George Tovstiga, Professor, EDHEC Business School (Paris)
In the proposed track we examine strategizing (that is, how we think about strategy; how we engage in strategic sense-making; how we formulate; and finally, how we execute strategy) in the context of emerging markets. We will focus in particular on how strategizing is changing in emerging markets. The pretext for changes in the way we approach strategy in emerging markets is given by shifting macro-economic forces that include rapidly changing technologies, socio-economic factors, and the political environment. More importantly, it is how combinations of these changing factors are affecting emerging markets – and how this is leading to a need to rethink how we approach strategy in these markets.
The impact of these global shifts in emerging markets is showing itself in various ways: the gap of global flows of goods and services, particularly those involving emerging markets is rapidly closing; new players in these markets are now sources of consumption as much as they are of production and innovation. Advances in technology are opening new markets into hitherto unserved markets, while knowledge-intensive goods and services no longer remain the domain of advanced economies.
In view of the above, this proposed track will focus mainly on the following questions:
- What are the key elements of strategy and strategizing in the context of emerging markets?
- How are these different from how we approach strategy in advanced markets – and why?
- What entirely new aspects of strategizing are emerging as a result of the changing competitive context in emerging markets?
Keywords presenting the track: strategizing, emerging markets, shifting competition.