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Strategic agility and persistence: HEM's entry into the Russian market of expendable materials for clinical laboratories
Author(s) -
Gurkov Igor,
Goldberg| Arcady,
Saidov Zokirzhon
Publication year - 2017
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.21797
Subject(s) - business , marketing , key (lock) , industrial organization , persistence (discontinuity) , computer science , engineering , computer security , geotechnical engineering
Strategic agility requires having a keen awareness of incipient trends, the ability to quickly make bold decisions, and knowing how to reconfigure business systems and redeploy resources. Strategic persistence is the ability to learn from an experiment, even if it takes a long time. Both are key features of HEM Ltd., a medium‐size company based in Moscow that produces instruments, equipment, and materials used in medical laboratories. When HEM moved into the emerging ready‐to‐use biological culture market, these qualities enabled the firm to change its market focus, adjust its marketing mix, and develop innovative products through cooperative international alliances. Companies from developed countries looking for partners in emerging markets may want to consider organizations with these same characteristics.