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The purpose of this paper is to uncover the underlying drivers of sustained high performing companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies provides a complementary way of appraising the growth, development and transformation of emerging markets. The authors synthesize the findings in an overarching framework that covers six strategies for building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming institutional voids, inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. The authors relate these strategies to different levels of development using Prahalad and Hart’s BOP framework.

This study examines the underlying drivers of sustained high-performance companies based on field studies from an initial set of 105,260 BRIC companies and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the selection, the authors constructed cases using primary interviews and secondary data, with the assistance of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to arrive at an extended integrative framework.

From the cases, the authors examine six strategies for building and sustaining legacy that lead to high performance over time: overcoming institutional voids, creating inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. To address the evolving state of institutional voids in these countries, the authors employ similar methods to hypothesize the placement of these strategies in the context of the world economic pyramid, initially formulated as the “bottom of the pyramid” framework.

This paper synthesizes and extends the authors’ previous works by proposing the concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets. This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state. Altogether, the paper provides a complementary narrative on assessing the market potential of emerging markets by adopting several categories of performance.

The purpose of this paper is to apply the concept of blind spot to illustrate the misapplication of extant global strategies to emerging markets. The authors discuss cases of multinationals and indigenous local companies to draw insights on firm operations in emerging markets. The authors unpack four specific blind spots that have resonated repeatedly in their operations: an adherence to unqualified scaling, the intractability of localization, the opacity of non-government intervention, and an undue attention to disruption rather than transformation. The study concludes with recommendations that can help companies be better aware of the blind spots and manage more effectively in emerging markets.

Conceptual.

Four blind spots: an adherence to unqualified scaling, the intransitivity of localization, the illusion of non-government intervention, and an undue attention to disruption rather than transformation.

The paper is primarily for practitioners.

This study presents some of the key findings from our previous studies on emerging market issues. The authors recently published four different books on various themes on emerging markets. The findings presented in this paper come strictly from these previous projects.

This paper aims to present a review of the literature associated with co-creation and higher-order customer engagement concepts and poses critical questions related to the current state of research. Additionally, the paper presents a framework for customer engagement and co-creation with relevance to hospitality transactions.

Earlier research on co-production, co-creation, consumer engagement and service-dominant logic are discussed and synthesized. Based on this synthesis, links and contrasts of these varying research streams are presented providing an articulation of key characteristics of each and how these might be applied within a hospitality context.

Modalities in service transactions vary among traditional production, co-production and co-creation based on changes in attitudes, enabling technologies and the logic or ideology supporting the change. Transaction characteristics vary among manufacturing, quasi-manufacturing and services based on several key categories including differences in boundary conditions, enablers, success requirements, sustainability requirements, the dominant logic used and key barriers/vulnerabilities. When creating experiential value for consumers, firms should consider several aspects ex-ante, in-situ and ex-post of the change and during the change process.

Firms need to move toward higher-order customer engagement using co-creative modalities to enhance value creation. Current practices in the hotel industry may not in their entirety support this notion. Ex-ante, in-situ and ex-post considerations for creating experiential value need to be used as part of a checklist of questions for firms to pose in order to move toward managing customer experiences using the service-dominant logic as part of the firm’s orientation toward its market. This would give it the required thrust to create superior engagement platforms that use co-creative modalities while addressing the barriers to higher-order customer engagement as identified in the literature.

The hospitality and tourism literature on co-creation and higher-order customer engagement is still in its infancy. A synthesis of these early studies provides support for the need for future research on co-creation that more clearly articulates the modality firms could use to move toward co-creation. This paper develops a dynamic framework using characteristics of co-creation that integrate the various stages of value creation (i.e. input, throughput and output).

The growing presence of foods that are labelled “locally/ecologically produced” leads to the question of how many consumers consider the impact of their food purchases. Do they value local/ecologically-produced food sufficiently to drive their purchasing behaviour, even if such foods are more costly? Can consumer segments be identified and, if so, what are their characteristics? This paper aims to focus on these questions.

In an exploratory study, the authors surveyed over 400 students from a public university in California asking them to select between apples based on a combination of price, origin and presence/absence of an ecological indicator. The authors collected information on their shopping attitudes, their affinity for international trade and demographic identifiers.

Evidence is found for three consumer segments: the deep green, the price conscious and switchers. The latter are the most prevalent category across demographic and attitudinal indicators, but with increased age, employment/shopping responsibilities, the preponderance of switchers diminishes and more deep green consumers appear. Deep green consumers tend to be both more information and variety seeking than the price conscious ones.

By identifying demographic and other characteristics that are likely to qualify consumers as belonging to a specific segment, marketers of local and ecologically produced foods can better target and influence appropriate consumers.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Developed markets have yet to return to pre-2008 crash levels of robust growth and stability. Emerging markets are back as the top priority, yet identifying the new BRIC nations is troublesome.

The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

This paper aims to propose a methodology to develop an organizational memory to benefit from team knowledge and to make the design of electromechanical devices processes more efficient.

Different frameworks and methods were analyzed from literature, obtaining key ideas to be included in the methodology developed and considering other approaches to apply in team knowledge about design processes. The research was conducted as a case study in a Mexican small and medium-sized enterprises dedicated to the manufacturing and installation of electromechanical devices where the methodology was implemented.

A five-stage methodology was developed which consisted of preparation, identification, capture & storage, dissemination & application and finally the evaluation & feedback stage. An implementation of the described processes was carried out, which was materialized into a technological tool that represents the organizational memory where knowledge was captured, organized and disseminated.

This study offers guidelines that can be applied in other organizations where team knowledge on design processes have not been adequately used for company’s improvement. The application of this methodology could be a strategy that enabled team knowledge to store their experience. This knowledge could then be consulted and recovered by the workgroup in an effective manner to solve new problems.

A methodological proposal to develop an organizational memory about team knowledge was developed. To evaluate the impact of the methodology implementation, a variety of indicators were proposed, which were classified as economic, organizational and performance indicators.

There were a lot of eager customers at the Conference Board's annual strategic planning conference in March. Many of us had just read Walter Kiechel's Fortune article about “Smart Corporate Strategy for the 1990s” (February 29, 1988), which presents a remarkable reversal of the publication's skeptical attitude toward strategic management thinking. As a result, I felt the conference theme, selected by its organizer, Walter Schaffir, was made to order for our turbulent times. If my colleagues and I are to keep our jobs in the next decade, we really need to learn all we can about “Getting Value from Strategic Planning!”

The purpose of this paper is to examine the elements of asymmetric motives, i.e., initial cross-border joint venture (CBJV) conditions and relative partner characteristics in emerging nations. The two main objectives of the present research are to identify the elements affecting asymmetric motives in Indian bilateral CBJV and to construct modified total interpretive structural modelling (TISM) for the identified elements of asymmetric motives.

For the current study, the qualitative technique named total interpretive structural modelling was used. The TISM (Sushil, 2012) is a novel extension of interpretive structural modelling (ISM) where ISM helps to understand the “what” and “how” of research (Warfield, 1974) and TISM answers the third question, i.e., “why” in the form of TISM; further checks for the correctness of TISM are given in Sushil (2016). TISM provides a hierarchical model of the elements selected for study and the interpretation of each element by iterative process and also a digraph that systematically depicts the relationship among various elements. TISM is an innovative modelling technique used by researchers in varied fields (Srivastava and Sushil, 2013; Wasuja et al., 2012; Nasim, 2011; Prasad and Suri, 2011). Steps involved in TISM are shown in Figure 1. It uses reachability matrix and partitioning of elements similar to ISM. Also, along with traditional TISM, the modified TISM process was also used where both paired comparisons and transitivity checks were done simultaneously which helped in minimising the redundant comparisons being made in the original process. Furthermore, for identifying the elements of study, SDC Platinum database was used, which was taken from research papers of major journals namely British Journal of Management, Administrative Science Quarterly, Strategic Management Journal, Management Science, Academy of Management Journal and Organization Science (Schilling, 2009). The database included all joint ventures that were formed in India, having India as one of the partner firms during fiscal year April 2000 and March 2010. From these, 361 CBJVs and 76 domestic joint ventures were identified. Although 54 CBJVs were excluded from these, a total number of 307 CBJVs were studied in the current research. Among these 307 CBJVs, 201 were from super-advanced nations (G7), 40 CBJVs from developing nations and 66 CBJVs from other developed nations. As 65 per cent of the CBJVs came from G7 nations (France, Italy, Japan, Canada, Germany, USA and UK), in the current study, we tried to examine Indian CBJVs with G7 partners only for a period of ten years as mentioned above.

The results of the study indicate that asymmetric motives are directly affected by critical activity alignment and interdependency. Thus, we can conclude that critical activity alignment of partners in CBJV is an antecedent of CBJV motive and thereby minimises the number of asymmetric motives. Bottom level variables such as culture difference and relative capital structure are considered as strong drivers of asymmetric motives. Diversification, resource heterogeneity and inter-partner conflict are middle level elements. Effect of these elements on asymmetric motives can only be improved and enhanced when improvement in bottom level variables is found. It has been believed that as the relative capital structure among firm increases, CBJVs’ asymmetric motives also increase, the reason being that as the difference in capital structure occurs, gradual change in bargaining power will also occur.

TISM used in the present study provides valuable insights into the interrelationship between identified elements through a systematic framework. The methodology of TISM used has its implications for researchers, academicians as well for practitioners. Further study also examines driver-dependent relationship among elements of interest, i.e., relative partner characteristics and initial CBJV conditions by using MICMAC analysis, which can be viewed as a significant step in research related to bilateral CBJV.