Description
Book SynopsisThe international business literature often struggles to depict a universal experience of internationalisation from the perspective of large countries. This book seeks to enrich the literature by providing a nuanced overview of the little-known Australian experience, being an atypical case of a small- to medium-sized economy which liberalised rapidly from the 1980s outside any trading bloc.
Six data-rich survey chapters explore Australia's mixed success in founding its own multinationals. The experience of Australian firms is set in historical and comparative perspective, including interactions with inward and specifically American FDI. Five industry studies next consider why firms in retail, wine and professional services were more successful than in financial services and shipping. Nine detailed case studies of firms then identify the elements of administrative heritage, strategy and learning that have been the key to success or failure. The book concludes by outlining what can be learned from Australia's example and presenting implications for future research.
The Internationalisation Strategies of Small-Country Firms will appeal to scholars, researchers and postgraduate students in international business and international economics.
Trade Review‘The Internationalisation Strategies of Small-Country Firms
is not only aimed at scholars, researchers and students, but is also very useful for business people, practitioners, international government policy-makers, managers and investors.' -- Domingo Ribeiro Soriano, Management Decision
'The Dick and Merrett volume is valuable because it considers the experience of firms and industries within a small to medium-sized developed economy that has high levels of per capita GDP, open policy settings, and a highly urbanised population, but is geographically isolated. . . This study deserves the close attention of those interested in international business, business and economic history, and management subjects. Executives and policy makers will also gain worthwhile insights.' -- Gordon Boyce, Management Decision
'This research project combines contemporary and historical analysis to trace the evolution of Australian multinationals. It provides unique insights into how firms from a small economy achieved global competitiveness in their niche markets, while examining the barriers that inhibited others. The evidence is presented in comparative, industry and firm-case studies, and tells the story of international business made in Australia. The longitudinal and multi-level analysis in this research provides new insights that challenge the predominance of cross-sectional analytical framework dominating strategic management. Any scholars sincerely interested how companies from small countries can succeed on the global stage ought to read this book.' -- Klaus E. Meyer, University of Reading Business School, UK
Table of ContentsContents: PART I: PERSPECTIVES 1. Introduction Howard Dick and David Merrett 2. Australian Multinationals in Historical Perspective: ‘Do You Come From a Land Down Under?’ David Merrett 3. The Administrative Heritage Tatiana Zalan and Geoffrey Lewis 4. Large Australian Firms: Empirical Evidence on Internationalisation Tatiana Zalan 5. Australian and New Zealand Subsidiaries: Victims of Geographic Isolation? Anne-Wil Harzing and Niels Noorderhaven 6. US Multinationals and the Internationalisation of Australian Industry Robert Walters PART II: INDUSTRY DYNAMICS 7. Financial Services: Banking and Insurance Rodney Benjamin and David Merrett 8. Shipping Howard Dick 9. Retail André Sammartino 10. The Wine Industry Geoffrey Lewis and Tatiana Zalan 11. Engineering Services Thomas Osegowitsch PART III: FIRM CASES 12. Burns Philp Howard Dick and Paul Evans 13. ‘Aspro’ and ‘Kiwi’ David Merrett 14. BHP Billiton Robin Stewardson 15. Foster’s Group Tatiana Zalan and Geoffrey Lewis 16. Coca-Cola Amatil Thomas Osegowitsch 17. Pacific Dunlop Geoffrey Lewis and Tatiana Zalan 18. The TNT Group Howard Dick 19. The Westfield Group André Sammartino and Frances Van Ruth 20. Macquarie Bank David Merrett and Shey Newitt 21. Conclusion Howard Dick, David Merrett and Tatiana Zalan Bibliography Index
