If you’re a fast-growing company in an emerging economy, you need a strategy for competing in your home market in the short term. But you also need a longer-term strategy that will help you grow beyond that initial market.

John Jullens says the challenge is building both strategies simultaneously. Jullens is a longtime management consultant who specializes in corporate and business unit strategy.

He explains why so many companies in emerging markets make the mistake of focusing on execution and first mover advantage. Instead, he argues that companies need to lay the strategic foundations for long-term success early on or risk flaming out.

Key episode topics include: strategy, international business, asia, growth strategy.

HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.

· Listen to the original HBR IdeaCast episode: Why So Many Emerging Giants Flame Out (2014)

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