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The focus of this paper is to study how MNCs from new emerging markets manage the opportunity development in other new emerging markets. The aim is to propose a theoretical frame based on business network theory holding the concepts of opportunity development, risk, knowledge, and commitment used to analyze the Turkish firm's behavior in Romania. With the infusion of risk tolerance concept, the study contributes new knowledge to the internationalization model and aids understanding of how new MNCs develop opportunities. It enriches network theory as it unfolds the role of an actor's risk perception and the role of financial resources.

Building on a business network perspective, the aim of this paper is to present a theoretical view for studying service MNEs in ICT (information communication technology) projects centred on the improvement of public services. The four inter-related concepts of cooperation, legitimacy, commitment and knowledge are applied in the analysis of two projects. Defining the projects as object-based services, the study manifests how service MNEs manage three types of actors (business, politi-cal and social) having their legitimacy in different systems. The cases illustrate cross-border activities where MNEs from Sweden, Spain and China join forces in Brazil with local business, social and political actors and cooperate to strengthen their competitive market position. The study concludes that successful cooperation is partially explained by the management’s ability to incorporate business resources into the needs of the socio-political actors. Furthermore, in object-based services, which are not similar to long-term business relationships, the three involved par-ties advance different types of relationships within a loose network structure. A key implication is that extensive public–private relationships are needed even when MNEs enjoy an established position in a foreign market.

Although there is extensive research in the field of services and lately on the internationalization of services, the topic of how service firms interact with society and political organizations, during their internationalization process, remains almost untouched. As an answer to the call for further research on the interaction between service firms, society and policy makers, this paper aims to advance the knowledge by proposing an integrative theoretical view. Dissimilar to the earlier research where each study stands on a specific theoretical discipline (economic, behavioural or political science), the proposed theoretical view asserts the need for an interdisciplinary approach. The integration of these three perspectives is vital since business, policy and society have different legitimacy and dependency grounds and yet their goals and objectives have been converging over the years. Isolating these disciplines from each other is, thus, not very helpful in advancing the knowledge and understanding the conditions, motives and consequences of multinational enterprises in foreign markets. Moreover, the internationalization of services and the extent of heterogeneity in service products/solutions, from banking to retailing and e-commerce, create new challenges that need for interaction between these parties; the three pillars of our society.

The features of the internationalization of emerging market multinational companies (EMNCs) create a laboratory for extending theory. In this paper, we argue that a high level of asymmetry between prior knowledge and a non-incremental commitment, such as an acquisition, lies at the core of understanding these types of internationalization processes. Our proposed theoretical view is that while some uncertainties in opportunity development are known to the firms and can be managed by available knowledge, disruptive commitments can result in complexes of unstable and unilineal dynamics that bring about unexpected and hence unforeseeable uncertainties. These uncertainties may be a source of future unintended consequences that will have an impact on the firm as the internationalization process unfolds. This view is used for analysis of a longitudinal case study concerning the acquisition of a Swedish firm, Vargon Alloys, by the Turkish corporation Yildirim Group, focusing on the opportunity discovery and exploitation period between 2008 and 2013. By dividing uncertainty into two types (foreseeable and unforeseeable) and analysing the hidden problems that emerged after the sudden fusion of the two networks, the study nuances understanding of the emergent and non-orderly nature of the internationalization process as it unfolds. From a process point of view, the study may aid deeper understanding of complications when discovering and exploiting opportunities.

Purpose - The authors are witnessing the increasing extent of corporate social responsibility (CSR) performance as strategic behaviour specifically in emerging markets. The purpose of this paper is to investigate how multinational companies (MNCs) manage CSR activities in emerging markets to aid their core business activities. In line with this question, the paper aims to develop a theoretical view for deeper understanding of the strategy in CSR practices aiding internationalization. The view is based on a business network perspective highlighting the four concepts of learning, commitment, legitimacy and trust. Design/methodology/approach - The methodology employed is qualitative, based on interviews with involved parties. The case study is about the experiences of a Korean MNC's CSR strategy when entering into the Chinese electronics industry. Findings - The case illustrates how the Korean MNC committed resources to gain trust and legitimacy that improved their market position. It further manifests that the firm's CSR strategy was proactive because of the large commitment in several long-and short-term projects towards the society. Investment in social issues like education, environmental problems and communities aided the firm's entry. Research limitations/implications - The study has a qualitative and in-depth nature. Future research is needed in order to generalize the proposed theoretical frame. Practical implications - The study manifests how a MNC employs CSR strategy for internationalization in a foreign market. It shows how managers can undertake different practical CSR measures to enter and expand in foreign markets. Social implications - While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses. Originality/value - While internationalization of firms is mainly based on their business commitment towards counterparts or business firms, the study shows how CSR strategy and activities towards the society support their businesses. The study investigates CSR strategy and enlightens activities like education and environmental problems. The study further develops the business network view and includes social aspects. The theoretical view holding the four relationship elements of trust, knowledge, legitimacy and commitment permits deeper understanding of the MNC's proactive CSR behaviour in new markets.

In this paper, the consequences of decisions by the EU on SMEs' business performance are analysed. The business network approach is employed to study how the coercive or supportive behaviour of political organisations directly and indirectly affect SMEs' business performance. The result highlights that the direct effect refers to the immediate interaction between the political and business units, whereas the indirect concerns the outcome of political units on other business firms that SMEs have relationships with. To test the assumed direct and indirect effect on business performance, four hypotheses are formulated and tested with PLS using data from a quantitative survey involving 134 SMEs in Sweden and the EU. The paper emphasises the importance of a firm's business relationships as being affected by coercive actions of political organisations, as well as receiving the full benefit from those actions of a supportive nature.

‘Tic-Toc-Tic-Toc’… a long time has passed for the business network approach. The main aim of this chapter is to discuss the history of boundary extension in business networks, starting in the old times and ending in the new times. Many researchers believe in the existence of the ‘business network’ to some degree. This chapter takes the perception of the business network as a point of departure, working from the perspective that its boundary depends on the intention of the observer. This perspective allows us to present a developmental journey of how the business network approach, over time and in different tempos, has gained its identity, whilst both implicitly and explicitly extended its boundary.

The arena of entrepreneurial behavior of MNCs from new emerging markets and how they develop opportunities in other new emerging markets is almost untouched. This paper tries to answer how firms from new emerging markets manage their entrepreneurships in other new emerging markets. Unlike the internationalization of Western firms, firms from new emerging markets often lack sufficient knowledge and therefore internationalize quickly by acquisitions. This entrepreneurial behavior is contaminated with high risk. How these firms manage the process of opportunity discovery and exploitation becomes an interesting topic for research. The study aims to develop a theoretical frame for analysis of the firms' entrepreneurial behavior when developing new opportunity. It employs business network view for deeper understanding of opportunity development in the process before and after an acquisition. The process view in this construction grasps the two internationalization elements of knowledge and resource commitment. Network approach is used to analyze the empirical case study of a Turkish firm's international opportunity discovery in Romania during the period of 1998-2014. The study aims to promote new knowledge on how firms from new emerging markets manage such opportunity when acquiring a firm from another new emerging market.