1. Introduction
The globalization of the economy, internationalization of businesses and emergence of new markets are all key themes in contemporary business. Whereas international business may once have been the province of organisations with sufficient scale and reach, these types of companies – typically multi-national corporations - no longer have a monopoly on this kind of business. Increasing numbers of firms, of varying scale, are confronted with compelling reasons for expanding their activities across multiple national boundaries. In some cases, such motivation includes the knowledge that success in international markets is a pre-requisite for survival; if competitor organisations succeed in international markets, they may achieve the scale and liquidity which affords them sustainable competitive advantage. However, scrutiny of the empirical experience of international expansion suggests that the apparent potential is by no means straightforward to achieve in practice. This raises questions about whether or not it is realistic to envisage a ‘best practice’ in terms of international expansion strategy. Can the latter be conceived of as a specific and transferable management skill, or is it instead reliant upon expertise in a particular sector of business, a market, or a national culture? After all, if proven strategists are found wanting, where can the organisation go in terms of its future practice?
Large, successful and sophisticated businesses have often found that international ventures do not fulfill their promise. Moreover, these failures do not feature in only one sector of the economy; retailers, manufacturers, transport and energy companies have all found that expansion in contemporary markets is easier to plan than to achieve. The relevant strategies were often developed by otherwise successful managers and executives, appointed because of proven