International family conglomerates (FCs) from emerging economies: operations across generations.

Abstract

According to Cavusgil and Knight (2015), one of the major traits of the emerging markets is the dominance of the family conglomerates (FCs). Family business conglomerates (FCs) account for over 70 percent of the business within emerging economies, including the BRIC's (Brazil, Russia, India, and China). These firms called differently, i.e. “Chaebols” in South Korea; “Qiye Jituan" in China “Business Houses” in India; "Grupos Económicos" in Latin America and “Holding Companies” in Turkey. FCs like: “Samsung” from Korea, “Genting Berhad” from Malaysia “Tata” from India, “Koc Group” from Turkey, “Siam Group” from Thailand, “Bimantara Citra Group” from Indonesia-are not only dominating the domestic markets but also increasingly becoming dominant players in international markets. From, small family businesses in their early generations, how these companies changed their styles and strategies and internationalized as they surpass generations after generations is an important lesson to be learned.