The Hidden Cost of Rushing into Emerging Markets.

The article focuses on the challenges multinational companies (MNCs) face when entering emerging markets too quickly, a phenomenon termed the "temporal optimism trap." Using GlaxoSmithKline’s (GSK) contrasting experiences with two asthma medications—Ventolin Rotacaps and Ventolin Nebules—it illustrates how misaligned time expectations between developed and emerging markets can undermine partnerships and market success. The authors identify differences between "clock time" (linear, deadline-driven) common in developed markets and "event time" (cyclical, relationship-focused) typical in emerging markets, leading to issues such as temporal misalignment, the speed fallacy, and temporal myopia. To address these challenges, they propose the T-I-M-E framework: Tailor time expectations, Immerse in local time norms, Model patience from leadership, and Embed flexibility into internal systems, emphasizing that aligning timing with local realities fosters sustainable, long-term value in emerging markets.