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(BQ) Part 2 book "International business" has contents: Modes of internationalization, organization of multinational enterprises, international production, international marketing, international finance, international human resource management, the changing geography of international business, international business and the environmental challenge. | www.downloadslide.com part International strategy D www.downloadslide.com 9 Modes of internationalization Learning objectives After reading this chapter, you should be able to: ✦ identify the factors motivating managers to commit resources abroad ✦ evaluate the trade vs. FDI decision in terms of its impact on the boundaries of the firm ✦ discuss the relative merits of greenfield vs. brownfield investments ✦ assess the utility of international joint ventures and cross-border mergers and acquisitions ✦ compare the costs and benefits of collaborating with foreign partners www.downloadslide.com Case study 9.1 MNEs and internationalization: Bimbo bombs along The Mexican company Group Bimbo has become the world’s largest baked packaged-goods maker, with global sales of $10 billion in 2010. Outside its home country, which accounts for around half of total sales, Bimbo brands have a significant share of markets as widely dispersed as China, the USA, and South America. It is an unusual achievement for an MNE originating in a developing country. Bimbo’s historical expansion has been more or less evenly split between organic growth and the acquisition of high profile brands in target markets. In October 2011, for example, it purchased Sara Lee’s North American bakery business, and Portuguese and Spanish operations. In a 2011 interview (McKinsey 2011), CEO Daniel Servitje spoke of how Bimbo had learnt in the USA, its first big foreign market, that it could, and actually needed to, target segments beyond the Spanish-speaking communities with which it was most comfortable. This ambition required faster expansion than the company could achieve organically, explaining a series of acquisitions it has undertaken over the past 15–20 years. Bimbo’s growth strategy in Brazil has also been geared towards acquiring existing companies instead of building up house brands, even if many of the companies involved have been relatively modest in size. In part, this reflects the .
