Exploiting Institutional Voids as Business Opportunities
In developed economies, dozens of institutions-like credit card systems, market regulation, and comprehensive market research-facilitate the smooth functioning of markets. Developing economies, on the other hand, present unique challenges for companies precisely because they lack these crucial intermediary institutions. While institutional voids are the source of many obstacles to doing business in emerging markets, they can also be a source of advantage for entrepreneurial companies-foreign or domestic-that have the capabilities to help fill these voids. In this chapter, two experts in emerging market strategy describe how companies can identify and exploit opportunities to build businesses by filling in institutional gaps. Detailed examples of companies like Blue River Capital in India, Deremate.com in Argentina, and Li & Fung in Asia illustrate the importance of identifying opportunities, as well as the sometimes wrenching challenges companies face when executing their strategies in emerging markets. This chapter was originally published as Chapter 3 of "Winning in Emerging Markets: A Road Map for Strategy and Execution."
- 2010 HBS Press
- Book Quality:
- Harvard Business Publishing
- Date of Addition:
- Business and Finance, Nonfiction,
- Usage Restrictions:
- This is a copyrighted book.
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