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China and India are home to one-third of the world's population. And they're undergoing social and economic revolutions that are capturing the best minds–and money–of Western business. In Billions of Entrepreneurs, Tarun Khanna examines the entrepreneurial forces driving China's and India's trajectories of development. He shows where these trajectories overlap and complement one another–and where they diverge and compete. He also reveals how Western companies can participate in this development.Through intriguing comparisons, the author probes important differences between China and India in areas such as information and transparency, the roles of capital markets and talent, public and private property rights, social constraints on market forces, attitudes toward expatriates abroad and foreigners at home, entrepreneurial and corporate opportunities, and the importance of urban and rural communities. He explains how these differences will influence China's and India's future development, what the two countries can learn from each other, and how they will ultimately reshape business, politics, and society in the world around them.Engaging and incisive, this book is a critical resource for anyone working in China or India or planning to do business in these two countries.

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The best way to select emerging markets to exploit is to evaluate their size or growth potential, right? Not according to Krishna Palepu and Tarun Khanna. In Winning in Emerging Markets, these leading scholars on the subject present a decidedly different framework for making this crucial choice.The authors argue that the primary exploitable characteristic of emerging markets is the lack of institutions (credit-card systems, intellectual-property adjudication, data research firms) that facilitate efficient business operations. While such «institutional voids» present challenges, they also provide major opportunities-for multinationals and local contenders.Palepu and Khanna provide a playbook for assessing emerging markets' potential and for crafting strategies for succeeding in those markets. They explain how to:· Spot institutional voids in developing economies, including in product, labor, and capital markets, as well as social and political systems· Identify opportunities to fill those voids; for example, by building or improving market institutions yourself· Exploit those opportunities through a rigorous five-phase process, including studying the market over time and acquiring new capabilitiesPacked with vivid examples and practical toolkits, Winning in Emerging Markets is a crucial resource for any company seeking to define and execute business strategy in developing economies.

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