ABSTRACT
This chapter illustrates some of the disastrous experiences that multinational corporations went through for more than a decade, because these signs from emerging markets fell on deaf ears. In October 1993, Sophia Loren helped promote the opening of a mega project in Chile called the Alto Las Condes Mall, Santiago's most luxurious and exclusive mall at that time. Latin America was going through a phenomenal transformation, from a region mostly known for its political and economic upheavals to one of booming economies. A majority of democratically elected governments were enthusiastically embracing open-market strategies. The chapter discusses some notorious examples of the difficulties companies face when they are ill-prepared to anticipate and adapt to new market conditions as well as a new and demanding set of customers. It describes the significant changes taking place around the world that surprised and changed the name of the game in the international field.
