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RESEARCH PRODUCT

Strategies in transition : the internationalization of Finnish forest industry companies

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The aim of the dissertation is to advance our knowledge and understanding related to the internationalization processes of the Finnish forest industry companies by answering the following questions in which, it is considered, the internationalization of business activities plays an important role: how has it been possible for a group of once small companies operating from a small and remote country to rise into such prominent positions within the forest industry internationally? And: by which means have the remaining companies come to be what they are today? The thesis consists of three parts: 1) an introductory essay, laying down the frame of reference of the study, 2) three articles, each of which approaches the phenomenon studied from different viewpoint, and 3) discussion and reflection synthesizing the contributions of the three articles included in the dissertation. The main arguments of the study are interrelated. It is argued that 1) due to internationalization processes' multifaceted and complex nature it is necessary to approach the subject from multiple perspectives, and to utilize multiple levels of analysis to enable holistic representation and analysis of the phenomenon, and 2) due to its complex processual nature, internationalization is best approached by adopting a longitudinal research strategy to its analysis. Thus, the starting point of the study is discontent with much of the recent IB research with its ever-narrowing focus and static approaches. The results of the dissertation highlight the importance of the mid-1990s as a watershed in the orientation of the Finnish forest industry firms' international involvement strategy. Prior to the mid-1990s the process was characterized by small steps in order to accumulate experiential knowledge of international operations, later to be replaced by spectacular mergers and international acquisitions, resulting in the three remaining companies that have reached mature stage of internationalization with operations in dozens of countries. Millä keinoilla alkujaan pienet, syrjäisestä Suomesta ponnistaneet metsäteollisuusyhtiöt ovat kyenneet nousemaan nykyisiin asemiinsa maailmanlaajuisesti merkittävinä metsäteollisuustoimijoina? Pasi Sajasalo tarkastelee väitöskirjassaan tämän suomalaisittain tärkeän toimialan keskeisten yhtiöiden kehitystä viimeksi kuluneiden parin vuosikymmenen aikana ja tulee siihen johtopäätökseen, että yhtiöiden strategian muutoksella 90-luvun puolivälissä on ollut ratkaiseva merkitys. Suomalaisten metsäteollisuusyhtiöiden kansainvälistymisstrategia on muovautunut voimien ja vastavoimien puristuksessa monimutkaisen prosessin seurauksena. Kansainvälistymiskehityksen leimallinen piirre on ollut liiketoiminnan hallitsevien toimintatapojen murros toisaalta toimialan kilpailuympäristön muutosten, toisaalta yhtiöiden strategisten valintojen seurauksena.