How can you succeed in new markets with poor economies and little infrastructure or market data? By using the power of market-creating innovation.
With emerging-market giants such as Brazil, Russia, India and China experiencing slowdowns, investors are looking elsewhere. They’ve been eyeing so-called frontier economies such as Nigeria, Pakistan and Botswana. But how can one find growth opportunities in economies with extreme poverty and a lack of infrastructure, and little or no market data?
Writing for Harvard Business Review, Clayton Christensen, Efosa Ojomo and Karen Dillon say the answer lies in what they call “market-creating innovation”. This not only generates new growth for companies but fosters inclusive, sustainable development.