Adaptation of Business Models in Emerging Markets: The Case of Latin America

Abstract

The aim of this thesis was to understand how the context of emerging markets influences business model configuration using on-line strategies. The research question posed at the beginning was the following: Which are the general principles and key success factors associated to on-line strategies in emerging markets?. Much has been written on emerging markets and on how their context conditions differ significantly from those of developed world markets and how these conditions affect a company s strategies and performance. But little is known yet about which precise factors are proving successful for local business models competing in these markets using the advantages provided by the Internet, and how they have adapted known and proven business models in developed markets to make them more competitive in these particular conditions present in emerging markets such as Latin. This dissertation explores how firms from emerging markets adapt their business models to operate successfully using web-based strategies. In doing so, we developed in depth research on the characteristics of the business models of six Latin American companies, in an attempt to understand the strategies and factors that have driven success as a result of the processes of adaptation of their business models in this geographic context. This analysis led to the identification of common themes across the six cases. The main implications on value creation from these kinds of business models are discussed and success factors specifics are suggested. Finally, we propose a framework of strategic theories that best illuminate these realities in emerging economies. Considering that the aim of this study is to address a virtually unexplored research area, multiple case study methodology has been deemed the most appropriate approach for this purpose.