How Do Born-Globals Become Born-Winners?

The world economy is in a dynamic process of evolution-from chaos to order,while breaking the old order to new chaos.In such a complex and changeable global environment,the internationalization of enterprises is usually caught in the dilemma of uncertain direction and discontinuous path.How these enterprises adapt to the background in a new era and survive or compete in the turbulent wave of the world economy have become strategic questions which must be considered in the development of international enterprises.Previous studies have focused on large MNEs(multinational enterprises)evolved into internationalization gradually in a traditional way,while neglecting BGs(born global firms)in the international community in recent years.These enterprises have quickly positioned their global strategic objectives since their establishment,and have rapidly achieved internationalization through leapfrog development.However,born-globals are not necessarily born-winners,and many born global phenomena are just a flash in the pan.If born global firms intend to achieve sustainable development,they must grasp strategic trends and possess strategic thinking.In particular,with the rapid advance of China's economy and the continuous expansion of China's opening-up,a large number of China's born global firms have emerged one after another.Thus,studying the development strategy of born global firms has become the focus of the born-global theory.This thesis used intersectional analysis of the leading-edge theoretical achievements in the field of international business and strategic management,then adopted the methods of literature research and multi-case study to make an exploratory study on the development strategy of China's born global firms.Firstly,drawing on the relevant theories and reviewing the literature on born-globals and strategic management,we chose co-evolution strategy as the research perspective and integrated a dynamic and systematic analysis framework to analyze the development strategy of born global firms subsequently.Then,we adopted various analytical tools,such as the roadmap of enterprise internationalization growth and the strategic canvas of co-evolution,as well as the cross-case analysis method to analyze three selected case firms.According to these processes,we studied the strategic decomposition and specific strategy evolution path of China's born global firms and reveal the secret how do born-globals become born-winners through strategic innovation.The result involving:(1)The synergy of organization strategy,product strategy,customer strategy,and market strategy drives the emergence and development of born global firms.(2)The four strategic elements will adjust with the evolution of the life cycle of born global firms,and play different roles in different strategy stages of enterprise development.(3)The development strategy of born global firms follows a certain evolutionary path,which can help them to achieve sustainable development performance.In addition,based on the study conclusions,particularly the specific evolution path of the development strategy of born global firms,this paper also offered the corresponding strategic enlightenment from two levels of enterprises and countries which could guide more Chinese firms not only to be born globals,but also to become real born-winners.The innovations of this thesis mainly lie in that:(1)It is the first time to study the development strategy of China's born global firms from the perspective of co-evolution strategy.(2)A more comprehensive,systematic and dynamic analytical framework and theoretical model of the development strategy of born global firms is integrated based on Chinese scenarios and relevant theories.(3)A variety of analytical tools,such as the roadmap of enterprise internationalization growth and the co-evolution strategy canvas are deployed to analyze the evolution process of development strategy of BGs in their whole lifecycle.