Rabiul Islam

Emerging markets are those developing countries that are not fully developed but moving away from the traditional economies to be more industrialized by adopting a free and open market or mixed economy. Fast economic growth, growing middle-class, huge population growth and working age population, as well as consumption growth are attracted the multinationals to invest in emerging markets. Despite of its opportunities, these emerging markets also bring out the risks that must be faced and overcome by multinationals through its strategies and approaches. Qualitative research has been used for this study. This paper will try to evaluate the emerging markets from its governance, rule of law, politics, market and corporate sectors, as well as its institutions and regulations, while taking BRICS countries as example to represent the emerging markets. The findings shows that emerging markets are attractive yet still has issues that mostly on its governance, political stability, rule of law, corruption, and institutional voids. Thus, multinational firms could undertake this challenges by implementing right strategies and approaches based on each markets domestic features, using the five context to recognize the institutional voids, and refer to the Analyze-Benchmarck-Calibrate of developing a globalization strategy.