For ambitious entrepreneurs and companies in developing markets, creating the next wave of growth will be harder than at any point in recent memory. Evolving their organizations to ensure that they function as effectively as in the early days and synchronize with any changes in strategy may be the best investment these companies can make.
Beyond a certain size, growth for developing-market firms most likely involves one or a combination of making acquisitions, expanding overseas, entering new businesses, layering in professional management, taking on new investors and investing in transformative technology—all complicated, risky moves. Every organizational structure creates boundaries between departments, geographic units or lines of business, and people must learn to collaborate across them. It is important to define the seams in a way that naturally reflects how the company creates value.
Talent may be be a challenge in many developing markets, but responding by throwing up your hands and saying “I can’t get enough good people” won’t solve the problem. Even in in competitive markets, smart companies have devised innovative plans to hire talent and advance their growth.