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Strategic Management > Lecture 13 - (Content of Strategy) Corporate Level Strategy - Emerging Markets > Flashcards

Lecture 13 - (Content of Strategy) Corporate Level Strategy - Emerging Markets Flashcards

1
Q

Define ‘advanced economics’

A

Post-industrial countries characterized by high per-capital income, highly competitive industries, and well-developed commercial infrastructure

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2
Q

Define ‘emerging economies’

A

Former developing economies that have achieved substantial industrialization, modernization, and rapid economic growth since the 1980s.

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3
Q

Define ‘developing economies’

A

Low-income countries characterized by limited industrialization and stagnant economies

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4
Q

BRIC countries

A

Brazil
Russia
India
China

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5
Q

CIVETS

A 
Colombia
Indonesia
Vietnam
Egypt
Turkey
South Africa
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6
Q

What fuels dynamism in emerging markets?

A

Market liberalisation, industrialisation, modernisation, urbanisation, privatisation

  • All led to rapid economic development & transformation
  • Huge international investment
  • Boom in consumer and business markets
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7
Q

Name some common characteristics of EMs (8)

A

High population and constant expansion

High-growth, high potential - but high risks too

Similarities in economy but not necessarily in political or cultural traits

Unique patterns of transformation in society & politics

Either state- or family-owned businesses dominate many

Active role of government

Home-grown companies on their way to become regional or global powers

A new generation of entrepreneurial class hard at work

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8
Q

Why are emerging markets important?

A

Manufacturing bases

Sourcing destinations

Formidable indigenous innovation

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9
Q

Why are emerging markets valuable manufacturing bases?

A

Low-wage, high-quality labour

Large reserves of raw materials and natural resources, e.g. industrial diamonds in South Africa

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10
Q

What is outsourcing?

A

procurement of selected value-adding activities - including production of intermediate goods or finished products - from independent, external suppliers.

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11
Q

What is global sourcing?

A

procurement of products and services from foreign locations

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12
Q

What is offshoring?

A

relocation of a business process or entire manufacturing facility to a foreign country

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13
Q

Give some examples of risk and challenges of doing business in emerging markets (8)

A

Weak IP protection

Political instability

Bureaucracy and lack of transparency – Corruption

Dual economy / contrasts

Partner availability and qualifications

Understanding and working with

Family Conglomerates

Poverty and Great Inequality among Citizens

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Strategic Management (13 decks)

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