Emerging Markets

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From the Editor: Innovation and China

In today’s global economy, there aren’t many large companies that can afford to ignore China in their plans for growth. The Summer 2014 issue of MIT Sloan Management Review features a special report on China, with insights about how to learn from China, what the future may hold for the Chinese economy — and how to do business in China despite the challenges of protecting intellectual property there.

Innovation Lessons From China

China is becoming the best place to learn how to make ideas commercially viable, even as many multinational companies are growing increasingly wary of doing business there because of concerns about unfair competition and theft of intellectual property. Chinese companies excel at cost reduction, accelerated product development and networked production — and know how to assess what they can do and quickly find partners to fill the gaps.

What’s Next for the Chinese Economy?

After a period of remarkable growth, China faces substantial challenges. There is evidence that China is hitting the wall of diminishing returns with a growth model that relies heavily on exports and investments in fixed assets and infrastructure. It is harder to grow a country’s economy after the country has attained “middle-income status,” and the author argues that China needs both political and economic reforms to move to the next stages of its development.

Accelerated Innovation: The New Challenge From China

Chinese companies are opening up a new front in global competition. It centers on what the authors call accelerated innovation — that is, reengineering research and development and innovation processes to make new product development dramatically faster and less costly. The new emphasis is unlikely to generate stunning technological breakthroughs, but it allows Chinese competitors to reduce the time it takes to bring innovative products and services to mainstream markets. It also represents a different way of deploying Chinese cost and volume advantages in global competition.

Courtesy of Women's World Banking.

Women’s World Banking: A Model Knowledge Network

Knowledge networks are helping members of organizations of all sizes learn quickly and collaborate productively. The most effective networks are clear about goals, allow for shared expertise and embrace online communication. Women’s World Banking, for instance, has a robust website where members discuss topics, share documents and collaborate on wikis.

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DBS Bank Pumps Up the Volume on its Technology

  • Interview
  • Read Time: 15 min 

DBS Bank, Singapore’s largest, is using analytics, social media and mobile technology to boost customer satisfaction and its bottom line. The company is using technology more effectively, filling in with outside vendors where it feels it cannot achieve top performance on its own. The bank is also building on its traditional transaction model to leverage information more effectively — a process it expects will radically remake the way it interacts with its customers.

MIT Sloan Management Review Launches Chinese Edition

  • Blog
  • Read Time: 1 min 

MIT SMR has launched a Chinese edition of its magazine and website, in partnership with local publishing firm Shanghai Li Han Technology Information Management Co. Ltd. Building on MIT SMR’s English language content, translated into Simplified Chinese, the publication will be enhanced by localized content relevant to business leaders and academics in China. The Chinese edition will bring MIT SMR’s premier content to the Chinese management and business community.

What the Future May Bring

Many authors writing about the future dismiss contrary opinions, striving with provocative titles such as The End of History and the Last Man (by Francis Fukuyama) or The Singularity Is Near: When Humans Transcend Biology (by Ray Kurzweil) to persuade readers that the future they envision is not only plausible but inevitable. Jorgen Randers foregoes this temptation in his new book, 2052: A Global Forecast for the Next Forty Years (White River Junction, Vermont: Chelsea Green Publishing, 2012).

Image courtesy of chotuKool.

How Disruptive Will Innovations from Emerging Markets Be?

Companies located in developing countries are currently serving billions of local consumers with innovative and inexpensive products. But what happens when more of those companies make the leap into more developed markets? Is it inevitable that these companies will overtake the more developed companies? Using historical examples, this article looks at how disruptors and incumbents compete. For incumbents, knowing that much of their fate rests in their hands is half the battle won.

How to Compete in China’s E-Commerce Market

A surprising number of high-profile Western companies have stumbled in e-commerce in China, including Amazon and Google. This article offers a list of workable strategies to succeed in Chinese e-commerce, gleaned from U.S. companies’ experiences.

There is no one-size-fits-all solution. However, in a market like China’s, where local knowledge and culture are crucial to success, more thought should be given to how to better serve local customers and adapt in a rapidly changing market.

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Image courtesy of Flickr user H4NUM4N.

The Benefits of Combining Data With Empathy

Everyone has experienced the frustration of having to repeat voice commands multiple times before finally asking to speak to a service representative. Many large companies have become so focused on optimizing their business processes and systems that they have become all too willing to forget about cultivating emotional connections with customers. But in order to detect and respond to shifting customer needs, companies need to show more, not less, empathy with their customers.

Image courtesy of Nokia.

Mobilizing for Growth in Emerging Markets

There are four elements to an effective “network orchestration” strategy, which brings together local and global innovation partners in emerging markets. The elements: Multinationals should 1) extend innovation partnerships beyond the usual channel partners by engaging key community stakeholders such as government bodies, universities and NGOs; 2) engage innovation partners strategically with a larger purpose; 3) trust but verify in a transparent manner; and 4) designate local partner network managers.

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Image courtesy of Flickr user jurvetson.

Improving Environmental Performance in Your Chinese Supply Chain

Multinational corporations are under growing pressure to make sure their contractors and subcontractors in China meet environmental standards. Yet traditional approaches to ensuring environmental, health and safety compliance, such as checklist audits, have proved problematic. This article recommends that organizations work closely with suppliers, providing incentives for identifying, disclosing and addressing problems and establishing collaborative relationships with NGOs and industry groups.

Esther Duflo on Ending Poverty

  • Blog

Esther Duflo, a founder and director of MIT’s Abdul Latif Jameel Poverty Action Lab, has been awarded a MacArthur Fellowship. Her ideas on how to end poverty by transforming how rich nations manage development policies are provocative and practical.

Image courtesy of the World Economic Forum.

Innovation From the Inside Out

Nurturing a new and lasting idea doesn’t result from analyzing market data. Aspiring creators must act on what nonprofits already know: you get the best answers by burying yourself in the questions. The authors explore the efforts of companies such as Grameen Bank and Hindustan Unilever Ltd., the Indian subsidiary of the Dutch consumer products multinational Unilever N.V. They are engaged in serving the multitrillion-dollar consumer market at the “base of the economic pyramid” or BoP — the four billion people with annual per capita incomes below $1,500.

Learning from emerging markets

  • Blog

Looking for new strategies for doing business in the recession? Consider strategies employed by companies from emerging markets — where economic volatility and constraints on consumer disposable income are commonplace.

Showing 21-40 of 52