"When companies venture outside their home territories for the first time, they face alien customs and unfamiliar challenges. And even when they're established, the complexities abound. This invaluable book synthesises the lessons learned, often the hard way, by the world's most experienced global companies." -Sir Martin Sorrell, CEO, WPP
"Dr Hubbard's book is a must for all people concerned about the failures of most mergers, acquisitions and alliances or joint ventures. It is also critical for those who are eager to see the new global trends as great opportunities. She explores in a very factual way what's happening and outlines some key success factors for the global leaders of today and tomorrow." - Professor Pierre Casse, Moscow School of Management SKOLKOVO (Russia)
"This research, sponsored by KPMG, offers the reader unique insights from fifty of the world's most respected executives about how they took their businesses global through acquisitions, joint ventures, alliances and greenfield investment. It is an invaluable read for anyone considering taking their business international." - Dan Tiemann, KPMG Global Partner, US Lead Partner for Transaction Services
"The book provides a unique insight into how companies penetrate and expand in new markets. It draws on interviews with seasoned senior management to ensure that high-quality analytical work is grounded in solid practical experience. I would recommend the book to anyone looking to build a business by acquisition, joint venture or greenfield investment in previously unexplored territory." - Sir Roger Carr, Chairman of Centrica plc and President of the Confederation of British Industry
"This book is a must-read for those of us who wish to explore and understand the complexities of how companies have become internationalised. The book has a number of unique features. It is an evidence-based discussion of the processes involved in internationalisation, drawing on seventeen carefully researched case studies, rich qualitative data and company surveys. These data are analysed and compared to the existing scholarship and knowledge. It is both academically and practically grounded, offering a wealth of useful material." - Professor Sue Dopson, The Rhodes Trust Professor of Organisational Behaviour, Saïd Business School, University of Oxford
Introduction 1. The Economics of Globalization 2. Trends in Globalization 3. The Risks, Challenges and Benefits of Being Global 4. How Do Companies Go Global: Choices and Issues Between Entry Strategies 5. Non-Equity Modes of Investment 6. Equity Investment Alliances and Joint Ventures 7. Mergers and Acquisitions 8. Greenfield Expansion 9. Emerging Market Companies as Globalizers 10. China as a Destination 11. The Next Decade and Beyond
NANCY HUBBARD is one of Britain's leading experts on acquisition strategy and implementation. She is a Director of Hubbard & Associates, a specialist mergers and acquisitions firm, works with KPMG on acquisition issues and is also an Associate Fellow at Oxford University's Templeton College, UK.