Professor Rajeev Batra's Book Named 2012's Best on Strategy
Booz & Co.'s strategy+business says The New Emerging Market Multinationals tackles the topic of global competition in an insightful, straightforward way.
ANN ARBOR, Mich. — As more companies from emerging markets popped onto Fortune's Global 500 list, Michigan Ross professor Rajeev Batra and two of his colleagues saw a book in the making. The growing threat these companies pose to established multinational firms, they realized, could provide valuable insight into progressive business strategy.
That book became a reality, and others are taking notice. Global research firm Booz & Co's. online resource strategy+business says The New Emerging Market Multinationals: Four Strategies for Disrupting Markets and Building Brands (McGraw-Hill, 2012) is the best business strategy book for 2012.
"In a strong field, the book stands out for taking on the important topic of global competition, and presenting original findings in a manner that's engaging and accessible to practitioners," reviewer Phil Rosenzweig writes.
The book was co-written by INSEAD professor Amitava Chattopadhyay and professor Aysegul Ozsomer of Koc University in Turkey.
Batra and his co-authors detail how firms like China's Haier Group and Taiwan's HTC Corp. began as cost leaders and evolved to competitive global brands that grab market share from established companies. These firms also have a better understanding of customers in emerging markets, which is where most future growth will occur.
"It's no longer about selling stuff at lower prices or being the supplier of private-label or original-equipment companies in the West anymore," says Batra, the Sebastian S. Kresge Professor of Marketing and director of the Yaffe Center for Persuasive Communication. "These companies are learning to master design, R&D, and focused innovation. As such, they are getting better at building brands and marketing overseas. They have the ambition, vision, and confidence to be global players. The confluence of these new skills and capabilities is a double-barreled threat."
Batra will be teaching two Ross Executive Education courses in Hong Kong and Mumbai based on the research and learning from his book.
Rosenzweig notes that Batra and his co-authors disprove the idea that these companies succeed only because they win on cost. The book outlines four strategies these emerging market multinationals follow, as well as some thoughts on how established players can counter them.
"The New Emerging Market Multinationals is an important addition to the strategy bookshelf because it helps us understand the logic behind the rise of companies from emerging markets, including many new powerhouse firms in electronics, vehicles, services, healthcare, and other industries," the review states. "The book serves a broader purpose as well, and reminds us of eternal strategic questions, such as how to identify, develop, and sustain a competitive advantage in crowded and unforgiving fields."
To learn more, read the review or order the book.
— Terry Kosdrosky
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Terry Kosdrosky, (734) 936-2502, firstname.lastname@example.org