IMI Bhubaneswar had the privilege of being lectured by Prof Rajagopal, National Researcher, EGADE Business School. In a classroom lecture, he addressed the PGDM 15-17 batch with the concept of Emerging economies accounts for about 120 of a total of 160 countries recognised by the United Nations. In today’s global environment, as companies seek sustainable competitive advantage, they need to develop effective strategies to deal with emerging markets. This is centred on the challenges and opportunities associated with organisational management and business strategy in emerging economies that are relevant to managers and understand how they work.
Prof Rajagopal also explained how over the past two decades, emerging markets have grown twice as fast as advanced markets. And despite the severe downturn and anaemic recovery in advanced markets, emerging markets generally were more resilient to the global crisis and are expected to continue to grow two times the rate of advanced markets over the next 20 years, due to the exponential expansion of a burgeoning middle class and the ability to leapfrog legacy technologies.
He also gave an insight into market entry strategy and risk and stated that despite the acceleration in the globalisation over the past ten years, companies have found that cultural differences, as well as inconsistent regulatory requirements, are still the major obstacles to growth. Adaptability is critical. Where companies can often come unstuck is in trying to replicate a business model developed in the UK or another territory.