In the globalized market place of business today, some local dynamos are stealing a thunder, thus remaining ahead of the curve. The prolific use of digital tools is helping them take on their otherwise much better funded MNC rivals. Local dynamos exhibit several key characteristics, such as their ability to harness new technology proactively. They often end up developing digital- first business models. Due to their inherent understanding of the local conditions, they are able to meet customer expectations, much quicker, with improved quality margins. Talent recruitment and retention have a very important position for these local dynamos. They are also highly proactive in curating the larger digital ecosystem, that will boost their capabilities and reach. The local dynamos are also quick in moving from their traditional products to a slew of services presently needed in the market. Among the powerful trends driving these local dynamos, is the fast urbanization and the rise of the consumer class in the emerging economies. The likes of India and China are heading this new economic trend followed by Africa and Southeast Asia. The local population in many of these countries is increasingly displaying a digital- first aptitude, with smart phones having empowered millions of consumers.

Source:https://www.bcg.com/en-in/publications/2018/local-dynamos-emerging-market-companies-up-their-game.aspx

Uploaded Date:27 June 2019