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La Expansión DE LA MULTINACIONAL ESPAÑOLA: ESTRATEGIAS Y CAMBIOS ORGANIZATIVOS

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La Expansión DE LA MULTINACIONAL ESPAÑOLA: ESTRATEGIAS Y CAMBIOS ORGANIZATIVOS LA EXPANSIÓN DE LA MULTINACIONAL ESPAÑOLA: ESTRATEGIAS Y CAMBIOS ORGANIZATIVOS Primer informe anual del Observatorio de la Con la colaboración de Empresa Multinacional Española (OEME) LA EXPANSIÓN DE LA MULTINACIONAL ESPAÑOLA: ESTRATEGIAS Y CAMBIOS ORGANIZATIVOS PRIMER INFORME ANUAL DEL OBSERVATORIO DE LA EMPRESA MULTINACIONAL ESPAÑOLA (OEME) Capítulo 1 010 El entorno macroeconómico de la expansión inversora española en el exterior Capítulo 2 026 Tendencias y factores de localización de la IED empresarial española en 1993-2007 Capítulo 3 076 De la internacionalización a la multinacionalización de la empresa: marcos teóricos para su análisis estratégico Capítulo 4 106 Análisis transversal de una muestra de empresas españolas en su proceso de internacionalización Capítulo 5 132 Financiación y resultados de los procesos de internacionalización Capítulo 6 148 La internacionalización del sector hotelero. El caso español Capítulo 7 166 Conclusiones CAPÍTULO 4 ANÁLISIS TRANSVERSAL DE UNA MUESTRA DE EMPRESAS ESPAÑOLAS EN SU PROCESO DE INTERNACIONALIZACIÓN Por Luis Vives y Xavier Mendoza Departamento de Política de Empresa de ESADE ANÁLISIS TRANSVERSAL DE UNA MUESTRA DE EMPRESAS ESPAÑOLAS EN SU PROCESO DE INTERNACIONALIZACIÓN Si evaluamos el grado y desarrollo de su internacionalización, España y las empresas españolas han conseguido un increíble desarrollo durante los últimos 20 años. España ha pasado de ser un país netamente receptor de inversión exterior directa (IED) a ser un país emisor, con un notable volumen de inversión exterior (como se ha discutido en el capítulo 1 de este informe), aproximándose en volumen de inversión a otros países europeos como puedan ser Francia o Reino Unido. En este mismo periodo, un buen de países “intermedios”1 en el Electric, IBM, Citibank, Procter número de empresas españolas ámbito de la internacionaliza- & Gamble, entre otras– se han sido capaces de desarro- ción, como el de otros países han unido empresas españo- llar, de manera muy exitosa, en los que se ha producido un las, como las ya citadas, que eprocesos de internacionalización fenómeno similar –entre los que pueden empezar a tratar con que han contribuido a situar se podría citar Corea del Sur–. ellas de tú a tú en cuestión de a una serie de empresas en Estos países “intermedios” tamaño (tanto si lo medimos posiciones de liderazgo en sus no desarrollaron una inversión por volumen de ventas como sectores. Compañías como Te- exterior y un posicionamiento por valor de compañía –ver lefónica, Repsol, Banco Santan- temprano notable de sus em- tablas 1, 2 y 3–). Pero en los der, BBVA, Iberdrola, o Inditex presas en mercados foráneos últimos años una serie de em- (sólo por citar algunos ejemplos) –como pudo ser el caso de presas provenientes de países son hoy empresas líderes en otros países, entre los que emergentes están avanzando sus respectivas industrias a podríamos citar Estados Unidos, con fuerza en su proceso de nivel mundial, cuando hace tan países de la Europa Occidental internacionalización y relevan- sólo 20 años apenas tenían o Japón–, pero sí han sido capa- cia en sus industrias –com- presencia más allá de nuestras ces de desarrollar un posiciona- pañías como Cemex, Lenovo, fronteras nacionales. miento relevante a nivel mundial Haier, Embraer–, aspecto por el Las empresas españolas habían antes de la reciente pujanza de que deberán ser importantes permanecido rezagadas en su los BRIC (Brasil, Rusia, India referentes para las compañías proceso de internacionalización y China) y sus empresas en el españolas en un futuro próximo cuando se las compara con ámbito internacional (como se (como se puede observar en otras compañías de países ha tratado en el capítulo 2 de la tabla 1, países como China O 4 desarrollados. De hecho, el este informe). cuentan ya con 29 empresas L caso de España y las empresas entre las 500 de mayor tamaño españolas se estudia en univer- A las bien conocidas multi- a nivel mundial, India cuenta TU sidades y escuelas de negocios nacionales de países como con 7 y Brasil y México con 5 de todo el mundo como ejemplo Estados Unidos –General cada uno). APÍ C 108 Tabla 1. RANKING DE EMPRESAS POR PAÍSES EN EL ‘Fortune GLOBAL 500’ (ED. 2008) Ranking País Número Ranking País Número 1 Estados Unidos 153 19 México 5 2 Japón 64 20 Rusia 5 3 Francia 39 21 Austria 2 4 Alemania 37 22 Dinamarca 2 5 Reino Unido 34 23 Finlandia 2 6 China 29 24 Irlanda 2 7 Corea del Sur 15 25 Noruega 2 8 Canadá 14 26 Bélgica/Holanda 1 9 Suiza 14 27 Reino Unido/ 1 Holanda 10 Holanda 13 28 Luxemburgo 1 11 España 11 29 Malasia 1 12 Italia 10 30 Polonia 1 13 Australia 8 31 Portugal 1 14 India 7 32 Arabia Saudí 1 15 Suecia 6 33 Singapur 1 16 Taiwán 6 34 Tailandia 1 17 Bélgica 5 (1) Agradecemos la idea de países “intermedios” en su 35 Turquía 1 4 18 Brasil 5 proceso de internacionali- zación al profesor Donald O Fuente: ‘Fortune Global 500’, edición 2008. Lessard. ÍTUL P CA 109 Tabla 2. RANKING DE EMPRESAS Españolas EN EL ‘Fortune GLOBAL 500’ (ED. 2008) Posición en el Ranking Ventas Compañía ‘Ranking Global Ciudad País (millones de $) 500’ 1 Grupo Santander Central Hispano 58 89.295 Madrid 2 Telefónica 76 77.254 Madrid 3 Repsol YPF 92 67.006 Madrid 4 Banco Bilbao Vizcaya Argentaria 134 51.449 Bilbao 5 Endesa 258 30.018 Madrid 6 ACS 270 29.171 Madrid 7 Cepsa 313 25.853 Madrid 8 Iberdrola 339 23.910 Bilbao 9 Grupo Ferrovial 424 20.062 Madrid 10 Fomento de Construcciones 440 19.267 Madrid 11 Grupo Mapfre 463 17.984 Majadahonda Fuente: ‘Fortune Global 500’, edición 2008. Tabla 3. RANKING DE EMPRESAS Españolas EN EL ‘FORBES GLOBAL 2000’ (ED. 2008) Ranking por Posición en el ‘For- Valor de Ventas Beneficios Activos capitalización Compañía Industria bes Global 2000’ mercado ($bil) ($bil) ($bil) ($bil) bursátil 1 34 Telefónica Telecomunicaciones 138,42 82,40 13,00 143,13 2 21 Banco Santander Banca 113,27 72,26 10,02 1.332,72 3 40 BBVA-Banco Bilbao Vizcaya Banca 78,29 54,34 8,94 733,14 4 122 Iberdrola Energía 72,78 25,50 3,44 97,59 5 113 Repsol-YPF Petróleo & Gas 42,35 61,80 4,36 67,93 6 609 Inditex Productos personales 32,50 10,66 1,30 7,35 7 451 Cepsa Petróleo & Gas 27,80 23,18 1,11 11,38 8 341 Gas Natural Group Energía 27,32 14,73 1,40 22,51 9 571 Abertis Transporte 20,29 5,28 1,00 30,41 10 278 Banco Popular Español Banca 19,21 12,66 1,84 156,45 11 226 ACS Group Construcción 18,06 31,11 2,26 72,40 12 363 Acciona Construcción 16,30 10,88 1,34 52,90 13 485 Banco de Sabadell Banca 11,33 6,80 1,14 112,08 14 409 Mapfre Seguros 10,33 16,97 1,00 54,87 15 1411 Gamesa Bienes de capital 10,03 3,15 0,41 4,84 16 383 Grupo Ferrovial Construcción 9,24 21,36 1,07 73,80 17 867 Metrovacesa Financiera diversificada 8,76 1,89 1,83 17,01 18 680 Sacyr Vallehermoso Construcción 8,73 6,18 0,72 35,32 19 1665 Red Eléctrica de España Energía 8,50 1,25 0,26 6,31 20 642 FCC Construcción 7,70 12,51 0,71 24,59 21 1647 Enagas Energía 7,23 1,14 0,35 5,79 22 1027 Acerinox Materias primas 6,56 10,07 0,46 6,49 23 1389 Banco de Valencia Banca 6,07 1,54 0,20 28,66 24 886 Bankinter Banca 5,91 3,79 0,53 72,48 25 1767 CLH-Cía Logística de Hidrocarburos Petróleo & Gas 5,32 0,65 0,47 2,34 26 1394 Banco Pastor Banca 3,94 2,41 0,30 36,97 27 1226 Iberia Transporte 3,43 7,74 0,48 8,08 28 1696 Abengoa Construcción 3,12 4,69 0,18 11,56 4 29 1633 Prisa Group Media 3,07 5,28 0,28 7,53 O Fuente: ‘Forbes Global 2000’, edición 2008. ÍTUL P CA 110 El objetivo de este capítulo es rosas trabas para el desarrollo analizar el desarrollo reciente de de su actividad (institucionales, algunas de estas compañías lí- arancelarias, culturales y de po- deres españolas y profundizar en sicionamiento, entre otras), que ámbitos de interés relacionados hacía ardua su penetración y con su funcionamiento estraté- desarrollo en nuestro país. Este gico y operativo. Pero antes de ámbito comienza a cambiar de adentrarnos en estos aspectos, manera notable con la acepta- resumiremos de manera breve ción y entrada de España en la el contexto que ha posibilitado la Comunidad Económica Europea creación de estas multinaciona- (CEE), en 1986. les españolas, y que ha sido es- tudiado en profundidad por otros Otro factor que también se ha autores (Duran Herrera, 1996, destacado como relevante a 1997, 1999; Guillén, 2005; San- la hora de explicar el tardío tiso, 2007 a, b; entre otros). desarrollo de las empresas españolas en el ámbito interna- LA CARENCIA DE cional ha sido la falta de acceso GRANDES EMPRESAS a fuentes de financiación. Y es MultinacionaleS que, aunque hoy en día podamos Las empresas españolas han “presumir” de contar con algu- Las empresas desarrollado una internaciona- nos de los bancos más impor- españolas han lización tardía, cuando se les tantes en la zona euro y de un compara con sus homónimas sistema financiero muy saneado desarrollado una de otros países desarrolla- (a pesar de la crisis que tanto internacionalización dos.
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