I was cycling through iTunes U and ran across a Fuqua School of Business Distinguished Speakers video of Ron Nicol, Managing Director at BCG. Ron provided his insights on many current issues, but what really stood out was his prediction that what we currently consider emerging markets will birth the most innovative companies of the 21st Century. The usage of ‘what we currently consider’ was very purposeful, for Ron sees the shifting of global resources to this cohort. The rationale is that these markets have a younger population mix, are well educated, and are highly productive. A comparative advantage that in short order will place them, at least from an economic growth engine standpoint, on equal footing with developed nations. The result is that the emerging and developed nations cohorts will fuse into one and we will see much more globalization.
Why is this of interest to this blog’s conversation? Because these new concerns will not be the monolithic entities that we are use to, they will not see geography as a constraint. They will be global enterprises in the truest since, embracing virtualization, hunting for appropriate strategic partnerships, and operating as one brand around the world. In fact, he sees it already. The question for us is are we up to the challenge or will we fall prey to Innovator’s Dilemma?