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The Evolution of Multinationals

In: Standing on the Shoulders of International Business Giants

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  • Yair Aharoni
  • Ravi Ramamurti

Abstract

As an institution, the multinational enterprise has evolved in complexity. From having roots in just a few Western nations, it now has roots in dozens of nations, including many developing countries. Its scope has likewise expanded from natural resource-based industries and manufacturing to a variety of services. And firms are becoming multinational earlier in their lives and at smaller sizes than in the past. This chapter analyzes the evolution of multinationals over the last century, the forces driving that evolution, and distinctive characteristics of the latest wave of multinationals coming out of developing countries. It also explores the risk of a backlash against globalization and multinationals in Western societies, even as these trends gain in popularity in developing countries. It concludes with questions that international business scholars might want to pursue in their future research.

Suggested Citation

  • Yair Aharoni & Ravi Ramamurti, 2024. "The Evolution of Multinationals," World Scientific Book Chapters, in: Arie Y Lewin & Ravi Ramamurti & Elizabeth L Rose (ed.), Standing on the Shoulders of International Business Giants, chapter 11, pages 153-177, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811287510_0011
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    More about this item

    Keywords

    International Business; Internationalization; Strategy; Service Economy; Start-Up High-Technology Companies; High-Technology; Managerial Decision-Making; Business Education; State-Owned Enterprises; Small- and Medium-Sized Enterprises;
    All these keywords.

    JEL classification:

    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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