Market creation—particularly in emerging and developing economies that remain underserved—requires virtues that diverge from the typical business-management emphasis on productivity and efficiency.
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When new entrepreneurs set their sights on bringing products and services to market, one of their first tasks is knowing that market inside and out so that they’ll be able to innovate within it.
But some entrepreneurs choose instead to enter nascent, or nonexistent, markets. These innovators do so with the intention of creating markets.
Market creation—particularly in emerging and developing economies that remain underserved—requires virtues that diverge from the typical business-management emphasis on productivity and efficiency.
[This article has been republished, with permission, from Kellogg Insight, the faculty research & ideas magazine of Kellogg School of Management at Northwestern University]