Projects per year
Personal profile
Research profile
I am an Associate Professor of International Business and Strategy at Aalborg University Business School (AAUBS) in Denmark and a Visiting Scholar at the University of Cambridge in the UK. Additionally, I serve as the Director of the Sustainability Lab at AAUBS.
My research spans various areas within international management and strategy, with a particular emphasis on sustainable international strategic management, technology-driven value creation, and the impact of institutional factors on firm capabilities and sustainability-driven business models, such as the Circular Economy. My studies have explored how European multinational enterprises develop and co-develop strategies and capabilities to achieve synergy—both in terms of acceptance and efficiency—within national business systems. Notably, my research was the first of its kind to examine Bangladeshi institutions and firms (both national and multinational), elucidating how multinational subsidiaries are integrated into Bangladeshi business systems and the roles played by national institutions, civil society actors, and transnational communities in the processes of internationalization, legitimation, and sustainability.
I view firm strategy as a dynamic construct shaped by the interactions between firms and the institutional environments in which they operate. Firms do not function in isolation but are influenced by the rules, norms, values, and logic of institutional systems. Therefore, their missions, perspectives, goals, strategies, activities, and offerings are continually shaped by the evolving nature and performance of these institutional arrangements. Changes in national institutions often arise from external forces, such as the influence of transnational institutions (e.g., UN, EU, OECD) and collaborations between multinational enterprises, civil society, national institutional actors, and large local firms to establish new business norms, such as sustainability standards.
I consider strategy development to be a complex process where understanding the role of institutions and their influence on firm strategies is crucial. Rather than viewing institutions merely as macro-environmental constraints, I see them as providing both opportunities and constraints that shape strategies to fit specific contexts.
My research can be categorized into three main themes: 1) The strategies of multinational corporations regarding internationalization, capabilities, legitimation, and sustainable management in emerging markets; 2) Business modeling, including sustainability-driven business models and their impact on global value chains, climate change, and the transition to a Circular Economy; and 3) Technology adoption and digital strategies (such as Artificial Intelligence) for value creation and sustainable adaptation.
Despite the broad range of my research interests, the central focus remains on cross-border management and multinational strategies through an institutional and business systems perspective. I aim to understand the strategic choices, antecedents, and mechanisms of sustainable international strategic management.
In my consulting work, I have collaborated with numerous large multinational corporations, including Novo Nordisk, Arla, GlaxoSmithKline (GSK), Nestlé, Telenor (Grameenphone), Tesla, iRobot Roomba, H&M, Bestseller, Oticon, and Kube Data. I have also studied Bangladeshi multinational corporations such as Walton Electronics, DBL Apparel Company, Micro Fibre Apparel Group, GMS Apparel Group, ABA Apparel Group, Interstoff Apparel Limited, and Shasha Denims, among others.
Recently, I completed a project in 2022 on “Practical Tools for Sustainable Business Model Innovation for SMEs in Denmark and Sweden,” funded by the EU with a budget of 3 million DKK, where I served as the principal investigator and a member of the steering committee. In the same year, I also completed a project on “Artificial Intelligence, Value Creation, and Adaptation in the International Context,” led in collaboration with the Department of IT & Media Technology at AAU and funded by AAUBS.
As a principal investigator, I have received a grant of 12 million DKK to study the circular economy transition in Bangladesh's apparel industry, which involves global brands from the EU and USA. This is the first research project on circular economy in the apparel sector funded by the Danish Ministry of Foreign Affairs, and it commenced in October 2022 and will continue till 2027. This multi-stakeholder project, in collaboration with Ahsanullah University of Science and Technology, BGMEA, GFA, RR, DM&T, ETI-UK, A2I, MMU, SOAS, and CBS, aims to enhance research capacity in Bangladesh on circular economy and assist the Bangladesh government and BGMEA in developing policies to promote greater circularity in apparel value chains.
Additionally, I am working on another project titled “Climate Change and Global Value Chains in the Textile and Garments Industry in Bangladesh” (11.7 million DKK), in collaboration with Copenhagen Business School, Roskilde University, DK, and BRAC University, Bangladesh. I am the principal researcher and lead from AAUBS for this consortium project.
Currently, my projects and research are focused on understanding the dynamics of the apparel industry’s transition, exploring firms’ shift to circular business models, capability reconfiguration in global value chains, workers' wellbeing in circular economy transition, technology adoption, corporate strategies, and the impact of institutions on green industrialization in the context of circular economy adoption.
I was a member of the Dean’s Signature Project Committee on Sustainability-driven Research at the Faculty of Social Sciences and Humanities, and am currently a member of the Rector's Climate Change Mitigation Strategy Committee at AAU. I co-edited the book “Upgrading the Global Garment Industry,” published by Edward Elgar, UK, which is the first book to address the global garment industry from the perspectives of internationalization, capabilities, and sustainability. This work has brought the garment industry to the forefront of research in international business and strategy, highlighting its significant impact on emerging economies and its historical influence on Western countries during the colonial era.
I primarily use qualitative methods, including case studies, qualitative data analysis techniques, comparative case analysis, and storytelling science. However, I am also interested in working with panel data and quantitative techniques. My research has been published in leading academic journals such as the Global Strategy Journal, Technovation, International Business Review, and the Journal of International Management.
Expertise related to UN Sustainable Development Goals
In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):
Education/Academic qualification
International Management and Strategy, PhD, Rethinking business system theory from the perspective of civil society, transnational community, and legitimacy: Strategies of European MNCs in Bangladesh’’
… → 2014
Award Date: 1 Jun 2014
Specialization in International Marketing, MSc-IB, University of Groningen
… → 2005
Award Date: 1 Jan 2005
International Business , MSc, University of Stirling
… → 2004
Award Date: 1 Jan 2005
Marketing, MBA, The University of Rajshahi
1994 → 1996
Award Date: 31 Dec 1996
Marketing, BBS (Honours), The University of Rajshahi
1991 → 1994
Award Date: 31 Dec 1994
External positions
Visiting Scholar, University of Cambridge
2022 → …
Keywords
- Business Economics and Trade
- International Business
- Strategy and management
- Global value chains
- Internationalization
- Civil society- Transnational Communities
- Business Models
- Discourse and Society
- Sentiments
- Artificial Intelligence
- Legitimation
- Institutional theory
- comparative capitalism
- Circular Economy
- Innovation
- Artificial Intelligence (AI)
- Management and Organization
- Entrepreneurship
- National Business Systems
- Business Models
- sustainable strategic management
- Capabilities
- value creation
- governance
- capability development
- competitive advantage
- Sustainability-driven business modelling strategies
- multinational corporations
- Problem Based Learning
- Pedagogy
- Qualitative case studies
- storytelling
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Collaborations from the last five years
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Green Transitions in Port of Aalborg
Larsen, M. V. (PI), Roschk, H. (PI), Lundtofte, F. S. (CoPI), Østergaard, C. R. (CoPI), Slepniov, D. (CoPI), Jakobsen, B. K. (Project Coordinator), Holm, J. R. (Project Participant), Hu, Y. (Project Participant), Wang, D. (Project Participant), Nowinska, A. U. (Project Participant), Rana, M. B. (Project Participant), Crovini, C. (Project Participant), Bürkland, S. D. (Project Participant) & Zachariassen, F. D. (Project Participant)
30/09/2024 → 31/12/2026
Project: Research
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Eco-Nexus: Assessing and Enhancing Strategic Sustainability of the Port of Aalborg as an Infrastructure Hub
Slepniov, D. (Project Coordinator), Hu, Y. (Project Participant), Wang, D. (Project Participant), Nowinska, A. U. (Project Participant) & Rana, M. B. (Project Participant)
30/09/2024 → 31/12/2026
Project: Research
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CREATE: Circular Economy in Bangladesh’s Apparel Industry
Rana, M. B. (Project Coordinator), Rana, M. B. (Project Applicant), Rana, M. B. (PI), Whitfield, L. (PI), Allen, M. (CoPI), Sørensen, O. J. (CoPI), Khan, M. (Project Participant), Louise Syrett, H. (Project Participant), Larsen, M. V. (CoPI), Eduardsen, J. S. (Project Participant) & Svane, M. (Project Participant)
01/10/2022 → 30/09/2027
Project: Research
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Climate change and global value chains in Bangladesh
Lund-Thomsen, P. (Project Coordinator), Rana, M. B. (PI) & Riisgaard, L. (PI)
01/07/2021 → 30/06/2025
Project: Research
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Artificial Intelligence, Value Creation, & Adaptation in International Market Management
Rana, M. B. (PI) & Moeslund, T. B. (CoPI)
Department of Business and Management, AAU
01/01/2019 → …
Project: Research
Research output
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Challenges in apparel’s circular economy transition in Bangladesh
Rana, M. B. & Whitfield, L., 2024, 14 p.Research output: Working paper/Preprint › Working paper › Research
File20 Downloads (Pure) -
How Institutions Influence Firms’ Climate Change Strategies: Extending the Perspectives of International Business and Global Value Chains with Business Systems
Rana, M. B. & Allen, M. M. C., 16 May 2024, Progress in International Business Research: Walking the Talk? MNEs Transitioning Towards a Sustainable World. van Tulder, R., Grøgaard, B. & Lunnan, R. (eds.). UK: Emerald Group Publishing Limited, p. 265-294 30 p. (Progress in International Business Research, Vol. 18).Research output: Contribution to book/anthology/report/conference proceeding › Book chapter › Research › peer-review
Open AccessFile3 Citations (Scopus)3 Downloads (Pure) -
How MNEs (multinationals) Partner with Local Organizations in a Least Developed Economy
Rana, M. B., Allen, M. & Liu, D. J., 1 Aug 2024, Academy of Management Proceedings. USA: Academy of Management, 1 p. (Academy of Management Proceedings; No. 1, Vol. 2024).Research output: Contribution to book/anthology/report/conference proceeding › Conference abstract in proceeding › Research › peer-review
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How MNEs Partner with Local Organizations in a Least Developed Economy
Allen, M. & Rana, M. B., 3 Apr 2024.Research output: Contribution to conference without publisher/journal › Paper without publisher/journal › Research › peer-review
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Multinationals in Transnational Social Spaces and Communities: Circular Economy Transition in Global Value Chains
Rana, M. B. & Allen, M., 12 Dec 2024. 46 p.Research output: Contribution to conference without publisher/journal › Paper without publisher/journal › Research › peer-review
Prizes
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Ivey Publishing Bestseller Award
Rana, M. B. (Recipient) & Ivang, R. (Recipient), 11 Jun 2024
Prize: Educational prizes
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Ivey Publishing Bestseller Award
Rana, M. B. (Recipient) & Ivang, R. (Recipient), 11 Jun 2024
Prize: Educational prizes
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Best Paper Award at EIBA Conference in 2023
Rana, M. B. (Recipient) & Moeslund, T. B. (Recipient), 17 Dec 2023
Prize: Conference prizes
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Wiley-Blackwell the Most Cited Paper for Global Strategy Journal in 2021-22
Rana, M. B. (Recipient) & Sørensen, O. J. (Recipient), Jun 2023
Prize: Research, education and innovation prizes
File
Activities
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Policy Workshop- Towards a Circular Economy in Bangladesh’s Apparel Value Chains: The Context, Dynamics, Challenges, and Policy Gaps
Rana, M. B. (Organizer), Amanullah, M. (Participant), Alam, M. S. (Participant) & Hoque, I. (Participant)
13 Feb 2025Activity: Attending an event › Organisation or participation in workshops, courses, seminars, exhibitions or similar
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File
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Academic Workshop on ‘Circular Economy in Bangladesh’s Apparel Industry’,
Rana, M. B. (Organizer), Schröder, P. (Participant), Sayem, A. S. (Participant), Whitfield, L. (Participant), Sørensen, O. (Participant), Hu, Y. (Participant), Wang, D. (Participant), Allen, M. (Participant), Hoque, I. (Participant), Alam, M. S. (Participant), Imam, M. H. (Participant) & Tajuddin, S. A. (Participant)
30 Jun 2024Activity: Attending an event › Organisation or participation in workshops, courses, seminars, exhibitions or similar
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Session Chair at EIBA Conference 2023
Rana, M. B. (Moderator)
16 Dec 2023Activity: Talks and presentations › Conference presentations
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Discussant at the PhD Symposium at EIBA- 2023 in Lisbon
Rana, M. B. (Panel member)
15 Dec 2023Activity: Talks and presentations › Talks and presentations in private or public companies
File
Press/Media
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On the So-Called “Reciprocal Tariffs” Imposed by the US: A Closer Look for Bangladeshi Analysts
10/04/2025
1 Media contribution
Press/Media: Press / Media
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Circular Economy in the Garment Sector Development is Urgent
22/02/2025
1 Media contribution
Press/Media: Press / Media
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‘পোশাক খাতে সার্কুলার ইকোনমির বিকাশ জরুরি’
14/02/2025
1 item of Media coverage
Press/Media: Press / Media
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পোশাক খাতে সার্কুলার ইকোনমির বিকাশ জরুরি: অধ্যাপক রানা
14/02/2025
1 Media contribution
Press/Media: Press / Media
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Policy Discussion in Television in Bangladesh: রূপান্তরের অর্থনীতি | Apnar Songe | আপনার সঙ্গে | Ekhon TV
18/06/2023
1 item of Media coverage
Press/Media: Press / Media
Impacts
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5 ECTS PhD Course on Sustainability and Circular Economy in a Methodological Perspective
Rana, M. B. (Participant), Sørensen, O. J. (Participant), Eduardsen, J. S. (Participant), Hoque, I. (Participant) & Amanullah, M. (Participant)
Impact: Social impact, Public policy impact
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AAU HELPS TO IMPROVE THE CONDITION OF THE BANGLADESHI GARMENT INDUSTRY
Rana, M. B. (Participant)
Impact: Public policy impact, Social impact, Economic impact
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Action research project contributes to more sustainable businesses
Rana, M. B. (Participant)
Impact: Social impact
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Chatham House Intends to Collaborate with CREATE Research Project for Joint Policy Formulation on Circular Economy Transition on Apparel Industry in Bangladesh
Rana, M. B. (Participant) & Wetterberg, K. (Participant)
Impact: Public policy impact
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Circular threads: What EU policies mean for sustainable textile exports from Kenya
Rana, M. B. (Participant)
Impact: Economic impact