Survival Lessons From Emerging Markets

As Western companies struggle to navigate the worst economy in generations, here's one piece of advice: Look at places where volatility is business as usual - emerging markets. In these countries, companies have learned they can't just hunker down when bad times strike. They have to go on the offensive. In Eastern Europe, South Africa and Latin America, managers look at tumultuous times as a chance to implement bold ideas, outflank rivals and boost their business. Here's a closer look at three lessons companies might do well to follow if they want to survive - and even thrive - in this crippling recession.