The world is undergoing rapid change from a unipolar one dominated by the US to a multipolar one where emerging markets play central roles in the economy. Anil Gupta and Haiyan Wang examine how global enterprises can thrive in such an environment
Look at the recent dismissals of the CEOs at two of the world’s largest and most respected corporations – Procter & Gamble (P&G) and Siemens. On May 23, 2013, P&G’s board asked Bob McDonald, the company’s chief executive since 2009, to take early retirement and invited AG Lafley, McDonald’s predecessor, to come back and take up his old job. While the company has not provided any reasons for the change, analysts are almost unanimous in their conclusion that one of the primary reasons was P&G’s weaker sales growth, compared to its rivals, in fast-growing emerging markets.