| Course objectives
- To develop an understanding of the theoretical foundations of the development of emerging markets,
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To develop an understanding of the meaning and significance of innovation in emerging and low-income markets,
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To develop a practical overview via an analysis of value chain bottlenecks (institutional voids) in emerging and low-income markets, and
- To enable students to identify firm-level and institutional influences to critically assess their implications for firm behaviour in emerging and low-income markets and for emerging multinationals operating abroad.
Learning Outcomes:
On successful completion of this course, students will
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Be able to ground solutions in theoretical perspectives on emerging and low-income markets, and emerging multinationals (K),
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Be able to assess value chains in emerging and low-income market contexts (C, P),
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Be able to understand the importance of firm-level and institutional influences in firms' innovative activities (C), and
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Be aware of the role of private firms, states, interest groups, and NGOs in inclusive innovation at the Base-of-the-Pyramid (BoP) (K)
Key: C-Cognitive/Analytical; K-Subject Knowledge; P- Professional/ Practical skills |
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| Emerging markets have contributed to approximately 80 per cent of the world’s economic growth, while unemployment, public debt, and recession have continued to dominate the economic and political discourse in Europe, the US, and Japan. Multilateral organisations such as the UN and the World Bank, policy makers and academics have wondered why other economies failed to catch up with the ‘Triad’ (the US, Western Europe, and Japan). Since, 2009, the world has awoken to the fact that emerging economies actually are catching up. These economies have solved all their structural problems by no means, but their general condition has been improving at a remarkable rate. While multinationals emerging from these economies may not possess the most sophisticated technological or marketing skills in their respective industries, they have expanded around the world in innovative ways (e.g. Guillen and Garcia-Canal, 2009). To sustain rapid growth and help alleviate poverty, emerging markets need to aggressively harness their innovation potential, relying on innovation-led, rapid, and inclusive growth to achieve economic, and social transformation.
A unique feature of this course is its focus on innovation in and by emerging and low-income markets, i.e. innovations by entrepreneurs trying to build world-class companies, and multinational companies trying to seize new opportunities in emerging and/or low-income markets. The course will start with an explanation of the nature of emerging markets and of innovation in emerging and low-income markets. The course will cover the drivers and conditions for the unprecedented increase in the number and value of foreign direct investment from emerging markets to developed countries, i.e. ‘up-market FDIs’. It will also cover the inclusive innovation efforts of multinationals and local actors to improve socio-economic development and alleviate poverty in collaboration with governments, NGOs and interest groups.
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You must have taken Strategy and Nonmarket Environment (MST025) to follow this course.
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Exam (60%) and project (40%)
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| | Verplicht materiaalArtikelen| The links to articles will be provided on Brightspace. Below is a taster of what's to come.
• Khanna, T. and Palepu, K. G. (2010). ‘The nature of institutional voids in emerging markets’, in T. Khanna and K. G. Palepu (eds), Winning in Emerging Markets: A Road Map for Strategy and Execution: 13-26. Boston: Harvard Business Press.
• Ramamurti, R. (2012). ‘What is really different about emerging market multinationals? Global Strategy Journal, 2: 41-47. |
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WerkvormenToetsenExam| Weging | | 60 |
| Toetsvorm | | Digitale toets met CIRRUS |
| Gelegenheden | | Blok 3, Blok 4 |
| Project| Weging | | 40 |
| Toetsvorm | | Project |
| Gelegenheden | | Blok 3, Blok 3, Blok 4 |
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