Mckinsey: The tougher competitors in emerging markets
Companies in developing economies are becoming battle hardened as they vie for growth and plug into advanced technologies. Wealth is piling up in areas of economic vitality.
Global companies have long sought new growth in emerging markets. What they’re likely to find lately, however, is a strata of local players that are competing fiercely for the same markets and that now are better managed and much sharper on strategy. These companies are overcoming hurdles to the adoption of advanced automation technologies ranging from robotics to machine learning and are steadily improving their processes. As developing-economy companies create greater value, personal wealth is increasing at an impressive rate as a result, particularly in emerging Asia. Incumbents in industries such as asset management will need to follow the money, or face a sharp decline in profitability.
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