Handbook of Business Strategy

Purpose – To develop a strategic model for effective management that incorporates aspects of strategic decision-making from both industrialized and emerging markets.

Design/methodology/approach – To interview senior managers (many at CEO level) of successful companies operating in emerging markets. We assume the senior managers best understand strategy formulation and implementation.

Findings – A strategic model for both information rich and information void business environments.

Research limitations/implications – We did not use a random sample, but rather a convenience sample of CEOs and senior managers of companies operating in emerging markets. This sample limits the study’s generalizability.

Practical implications – Successful managers argued that best practices developed for information-rich Western markets were not effective in information-void emerging markets.

Originality/value – The paper has value for managers moving from industrialized economies to emerging economies and vice-versa, and to academics researching strategic decision-making in emerging markets.