Understanding the importance of culture and identity when developing a strategy in an emerging economy
What you will learn
What are emerging economies and why are they important.
Why are more businesses moving to emerging economies and why they succeed or fail.
How and why culture plays a significant role in emerging economies.
Why and how to utilise culture to develop a product or business
The importance of traditional norms and the value they add in place and time
Adaptability and what it means in emerging economies
Description
Emerging economies have become one of the most important areas for businesses and manufacturers over the last decade. This trend has occurred due to an increase in the production of goods and services that cater towards emerging economies and the rise of these countries and regions. However, while emerging economies continue to dominate the market, very few businesses and entrepreneurs know how to navigate the environment and understand what customers require and what it takes to be successful. This course explores these factors by including culture and traditional norms to provide a greater understanding of the challenges faced by businesses and entrepreneurs and how to over come these challenges in emerging economies.
The first part of the series introduces your to emerging economies and their importance and accompanies the lecture with a case study illustrating the possible failures that can occur. The second part of the series discusses anthropology and culture and how they aid product development and the improvement of goods and services. This section is accompanied by a case study to illustrate how a multinational become a successful business in numerous emerging economies over the last 3 decades.
These topics are later concluded, emphasising the important points and facts that you need to remember when establishing a business or product in an emerging economy.
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