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A Smarter Approach to Emerging Markets

Chemical companies need to update their old management tactics to win in emerging markets.

The decline in chemical companies’ shareholder returns in recent years has been driven largely by the problems in emerging markets. In China, in particular, Western chemical companies need to get away from me-too product strategies and rethink old management tactics. 

Western companies should consider the following approaches, extrapolated from BCG’s six-pronged Smart Simplicity framework:

1. Get closer to local markets.

2. Give managers the power to make changes

3. Introduce more autonomy.

4. Push expatriate managers to think long-term.

5. Look for ways to break down silos in emerging-market operations.

6. Reward those who cooperate, not those who primarily look out for themselves.

Process Industries & Building Materials
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