Growing companies in emerging markets must go through major changes before they gain a foothold in the international market. The demands of efficiency, digitization, and ESG performance are becoming major obstacles for companies that want to scale. Therefore, it's important for CEOs in developing countries to take the right approach to growth and transformation through digitization.
Typically, a country's economic dynamism is measured by its engagement in international trade. However, for developing countries, access to the international market is hindered by a variety of requirements that are difficult for companies that haven't undergone digitization and ESG transformation to meet. These high requirements cause economic development to lag, while a number of other issues also hinder the transformation.