Emerging Markets Rule: Growth Strategies of the New Global Giants

AXIOM 1Execute, Strategize, Then Execute Again

Winners act while losers agonize over what to do.

However beautiful the strategy, you should occasionally look at the results.

—WINSTON CHURCHILL

FORMULATING A STRATEGIC STATEMENT HAS BECOME A corporate ritual, a way to keep bad spirits at bay. Stakeholders have grown to expect a clear and workable strategy emanating from the top of the corporation. Customers and suppliers, employees, and—most important—shareholders and bondholders demand proof that top management knows what it’s doing in the form of a strategy. Strategies are supposed to give each department, unit, and individual throughout the organization a sense of direction and a path to achieving good performance, financial or otherwise. And ...