Business in Latin America (2^nd Ed.) Strategic Opportunities and Risks

Business in Latin America provides readers with a comprehensive overview of the business environment of this dynamic and challenging region. The book begins with an overview of the most important macroenvironments shaping the region?s opportunities and risks, while the second part focuses on the business strategies that respond to those opportunities and risks. Capturing the dynamism of this region, this new edition provides a thorough and nuanced understanding of the commonalities and differences within the multifaceted business environments of Latin America.

The second edition has been thoroughly revised and updated to include:

• The sources of economic, political, and natural risks, including the impact of COVID-19
• The endemic role of corruption in institutions, the economy, and society
• The region?s cultural and social diversity and resilience
• The role of technology and digitalization on corporate and marketing strategies
• The challenges of managing local and regional supply chains

The book includes examples and cases from across the region on corporate strategies, marketing, entrepreneurship, leadership, human resource management, and social and environmental sustainability. An ideal resource for anyone considering a business venture in the region, the book will especially appeal to practitioners and students who have a particular interest in Latin America.

Introduction

Part 1: The Business Environment in Latin America

1. The Economic Environment of Latin America

Introduction

Latin America’s Economic Performance from 2000 to Present

Latin America’s International Trade

Foreign Direct Investment in Latin America

Latin America’s Recovery Post-COVID: Toward a Socially Inclusive and Environmentally Responsible Growth Model

Summary

2. The Political and Legal Environment of Latin America

Introduction

A Snapshot of the Political Environment in Latin America

Democracy at Risk

Renewed Populism and Authoritarianism

The Institutional Environment

Corruption in Latin America

The Regulatory Environment of Latin America

Summary

3. The Competitive Environment of Latin America

Introduction

The Global Competitiveness of Latin America

Latin America’s Role in Global Supply Chains

The Structure of Competition in Latin America

Summary

4. Demographic Transitions and Population Dynamics in Latin America

Introduction

Latin America’s Demographic Transition

Migration Flows

Race and Ethnicity in Latin America

Education

Urbanization

Housing and Households

Health Status of Latin America

Summary

5. The Sociocultural Environment of Latin America

Introduction

Latin American Culture

Latin American Business Culture

National Business Cultures in Latin America

The Impact of Culture on Leadership

Women Leaders in Latin America

Managing Talent in in Latin America

Summary

6. Business Risks and Uncertainty in Latin America

Introduction

A Framework to Understand Business Risk and Uncertainty

Economic Risks

Political Risks

Corruption

Crime and Violence

Societal Risks

Natural and Climate Change Risks

Summary: Many Risks, but Also Opportunities

Part 2: Business Strategies for Latin America

7. Marketing Strategies for Latin American Consumer Markets

Introduction

An Overview of the Latin American Consumer Market

Understanding Latin American Consumers’ Values

Segmenting the Latin American Consumer Market

Building a Relevant Brand in Latin America

Pricing Strategies for Latin American Consumer Markets

Communication Strategies for Latin American Consumer Markets

Omnichannel Strategies for Latin America

Summary

8. Company Strategies for Firms from Outside the Region

Introduction

MNC's Challenges and Competitive Advantages in Latin America

MNC Regional Strategy in Latin America

A Regional Strategy Formulation Framework

Regional Strategy Replication and Adaptation

A Case of a Global MNC's Regional Strategy

Summary

9. Strategic Approaches of Multilatinas and Global Latinas

Introduction

The Emergence of Multilatinas and Global Latinas

The Internationalization of Latin American Firms

Multilatinas and Global Latinas: Who Are They?

Strategic Approaches of Multilatinas and Global Latinas

Multilatinas and Global Latinas: Into the Future

Summary

10. The Entrepreneurial Environment of Latin America

Introduction

Innovation in Latin America

The State of Entrepreneurship in Latin America

The Entrepreneurial Ecosystem in Latin America

Hotbeds of Entrepreneurship

Small- and Medium-Size Businesses in Latin America

Summary

11. Global and Regional Value Chains in Latin America

Introduction

Global Value Chains

Latin America’s Participation in Global Value Chains

Regional Integration and Global Value Chains

Firm Perspective on Value Chain Configurations

Summary

12. Strategic Opportunities and Risks in Latin America: A Summary

Introduction

The Business Environment in Latin America

Business Strategies for Latin America

Strategic Opportunities and Risks in Latin America

Concluding Thoughts

Fernando Robles is an Emeritus Professor of International Business and International Relations at the School of Business of the George Washington University. A native of Peru, Robles received a bachelor’s degree in Civil Engineering at the National University of Engineering, Lima, Peru and a master’s degree from the Graduate School of Business Administration (ESAN) in Lima, Peru. He has an MBA degree from Georgia State University and a PhD in Business Administration from the Pennsylvania State University.

Nila M. Wiese is a Professor of International Business and Marketing in the School of Business and Leadership at the University of Puget Sound in Tacoma, Washington. A native of Honduras, she received a dual BS degree in Marketing and Management from Oklahoma State University, a master’s in International Management from Baylor University, and a PhD in Marketing from University of Oregon.