Transforming economies pose significant challenges to multinational corporations’ (MNCs) business models (e.g., Chan et al., 2016; Sánchez & Ricart, 2010). This is because they are characterized by uncertain, highly volatile, and changing institutional frameworks (Peng, Wang, & Jiang, 2008). For instance, China is distinguished by weaker regulatory regimes and industry standards (Tan, 2009; Tsai & Child, 1997). So, whilst business models contribute to rapid internationalization (Dunford, Palmer, & Benveniste, 2010) and local competition in transforming economies (Tallman, Luo, & Buckley, 2018), entering those economies incurs institutional and market challenges. These fundamentally threaten MNCs’ business model viability (Birkinshaw, Zimmermann, & Raisch, 2016b).
Demir, R. & Angwin, D. (2021). Multidexterity: Combining competing business models in transforming economies. Management and Organization Review, 1-32. doi:10.1017/mor.2020.56