Ana Maria Gomez-Trujillo, Maria Alejandra Gonzalez-Perez and Jose Jaime Baena-Rojas
The purpose of this paper is to examine the process of integrating sustainability into the corporate strategy of an emerging market multinational enterprises (EMNE) to achieve and…
Abstract
Purpose
The purpose of this paper is to examine the process of integrating sustainability into the corporate strategy of an emerging market multinational enterprises (EMNE) to achieve and maintain corporate legitimacy over time. The research explores how deploying a corporate sustainability strategy enhances the company’s long-term competitive relevance by creating and maintaining corporate legitimacy and transferring practices based on sustainable development goals within the organization.
Design/methodology/approach
The study adopts a qualitative single-case design, focusing on a corporate energy services company (Interconexión Eléctrica S.A.) operating in volatile, uncertain and turbulent environments.
Findings
The findings indicate that integrating sustainability into the corporate strategy enables subsidiaries to effectively meet global requirements, considering internal and external pressures. This integration also fosters the development of unique capabilities and the internalization of standards, addressing liabilities in foreign markets, thus providing a competitive advantage and safeguarding corporate legitimacy among stakeholders.
Originality/value
This research contributes to the international business literature by providing insights into strategy development and implementation in EMNEs. Specifically, it demonstrates how a Latin American emerging multinational enterprise (multilatina) adopts new sustainability strategies to enhance its business competitiveness. The study also offers guidance for emerging market companies on developing sustainability strategies and transferring them to subsidiaries operating in complex institutional environments. Furthermore, the research provides a rationale for governments and civil society organizations on why firms are committed to sustainability, highlighting its positive impact on firm’s competitiveness and survival in international markets.
Details
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Juan Gabriel Vanegas-López, Jose Jaime Baena-Rojas, Diego Alejandro López-Cadavid and Manoj Mathew
The selection of an international market (IMS) is a prime factor in the success and growth of a company. Therefore, the purpose of this study is to consolidate and apply a…
Abstract
Purpose
The selection of an international market (IMS) is a prime factor in the success and growth of a company. Therefore, the purpose of this study is to consolidate and apply a systematic methodology that contributes toward the evaluation of international markets and promotes entry into the export market of Antioquia’s textile companies.
Design/methodology/approach
Through a systematic literature review, the criteria and sub-criteria involved in the IMS process are identified and a total of 5 general criteria and 23 sub-criteria are selected. A hybrid approach is used to address the gap. In total, a multiple case study of 11 companies from different range of export values are selected. Data analysis is conducted using two multiple criteria decision-making (MCDM) models, namely, the analytic hierarchy process for weighting the factors and the technique for order of preference by similarity to the ideal solution for the country selection ranking.
Findings
The results demonstrate the applicability of the hybrid MCDM technique to improve IMS decision-making in the textile sector and other sectors. It is found that Canada, Belgium and the UK are the best destinations for textile exports with a selection score of 0.7716, 0.7488 and 0.7337, respectively. The sub-criteria belonging to the dimensions of trade barriers, economic factors and costs are the main factors affecting the export of a textile-clothing product.
Research limitations/implications
The possibility of achieving a generalized result through this case study is not possible, but the methodological application carried out is a novel for the selection of markets in the Colombian case and within the literature available in the domain.
Practical implications
From the managerial point of view, firms associated with trade have a broader vision when looking for new markets. Emerging entrepreneurs can equip themselves to enter the international market. Practitioners and policymakers can also use this methodology, which will allow them to evaluate new markets to outline promotional strategies for positioning products abroad.
Social implications
To facilitate the selection of international markets for enterprises.
Originality/value
The contribution of the study is twofold. First, the combination of techniques will allow wider support for the selection of markets and act as a decision support system. On the other hand, this is the first time that such a methodology is used for IMS in the exporting sector not only in Colombia but also in Latin America. Finally, the detailed methodological process described in the study allows both academicians and decision-makers to replicate the study in other contexts and scenarios.