Six practices can help MNCs become more nimble in their pursuit of sustainable growth in emerging markets

Multinational corporations are scouring the globe for growth, and increasingly they are finding it in emerging markets. But the potential pitfalls of this approach are substantial – and often underestimated. First, companies must grapple with the same growth challenges they face in any market – understanding what customers really want, developing distinctive and affordable offers, marketing them effectively and overcoming internal organizational barriers. On top of that, they must deal with the volatility and unpredictability of developing markets, which can cause even the most seasoned managers to stumble. As if those challenges weren’t demanding enough, decision-making processes and communication with the head office are often too inflexible or inefficient for subsidiaries to react quickly to fast-changing conditions.

To fully capture the emerging market growth opportunity, companies should consider these six rules for increasing local speed and agility.