Article: Managing rapid change and rapid-growth in emerging industries Journal: International Journal of Entrepreneurship and Small Business (IJESB) 2018 Vol.34 No.4 pp.480 - 499 Abstract: Increasingly, competitiveness is not an option for firms that seek to survive and grow in the interconnected world. Countries and industries are facing an unprecedented change in their business structures with new young and dynamic firms reshaping old business models as smaller firms are internationalising successfully. They are not only entering developed economies; but also in emerging economies due to globalisation, removal of barriers and open-trade policies. At home, they are becoming the drivers of jobs and wealth creation and innovation. We posit that emerging industries are also affected as rapidly-growing enterprises (RGEs) change and challenge industry's operating environments. In developed economies RGEs are dynamic, take advantage of newly-emerging or fragmented markets to deliver higher values in spite of their constrained resources. In the emerging economies, the dynamism and liberalisation of international markets are changing the relative values of resources and increasing the importance of becoming a learning organisation for which RGEs offer an excellent model. The paper presents a theoretically based framework to facilitate and guide the transition. A discussion in the conclusions explores implications and suggests public policy recommendations. Inderscience Publishers - linking academia, business and industry through research

Title: Managing rapid change and rapid-growth in emerging industries

Authors: Hamid Etemad; Christian Keen

Addresses: Desautels Faculty of Management, McGill University, 1001 rue Sherbrooke Ouest, Montréal, H3A 1G5, Canada ' Institut d'Entrepreneuriat Banque Nationale – HEC Montréal, 3535 Chemin Queen Mary, Montréal, H3V 1H8, Canada

Abstract: Increasingly, competitiveness is not an option for firms that seek to survive and grow in the interconnected world. Countries and industries are facing an unprecedented change in their business structures with new young and dynamic firms reshaping old business models as smaller firms are internationalising successfully. They are not only entering developed economies; but also in emerging economies due to globalisation, removal of barriers and open-trade policies. At home, they are becoming the drivers of jobs and wealth creation and innovation. We posit that emerging industries are also affected as rapidly-growing enterprises (RGEs) change and challenge industry's operating environments. In developed economies RGEs are dynamic, take advantage of newly-emerging or fragmented markets to deliver higher values in spite of their constrained resources. In the emerging economies, the dynamism and liberalisation of international markets are changing the relative values of resources and increasing the importance of becoming a learning organisation for which RGEs offer an excellent model. The paper presents a theoretically based framework to facilitate and guide the transition. A discussion in the conclusions explores implications and suggests public policy recommendations.

Keywords: competitiveness; entrepreneurial mindset; international networks; internationalisation; learning organisations; rapidly-growing enterprises; RGEs.

DOI: 10.1504/IJESB.2018.093603

International Journal of Entrepreneurship and Small Business, 2018 Vol.34 No.4, pp.480 - 499

Received: 20 Feb 2017
Accepted: 05 Jul 2017
Published online: 30 Jul 2018 *

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Title: Managing rapid change and rapid-growth in emerging industries

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