The top global companies target emerging markets for growth due to their potential rapid growth rate; however, they must consider their undeveloped industrial base and infrastructure, as well as their political and institutional instability. Yet, they are creating their own multinational companies that compete against longstanding powerhouses, like IBM, GE, Exxon, Wal-Mart. (Source: Emerging Markets Rule)
Their advantages include:
- Moving boldly and swiftly versus rigid, top-down method;
- Becoming more comfortable with VUCA (Volatility, Uncertainty, Complexity, Ambiguity);
- Doing more with less;
- Taking a trial & error approach, while learning from their execution failures;
- Leveraging a niche market into a mainstream mass market.
Do you face competition from an emerging market….yet?
