What's the Definition of Emerging Giant or Emerging Multinational?

From our experience, an Emerging Giant or Emerging Multinational is a Group of Businesses which although it may be partially publicly listed on the stock market it is still privately controlled by a number of private individuals/shareholders/owners and private equity. Such a business is also distinguished by being:

1) diversified into a number of sectors,
2) large relative to other businesses in their local economy, contributing to 1% or more of the GNP of its economy
3) has originated or is located an emerging country,
4) has reached a business generation beyond the founding generation i.e. 2nd generation or beyond and is
5) on the threshold of globalising its operations

What it takes to turn privately controlled group of companies into an Emerging Giant:
The economies of scale, the critical mass, the power that such Emerging Giants exert over their local economy can be the starting points towards internationalization. However, for this to happen a degree of transformation needs to take place in the way these large privately controlled businesses are run.

Some of these Groups have reached an advanced stage of growth and are emerging into the international arena. The diversified nature of such firms, their privately controlled business nature, the fact that their ownership may have reached 2nd, 3rd, 4th or more generations since their foundation, the contribution that such groups make to their fast growing local economy make this a very special type of organisation with very special needs

The pressures facing privately controlled groups are intense and multifaceted. Capital markets, private equity, boards of directors, and owners all demand that leaders formulate powerful corporate strategies. As competition within product markets intensifies, diversified groups are discovering that success depends on the combined assets, skills, and capabilities of the firm as a whole.