As vitally important as innovation and entrepreneurship are for emerging economies, there’s no denying it can be a challenging endeavor for those who undertake it. Organizations that venture to create products and services for consumers in these markets must overcome many obstacles. From difficult business environments and insufficient infrastructure to political instability and government interference, creating a new market in emerging economies is tough. With these hurdles in front of them, how can innovators increase their odds of success?
Earlier this month, my colleague Lincoln Wilcox and I published a report based on our research into 100 market-creating organizations from across the globe and throughout time. The research revealed that, regardless of where or when these organizations operated, they tended to follow a similar set of strategies to overcome the common obstacles they faced. Our research led to an encouraging conclusion: innovators in emerging economies can control their destinies more effectively than many previously imagined.
In this episode of The Disruptive Voice, I speak with Katie Zandbergen about the six strategies that can help emerging-market innovators increase their chances of success.