Preface to the First Edition

International business emerged as an important academic discipline in the 1960s. The discovery of the transnational corporation led to a plethora of new issues in academic learning and research. The traditional TNC was a large gigantic global corporation which made its way across the globe in incremental steps of foreign commitment and risk—beginning with trade in its geographical proximity and then moving on to more advanced modes of foreign market entry.

Some of the issues in international business pertained to: Why did firms run the risks of internationalizing? What were the sources of competitive advantage for TNCs over their domestic rivals? Were there distinctive patterns in the way that firms internationalized, ...

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