1.2 Introduction
The global market is gaining popularity and gaining importance as a market and a base for internationally active organizations and those that want to international. At the same time, there are organizations across the globe that supports the global economy because of their economical and technological importance. A look at the strategic management of international active firms reveal that investments being made in the world market are shaped by the current trends in internationalization of companies and the increased global competition.

In this research, the role of the global economy and especially emerging markets as a new and important business operation base for firms across the globe will be discussed. The analysis in the paper will focus on the reasons as to why companies across the globe are interested in emerging markets. Subsequently, the basic trends in research on the main motives for companies towards the global economy will be summarized with a particular interest in the MTN international while adding some more examples from other industries and continents.

This paper provides a new framework that is summarized basing on the drawings from the theories of internationalization (Lymbersky, 2008, Susman, 2007) with the aim of delivering a solid basis for further analysis and discussion about the various forms of international business strategies towards emerging markets. From the practical point of the research on strategic management, the theories of internationalization will be examined and applied to the research subject of companies across the globe in their business strategies. In theory, global companies can use various strategies to enter and venture into emerging markets that is indifferent countries; the export strategy, international strategy, joint ventures, franchising, turnkey projects and licensing among many other strategies. From this point, onwards, the paper will discuss the different strategies that are used by organizations to venture into emerging markets and the paper will consider the advantages and disadvantages of these strategies (Svetlicic, & Rojec, 2003, p. 104).

1.3 Background
Organizations are recognized in various ways especially in the internationalization process which has been of much attention to many scholars, academicians and business people in recent years. Companies have played a great role in the global economy in the recent years with many of them going international or at least having the idea of internationalizing their operations. Firms have expanded their operations to international markets and use their diversification in the international market as an important tool and competitive advantage to achieve the much anticipated growth.

The study topic brings the theories that are talked about and the models into action like the Uppsala international process model, network theory and the international entrepreneurship theory as well as some exciting and interesting phenomenon of business today. In the past, academics explained internationalization of firms using stage model that followed a step by step process with the organization beginning from international activity and ending up owning subsidiaries abroad. Such case is depicted by the Uppsala model that was proposed by De Wit, 2002 in 1977 (Masum, & Fernandez, 2008, p. 8). This model has been criticized from the beginning. The initial and increased criticism from scholars led to other authors like as Andersen (1993) and Johanson and Mattsson (1988) to come up with another theory that that is known as the network theory which explains the importance of relationships and networks with suppliers, customers, contractors and other competitors in helping a firm to internationalize. McDougall and Oviatt (2000) introduced a new theory later by explaining internationalization through entrepreneurship in international entrepreneurship theory (IET).

Technology has advanced in the modern world and barriers to trade have reduced enabling the global economy to become more integrated and it is this globalization that is rapid that is enabling many organizations to internationalize in a faster manner that is more effective. Due to advanced technology, some scholars are questioning the validity of the Uppsala model arguing that the model is no longer applicable in the modern world where internationalization of firms has taken a different approach especially in companies that have taken on international new ventures. Researchers have tried to explain the internationalization of firms in a new manner and have come up with new modern network theory and entrepreneurial theory (Schmukler, & Vesperoni, 2006, p. 190).

Researchers have been debating over existing theories in the past few decades and trying to develop new theories that explain the modern trend of why and how firms internationalize. The theories of internationalization explain different processes that take place when companies expand across national borders. The theories discussed are seen as complementary and not parallel. There is a range of internationalization that has been discussed in a number of studies with many failing to explain clearly the behavior of various organizations regarding internationalization although it does not mean that the studies are not useful.

Internationalization process cannot be approached without a strategy or action plan for achieving the given organizational goals. Without a proper plan or strategy, any organization that intends to go international is bound to fail. The formulation of a strategy involves making a decision on when to internationalize, how to internationalize, and which market to enter. There are several methods that can be used to enter a market like export, joint venture, franchise, etc (Masum, & Fernandez, 2008, p. 8).

The process of internationalization involves taking risks and uncertainties and therefore, a good strategy is required to overcome the risks and uncertainties. Success internationalization of organizations has to reduce the risks involved through a good choice of the entry strategy. The management team has to take some time preparing on what is to happen by gaining knowledge about the market, the culture, etc. these factors and knowledge of the market are key elements for effective internationalization. Other factors that are important include the network of the business that will help the company to solicit for resources for the process, previous experiences in internationalization, management skills and the role of the owner in addition to government agencies, the age and size of the organization and ability to entrepreneur. Hill (2007) explains the advantages and disadvantages of the entry modes that a company can use to internationalize. Each of the entry methods as will be explained later can apply to any of the organizations regardless of the size of the firm, resource endowment, age etc (Masum, & Fernandez, 2008, p. 8).

1.3.1 Study objectives
This study is not aimed at asserting the already written and existing literature on the internationalization of organizations nor does it intent to set a new way that is right but it investigates the extent to which internationalization has taken place, strategies taken, obstacles and benefits of internationalization to the organization. The dissertation will use the research methods that are used in libraries and other literary materials that are necessary for the research in addition to the records that are found in the archives of MTN international.

This study seeks to fulfill the following objectives:

• Find out the strategies that are used in internationalization of companies in emerging markets;
• Investigate the obstacles that an organization can realize in its effort to internationalize in an emerging market;
• Establish the relationship between internationalization in emerging markets and the performance of an organization.

1.3.2 Significance of the study
This study is important because it examines the internationalization of companies in emerging markets and the impact that internationalization process has on the performance of those companies. Many companies always start to venture into foreign markets without prior knowledge on the market and the climate in the new market. Also, many companies that fail on attempts to internationalize their companies do not know the right strategies to use neither do they know the exact benefits the company is to get after going international. This study will be important to all those companies that would like to international because the companies will be equipped with the necessary knowledge for the exercise.

1.3.3 Study justification
In addition to the above, this study is important to the company of MTN international because it will help the company reevaluate its strategies that it uses to capture other markets apart from what it currently has given the advanced technology in the world. The research will help the company to know the strategies that its competitors are using to penetrate the market and the dangers the competitors pose to its business operations, thus it can change. Lastly, the study will help the company to know the trends of internationalization in emerging markets and the ability to also venture into such markets.

1.3.4 Scope of the study
This study is centered around the investigation of materials in text on internationalization of companies, the strategies, trends and obstacles that the companies face in their trial to venture into international markets. More over, it will investigate the strategies, obstacles and benefits of internationalization in MTN international. The reference materials will comprise of books, journal articles and reports from the archives of MTN international.

1.3.5 Key issues to be considered
The vital issues that this dissertation will consider will be centered on internationalization of companies and they include issues like the strategies used in internationalization, the obstacles and the benefits of internationalization in MTN international and internationalization in emerging markets, the trends, factors driving internationalization of companies and the benefits of internationalization.

1.3.6 Research questions
This dissertation is about internationalization of companies and will answer the following questions:

1. Determine the reasons for internationalization of companies, strategies used, obstacles and benefits derived from internationalization.

2. Determine the link between internationalization of an organization and the performance of the company.

3. Establish the attitude of the management of MTN international towards internationalization.
1.3.7 Study hypothesis

This dissertation deals with internationalization in the company of MTN international and internationalization in emerging markets. The dissertation seeks to fulfill the hypothesis that there is a positive relationship between internationalization and the performance of an organization. Therefore, it is expected that any organization that undertakes in the internationalization process will benefit rather than suffering some consequences that are related to internationalization.
1.3.8 Limitations of the study

This research does not lack limitations just like other studies. The limitations of the research emanate from the challenges that the researcher faced while conducting the research. Some of the sources of the challenges were from collection of data. The following are some of the limitations of the study;

· The questionnaires that were used contained only ten questions that may not have exhausted the whole material concerning the research topic although a thorough screening was done.

· There may be some subjectivism from the research because the conclusions that were made in the research were made solely from the findings from the answers from the questionnaire.

· MTN international is just recovering from the global recession that has affected many countries that the company operates in. Therefore, it may be difficult to judge the exact benefits or obstacles of internationalization.

· This research will base its findings on the answers from questionnaires that were filled by management in MTN international and not any other multinational company. This may also be a source of subjectivism for the dissertation.
1.4 Targeted group

This study is relevant to both academicians and business groups and people who will make use of the implications and results that the dissertation will provide. All those people in academics will gain an understanding of the internationalization process and strategies in emerging markets while the business people and groups will gain an understanding of the strategies that were used by other organizations to internationalize in emerging markets, the obstacles they faced and the benefits that they gained after internationalization. In addition to that, they will gain an understanding of the theories of internationalization discussed in this research and their application in the internationalization process with a specific case of MTN international.
1.5 Structure of the thesis

This dissertation is divided into five chapters that are; the introduction, the literature review, methodology, data analysis and findings and recommendations and conclusion. These sections of the study are highlighted below;

Introduction: this part of the dissertation contains the introduction, the background description of the research topic, the research questions, objectives of the study, significance, and the limitation of the study.

Literature review: this chapter reviews the on the research topic of internationalization in emerging markets. The chapter will highlight the strategies that are used in internationalization, factors that influence internationalization, the obstacles, theories of internationalization (the Uppsala model, the network theory, and the entrepreneurship theory), internationalization in emerging markets and the benefits that organizations derive from internationalization. The chapter concludes by giving a conceptual framework of the study.

Methodology: this chapter will give an explanation of the objectives of the study, the approach taken by the research, the strategy and the data collection methods (questionnaire).

Data analysis and presentation: this part of the dissertation will give a detailed analysis of the findings of the study. The responses from the research questions will be analyzed in detail. The findings are very important in fulfilling the hypothesis of the study.

Recommendations and conclusion: this section of the study will give the findings and recommendations for further studies. The study will be briefly concluded with further research topics being given.
1.6 MTN international
1.6.1 Company overview

MTN international is a multinational telecommunication company that is based in Africa. The company was incorporated in South Africa in 1994 as M-cell and it bought 25% of MTN holdings. The company was converted into a public company in 1996 after it bought 60% of the M-Tel and it was then called MTN service provider. The company bought M-Tel and started extending its operations in Africa between 1997 and 1999.

The company operates in several countries in Africa with its headquarters in South Africa. MTN group ltd is a leader in communication service provisions and offers cellular access to network and business solutions. The company is listed in South Africa on the JSER under industrial telecommunication sector. The company was launched in 1994 as a multinational telecommunication group operating in 21 African countries and in the middles east. The company operates in the following countries in Africa; Botswana, Cameroon, Côte d’Ivoire, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Swaziland, Uganda, Zambia, Benin, Ghana, Guinea Bissau, Guinea Republic, Liberia and Sudan among many other countries in middle East.

Vision: the vision of MTN international is to be the best leader in telecommunication in emerging markets. The vision of the company is based on three pillars of diversification and consolidation, leveraging the footprint of the company and intellectual capacity of the company and evolution & convergence. The vision will ensure that the company maintains a competitive advantage in the market over its competitors (Company report, 2008, p. 1).

Objectives: there are certain objectives that are important to the company and must be met for the company to meet the dynamic high growth nature of the industry as well as enabling the company deliver high quality services to its clients. The objectives are based on the maximization of profits, minimization of costs and corporate social responsibility.
1.6.2 Company products

Being a telecommunication company, MTN International deals mainly in telecommunication products. The company provides a number of services that range from communication through calling and messaging, mobile banking services and TV services. The company specializes in innovation, marketing and corporate social responsibility. These products target a diverse market that is distributed throughout the countries that the company operates (Masum, & Fernandez, 2008, p. 8).
1.6.3 Motives of internationalization

The company decided to internationalize in Africa as one of the emerging markets because it had the motive of gaining more profits to add on what it used to get from the domestic market. This could be achieved by the ability of the company to gain access to a vast market in the markets that it internationalizes. Also, the company could reduce its cost of operations if it manufactures products in larges scale. The economies of large scale production end economies of scope would help the company realize its objective of cost minimization. Lastly, the company internationalized in order to exploit the opportunities that would emerge in the emerging markets. Through exploitation of such opportunities, it will realize more effective performance hence establishing its competitive advantage with ease.
1.6.4 Strategies

South Africa and Africa in general is an emerging market because of its economic performance. The market in Africa is competitive and that is why MTN international ventured into these markets. The company ventured in these markets in Africa using international strategy where the company started by purchasing shares in local companies. For example in 1994, the company which came as M-cell bought 25% of shares in MTN holdings in South Africa. In the following year, it became a public corporation after buying 60% of shares in T-cell. In a bid to expand and internationalize in other African countries, the company used to acquire licenses from the local licensing company or board and then beginning to operate. The strategy that is mostly depicted by the company’s expansion activities especially in the beginning is the internationalization and joint ventures through mergers and acquisitions because the company merged with T-cell and M-cell.

The use of the above strategies helped the company to establish its competitive advantage in operations in the subsequent markets. The company continued in acquisition of the various companies in South Africa enabling it to be listed in Johannesburg securities Exchange (JSE). Despite the use of these strategies, there are other strategies that were and are still at the company’s disposal and it can employ any of these strategies in its future ventures. They are discussed below:

Export strategy: this is the strategy where the company can produce products and export products to its targeted emerging market. If at any on time the company begins the manufacture of mobile phones, it can start exporting them to the company’s targeted market in Africa. This strategy is good because it will enable the company to sell its products from a centralized point like Johannesburg in South Africa. However, this strategy may be expensive for the company if there are other locations in its markets where it can manufacture its products cheaply (Masum, & Fernandez, 2008, p. 8).

Franchising: this strategy can be used by the company if it needs to establish a long term relationship in a market. MTN international can decide to offer local companies license over its specific technology and start reaping from the profits gained by the local company in the market. In exchange for the license, the company can receive loyalty fee. This strategy is good for the company if it wants to establish long term investment in the market over a short period of time, otherwise, the company may realize low control of quality of its products and services.

Turnkey projects: this strategy can be employed by the company if it can acquire tenders in its market to construct network booster and develop some devices that are related to telecommunication. By acquiring tenders, the company will get an opportunity to understand the market and get the ability to make a decision on the best strategy to enter the market. However, this method is not the best for the telecommunication industry and is good for construction companies.

Joint ventures: this is one of the strategies that have been used by MTN international in penetrating markets. Through this strategy, the company managed to establish merge and work jointly with T-cell and M-cell after purchasing 25% and 20% share respectively in each company. The use of joint ventures enabled the company to gain a deeper understanding of the African market therefore allowing it to make further advancement into other African markets. The company was in a position to network and establish relationship with other operators, consumers, suppliers and contractors in the African market that enabled the company to grow by expanding its market operations.

Joint ventures that were used by the company are beneficial to the company because they enable the company to establish networks and gain an understanding of the market thus making further investment in the market. However, this method is did not allow MTN international to have total control of the company due to co-ownership.

Licensing: this is the method where a firm can lease its technology or asset to another company to use it in business but over a short period of time. The company that leases out its technology or asset receives a loyalty fee from the license. This type of strategy is common with pharmaceutical companies that usually lease specific technology to other companies in other countries. Though this technology is good, it could not be applied by MTN international since the company did not have any specific expertise or technology that it could lease it out to other organizations in other countries (Aykin, N 2005, p. 256).

These strategies that were used by MTN international are compatible with the theories of internationalization. Through the use of joint ventures, the company was able to network with suppliers, consumers, contractors and other players in the market. This networking and interaction enabled the company to have a deeper understanding of the market and thus invest more in the market which in line with the networking theory that is discussed later (Aykin, N 2005, p. 256).
1.6.5 Obstacles to internationalization

The entry to some of the countries was not easy. The diverse cultural background of the African societies made it quite difficult for the company to effectively internationalize. It was not easy to access enough information and knowledge about the markets. Also, internationalization was faced with difficulties of resources. It could not be possible to internationalize in all potential markets at once due to inadequate resources and uncertainty about the future of business in the market. More over, the inadequate knowledge about the markets coupled with wrong strategy led to the long internationalization processes in some markets.
1.7 Definitions

Emerging markets: these are markets in nations that are experiencing rapid economic growth and industrialization. Emerging markets in the world are several and they include markets like China, Brazil and India which are the largest emerging markets. These markets contain a lot of opportunities for firms (Mitgwe, 2006, p. 91).

Internationalization: according to Welch and Luostarinen (1988, p. 25), internationalization is the process in which companies increase their involvement in international operations. Other scholars define it as the process by which organizations become aware of the direct and indirect influence of international business transactions on the organization’s future and the ability of the company to establish and be in a position to conduct transactions with other countries across the world (Masum, & Fernandez, 2008, p. 11).

Strategy: this is the determination of the long term goals and objectives of an organization and adopting the right course of action and the allocation of the necessary resources to ensure that the goals and objectives of the organization are achieved. Strategy employed by an organization in includes making of decisions, actions or plans that will enable the firm achieve its goals.

International entrepreneurship: According to McDougall and Oviatt (2000, p. 903), entrepreneurship is the combination of innovation, proactive and behavior of risk taking that crosses countries and creates value in an organization. It has also been defined as the discovery, the enactment, evaluation and the ability to exploit opportunities that exists across borders of nations in order to create goods and services for the future (McDougall and Oviatt, 2000, p. 903).
1.8 Chapter summary

This chapter has highlighted the overview of the dissertation with an emphasis on the various sections of the study. The chapter has introduced the dissertation by giving background information on the internationalization. Also included in the chapter are the objectives and the research questions in addition to the hypothesis of the study. The limitation of the study has been explained and the people that the study will benefit have been given. The chapter ends by defining several terms that are of importance to the study.

CHAPTER TWO: LITERATURE REVIEW
2.1 Chapter overview

This chapter reviews the various literatures that have been written concerning internationalization in emerging markets. The chapter explains the various theories of internationalization, motives for internationalization in emerging markets, the strategies that are used, the process and the benefits that firms gain from internationalization. There are several obstacles that are explained in the chapter that organizations face as they try to internationalize. The chapter ends with the conceptual framework of the literature review on the research topic.
2.2 Concept of internationalization

Internationalization of organization is a concept that is increasing in the modern world with many organizations in developed and developing world embracing the opportunity to go international. Exports and imports have increased in importance to the economy and it is important for companies to invest. There has been increase networking of suppliers, consumers, technology developers and researchers creating a higher degree of interdependence. Costs, competitive advantages, politics and changing markets are the reasons behind these networks. According to Masum, & Fernandez (2008, p. 11), internationalization is the process of availing good and services to markets that are outside the country of origin or the country where the good are manufactured or the location of the company. This process is possible through the use of technology and effective communication which are advanced today and allow the labor and technology to be flexible and stretch across countries (Bell, Crick, 2004, p. 35). Companies go international in the bid to compete for resources that are limited and depend on the global economy to provide them with the necessary market for their products. Internationalizing organizations must be in a position to deal with the rules and regulations that have been put in place in foreign countries that they operate in addition to showing the ability to deal with the fluctuation of the currency and the conflicting policies (Bell, Crick, 2004, p. 43).

While going international, organizations need to consider their own internal structure. The role of governments of other countries that the organization needs to operate in and the mode of operation in the new foreign market also needs to be considered before internationalization undertaking. Political situations of the country and the labor availability should also be considered (Ubreziova, Bujnakova, & Majorova, 2009, p. 398).

Successful internationalization of organizations requires that an organization does several things that include and are not limited to; making a thorough analysis of the location, acquisition of the site for internationalization where possible, building of the brand and position of the firm in the local market, Managing the alliances or partnerships, having a clear and consistent focus on investment, and having a continuous management team to drive international growth (Javashree, & Al-Marwai, 2010, p. 308).
2.2.1 Theories of internationalization

There have been ver