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Investor strategy development and adaptation:: The case of Interbrew

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  • Marinov, Marin
  • Marinova, Svetla

Abstract

Growing competition pressures in saturated West European beer markets coupled with shrinking demand challenged Interbrew SA, Belgium to enter the emergent prospective markets of Central and Eastern Europe by the acquisition of former state-owned enterprises. The study of this case shows the linkages existing between investor internationalisation strategy, motives, strategy implementation and adaptation in the highly volatile markets of Hungary and Bulgaria. The case represents a good example of slow reactive strategy adaptation to the Hungarian environment leading the investor to the loss of its first mover advantage. Using similar motives for its acquisitions in Bulgaria, Interbrew has successfully implemented a proactive adaptation of its initial strategy to the Bulgarian environment. The lessons from the case can be used by foreign investors to increase their chances for success in FDI acquisitions in transitional economies.

Suggested Citation

  • Marinov, Marin & Marinova, Svetla, 1998. "Investor strategy development and adaptation:: The case of Interbrew," European Management Journal, Elsevier, vol. 16(4), pages 400-410, August.
  • Handle: RePEc:eee:eurman:v:16:y:1998:i:4:p:400-410
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    Cited by:

    1. Hennart, Jean-François & Sheng, Hsia Hua & Pimenta, Gustavo, 2015. "Local complementary inputs as drivers of entry mode choices: The case of US investments in Brazil," International Business Review, Elsevier, vol. 24(3), pages 466-475.
    2. Gil, Adrian & Nakos, George & Brouthers, Lance Eliot & Brouthers, Keith D., 2006. "Country-specific strategy and new venture formation in Central and East Europe," International Business Review, Elsevier, vol. 15(1), pages 1-13, February.
    3. Jean-François Hennart & Alain Verbeke, 2022. "Actionable and enduring implications of Oliver Williamson’s transaction cost theory," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(8), pages 1557-1575, October.
    4. Sels, A.T.H., 2006. "Foreign direct investment as an entry mode. An application in emerging economies," Other publications TiSEM 583ca9b5-1691-425d-8f77-0, Tilburg University, School of Economics and Management.

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