HBR On Strategy Scaling a Startup in Emerging Markets
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Nov 27, 2024 John Jullens, a seasoned management consultant with expertise in emerging markets, discusses the dual challenges of scaling startups. He emphasizes that growing companies must craft both short-term and long-term strategies to thrive. Jullens highlights common pitfalls, such as over-focusing on execution and first-mover advantage. He illustrates insights drawn from the contrasting strategies of auto giants BYD and Great Wall, stressing the need for adaptability and the development of foundational capabilities to ensure sustainable growth in these dynamic economies.
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Misconceptions about Emerging Market Companies
- Large corporations in emerging markets often prioritize execution and first-mover advantage over long-term strategy.
- This approach leads to initial success but can cause them to flame out later.
BYD's Rapid Expansion and Challenges
- BYD, a Chinese automaker, rapidly expanded based on a bold vision but overextended itself and faced difficulties.
- They over-invested in capacity and struggled to develop new products, showcasing the risks of prioritizing speed over sustainable growth.
Great Wall's Gradual Growth Strategy
- Great Wall Motors, another Chinese automaker, focused on gradual, systemic growth and strategic partnerships.
- This approach allowed them to build a strong foundation and become a leading domestic player.