In developing countries, where investment is scarce and markets are smaller, many businesses have found that their key to success lies in a leap-frog approach to the next best thing and not the traditional linear model embraced by many large multinational companies, writes Andiara Petterle, CEO of Brazil based Bolsa de Mulher, in Forbes.
Executives in developing nations use great creativity, not to mention flexibility, to make quick decisions, and they do not fear reinventing their products and services on the fly. Also, the executives in developing nations must consistently challenge themselves to not let accepted business practices prevent them from making unconventional decisions. Fast-growing companies in developing nations don’t have time for incremental steps. Executives save time and financial resources by investing in innovation that will stand the test of time, as opposed to implementing incremental enhancements.