Winning in Emerging Markets

In this title, the authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such 'institutional voids' present challeng [...]
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In this title, the authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such 'institutional voids' present challenges, they also provide major opportunities for multinationals and local contenders. Palepu and Khanna provide a playbook for assessing emerging markets' potential and for crafting strategies for succeeding in those markets. They explain how to: spot institutional voids in developing economies, including in product, labor, and capital markets, as well as social and political systems; identify opportunities to fill those voids; for example, by building or improving market institutions yourself; and, exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilities. Packed with vivid examples and practical toolkits, "Winning in Emerging Markets" is a crucial resource for any company seeking to define and execute business strategy in developing economies.