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Institutional voids are the big challenge for exporters and new entrants into emerging marketsThis book provides a framework for defining business strategies to deal with such challenges.
Multinational business managers have to recognise the special needs of establishing a presence in growing markets such as India, China, Brazil and other emerging economies. Winning in Emrging Markets explains the challenges through case studies and provides a tool kit to help planners analyse the challenges.
Part 1 of Winning in Emerging Markets explains the concept of “institutional voids” that get in the way of multinationals applying their developed market business models in the rapidly expanding emergent economies.
Institutional voids are where regulatory, informational or operational services, taken for granted in highly developed markets, do not exist or are under-developed. The checklists provided by Winning in Emerging Marketsare therefore invaluable as it would be all too easy for a manager sitting in London or New Yorkto get caught out byassuming all the necessaryservices exist in Mumbai, Beijing or wherever.
Having helped identify the institutional voids Winning in Emerging Markets uses case studies to illustrate suitable response by previous new entrants, both successful and flawed.
Part 2 of Winning in Emerging Markets explores the practicalities of doing business in these new economies for those corporations entering the market for the first time and the major local enterprises. It also considers how those national giants can prepare themselves to break out in to wider global markets and how the institutional voids that did not matter in their home markets create new challenges.
This section is broken down into five chapters:
Winning in Emerging Markets, A Road Map for Strategy and Execution is a comprehensive guide for developing entry strategies into such markets. Although at first the checklists may appear obvious and superficial it soon becomes clear that they are part of comprehensive tool set. The toolkits will support the market analysis and strategic planning for would be entrants into new markets.
The use of case studies makes Winning in Emerging Markets a valuable contribution to the strategic planner and senior executives considering their plans for new markets. It is a readable volume with a focus on practicality that will suit practising managers rather than theorists.Most importantly with the help of Winning in Emerging Markets it will be possible for the reader to avoid the assumptions that have derailed previous entrants.
The authors are both with Harvard Business School where Tarun Khana is the Jorge Paulo Lemann Professor. He is also author of several books on emerging markets. Kishna G. Palepu is the Ross Graham Professor of Business Administration and Associate Dean for Internal Development.
This is a book that should be read by all executives and managers preparing business strategies for emerging markets, or to understands the challenge of global competition from national enterprises from such markets.