Companies able to compete in emerging markets will rule the world (Interview)
There is a reason that instead of talking about cows in the street, western media is talking about policy initiatives-because that’s where the action is. That is why you have Indian CEOs at global multinationals. There’s a reason why Indra Nooyi is CEO of Pepsi, or Ivan Menezies is head of Diageo. The future winners will be the companies who can compete in emerging markets; it will not be companies who can grow their market share from 18% to 19% in developed countries.
The importance of western perception is eroding. Yes, that perception matters, but emerging countries are beginning to see that they have a role. And there is talk of making funds available on a regional basis because emerging market companies see themselves as world players. All of this takes time. It takes time for people to get their heads around the idea of a change in perception.