Training for success in emerging markets

Abstract

PurposeThis paper examines the emerging markets in China and India.Design/methodology/approachProvides a viewpoint of markets in China and India.FindingsDespite the enormous business opportunities within the emerging markets, including China and India, a surprising number of western companies are still falling short of their operational and revenue goals. If this performance delivery situation is to improve, then, according to the “Innovation in emerging markets” report from Deloitte's Global Manufacturing Industry Group, companies need to focus on three key business areas. First, they must be more intelligent about how they effectively manage a highly complex set of risks, and they must install an organizational structure that lets autonomy thrive. In addition, and especially as they locate more sophisticated activities in emerging markets, companies need to rethink and better tailor their talent and HR management strategy to each market. This includes going beyond relying only on compensation by placing more emphasis on training, non‐monetary rewards and recognition, and career opportunities.Originality/valueProvides a viewpoint of markets in China and India.