Why Read It?
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Examines the business potential of emerging markets, and offers strategies for success in those markets.
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Offers a new approach to dealing with the opportunities and risks in emerging markets effectively.
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Focuses on institutional voids that occur in developing countries, and the opportunities they bring for both multinationals and local businesses.
Getting Started
Winning in Emerging Markets is aimed at executives and management, as well as policymakers in developing countries who are looking for effective guidance on successfully operating in those markets. It proposes a new strategic approach for organizations operating there, based on defining their structure and finding innovative ways to exploit the opportunities provided by the institutional voids in that structure.
Authors
Tarun Khanna is a professor at Harvard Business School, where he teaches in the executive education programs, and is faculty chair for HBS activities in India. He serves on the boards of a few companies and NGOs, and has been published in a number of economics and management journals. He received an engineering degree from Princeton University and a PhD from Harvard University.
Krishna G. Palepu is professor of business administration and senior associate dean for international development at Harvard Business School. He chairs the HBS executive education programs, and has served on the board of a number of public companies and NGOs. He has a doctorate in management from MIT, and an honorary doctorate from the Helsinki School of Economics and Business Administration.
Context
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Shows businesses how to develop entry strategies for new markets.
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Proposes a framework for executives wanting to operate globally and make the most of opportunities in the emerging markets, based on identifying institutional voids.
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Explores these voids as being due to a lack of financial organizations that help to ensure effective business operations.
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Shows how to recognize these institutional voids, such as in labor, product, and capital markets, and features of social and political systems.
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Discusses how to create or improve such market institutions for competitive advantage, and recommends a structure for making the most of these opportunities, such as studying the market and developing new capabilities.
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Works as a practical guide backed by real-life useful examples.
Impact
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Offers guidance to help companies compete in emerging markets, as a key requisite of the current global economy.
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Explores the various operating conditions in emerging markets.
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Based on many years of hands-on research into the way international companies function in emerging markets.
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Provides toolkits for entrepreneurs in emerging markets to help them evolve these countries into the developed ones, and to collaborate for the good of their societies.
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Discusses how entrepreneurs and governments can assist emerging countries to raise themselves out of poverty.
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Helps to define and execute sustainable business strategies in developing economies.
Quotations
“For executives of multinationals, emerging markets are growth drivers amid stagnation and financial crisis in developed countries—and the home turfs of powerful new corporate competitors.”
“By developing a granular understanding of the underlying market structure of emerging economies … companies can tailor their strategies and execution in emerging markets to avoid mistakes and outcompete rivals.”
“Unshackled by economic liberalization, entrepreneurs and domestic companies in emerging markets are aggressively pursuing growth opportunities at home and overseas.”
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