6 X 10.Long New.P65

Cambridge University Press 978-0-521-51614-3 - The New Multinationals: Spanish Firms in a Global Context Mauro F. Guillen and Esteban Garcia-Canal Index More information

Index

100 New Global Challengers, 124 107, 111, 116, 120, 126, 132, 134, A Coruña, 78 138, 139, 141, 142, 149, 150, 153, ABB, 186 154–8, 161–3, 178, 180–4, 189, Abbey National Bank, 21, 156 194–5, 204 Abeinsa, 186 ALSA, 166, 167, 168, 169, 170, 171, 180, 189, Abelló, Juan, 88 190, 191, 196, 198, 200, 201 Abengoa, 186 Alstom, 186, 188 Abertis, 130 Altos Hornos de Vizcaya, 112 ABN AMRO, 22, 156 Altos Hornos del Mediterráneo, 112 Abu Bint, 59 Amazonia Celular, 139 Accenture, 1, 2, 76 Amena, 151 Acciona, 15, 16, 18, 116, 118, 119, 130, 144 América Móvil, 133, 136 Aceica Refinería,59 American Beauty, 57 Aceitunas y Conservas, 59 American Rice, 59 Acelik, 97 American TXU, 144 Acer, 6, 12, 203 Americas, 13, 78, 80, 94 Aceralia, 113 Amsden, 42, 44, 124, 131, 187 Acerinox, 13, 15 Andalucía, 59 ACS, 16, 127, 130, 144, 152, 186 Anglian Water, 158 Adeslas, 161, 162 Antoveneta, 155 ADN, 182 Applus+, 160, 162 Adolphus, 59 Arana Maderas, 58 AESE, 178 Arbed, 113 Africa, 11, 13, 60, 80, 94, 119, 134, 164, 168 Arcelik, 36, 200, 202 Agbar (Aguas de Barcelona), 131, 133, 157, Arcelor, 111, 112, 114 158, 159, 160, 161, 162, 163, 164, Arcelor Distribución Iberia, 112 196, 199, 200 Arcelor-Mittal, 111, 112 Agua Lavanda Puig, 90 Archer Daniels Midland, 72 Ahorro Corporación, 88 Arcor, 12, 54, 55, 71, 72, 74, 194, Airbus, 107, 120 197, 200 Airbus A350, 107 Argentaria, 20, 158 Airtel, 151 Argentina, 3, 4, 5, 9, 10, 12, 21, 54, 71, 72, Alabama, 69 80, 96, 105, 114, 126, 135, 149, 153, Alcampo, 85 154, 159, 160, 178, 183, 188 Alcor, 107 Ariel, 181 Angelo Alfred, 81 Arizmendiarrieta, José María, 93 Algeria, 58, 159 Arrasate, 93 Alicante, 83, 86, 88 Arriva, 169 Alierta, César, 139 Arrocera del Trópico, 59 Alliance & Leicester, 155 Arrocerías Dársena, 59 alliances, 13, 23, 25, 30, 35, 40, 44, 47, 50, Arrocerías Herba, 56 58, 60, 66, 68, 71, 74, 77, 96, 98, Arroz Sos Sevilla, 59

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216 I n de x

Asia, 2, 11, 13, 36, 54, 69, 71, 72, 78, 80, 82, Bogal Bolachas, 59 86, 87, 89, 90, 94, 110, 112, 118, Bolivia, 149 140, 147, 164 Bombardier, 9 Asia-Pacific,147 Bonardi, Jean-Philippe, 127 Associated British Foods, 56 Borrás, 86 Asturias, 112, 167 Bosch, 94, 96, 97, 102, 183 AT&T, 136, 138 Bosch Siemens, 94 Auna, 151 Bosto, 58 Australia, 60, 65, 72, 120, 121, 122 Boston Consulting Group, 6, 9, 27, 76, 124 Austria, 137 Botín, Ana Patricia, 157 Autobuses Lit, 171 Botín, Emilio, 151, 153, 154, 157, 192 AVA NZA, 169 Bouygues, 158 Avui, 182 Brackenbridge, 81 Bradford & Bingley, 155 Babcock & Brown Wind Partners, 121 brands, 1, 6, 27, 30, 35, 39, 40, 41, 46, 53, Banco Central Hispano, 150, 151 56–75, 76–96, 129, 150, 181, 192, Banco Pastor, 88 192–203 Banco Real, 155 Brazil, 1, 3, 4, 5, 8, 9, 10, 12, 13, 21, 28, 45, Banco Santander, 28, 60, 88, 130, 151, 153, 60, 69, 72, 78, 91, 99, 105, 106, 107, 157 108, 110, 114, 115, 127, 135, 139, Bandai, 83 154, 155, 156, 159, 174, 178, 183 Banespa, 156 Brides International, 81 Banesto, 154 Brillante, 58 Bangladesh, 79 British Water, 159 Barbie, 84 Brussels, 170 Barcelona, 17, 61, 81, 91, 102, 104, 106, 108, BT, 138 109, 112, 113, 131, 158, 174, 179, Buckley, 30, 36, 43, 44 182 Bucks County, 121 Barsa International Publishers, 183 Buenos Aires, 179 Basque Country, 66, 93, 96, 112 Burgos, 112 BBV, 154 BBVA, 17, 21, 130, 141, 142, 154, 175 CIS, 62 Bechtel, 158 Cables Gandía, 103 Beijing, 72, 172 Caja de Ahorros del Mediterráneo, 88 Belgium, 123, 168, 170, 184 Caja Laboral Popular, 93 BellSouth, 139 Caja Madrid, 60, 113, 161 Benetton, 79, 98 California, 64, 72, 159 Berlinwasser, 158 Cambodia, 79 Bernabé Biosca Tunisie, 59 Cambria County, 121 Bertelsmann, 182, 183 Campa, José Manuel, 38 Bertolli, 60 Canada, 55, 57, 58, 62, 69, 73, 76, Bharat Forge, 12, 124, 125, 199, 200 120, 184 Biar, 86 Canal Satélite Digital, 141 Bic, 89, 90 Canals, Jordi, 176, 177 Bich, Marcel, 90 capabilities, 48, 70, 123, 199 Bilbao stock exchange, 58 and distribution channels, 24, 57, 62, Bimbo, 10, 12, 54, 55, 71, 72, 73, 74, 194, 77, 82, 84, 89–92, 98, 181, 184 198, 200 internal and external, 66, 75, 77, 97–8, Blue Ribbon, 59 194–5, 204 BMW, 102 of the new multinationals, 31–50, Boeing, 120, 175 197–204

index 217

project-execution, 2, 23, 51, 123–4, Compañía Peruana de Teléfonos, 138 131–2, 142–3, 163, 186–7, 193, 195, Compass, 22 197–9, 202–4 competitive advantage, 33 CapitaLand, 9 Confederation of Spanish Savings Banks, Carapelli Firenze, 59 88 Carbonell, 58, 59 Continental, 169 Cariplo, 155 Cordón Negro, 63 Carolina, 58 Corporación Gestamp, 18, 101, 102, 110, Carrefour, 84, 85 111, 115, 123, 124, 125, 195, see Casa Editorial El Tiempo, 183 Gestamp Casanova, 20, 177 Corsan, 186 case-study method Cortina, Alfonso, 20 comparative Cosmen, Andrés, 172 as a teaching tool at business schools Cosmen family, 168, 169 Castellano, José María, 79 Cosmen, José, 166, 168, 171 Castellblanch, 64 Costa Rica, 69, 149, 153, 174 Castilla, 86 Cricket, 89 Catalonia, 82, 158, 177 Croatia, 80 Cavallé, Carlos, 176 CTC, 135 Caves, Richard, 52 Cuba, 159 CEIBS, 174, 178 Cuétara, 59, 60 Cemex, 7, 10, 12, 28, 203 Curitiba, 110 Central America, 69, 149 Czech Republic, 69, 72, 108, 110, 139 Centro de Estudios CEAC, 182 Cepsa, 145 Daewoo, 105 Cesky Telecom, 138, 139 Daimler-Benz, 102 challengers, 1, 27, 76, 98 Danone, 73, 74 Chile, 1, 3, 4, 5, 9, 45, 72, 83, 135, 153, 154, Daum Communications, 141 159, 169, 171, 178, 183, 188 DBK, 169 China, 1, 3, 4, 5, 6, 7, 9, 10, 12, 28, 36, 52, DeAgostini, 181, 183, 189 65, 68, 69, 72, 78, 79, 80, 81, 84, Del-Met, 110 85, 87, 88, 90, 94, 97, 105, 106, 107, Delphi, 102, 125 108, 110, 114, 116, 117, 118, 119, Denmark, 116, 117, 118, 119, 123 120, 122, 123, 124, 125, 127, 134, Denso Corporation, 102 140, 160, 169, 170, 171, 174, 178, Departamento de Acción y Consultoría 186, 189, 194 Externa, 147 China Netcom, 134, 140 Destino, 181 Chupa-Chups, 54 Detroit, 68 CIE Automotive, 101 Deutsche Telekom, 134 Cinta Azul, 59 Deutsche Touring, 171 Citroën, 103, 108, 113, 114 Devro, 66, 67, 69 City Developments, 9 discriminator, 200 Clipper, 89 Disney, 83, 85 Codorníu, 14, 62 distribution channels, 24, 57, 62, 77, 82, 84, Colombia, 73, 80, 135, 149, 154, 159, 178, 89–92, 98, 181, 184 183, 188 diversification, product, 53, 55, 102 Comarro, 68 Dominican Republic, 149, 153 Comercial de Laminados, 112 Dos en Uno, 73 Comet, 59 Dragados, 151 Commerzbank, 155 dragon multinationals, 2 Compagnie de Suez, 162 Dubai, 11, 12, 45

218 Index

Dumez, 162 Endesa, 7, 16, 20, 130, 143, 144, 148, 150, Dunning, 43, 100, 193 151, 152, 158, 161, 165 Duro Felguera, 167, 168, 184, 186, 187, 188, Enel, 144, 145, 165 189, 190, 196, 198, 200 Enercon, 118, 122 Energoinfo, 147 EAE, 182 England, 118 Eastern Europe, 58, 80, 94, 96, ENI, 150 147, 171 Enka Insaat ve Saayi, 11 Ebensburg, 121 Ensidesa, 112 Ebro, 14, 54, 55, 56, 57, 58, 60, 61, 71, 72, 74, Entel Chile, 135 194, 198, 200 Entel Perú, 138 Ebro Agrícolas, 56, 57 EOI, 174 Ebro Puleva, 14, 54, 55, 56, 57, 58, 60, 71, Eroski, 85, 94 72, 74, 198, 200 ESADE, 174, 179 Ebro valley, 61 Escuela de Organización Industrial, 174 Echevarría, Jaime, 66, 68, 70 ESE, 178 Eckes, 63 Espasa Calpe, 181 economies of scale, 41, 50, 54, 57, 60, 69, Estampaciones Arín, 114 73, 76, 84, 95, 101, 103, 109–10, Eurasia, 69 118, 124, 129, 131, 185, 189, 192, Eurodom, 96 201, 203 EUROLINES, 168 Economist Intelligence Unit, 175 Europe, 9, 11, 13, 20, 21, 40, 41, 45, 54, 55, Ecotecnia, 119 62, 66, 71, 72, 73, 78, 80, 83, 90, Ecuador, 149, 153, 178, 183 93, 94, 104, 105, 108, 110, 112, EDF, 145 116, 118, 119, 122, 125, 130, 133, Ediciones Deusto, 181 134, 139, 142, 155, 156, 159, 168, Editis, 184 173, 174, 175, 177, 178, 180, 182, Editorial Deusto, 182 187, 194 Editorial Dom Quixote, 183 Europe and the North American Free Trade Editorial Joaquín Mortiz, 183 Agreement, 55 Editorial Sudamericana, 183 European Economic Community, 18, 95 EDP, 122, 143, 144, 182 European Union, 18, 55, 58, 83, 95, 101, EDP-Editores, 182 104, 114, 133 Educa, 86 eurozone, 131, 153 Egypt, 1, 4, 5, 58, 80, 81, 164, 178 Executive MBA, 175 Egyptian General Petroleum Corporation, Exin, 86 150 expansion: see foreign expansion Eisenhardt, 25 exploration of new capabilities, 133 Eko, 86 El Corte Inglés, 85 Fabrelec, 95 Electrolux, 94, 96, 97 Fábricas Agrupadas de Muñecas de Onil Electronic Arts, 83 SA, 86 Embraer, 9, 12, 28, 120, 203 Fagor Ederlan, 101 Emecé, 183 Fagor Electrodomésticos, 92, 94, 95, 97, 98, emerging multinationals, 2, 66 195, 201, 202 Empresa Cosmen, 168, 169 Fagor Electrónica, 93, 97 Empresa Nacional de Telecomunicaciones, Falca, 87 135 Famosa, 82, 83, 85, 86, 87, 88, 98, 194, 200 Enatcar, 169, 171 FAW Corporation, 125 En-BW, 144 FCC, 130, 158 Endemol, 140, 141, 142 Feber, 88

index 219

Federal Forge, 125 Gamesa, 15, 18, 101, 102, 116, 118, 119, 120, Fénix, 145, 146 121, 122, 123, 124, 195, 198, 200, Fenosa, 131, 143, 144, 145, 146, 147, 148, 202, 203 149, 150, 151, 158, 161, 164 Gamesa Energía, 120, 121, 122 Fernández, 170, 174, 177 Gamesa Eólica, 120, 121 Ferri, Jaime, 86, 88 Gamex, 69 Ferrodisa, 112 Gap, 79 Ferrovial, 16, 22, 130 García, Sever, 76, 81 Fiat, 102, 103 Garfield,88 Fico Co Cipa SARL, 104 Gas Natural, 15, 17, 20, 144, 145, 152 Fico Co Triad, 104 Gaz de France, 162 Ficosa, 18, 99, 101, 102, 103, 104, 105, 106, GazdeFrance-Suez, 157 107, 108, 110, 115, 123, 124, 125, Gazmash, 97 126, 195, 200 Gazprom, 9, 12, 97 Ficosa International, 99, 102, GDA, 96 104, 108 GE, 94, 97, 118, 120, 122 Finland, 76 GE Wind, 118, 120, 122 First Energy Solutions Corp., 121 General Domestic Appliances, 96 Flamagas, 82, 89, 90, 91, 92, 197, 200 General Electric Power Systems, 186, 188 Flaminaire, 90 General Motors, 100, 101, 102, 103, 108 Forbes, 2925n, 78 generalist, 200 Ford, 89, 100, 101, 102, 103, 104, 108 Geneva, 170 Ford España, 89 Germany, 3, 4, 5, 60, 62, 63, 65, 68, 69, 76, foreign direct investment (FDI), 2–6 94, 104, 106, 107, 114, 116, 117, 118, defined,2 –3 123, 125, 134, 137, 139, 155, 168, Spanish, 11–23 171, 178 See also MNE Gestamp, 101, 102, 111, 113, 114, 115, 123, foreign expansion, horizontal and vertical, 124, 126, 200 29–30 Gestamp Automoción, 113, 114, 115 Formosa Plastics, 6 Ghemawat, Pankaj, 92 Fort Worth, 72 global alliance, 35, 138 Fortis, 155 Global Executive MBA, 175 Fortune Global 500 6, 10, 76 global generalist, 200 Foya de Castalla, 86 global niche player, 197, 200 France, 3, 4, 5, 58, 61, 65, 76, 86, 89, 94, 96, Global Wind Energy Council, 117 104, 106, 108, 113, 133, 134, 155, Gloria Ferrer, 64 161, 162, 168, 170, 171, 175, 184 Goldman Sachs, 122 France Telecom, 133 Goldwind, 120 Fraser and Neave, 9 Gonvarri, 111, 112, 113, 115, 116 Freixenet, 13, 14, 53, 54, 55, 61, 62, 63, 64, Gonvarri Galicia, 113 65, 66, 71, 74, 194, 200 Gonvarri Infraestructuras Eólicas, 115 Freixenet Alemania GmbH, 62 Gonvauto, 113 Freixenet Sonoma Caves, 64 González Barrera, Roberto, 72 Freixenet USA, 62 Granini, 63 French Perfect Wind SAS, 144 Greece, 81 Friol Italia, 60 Gruma, 10, 54, 55, 71, 72, 74, 194, 197, 200 Funcor, 93 Grupo Antolín, 13, 15, 101 Grupo Bimbo, 53, 71, 72 García Márquez,Gabriel, 183 Grupo Ferrovial, 7, 15, 18 Gal, 90 Grupo Globo, 183 Galicia, 78, 80, 115, 160 Grupo Industrial Arana, 58

220 Index

Grupo Modelo, 11 Iberinco, 186 Grupo SOS, 14, 54, 55, 58, 60, 74 Iberpacific,147 Grupo Velasco, 112 Iberpapel, 66 Guandong Province, 79 Ibersis, 147 Guangzhou, 87 Ibi, 86 Guatemala, 72, 80, 149, 153, 178 IDE, 178 Güendolina, 86 IE Business School, 174, 179 Guyana, 60 IE Universidad, 179 IEEM, 178 H&M, 78, 80 IESE Business School, 167, 168, 173, 174 Haier, 10, 28, 36, 94, 96, 97, 200, 202, 203 Imatra Kilsta AB, 125 Hamel, 25, 124 IMD, 174 Hansen Transmissions, 123 IME Institute for Media Entertainment, hard services, 168 178 Harper, 184 Imperial Tobacco, 91 Harvard, 173, 175, 176, 178, 189 Iñaki Santillana, 136 Harvard Business School, 175 INALDE, 178 Haryana, 110 INCAE, 174 Hasbro, 83, 84, 85, 86 Indesit, 94 Henkel, 175 India, 1, 3, 4, 5, 9, 10, 12, 13, 28, 58, 78, 79, Hennart, 30, 40, 152, 204 80, 81, 91, 105, 106, 107, 110, 114, Henri Abelé, 64 117, 118, 120, 122, 123, 124, 125, Hernández Callejas, Antonio, 56 127, 186, 188 Hernández Callejas family, 56 Inditex, 13, 77, 78, 79, 80, 81, 82, 98, 194, Hiasa, 112 200, 203 Hidrocantábrico, 144 Indonesia, 1, 9 Hidroeléctrica Española, 143 Indra, 152 Hijos J. Sos Borrás, 59 Industrial Yorka, 109 Hikino, 42, 44, 124, 131, 187 Industrias Alimentarias de Navarra, 68 Hipercor, 85 Industrias Metalúrgicas Pescarmona, 11 Hisusa, 161, 162 Infosys, 9, 12, 127, 190, 203 Hoechst, 68 Injusa, 87 Holland, 60 INSEAD, 174 Home English, 182 intangible assets, see capabilities Hometek, 95 Institute of Higher Business Studies, 174 Honda, 102 Instituto de Empresa, 179 Hong Kong, 3, 4, 5, 7, 8, 9, 84, 87, 172 Instituto de Estudios Superiores de la Horizon Wind Energy, 122 Empresa, 174 horizontal expansion, 30 Instituto Hispánico del Arroz, 56 Huawei, 10 Interagua, 159 Hutchison Whampoa, 7, 9 Interbrand, 76 Hymer, Stephen, 27, 28, 30 Interforum, 184 Hyundai, 6, 7, 76 International Energy Agency, 185 International Faculty Development IAE, 178 Program, 178 Iberáfrica, 147 International Organization of Motor Iberdrola, 16, 22, 116, 119, 130, 143, 144, Vehicle Manufacturers, 100 148, 152, 186 International Trade Commission, 68 Iberduero, 143 Interván, 59 Iberian Peninsula, 59, 104 Inveralia, 88

index 221

investment development path, Larios, 88 theory of, 100 Larousse, 181 IPADE, 178 Las Flores I, 188 Ireland, 1, 3, 4, 5, 7, 10, 134 Lassie, 59 Irizar, 172 latecomer firms, 1 ISE, 178 Latin America, 2, 9, 10, 20, 44, 45, 47, 54, Ishikawajima-Harima Heavy Industries, 58, 62, 71, 72, 74, 80, 82, 89, 90, 188 96, 116, 119, 133, 134, 135, 137, Isidro Rico Juan, 86 139, 142, 147, 148, 149, 150, 153, Isidro Rico Miralles, 86 154, 155, 157, 163, 171, 179, 180, Isolux, 186 182, 183, 187, 188, 189, 190, 192, Italy, 3, 4, 5, 60, 61, 72, 76, 86, 94, 194, 196 96, 104, 106, 109, 115, 118, LBS, 178 137, 144, 150, 155, 165, 181, 188 Lego, 83, 86 ITERA, 150 Lenovo, 10, 12 Itochu, 65, 90 León, 78 ITT, 132 LG, 6, 8, 94, 96, 203 Lille, 175, 176 joint ventures, 23, 72, 81, 96, 103–7, 114, Lisbon, 87 125, 137, 139, 160, 171, 172, 181, Lleida, 104 188 London Business School, 174, 178 Japan, 4, 5, 65, 76, 81, 84, 89, Long Distance, 160 105, 106, 120, 155, 184, 188 Los Palacios, 59 Jove, José Luis, 160 Louit, 58 JP Morgan, 157 Lukoil, 9 Juguetes Picó, 89 Lycos, 140, 141, 142 Lyon, 170 Kellogg, 178 Lyonnaise des Eaux, 132 Kemper, 155 Kenya, 147, 178 Mabe, 36, 97, 200, 202 Kenya Power & Lighting Company Ltd Madrid, 17, 23, 61, 66, 87, 112, 151, 170, 174, (KPLC), 147 175, 179 Keolis, 171 Magna International, 102 Klöckner & Co AG, 112 Magneti Marelli, 105 Koipe, 59 Mahatma, 58 Koipesol, 59 Maier Sociedad Cooperativa, 109 Koteksprodukt, 69 Makro, 85 Kraft Foods, 57 Malaysia, 3, 4, 5, 7, 9, 10, 13, 97 Kunshan, 114 Mango, 82, 90 Kuwait, 9, 56, 57, 80 Manila Electric Railroad and Light Kuwait Investment Office, 56, 57 Company (MERALCO), 147 market reforms, 128, 130, 144, 154, 163, 185 La Caixa, 161, 162 Marrakesh, 168, 171 La Cigala, 58 Martini Rossi, 61 La Razón, 182 Marvel Comics, 83 Lacks Enterprises, 109 Matricería Deusto, 114 Lágrima Real, 65 Mattel, 83, 84, 85, 86 Lames Ibérica, 103 Maurice Lecoy, 104 Laminados Velasco, 112, 114 MBA, 173, 175, 176, 179 Lara Bosch, José Manuel, 182 McDonald, 72

222 Index

MCI, 138 Muerza, 68 McKechnie, 109 multi-domestic generalist, 200 Mera, Rosalía, 78 multilatinas, 2 Meralco, 149 multinational enterprise (MNE) Mercedes-Benz, 100 new, 1–11, 31–52 mergers and acquisitions, 2, 11, 18–24, theory of, 192, 204 35–6, 40, 44–50, 53–61, 65–6, Munich, 174 71–5, 77, 88, 92, 95–8, 110, 113–4, Myrurgia, 90 120, 123–5, 134–84, 190–9, 201 Merloni, 96 Nancy (doll), 86 Metalbages, 114 Nanjing, 172 Metalúrgica Gerdau, 9 Nanyio Transportation Services Co. Ltd, Metropolitan Life, 155 172 Mexico, 1, 3, 4, 5, 7, 9, 10, 12, 21, 28, Narula, 100 36, 45, 54, 60, 64, 66, 69, 71, Natura Cosméticos, 9 72, 81, 83, 84, 87, 97, 99, 105, 106, Naturgas, 145 108, 110, 115, 133, 136, 139, 149, Naturin GmbH, 67, 68 153, 154, 178, 183, 188 Navarre, 66, 113 Mexico City, 87 Navitas, 120 Michigan, 68, 110, 178 NEG Micon, 118 Microsoft, 83, 84 Nenuco, 86 Middle East, 2, 11, 58, 78, 80, 164 Nepture Orient Lines, 9 Milady lipstick, 89 Nestlé, 54, 73, 74 Milan, 87 Netherlands, 3, 4, 5, 59, 72, 76, 123 Minerva Oil, 59 network organization, 44, 51 Minneapolis, 121 networking skills, 2, 33, 36, 51, 60, 197, Minnesota, 120 199, 202–4, see also capabilities Minotauro, 183 new multinationals, see multinational Minute Rice, 57 enterprise Mira Vidal, Ramón, 86 New World Pasta, 57 MIT (Massachusetts Institute of New York, 137, 174 Technolog y), 176, 178 Nicaragua, 149 Mitsubishi Heavy Industries, 188 niche player, 200 Mobile Telecommunications Nigeria, 1, 178 Company, 11 Nintendo, 83, 84, 85 Modelo, 12, 54 Nissan, 100 Moët & Chandon, 61 Nomura, 155 Moldova, 149 Norconsult, 146 Mollet del Vallès, 106 Norsistemas, 146 Mondragón, 15, 92, 93, 95, 97, 109 North Africa, 66, 96 Mondragón Corporación Cooperativa, 92, North America, 11, 45, 54, 56, 69, 72, 118, 93, 109 137, 138 Monterrey, 105 Northern Europe, 80 Moreira Gomes e Costa, 171 Norway, 118 Mori Lee, 81 NTU, 178 Morocco, 58, 79, 94, 96, 115, 134, 137, 159, 168, 170, 171 O2, 22, 134, 139 MR Ediciones, 181 Ocean, 96 Mr. Potato Head, 84 OHL (Obrascón Huarte Laín), 130 Mrs. Baird, 72 Olam, 9

index 223

oligopolistic rivalry, 52, 57 Porto, 80, 103 Oman, 80 Portugal, 1, 10, 59, 60, 79, 81, 91, 103, 104, Onda Cero, 182 106, 114, 115, 137, 139, 143, 144, Onil, 83, 86, 87 159, 160, 168, 170, 171, 178, 180, Onilco Innovación SA, 87 183 Opel, 114 Portugal Telecom, 137, 139 Opus Dei, 174, 176, 177 Prahalad, 124 Orange, 133 Premio Planeta, 180 Orascom, 11, 164 Prieto Iglesias, José Manuel, 146 Original Equipment Manufacturers, 111 Priorat, 65 Ortega, Amancio, 78 PRISA (Promotora de Inforamaciones Oryza, 58 SA), 141 Oviedo, 170 project-execution capabilities, see capabilities PAD, 178 Pronovias, 13, 14, 76, 77, 81, 82, 98, 194, Pagani family, 73 198, 200 Paidós, 183 Pronuptia, 81 Palatchi family, 82 PSA Peugeot Citroën, 102 Panama, 153 PTT Telecom, 138 Panrico, 72 Public Works Financing, 130 Panzani, 57 Puerto Rico, 58, 59, 83, 135, 154 Papelera Guipuzcoana de Zicuñaga, 66, 67 Puig, 89, 174, 177 Paraguay, 73 Puig, Antonio, 89 Paris, 87, 170 Puig Beauty & Fashion, 90 Paseig de Gràcia, 81 Puig family, 89 path dependence, 36 Pujol Artigas, José María, 102 Paulova, 86 Puleva, 56, 57, 58, 194, 199 Paya, 86 Puleva Biotech, 58 Pegaso Telefonía Móvil, 139 Pune, 123 Peguform France, 110 Penedès, 61, 65 R&D (research and development), 38, 60, 64, Pennsylvania, 121 69, 84, 92, 95, 96, 99, 104, 106, 107, Pérez, Florentino, 127, 152 114, 119, 123 Peru, 68, 72, 135, 138, 154, 178, 183, 188 Radica Games, 84, see also technology Peugeot Citroën, 100 Random House, 184 PhD in Management, 175 Rasoi Group, 60 PhD program, 178 Reddy, 152 Philadelphia, 121 Reis Fit, 58 Philippines, 54, 149, 178 Reliance Steel & Aluminum Co, 112 Pictolin, 59 Renault, 100, 101, 102, 103, 108, 114 Pierina, 86 Renault-Nissan, 102, 108 Planeta, 167, 168, 180, 181, 182, 183, 184, Rendell, Ed, 121 189, 190, 191, 196, 200, 203 René Barbier, 64 Planeta do Brazil, 183 REpower Systems AG, 123 Play by Play, 88 Repsol, 7, 15, 17, 20, 21, 130, 175 Plush Games, 88 resources, see capabilities Pokémon, 88 Retevisión, 151 Poland, 10, 69, 91, 94, 96, 105, 184 Rias Baixas, 65 political skills, see capabilities Ribera del Duero, 65 Polyplastics, 110 Riberas Pampliega, Francisco, 111

224 Index

Riceland, 58 Shijiazhuang, 172 Ris Fix, 58 Siemens Westinghouse, 186, 188 Riviana Foods, 57 Sikorsky, 120 Rodoviaria do Tejo, 171 Silicon Valley, 140, 175 Romania, 105 Singapore, 2, 3, 4, 5, 7, 9, 10 Ronzoni, 57 Single European Act in 19, 138 Royal Bank of Scotland, 88, 155 SingTel, 7, 9 Rubiales, Manuel, 87, 88 Sinovel, 120 Rumasa, 64 Sistema de Gestión Comercial, 146 Russia, 1, 3, 4, 5, 9, 10, 12, 65, 69, 91, 97, Sistema de Gestión de la 105, 107, 114, 127 Distribución, 146 Rutas del Cantábrico S.L., 169 Slim, Carlos, 133 Ryerson Inc., 112 Slovakia, 115 Snoopy, 88 Sacesa, 107 Sociedad General Azucarera, 56 Sacyr Vallehermoso, 158 Sociedad General de Aguas de Barcelona, Sagunto, 112 157 Sala Vivé, 64 Sogecable, 141 Salamanca, 170 Sol Meliá, 17, 18 Salazar, Jaime, 58 Sollac Aceros, 113 Saludaes, 59 Sony, 83, 84, 85 Samsung, 6, 7, 12, 76, 203 Soria, 104 San Juan, 87 SOS, 55, 58, 59, 60, 61, 71, 72, 74, 194, 198, San Miguel, 54 200 Santander, Banco, 17, 18, 21, 130, 131, 133, Sos Arana Alimentación, 59 151, 152, 153, 154, 155, 156, 158, SOS-Cuétara, 59 163, 164, 175, 192, 196, 198, 200, South Africa, 3, 4, 5, 13, 134, 150 203 South America, 66, 69 Santander Investment, 157 South Korea, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, Sara Lee, 59 12, 36, 45, 46, 52, 76, 80, 84, 92, 94, Sasso, 58, 59 99, 105, 106, 122, 126, 141, 203 Saudi Arabia,10, 59, 81 Southern Europe, 54, 80, 192, 193 SBS, 178 Southfield,110 scale, see economies of scale Sovereign Bankcorp, 155 School of Business Administration, 178 Spain, 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 13, 18, 19, Scotland, 66, 118, 125, 155 20, 21, 22, 23, 24, 25, 28, 45, 52, Scottish Power, 22, 144 54, 55, 56, 57, 58, 59, 60, 61, 63, 64, Scottish Stampings Ltd, 125 65, 69, 72, 73, 76, 77, 79, 81, 82, 83, SEAT, 103, 113 84, 86, 87, 88, 89, 91, 93, 94, 95, 99, Seix Barral, 181 100, 103, 104, 106, 107, 108, 110, Sempere, Ramón, 86 112, 114, 115, 116, 117, 118, 119, Serbia, 69, 80 120, 122, 124, 126, 131, 132, 133, services, 135, 136, 140, 141, 143, 144, 145, hard and soft, 166–7 146, 148, 149, 150, 152, 153, 154, professional and non-professional, 167 156, 157, 158, 160, 165, 166, 168, Servitje family, 71 169, 170, 171, 172, 174, 177, 179, Severn Trent, 158 180, 182, 183, 185, 188, 190, 191, Severstal, 9, 114 193, 194, 195 Seville, 59 Spanish Association of Toy Manufacturers, Shanghai, 87, 90, 91, 172, 175 85 Shenzhen, 172 Spanish Ganomagoga Group, 115

index 225

Special Economic Zone, 172 Thailand, 1, 9, 10, 58, 69, 97, 99 Spiderman, 83 The Limited, 79 St. Joseph’s University, 121 third-world multinationals, 1 strategic alliances, see alliances Thomson Electroménager, 96 strategies of the new MNEs, 197–9 Thyssen Ros Casares, 112 Suez, 145, 157, 158, 160, 161, 162 Thyssenkrupp Steel, 112 Sultanate of Oman, 150 Tianjing, 172 SUMAQ, 179 Tibi, 86 Sun Microsystems, 175 Tokai, 89, 90 Super Mario, 88 Tokai Corporation, 90 Supra, 170, 172, 201 Torras family, 109 Suzlon, 120, 122, 123, 198, 200 Torreal, 88 Suzlon Energy Ltd, 122 Toyota, 76, 102, 110 Suzuki, 101, 108 Transpar Ibérica, 103 Sweden, 31, 62, 76, 78, 114, 118, 125 Transportes Colectivos, 169 Swedish Match, 89, 90 Trend, 81 Swiss Telecom, 138 Tunisia, 58, 59, 60, 80 Switzerland, 62, 76, 107, 137, 168, 170, 184 Turkey, 1, 4, 5, 9, 10, 36, 79, 80, 81, 91, 97, 105, 107, 114 Taiwan, 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12, turnkey plants, 24, 44, 115, 128, 146, 167, 99, 126 184–90, 198 Taiwan Semiconductor Manufacturing Turytrans, 169 Corporation, 6 Target, 84 UBS, 107 Tarragó, José María, 102 UK, 62, 104, 119, 120, 134, 139, 150, 155, Tas Choapa, 171 168 Tata Consultancy Services, 9, 28, ULGOR, 93 127, 190 unconventional multinationals, 1 Tata Group, 81, 105 Unilever, 54, 60, 74 Tata Nano, 107 Union Carbide, 67, 68 Tavex, 13, 14 Unión Eléctrica, 143, 145 Tayasal Escuela de Negocios, 178 Unión Eléctrica Fenosa, 143 technology see also R&D Unión Fenosa, 130, 131, 133, 143, 145, 146, Technomatic, 103 147, 148, 149, 150, 151, 152, 155, Técnicas Reunidas, 186 157, 158, 160, 162, 164, 196, 198, Teepak, 67, 68, 69 199, 200 Telecom Italia, 140 Unisource, 138 Telefónica, 7, 16, 18, 20, 21, 22, 130, 131, United Arab Emirates, 1, 3, 4, 5, 9 132, 133, 134, 135, 136, 137, 138, United States, 3, 4, 5, 13, 21, 40, 41, 55, 57, 139, 140, 141, 142, 151, 152, 157, 58, 60, 61, 62, 65, 66, 69, 71, 72, 73, 175, 198, 199, 200, 203 74, 76, 78, 80, 84, 89, 90, 108, 116, Telefónica Chile, 135 117, 118, 119, 120, 121, 122, 123, Telefónica Internacional, 136 155, 159, 177, 194 Telemig Celular, 139 Universidad Comercial de Deusto, 174 Telerín, 86 Universidad SEK, 179 Telia AB, 138 Universitat Ramón Llul, 179 Telmex, 133 University of Barcelona, 182 Tenaris, 11, 12, 203 University of Navarra, 174 Tennessee, 110 University of Pennsylvania, 121 Terra, 140 University of Uppsala, 31 Texas, 121 Uno-e, 140, 141

226 Index

Uruguay, 73, 150, 153, 159, 178 Want Want, 9 Usinas y Transmisiones Eléctricas, 147 Wanxiang, 124, 125, 200 Usinor, 113, 114 Warner Bros, 83, 85 Warren Buffet, 78 Vaillant, 96 Wegu Ibérica, 110 Valencia, 112 Wenzhou, 90 Valero, Antonio, 175 Western Europe, 83, 89, 96, 108, Valladolid, 112 150, 153 Valley of Toys, 83 Western Water, 159 Velázquez, Cándido, 135 Wharton School, 173, 176, 178 Venezuela, 1, 72, 80, 135, 154, Windstar, 122 183, 188 Wingara Wine Group, 65 Veolia, 158 Wipro, 9, 13, 127, 190 Verizon, 134, 136 Wired, 78 Vernon, 27, 31 Wonder, 59 vertical expansion, 29 World Bank, 127 vertical integration, 102, 195 World Investment Report, 19, 23 Vía Digital, 141 World War II, 174 Viajes por Carretera SA, 169 WorldCom, 138 Vietnam, 79 Wrozamet, 96 Villalonga, Juan, 138, 140 Viscofán, 13, 14, 54, 55, 66, 67, 68, 69, 70, Yamita, 86 71, 74, 194, 197, 200, 203 YPF, 7, 17, 20, 21, 130 Viscofán do Brasil, 68 Yvon Mau, 65 Viskase, 66, 67, 68, 69 Visteon Corp., 125 Zanini, 13, 15, 101, 102, 108, 109, 110, 116, Vitens, 158 123, 124, 126, 195, 197, 200 Vitoria, 93 Zanussi, 96 Vivo, 139 Zara, 13, 14, 76, 78, 80, 90 Vodafone, 133, 134 Zavod Avtocomponent, 105 Volkswagen-SEAT, 100 Zed, 182 Vueling, 182 Zhejiang, 90 Zorba, 78 Wal-Mart, 60, 76, 84 Zurich, 170