Table of Contents

Part One: Foundation Concepts
Chapter 1: Emerging Markets - Setting the Stage
Chapter 2: What is an Emerging Market?
Chapter 3: Pathways to Economic Transformation: Common Characteristics of Emerging Markets
Cases for Part One
Hydrola: A French Company’s Expansion into Emerging Markets
The Brazilian Little way of Doing Business
Cilek – An Emerging Market Company Goes Global
The Janus Face of China’s Engagement in Africa – Stakeholder Perspectives
Part Two: Potential of Emerging Markets
Chapter 4: What Makes Emerging Markets Attractive?
Chapter 5: Assessing Market Potential of Emerging Markets
Cases for Part Two
ATOM – An Italian Family Firm Operating in Brazil
Lenovo – The Global Challenger from an Emerging Market
Chery Goes to Brazil – Challenges for an Automaker in an Emerging Economy
Starbucks in Russia – Challenges and Opportunities in an Emerging Market
Part Three: Managing in Emerging Markets
Chapter 6: Managing Operations in Emerging Markets
Chapter 7: Negotiations and Conflict Management in Emerging Markets
Chapter 8: A Bright -- if Uneven-- Future for Emerging Markets
Cases for Part Three
1MORE - A Late-Mover Headphone Maker in China
Can a Guerilla Sit Wherever It Wants? Best Buy Goes to Turkey
Bottled Water Industry in Uzbekistan: Multinational and Local Firms
Stora Enso – Corporate Reputation in an Emerging Market
An Expatriate Management Experience in Thailand

About the Author

S. Tamer Cavusgil currently serves as Fuller E. Callaway Professorial Chair and Executive Director, Center for International Business Education and Research (CIBER), J. Mack Robinson College of Business, Georgia State University, Atlanta, U.S.A. A trustee of Sabanci University in Istanbul, Turkey, Tamer is also a visiting professor at Leeds University Business School, U.K., and The University of South Australia Business School.

Professor Cavusgil has been mentoring students, executives, and educators in international business for the past four decades. A native of Turkey, his professional work with the International Trade Center (WTO) has taken him to numerous emerging markets for training and exporter development projects. Recognizing the importance of emerging markets for western firms, he developed the Emerging Market Potential Index while serving as the CIBER director at Michigan State University.

Pervez N. Ghauri completed his PhD at Uppsala University (Sweden) where he also taught for several years. Over the years he has worked at Manchester Business School and King’s College London in UK. Currently Pervez is Professor of International Business at University of Birmingham (UK).

Pervez is the Editor-in-Chief of the International Business Review (IBR) and Consulting Editor for Journal of International Business Studies (JIBS). He is a Fellow for both the European International Business Academy (EIBA) and the Academy of International Business (AIB), where he was also Vice President during the period 2008 and 2010. His books include Internationalization of the Firm, International Business Strategy, International Business Negotiations, Project Marketing and Research Methods in Business Studies. He consults and offers training programs to a number of organizations such as BP, Airbus Industries and Ericsson.

Leigh Anne Liu is Professor of International Business of Georgia State University USA and Fulbright-Hanken Distinguished Chair of Business and Economics 2020–2021. She received her PhD from Vanderbilt University. Her research explores how culture and cognition influence intercultural interactions, including negotiation, conflict management, and collaborations at individual, team, firm, and national levels. Her works appear in Administrative Science Quarterly, Journal of Applied Psychology, and Journal of International Business Studies, among others.

Leigh Anne has been a visiting professor at the University of South Australia, the University of Toulouse in France, and Peking University and Nanjing University in China. She has consulted for Fortune 500 companies and the non-profit sector on conflict management and multicultural competency projects. She is also an associate editor for the Journal of Business Research and Cross Cultural & Strategic Management, and has been a guest editor of three special issues. She also serves on the editorial boards of Academy of Management Review, Management and Organization Review, and International Business Review.

Reviews

This third edition of Doing Business in Emerging Markets by Cavusgil, Ghauri, and Liu provides fresh perspectives on these dynamic, rapidly transforming economies. The authors offer multi-disciplinary perspectives on the fundamentals of their rise, and prospects for their future in view of the global pandemic. Numerous original cases, authored by colleagues in various emerging markets, make the book especially suitable for higher education. Readers will find numerous examples of fresh perspectives and helpful teaching notes that enrich this book.
*Peter J. Buckley, OBE, FBA, FAcSS is Professor of International Business, University of Leeds and director of the Centre for International Business, University of Leeds, UK*

Emerging markets continue to be a major agenda of business, even after three decades of their prominence. Cavusgil, Ghauri, and Liu’s newest edition of their book provides a solid review of their evolution, attractions for business, practical advice on working with emerging market business partners, and more. The addition of a large number of original case studies, covering different emerging markets and diverse sectors, is a welcome feature. The book is highly recommended for both scholars and practitioners of emerging markets.
*Jagdish N. Sheth, Charles H. Kellstadt Professor of Business, Emory University, USA*

With its rich range of global contexts and perspectives, Doing Business in Emerging Markets offers readers a potent set of case studies that will spur not only new ways of thinking about our world, but also new ways of acting within it. The book’s presentation of different cultures’ approaches to strategy, execution, and even the shape and meaning of enterprise, serves not so much as a snapshot of today’s world, but a preview of the forms, norms, and ideals that will shape our world and lives in the coming decades. A work of global breadth and intellectual depth, this intriguing new book provides academics and practitioners invaluable insight into the powerful new set of players emerging in our shifting global landscape.
*Ming-Jer Chen, Leslie E. Grayson Professor of Business Administration, The Darden School, University of Virginia, USA*

Having led global operations of a major multinational company, I know that doing business in highly dynamic emerging markets can be challenging. This book provides an essential understanding of the economic and commercial environment in these diverse markets, and lays out specific strategies for partnering with and working in emerging markets. Highly readable and concise treatment of the topics make the book a requisite reading for practitioners and scholars of emerging markets.
*Ahmet Bozer, President, Coca-Cola International, and Executive Vice President, The Coca-Cola Company, (ret.)*

Insightful, data driven. A go-to guide for business development in the emerging markets. 
*Xianqin Lisa Wallace, former Senior Vice President, Malaysia Airlines*

The new edition of Doing Business in Emerging Markets, by Professors Cavusgil, Ghauri, and Liu, fills a major gap in the international business literature. As widely known and respected experts on emerging markets, the authors provide an authoritative and comprehensive book with contemporary perspectives on the topic. The book’s many excellent features include its analytical frameworks, tools, and best practice insights which, along with the addition of 13 original cases, make it especially suitable for classroom use. The authors’ practical treatment of market potential assessment in emerging markets, makes the book equally relevant and valuable for managers as well.
*Saeed Samiee, Collins Professor of Marketing and International Business, The University of Tulsa, USA*

Nothing remains the same in Emerging Markets. A contemporary, multidisciplinary treatment of the new realities in these rapidly transforming economies was long overdue. Fortunately, the author team of Cavusgil, Ghauri and Liu delivered an authoritative book on emerging markets, addressing their past evolution, current challenges and future prospects in view of the global health pandemic. The book is enriched by 13 original cases about doing business in emerging markets, making it an ideal text to use in the business curriculum.
*Ying Zhu, Professor of International Business and Director, Australia Centre for Asian Business, University of South Australia, Adelaide, Australia*