Corporate Strategies of Business Groups in the Wake of Competitive Shocks: Lessons from Argentina
In the first half of the 1990s, a broad macroeconomic reform took place in Brazil leading to changes in institutions, industries, and firms. Ultimately, the reform opened the local market to foreign firms and gave local firms a strong incentive to go abroad. This chapter discusses Brazilian firms' competitive capacity in the new business environment. The study is based on three levels of analysis — national, industry, and firms — with emphasis on the firm level. The objective is to depict the current situation and discuss how Brazilian firms can be competitive in the global market. The chapter shows how successful Brazilian firms dealt with the new open, transitional, and turbulent environment, and proposes four sets of success factors for Brazilian firms to be competitive. The aim of this chapter is for lessons drawn from the Brazilian environment to be useful to firms in other emerging economies with similar characteristics.
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