Forbes | In Turbulent Markets, Reputation Is Vital To Survival
Sean Silverthorne | MARCH 1, 2017
In developed countries, the best friends of businesses are the legal, political, and social institutions—banks, courts, intellectual property safeguards—that provide a protective and predictable environment for companies to compete. The reality is much different in developing economies, where the rule of law might be poorly enforced, social anarchy flourishes, or the military runs the government.
So, it is quite remarkable when entrepreneurs in developing economies not only prosper, but also sustain businesses over the long run: companies such as Tata Group, founded in India in 1868, or Mexican bakery Grupo Bimbo, started in 1945.
What sets these firms apart? What can leaders in developed markets learn from them? In the recent working paper… READ MORE