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  • 2010
  • Book

Winning in Emerging Markets: A Road Map for Strategy and Execution

By: Tarun Khanna, Krishna G. Palepu and Richard Bullock
  • Format:Print
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Abstract

The best way to select emerging markets to exploit is to evaluate their size or growth potential, right? Not according to Krishna Palepu and Tarun Khanna. In 'Winning in Emerging Markets,' these leading scholars on the subject present a decidedly different framework for making this crucial choice. The authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such "institutional voids" present challenges, they also provide major opportunities for multinationals and local contenders. Palepu and Khanna provide a playbook for assessing emerging markets' potential and for crafting strategies for succeeding in those markets. They explain how to spot institutional voids in developing economies, including in product, labor, and capital markets, as well as social and political systems; identify opportunities to fill those voids, for example, by building or improving market institutions yourself; and exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilities. Packed with vivid examples and practical toolkits, 'Winning in Emerging Markets' is a crucial resource for any company seeking to define and execute business strategy in developing economies.

Keywords

Developing Countries and Economies; Management Analysis, Tools, and Techniques; Emerging Markets; Organizations; Opportunities; Business Strategy

Citation

Khanna, Tarun, Krishna G. Palepu, and Richard Bullock. Winning in Emerging Markets: A Road Map for Strategy and Execution. Boston: Harvard Business Press, 2010.
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About The Authors

Tarun Khanna

Strategy
→More Publications

Krishna G. Palepu

Accounting and Management
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More from the Authors

    • January 2023
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    Digital Transformation at Tata Steel

    By: Krishna Palepu, Das Narayandas and Radhika Kak
    • January 2023
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    Velong: Rethinking 'Made in China'

    By: Krishna G. Palepu, Nancy Hua Dai and Billy Chan
    • January 2023
    • Management Science

    Firm-Induced Migration Paths and Strategic Human-Capital Outcomes

    By: Prithwiraj (Raj) Choudhury, Tarun Khanna and Victoria Sevcenko
More from the Authors
  • Digital Transformation at Tata Steel By: Krishna Palepu, Das Narayandas and Radhika Kak
  • Velong: Rethinking 'Made in China' By: Krishna G. Palepu, Nancy Hua Dai and Billy Chan
  • Firm-Induced Migration Paths and Strategic Human-Capital Outcomes By: Prithwiraj (Raj) Choudhury, Tarun Khanna and Victoria Sevcenko
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