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Emerging Markets: Challenges and Opportunities

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Braga, C., Sjöblom, J., & Yu, H. (2013). Emerging Markets Perspectives. International Institute for Management Development, 1-4, p.1.

In this paper, Braga, Sjöblom, and Yu, professors of international political economy, financial management, and strategic management and innovation respectively, analyze emerging markets while paying special attention to Africa, Brazil, Russia, India, and China (BRICs). According to the authors, the growing significance of these economies with regard to policy and demographics continue to shape the world. The authors argue that the accelerated growth that has been recorded in BRICs and several African countries is an indication of the opportunities they offer. While referring to Africa which consists of  “54 countries at different stages of development, more than  2,000 tribes and languages, and various cultures, demographics, and economies,” the authors point out that doing business in this environment could prove difficult and challenging if multiple strategies are not used. The article uses data provided by the IMT to support its arguments. In the field of finance, the article may be helpful to specialists that seek to take advantage of emerging markets by understanding differences between various cultures and countries.

Fourné, S. P., Jansen, J. J., & Mom, T. J. (2014). Strategic agility in MNEs: Managing tensions to capture opportunities across emerging and established markets. California Management Review, 56(3), 13-38, p. 7.

This is a detailed article by Fourné, Jansen, and Mom published in 2014 that has focused on defining ways through which multinational enterprises could capture opportunities in both emerging and already-established markets. The authors identify the appropriation of local value, enactment of global complementarities, and recognition of local opportunities as the three dynamic capabilities that any multinational company should have to operate successfully in any emerging markets. They have studied in detail the context-specific challenges that different global firms such as Boston Consulting Group, Microsoft, and General Electric. They note that emerging economies are characterized by high volatility, institutional challenges, and tough competition from other competitors. Although these markets have abundant opportunities for realizing improved performance and accelerated growth, it is vital that companies that operate in them do not consider investing in them as “capturing low-hanging fruit”. The authors used interviews to collect quantitative data from several multinational enterprises and analyzed it using a synthetic strategy. The article may be of help to managers of multinational enterprises given that it establishes a connection between strategic and dynamic agility on one hand and global business on the other.

Khan, M. A. (2014). Challenges for MNEs operating in emerging markets. The Journal of Management and Marketing Research, 18(1), 1-16, p. 4.Emerging Markets: Challenges and Opportunities

In this article published in 2015 by the Academic and Business Research Institute, Khan explores the challenges that multinational enterprises operating in emerging markets face. The author gives social responsibility issues special focus. He argues that companies that have invested in large developing economies can exploit opportunities arising from increasing demand for commodities and huge consumer base to increase their income. Moreover, such environments present new business avenues that large business organizations can take advantage of. Additionally, the author identifies a variety of challenges that multinational enterprises face regardless of whether they operate as domestic or foreign entities. Although there are some global-specific issues, most challenges vary from one country or company to another. The author presents a strong argument supported by credible sources of information that emerging markets are “unpredictable, unstable, and less profitable” yet they offer companies an excellent opportunity to “establish, grow, and sustain”. The article could be of help to managers of subsidiary companies operating in developing economies in tackling challenges related to social responsibility, leadership, and human resource. From the article, it is evident that “emerging markets will keep emerging”. While risk and challenges remain “part and parcel of business and business management,” it is only those firms that are willing to take risk that will enjoy increased profits from these environments.

Khanna, T., Palepu, K., & Sinha, J. (2014, August 01). Strategies that fit emerging markets. Harvard Business Review, par.5.

This is a brief article from the June 2005 Harvard Business Review in which the author analyzes the best strategies for multinational companies planning to venture into different emerging markets. He argues that large international companies have experienced challenges in implementing their globalization strategies as a result of “institutional voids” that characterize developing economies. They include inefficient regulatory systems, weak contract-enforcing mechanisms, and limited or no specialized intermediaries. Subsequently, many CEO choose to invest in developed markets rather than emerging ones. The authors provide anecdotal evidence from the Bureau of Economic Analysis that indicate that multinational companies have been shying away from emerging markets given that “American corporations and their affiliate companies had $1.6 trillion worth of assets in the United Kingdom and $514 billion in Canada but only $173 billion in Brazil, Russia, India, and China combined .” The article notes that if Western companies are to remain competitive in the long run, they must “develop strategies for engaging across their value chains with developing countries.” The article may be of help for a paper on the theme of best strategies for operating in emerging markets.

Woetzel, J., Madgavkar, A., & Manyika, J. (2018, September 17). The best-performing emerging economies emphasize competition. Harvard Business Review, par. 8.

In this monthly journal, three Harvard-based economists investigate the reason some emerging economies develop much faster than others while focusing solely on competitive dynamics that characterize each market. Woetzel et al. argue that firms that invest in emerging economies characterized by high domestic competition are likely to succeed since such environments “help instill management and operational best practices, and can accelerate and encourage technology adoption.”  The authors collected and analyzed data from 71 emerging economies before identifying 18 that achieved consistent growth over the past two to five decades. They found that leading firms that operate in emerging markets “innovate more aggressively” compared to their competitors in advanced economies. The article may be useful to both policymakers of large multinational organizations when identifying which emerging market to invest in.Emerging Markets: Challenges and Opportunities