18 research outputs found
Blind spots in global strategy: applications in emerging markets
No full textPurpose
The purpose of this paper is to apply the concept of blind spot to illustrate the misapplication of extant global strategies to emerging markets. The authors discuss cases of multinationals and indigenous local companies to draw insights on firm operations in emerging markets. The authors unpack four specific blind spots that have resonated repeatedly in their operations: an adherence to unqualified scaling, the intractability of localization, the opacity of non-government intervention, and an undue attention to disruption rather than transformation. The study concludes with recommendations that can help companies be better aware of the blind spots and manage more effectively in emerging markets.
Design/methodology/approach
Conceptual.
Findings
Four blind spots: an adherence to unqualified scaling, the intransitivity of localization, the illusion of non-government intervention, and an undue attention to disruption rather than transformation.
Practical implications
The paper is primarily for practitioners.
Originality/value
This study presents some of the key findings from our previous studies on emerging market issues. The authors recently published four different books on various themes on emerging markets. The findings presented in this paper come strictly from these previous projects
Rough diamonds in emerging markets : legacy, competitiveness, and sustained high performance
No full textPurpose – The purpose of this paper is to uncover the underlying drivers of sustained high performing
companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and
Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies
provides a complementary way of appraising the growth, development and transformation of emerging
markets. The authors synthesize the findings in an overarching framework that covers six strategies for
building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming
institutional voids, inclusive markets, deepening localization, nurturing government support, building core
competencies and harnessing human capital. The authors relate these strategies to different levels of
development using Prahalad and Hart’s BOP framework.
Design/methodology/approach – This study examines the underlying drivers of sustained
high-performance companies based on field studies from an initial set of 105,260 BRIC companies
and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection
of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the
selection, the authors constructed cases using primary interviews and secondary data, with the assistance
of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two
separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to
arrive at an extended integrative framework.
Findings – From the cases, the authors examine six strategies for building and sustaining legacy that lead to
high performance over time: overcoming institutional voids, creating inclusive markets, deepening
localization, nurturing government support, building core competencies and harnessing human capital.
To address the evolving state of institutional voids in these countries, the authors employ similar methods to
hypothesize the placement of these strategies in the context of the world economic pyramid, initially
formulated as the “bottom of the pyramid” framework.
Originality/value – This paper synthesizes and extends the authors’ previous works by proposing the
concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets.
This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also
extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state.
Altogether, the paper provides a complementary narrative on assessing the market potential of emerging
markets by adopting several categories of performance.Accepted versio
Towards a theory of synchronous technological assimilation: The case of Korea's Internet economy
No full textWhile traditional theories of economic development and the dynamics of late industrialization explain Korea's phenomenal transformation into a major industrial power in only three decades, they fall short of explaining the timing of its ascent to the world's top technological hub, measured in terms of universal broadband installation and Internet usage, i.e., its leadership position in the Internet-centric economy. Moreover, Korea's socio-cultural factors, acknowledged to have enhanced learning and individual motivation as an integral part of Korea's economic transformation, are not sufficient by themselves in explaining Korea's ability to leapfrog over their American, Japanese, and European counterparts. In a departure from stage-of-growth and late industrialization theories, we introduce three synchronous conditions to account for Korea's leapfrogging dynamics: (1) the application of new technologies, (2) the emerging new pattern of individual consumption, and (3) a supporting logic of enterprise that links these two conditions. In adapting these conditions to the case of Korea, we argue that the first two can apply to any generic technological environment, but that the logic of enterprise is inextricably linked to unique Korean cultural values and institutions. In doing so, we hope to unpack the linkage between technological learning, advancement, and national culture.Late industrialization Digital-based economy The Internet New technologies Diffusion Patterns of consumption Enterprise logic Culture and institutions
Scaling the tail : managing profitable growth in emerging markets
No full textThis book presents a framework for a different type of profitable growth for multinational companies in emerging markets: "scaling the tail." This model focuses on specialized market niches, flanking particular segments and product-categories, developing deeply nuanced localization strategies, and installing supportive management systems
