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For business to be successful on a global level, the need to internationalize and exploit emerging market opportunities has never been more stark thanks to stagnated demand in many home economies. The process of internationalization raises a number of questions, such as: Can firms use their experiential knowledge and learning from one market to the next, thereby shortening the internationalization process? Can firms pursue internationalization on several fronts at the same time? How can firms handle cultural and institutional distances between home and host markets? This textbook provides students with all of the core research that has already been completed in these important areas, supplemented with critical commentaries, materials on the future of research and a range of integrative case studies. Each part starts with a presentation of the issues and the controversies in that particular area followed by a synthesis of the research which provides normative conclusions and avenues of future research. To encourage further debate and learning, each part will end with at least one up-to-date case study. Compiled by two of the world's leading scholars of international business, this comprehensive textbook provides advanced students of international business and strategy with a resource that will serve their needs well.