2018 年 7 巻 2 号 p. 123-129
It was often witnessed that institutional voids and lack of public infrastructure prevented many emerging entrepreneurs to start their ventures in emerging economies where the transition to the market economy is under way in order to increase the economic growth. There are increasing number of scholars has recently made research about them. (Yamakawa Peng & Deeds 2008) At the same time, we can see growing number of research papers on the entry strategy of the developed multinational enterprises (“DMNE) in the fast growing emerging market. (Canabal & White 2008) But these two schools of researches activities are independently conducted, and joint activities of emerging entrepreneur and DMNE in the creation of new businesses has rarely been focused except in the regions pf China and Eastern Europe so far. (Hoskisson Wright & Filatotchev 2013, Yang Zheng & Zhao 2014) Objective of this research is to shed a light on the interplay to solve a common challenge between motivated emerging entrepreneurial actors under the institutional voids and DMNE who sought for entry in the emerging market. Emerging entrepreneurial actor in Thailand could transform the institutional voids to an opportunity space (Mair & Marti, 2006) and was successful in creating the first frozen packaged food business in 1988 without a traditional foreign direct investment through a hybrid approach utilizing an alliance with DMNE. At the same time, DMNE were able to secure an alternative source of products other than China through alliance to transfer their technological advantage to emerging entrepreneur. This research was conducted through a single case study with semi-structured interview with the entrepreneur and secondary data to analyze the originality of the business model. This report would contribute to the scholars and practitioners with a new view-point for interplay between entrepreneurship and DMNE and also its scalability and flexibility in the other emerging economies.