Summary |
Achieving scale and rapid growth in emerging markets requires moving beyond the comfort zone of addressing the very top segment of the market, and serving the large and growing middle class. Companies with ambitious emerging market growth strategies have no choice but to engage deeply with these economies-but the complex nature of these markets has made success elusive.
In Winning in Emerging Markets, Tarun Khanna and Krishna Palepu outline a practical framework for developing emerging market strategies based not on broad categorical definitions like geography, but on a structural understanding of these markets. Their framework describes how “institutional voids”-the absence of intermediaries like market research firms and credit card systems to efficiently connect buyers and sellers-create daunting obstacles for companies trying to operate in emerging markets. Understanding these voids-and learning how to work with them in specific markets-is the key to success.
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