How do emerging market firms become "Champions" in global markets? Evidence from Turkey

In order to shed some light to the key pillars of global competitiveness for emerging economies, this paper analyzes internationally successful small and medium sized firms that are the so-called “hidden champions”. All firms face various difficulties during internationalization; developing country firms, however, encounter disadvantages specific to their contexts. Acknowledging these challenges and observing successful practices might help to understand emerging market firms’ internationalization. Based on the empirical observation of 10 Turkish hidden champions, we highlight innovative strategies of these companies, which we believe might serve as role models for others in their efforts to overcome the difficulties of internationalization, specifically for those companies from emerging market contexts. We conclude with some managerial and policy implications.