Yildiz Holding: Global Expansion Strategy
(7 pages of text)
In 2014, Yildiz Holding, a Turkish conglomerate, had just acquired the UK-based biscuit maker United Biscuits, the premium chocolate maker Godiva Chocolatier Inc., and the US-based company DeMet’s Candy Company. As Yildiz Holding moved forward in pursuit of its goal of dominating the global confectionery market for biscuits and snacks, senior management members were questioning whether the company's business model (which had brought it success for many years) would continue to be viable, and particularly, what the implications of its global expansion were for its diversified business model.
This case is suitable for a strategy or international business course at the undergraduate or graduate level. It serves as an example of an emerging market company expanding into developed economies and the challenges associated with this. After completion of this case, students will be able to
- analyze why strategy in an emerging market such as Turkey differs from developed markets, particularly as a result of the weak institutional environment;
- understand the role played by business groups in emerging market countries with institutional voids, and how improvements in institutions can diminish the need for business group functions; and
- create analytical frameworks for determining the next steps for the company’s internationalization strategy, particularly in terms of future acquisitions or divestitures.
Turkey, Large, 2014
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