HOW DO LATINAMERICAN FIRMS COMPETE IN GLOBALIZED MARKETS? THE STRATEGY OF THE ANTIOQUIA BUSINESS GROUP TO FACE THE INTERNATIONAL COMPETENCE: THE CASE OF INVERSIONES NACIONAL DE CHOCOLATES (Article published in Spanish)

Abstract

This paper presents the results of a research study conducted in Colombia. It was part of the Latin American project titled Can Latin American firms compete?, which was sponsored by the Garvin School of International Management at Thunderbird University. The purpose of the study was to determine how some Latin American companies have successfully expanded into international markets and to identify business models and common characteristics of these companies and their affiliates in other regions worldwide. The foods division of the Colombian " Grupo Empresarial Antioqueño" (Antioquia Business Group), which consists of a conglomerate of companies owned by Inversiones Nacional de Chocolates, was selected to be analyzed in this study because it is probably the group that has achieved the greatest accomplishments in the globalization process. The study identifies the outstanding characteristics that have enabled the group to develop the core competences that provided the foundations for establishing successful strategies to: i) penetrate different international markets; ii) learn from the different cultures associated with those markets; and iii) develop processes to manage risks, add value to the products, and face the increasing competition from other multinationals.