmas from the perspective of firms and of governments, in the broader global economic and political environment. The course considers development and challenges associated to emerging economies (including Covid-19 pandemic, superpower rivalry, economic sanctions, and Russia-Ukraine conflict) that affect global strategy.

The organization of the course reflects the most important historical, economic, institutional, managerial, and political perspectives of emerging markets, with global strategy being the core focus. The course is organized in the following manner.

Part 1 provides the terminology and define the context for emerging markets and global strategy, and hence provide the foundation for the whole course.

Part 2 presents the evolutionary theoretical perspective regarding global strategy. Part 3 is devoted to a thorough illustration of the global strategy of BRICS economies and firms. Along with providing an overall picture of each country’s global integration, we describe the strategies of emerging market firms.

Part 4 discusses concepts and practices on how emerging markets expand abroad for nonmarket reasons. Taken together, these four parts provide a general understanding and specific highlights of the emerging markets and strategy they implement globally.