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Successful Strategies Followed by Multinational Enterprises to Expand Into Africa

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Successful Strategies Followed by Multinational Enterprises to Expand Into Africa Successful strategies followed by multinational enterprises to expand into Africa Z Coetzee orcid.org/0000-0003-1022-297X Dissertation submitted in fulfilment of the requirements for the degree Master of Commerce in International Trade at the North-West University Supervisor: Prof H Bezuidenhout Graduation: May 2019 Student number: 24328804 PREFACE AND ACKNOWLEDGEMENTS This dissertation is submitted in fulfilment of the requirements for the degree Master of Commerce in International Trade at the North-West University Potchefstroom Campus. It has been a great opportunity with multiple learning curves. The research described herein was led under the supervision of Professor Henri Bezuidenhout from the Faculty of Economics and Management Sciences between 2017 and 2018. I acknowledge with immense gratitude the support and assistance from several individuals whom contributed towards the completion of the study. First of all, I would like to thank my study supervisor for his continuous support, knowledge and insights throughout this process. I also want to thank him for his patience, encouragement and mentorship. Secondly, I would like to give a special thanks to my fiancé, family and close friends for their continuous support, interest, encouragement throughout my studies. Mom, Dad, Twané, Tiaan and Nadia; this dissertation is a result of your love and support. I thank you. Furthermore, I would like to thank Ms Cecile van Zyl for the language editing of this dissertation and for Ms Alida Schutte for all her support and motivation. Finally, thank you God for giving me this opportunity and leading me into this chapter of my life. Ms Z Coetzee Potchefstroom 2018 i ABSTRACT Africa is known as the last growth frontier, but it is also known as the continent with the most challenging external factors. Multiple entities have invested and exported into Africa, some have succeeded where others had to withdraw out of the countries. This dissertation focuses on three exceptional MNEs, specifically in the retail industry, that have succeeded despite the challenges they had to face. These three companies are Walmart (an American company), Carrefour (a European company) and Shoprite (a South African company). A mixed-method approached was used to determine the challenges and the lessons the MNEs had to face and how they have managed to overcome these challenges. It involved an in-depth case study of each of the three MNEs. Furthermore, interviews were conducted with company officials chosen based on their knowledge and expertise in the African markets. The findings from the research shows that it is possible to expand into Africa following different strategies. Massmart only takes measured approaches into Africa, and only expand into new countries is based on the market potential and the ability to succeed. Carrefour’s main strategy is to acquire other companies to move into Africa. Shoprite on the other hand claims that there is no written strategy that was followed when they expanded into Africa. It is also evidential that government regulations (ownership of land, unnecessary regulations, etc.) pose as a rather large threat for companies wanting to invest in Africa. This research contributes to the knowledge base concerning the African markets and how to successfully expand into Africa by following different strategies. Keywords: Africa, Foreign direct investment, retail sector, investment, exports, multinational enterprises, business strategies ii OPSOMMING Afrika staan bekend as die laaste groeipunt, maar dit staan ook bekend as die kontinent met die meeste uitdagende eksterne faktore. Multinasionale maatskappye het in Afrika geïnvesteer en na uitgevoer, sommige het daarin geslaag waar ander uit die lande moes onttrek. Hierdie proefskrif fokus op drie uitsonderlike multinasionale maatskappye spesifiek in die kleinhandelbedryf, wat daarin geslaag het ten spyte van die uitdagings wat hulle moes oorwin. Hierdie drie maatskappye sluit in Walmart ('n Amerikaanse maatskappy), Carrefour ('n Europese maatskappy) en Shoprite ('n Suid-Afrikaanse maatskappy). ’n Gemengde metode is aangewend om die uitdagings te bepaal en die lesse wat deur die multinasionale maatskappye geleer was te bepaal en hoe hulle die uitdagings oorkom het. Dit het 'n diepgaande gevallestudie van elk van die drie multinasionale maatskappye behels. Voorts is onderhoude gevoer met maatskappy-amptenare wat gekies is gegrond op hul kennis en kundigheid gebaseer op die Afrika-markte. Die bevindings van die navorsing toon dat dit moontlik is om na Afrika te brei deur verskillende strategieë. Massmart neem slegs gematigde benaderings na Afrika, en brei slegs uit na nuwe lande gebaseer op die mark potensiaal en die vermoë om te slaag. Carrefour se hoof strategie is om ander maatskappye te koop en deur hulle na Afrika te beweeg. Shoprite aan die ander kant beweer dat daar nie 'n geskrewe strategie is wat gevolg was toe hulle uitgebrei het na Afrika nie. Dit is ook bewysbaar dat regeringsregulasies (eienaarskap van grond, onnodige regulasies, ens.) 'n taamlike groot bedreiging vir maatskappye is wat in Afrika wil belê. Hierdie navorsing dra by tot die kennisbasis rakende die Afrika-markte en hoe om suksesvol uit te brei na Afrika deur verskillende strategieë te volg. Sleutelwoorde: Afrika, buitelandse direkte belegging, kleinhandel, belegging, uitvoere, multinasionale ondernemings, besigheidstrategieë. iii TABLE OF CONTENTS PREFACE AND ACKNOWLEDGEMENTS ................................................................................ I ABSTRACT .............................................................................................................................. II OPSOMMING .......................................................................................................................... III TABLE OF CONTENTS ........................................................................................................... IV CHAPTER 1: INTRODUCTION ................................................................................................. 1 1.1 Introduction ...................................................................................................... 1 1.2 Background to study ........................................................................................ 1 1.3 Problem statement and motivation ................................................................. 4 1.4 Research aim and objectives ........................................................................... 5 1.4.1 Research aim ..................................................................................................... 5 1.4.2 Research objectives ........................................................................................... 5 1.4.2.1 General objective ................................................................................................ 5 1.4.2.2 Specific objectives .............................................................................................. 6 1.5 Research methodology .................................................................................... 6 1.5.1 Phase 1: Literature study .................................................................................... 6 1.5.1.1 The role of FDI and MNEs .................................................................................. 6 1.5.1.2 MNEs’ effect on exports and on global trade ...................................................... 9 1.5.1.3 MNEs and their strategies .................................................................................. 9 1.5.2 Phase 2: Case studies ...................................................................................... 12 1.6 Outline of the study ........................................................................................ 14 CHAPTER 2: MULTINATIONAL ENTERPRISES LITERATURE........................................... 16 iv 2.1 Introduction .................................................................................................... 16 2.2 Multinational enterprises and foreign direct investment ............................. 19 2.2.1 Background ...................................................................................................... 19 2.2.2 MNE theories .................................................................................................... 20 2.2.2.1 Advantage-based theories for the firm .............................................................. 21 2.2.2.2 Advantage-based theories for the host country ................................................. 23 2.2.2.3 Advantage-based theories for the firm and host country ................................... 24 2.2.3 Classification and structure of FDI .................................................................... 26 2.2.3.1 FDI flows .......................................................................................................... 27 2.2.3.2 MNEs and their motives .................................................................................... 28 2.2.3.3 Types of FDI ..................................................................................................... 33 2.2.3.4 Different entry modes MNEs use ...................................................................... 34 2.2.4 Africa’s challenges and advantages .................................................................. 35 2.3 The effect of Multinational enterprises on global trade ............................... 37 2.3.1 Types of international trade .............................................................................
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