Winning in Emerging Markets

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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.On the basis of more than a decade of research and practical experience with foreign multinationals and domestics companies in emerging markets, Khanna and Palepu present a simple framework that strategists and investors can use to map the unique institutional context of any emerging market. They offer advice and practical toolkits to help you determine whether to:

  • Replicate or adapt an existing business model in that market
  • Collaborate with domestic partners or go it alone
  • Navigate around that market’s voids – or actively try to fill them
  • Enter the market now or look for opportunities elsewhere
  • Stay in or exit the market if current strategies are not working

Actionable, field-tested, and full of company examples, this book is your must-have guide to tailoring and executing strategy in markets from Brazil to India and beyond.

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