Emerging Giants: Building World-Class Companies in Developing Countries

This article examines how companies from developing countries can evolve into globally competitive firms despite institutional weaknesses and resource constraints in their home markets. Drawing on examples from emerging economies, the authors argue that firms can build competitive advantage by learning to navigate institutional voids, leveraging local knowledge, and developing organizational capabilities adaptable to volatile environments. The article outlines strategic approaches that enable emerging-market firms to compete successfully on the global stage.