Abstract
Since 1970s, the growth of EMNCs (Multinational corporations from emerging Markets) has been remarkable. Today, the presence in the world market cannot be ignored. What competitive advantages and capabilities do they leverage as they internationalized? How are those advantages and abilities shape by home country and industry contexts?
I wonder if Dunning's Investment Development Path theory based on OLI paradigm explains the pattern of internationalization of EMNEs effectively. EMNCs may not have traditional competitive advantages and capabilities of incumbents, but they do have new types of competitive advantages and capabilities that allow them to expand abroad.
In this paper, I consider that how Natura, a Brazilian cosmetics multinational, uses local resources combines with its unique philosophy that is universal appeal to seek opportunity in the global market. Although the option is neither easiest nor cheapest of one, utilizing local resources such as female salespeople, Brazil rainforest and traditional communities to Natura are creating new values to pursue opportunity in the global market.
