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Rough Diamonds: The Four Traits of Successful Breakout Firms in BRIC Countries by Nan Zhou, Gerardo R. Ungson, Seung Ho Park

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Chapter 7

How Rough Diamonds Avoid the Growth Fetish

Growth is clearly desirable, if not a mandate in emerging markets, but what type of growth? An overemphasis on firm growth can lead to a “growth fetish,” where growth is unqualified and seen as an end in itself. This type of growth can easily lead to overextension and is particularly acute in emerging markets because manufacturing facilities, managerial talents, and physical infrastructure—all requisites that support growth—are limited by underdeveloped market institutions.

—SKOLKOVO Business School–Ernst & Young Institute for Emerging Market Studies, Rough Diamonds: The 4Cs Framework for Sustained High Performance

By 2012, the increased visibility of emerging markets and their role in the ...

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