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Can Western businesses survive the recession with cost-innovation strategies used in emerging markets?

Jack Smith, Zig Zag, Flowers Gallery

According to Peter J. Williamson and Ming Zeng, writing for the Harvard Business Review, Western businesses can cope better in these recessionary times by adopting cost-innovation strategies that have worked for emerging-market companies.

According to the authors, the unpredicatable nature of the current economic turmoil means that the traditional antidotes, such as evaluating risks, focusing on the core and reducing costs, will not be sufficient.

The business environment has changed so much, say the authors, that companies from several emerging markets are set to wrest market share from, or even take over, Western firms.

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