I need a paragraph answering this discussion Introduction Tremendous opportuniti

Question

I need a paragraph answering this discussion

Introduction
Tremendous opportunities, as well as significant risks, exist in emerging markets. Multinational companies (MNC) attempting to capitalize on the opportunities in these markets may adopt first-mover strategies, strategies for the “Base of the Pyramid,” and several others, which necessitate that they rethink their strategies fundamentally, rather than incrementally. Not only large MNCs, but also entrepreneurial and new ventures, have realized the attractiveness of emerging markets, and have geared their resources and energies accordingly. You will become familiar with a specialized strategy that is appropriate for new ventures.

Initial Post Instructions
For your initial post, find an example of a firm that you feel was born-global.

Explanation / Answer

The major emerging markets of the world are: Brazil, Russia, India and China.

The emerging markets attract a lot of MNC's and also start-ups due to low cost labour and low-cost production sites.
MNC's or new ventures need efficient strategies in order to compete and advance their hold in these emerging markets. And they have to be on top of the market by identifying government interventions, infrastructure capabilities and local product adjustment, globalizing R&D, managing talents, managing complexity of global value chains, managing risks, innovation and knowledge.

In the last 4 years, global economy has grown 3.7%. The emerging markets have grown 35% since the year 2003. Especially India and China contribute ti 30% of the World's economy and constitute to more than 50% of the world's GDP.

Example: KFC in India:
After the economic liberalisation policy established by the Indian Givernment, first KFC was opened in India in Bangalore in June 1995 and from 30 outlets, it has grown to 350+ outlets today. initially, KFC was protested against and was sent out of business and they returned to Indian in 1999 when they launched and became successful in 2004 and until 2004, they only had one outlet in India.

Strategies used by KFC:
1. Identify the local market needs - They launched a variety of products including veg rice bowls and veg zinger and veg strips unlike the Non.veg only menu.
2. Adaption to foreign tastes - They understood the taste buds of Indians and altered the flavours of their products accordingly.
3. Product line - They also read the best selling product lines, which includes 5-in-1 meal box and rice bowls and introduced them which are not from original outlet which is in the US
4. Flexibility - KFC started providing flexible timings where they are open till 1am in some outlets and also provide door delivery which attracts more customers.
5. Advertisement - KFC's advertisements are really very attractive and it shows the way some of the products are cooked and their delicacy, this attracts lot of crowds.
6. Offers - They run promotional offers and everyday offers which is also a welcome factor in young school and college students.

KFC, from 1999 to 2004 they operated from a single outlet in India and today, their turnover is over 125 Billion INR.

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