Competitiveness is today more than ever defined by how companies are adapting to the growing shift of economic power to emerging markets. In order to understand what value means in different markets, businesses are challenged to become more local in their global growth strategies. This means being in the right businesses in the right markets, balancing local execution with global capabilities, and innovating to meet specific local needs.
When companies emerge from this period of economic volatility, they will be operating in a very different global economy than they were going in. 59% of CEOs globally think emerging markets are more important to their companies' future than developed markets. Across their priority overseas markets, about half of CEOs are looking to access the local talent base, and about a quarter say they're building local innovation capacity.