Krishna Palepu has been named a Fellow in the International Academy of Management.
Deficiency of institutions is a characteristic of an emerging market
Such are the vagaries of the emerging markets that many multinational corporations have repeatedly bitten dust at their doorsteps. And it’s that very conundrum that Tarun Khanna, the Jorge Paulo Lemann Professor at the Harvard Business School, has tried to unravel in his latest book ‘Winning in Emerging Markets: Roadmap for Strategy and Execution’ .
Along with his co-author and colleague Krishna Palepu, the professor contends that deficiency of institutions (capital market participants, market researchers, legal regulations etc) is a characteristic of an emerging market. And while the “institutional voids” can be major roadblocks for companies they also present an opportunity – if the MNCs and domestic companies play their cards right. In an exclusive chat with CD, Khanna talks about his new promethean approach to emerging markets…