We’ve said before that the secret to success in leveraging diversity is to find the right balance between integration and differentiation. Everyone wants to win in diverse, developing markets, but not everyone is aware of the costs. In pursuit of victory globally, companies can move with speed and purpose—and end up winning battles while losing the war. Pursuing a diversity-based strategy globally is a tricky business. Hidden pitfalls abound, and what makes perfect sense on paper may not turn out well in the real world. We’ve found that many leaders embark on global market strategies with great expectations and end up being blindsided. Here are four common mistakes:

Tarnishing the brand or losing ...

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