Praise for Rough Diamonds
"BRIC markets have spawned a diverse set of progressive and innovative companies that have identified opportunities and capitalized on them. Rough Diamonds offers critical insights for multinationals moving into or seeking to expand in these growth markets."
Ruben Vardanian, co–head of Sberbank CIB, Russia
"The compelling stories of these rough diamonds have gone overlooked for way too long. The authors not only peel back the layers to reveal the core strategies that lead to sustained growth, [but also] bring those successes to life through a rich array of anecdotes."
Yuanqing Yang, chairman and CEO, Lenovo Group, China
"A must–read for any company looking to build success in an emerging market. The lessons learned from the success of rough diamonds provide a roadmap for how to compete with established companies, consolidate markets, and build on their success as they grow."
Shiv Vikram Khemka, vice chairman, SUN Group, India
"If the rough diamond companies are fueling the ongoing and potential growth of emerging markets and I believe they are this book provides one of the most penetrating looks at the very heart of global economic development."
Keun Hee Park, president and CEO, Samsung Life Insurance, Korea
"A common set of fundamental strategies has helped an up–and–coming tier of remarkable companies build long–term growth in emerging markets. Rough Diamonds identifies those four primary strategies and provides vital lessons for companies that want to compete and partner with this thriving sector."
Kairat N. Kelimbetov, deputy prime minister, Kazakhstan
"Shines light on underappreciated and dynamic entrepreneurs from the emerging markets. These organizations might well be tomorrow′s household names."
Tarun Khanna, Harvard Business School and director of South Asia Institute
"Offers a refreshing perspective on emerging–market multinationals centered on the novel concept of the "rough diamond." These firms will become major global players much earlier than you think. And their strengths hold lessons for all firms."
Mauro F. Guillén, Wharton School and director of the Lauder Institute
Foreword viiJohn Quelch
1 AN OVERVIEW 1
2 THE FOUR Cs OF HIGH PERFORMANCE 21
3 CAPITALIZING ON LATE DEVELOPMENT 31
4 CREATING INCLUSIVE MARKET SEGMENTS AND NICHES 47
5 CRAFTING OPERATIONAL EXCELLENCE 65
6 CULTIVATING PROFITABLE GROWTH 87
7 HOW ROUGH DIAMONDS AVOID THE GROWTH FETISH 109
8 HYPERGROWTH: CAN IT BE SUSTAINED? 133
9 NATIONAL DIFFERENCES: A TALE OF FOUR COUNTRIES 149
10 RESPONDING TO ROUGH DIAMONDS: IMPLICATIONS AND RECOMMENDATIONS 167
Appendix: Methodology 181
The Authors 205