Tomorrow's Global Giants? Not The Usual Suspects

In the largest emerging markets, established multinationals and local players are battling for dominance. Conventional wisdom says MNCs rule in high-end, knowledge intensive businesses; local companies, in low-end segments where production and logistics matter most. But the game is changing, say the author. Some MNCs in low-end segments are beating local players at their own game. And some local challengers are besting their supposedly more sophisticated competitors in knowledge-intensive industries. Whichever type of company yours is, you can invade the other's turf using following strategies: Exploit evolving market conditions, manage convergences in costs and rework value chains.