This thesis focuses on examining key competitive strategies for multinational corporations(MNCs) operating in emerging markets, and what factors contribute to the success or failureof these strategies. Also, this research will study how MNCs can adapt competitive strategiesto fit emerging market characteristics and local market conditions. It will also examine thefactors of variation for competitive strategies across different emerging markets.The empirical findings in this study were acquired using a qualitative single case study of anMNC operating in international markets. The findings were gathered through semi-structuredinterviews to then be analysed and discussed with the literature review to highlight differencesand similarities.The conclusion of this thesis displays competitive strategies used by MNCs in emergingmarkets and the factors that impact success or failure. The single case study of NIBEgenerated examples of competitive strategies in emerging markets, more specifically howacquisition and subsidiaries were used to adapt to local market characteristics. Factorsaffecting the success or failure of MNCs are institutions, networks, local regulations andnorms, together with local market conditions.