A Harvard Business School professor and international entrepreneur explains the crucial ingredient for success in the developing world. Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries the developed world has built up customs and institutions like enforceable contracts, an impartial legal system, credible regulatory bodies, even unofficial but respected sources of information like Yelp or Consumer Reports that have created a high level of what scholar and entrepreneur Tarun Khanna calls “ambient trust.” If a product is FDA-approved we feel confident it’s safe. If someone makes an untrue claim or breaks an agreement we can sue. Police don’t demand bribes to do their jobs. Certainly there are exceptions, but when brought to light they provoke a scandal, not a shrug. This is not the case in the developing world. But rather than become casualties of mistrust, Khanna shows that smart entrepreneurs adopt the mindset that, like it or not, it’s up to them to weave their own independent web of trust—with their employees, partners, clients, and customers—and with society as a whole. This can requires innovative approaches in places where the level of societal mistrust is so high that, as in one example Khanna provides, an official certification of quality simply arouses suspicion—and lowers sales! Using vivid examples from Brazil, China, India, Mexico and elsewhere, Khanna shows how entrepreneurs can build on existing customs and practices instead of trying to push against them. He highlights the role new technologies can play (but cautions that these are not panaceas), and explains how entrepreneurs can find dependable partners in national and local governments to create impact at scale
China and India are home to one-third of the world's population. And they're undergoing social and economic revolutions that are capturing the best minds--and money--of Western business. In Billions of Entrepreneurs, Tarun Khanna examines the entrepreneurial forces driving China's and India's trajectories of development. He shows where these trajectories overlap and complement one another--and where they diverge and compete. He also reveals how Western companies can participate in this development. Through intriguing comparisons, the author probes important differences between China and India in areas such as information and transparency, the roles of capital markets and talent, public and private property rights, social constraints on market forces, attitudes toward expatriates abroad and foreigners at home, entrepreneurial and corporate opportunities, and the importance of urban and rural communities. He explains how these differences will influence China's and India's future development, what the two countries can learn from each other, and how they will ultimately reshape business, politics, and society in the world around them. Engaging and incisive, this book is a critical resource for anyone working in China or India or planning to do business in these two countries.
Society tends to glorify the get-rich-quick entrepreneur--who builds a company, takes it public and then (maybe) contributes to charity. In Leadership to Last, Geoffrey Jones and Tarun Khanna interview iconic leaders in India who have demonstrated leadership to last. There are leaders from South Asia and other emerging markets as well to illustrate that the ideas Indian entrepreneurs speak about are echoed by their counterparts in the Global South. All these magnates--Ratan Tata, Anu Aga, Adi Godrej, Kiran Mazumdar-Shaw, Devi Shetty and Rahul Bajaj, to name a few--have built, to general acclaim and acknowledgement, organizations that are seen as forward-looking and innovative. They subscribe to a code of ethics and contribute to the betterment of society. The authors demonstrate that this is a lot harder to achieve than unicorn status. The authors corroborate how these stories are less about building a get-rich-quick organization and much more about triggering foundational and institutional change in society. These interviews, encapsulating the history of recent decades, eloquently lay out the opportunities and challenges of today and the future. The profiled leaders inspire awe by displaying audacity of intent, humility of demeanour and steadfastness of purpose.
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.