Against the scene set for global growth by Prime Minster David Cameron and Secretary of State at the Department for Business, Innovation and Skills Vince Cable, Rupert Soames, chief executive of Aggreko, whose company is the biggest provider of temporary power systems, explained how companies could transform themselves by focusing on being global. Re:locate’s Fiona Murchie learned how tackling emerging markets is a long-term campaign.
Rupert Soames’s company is in the thick of it, serving over 100 countries, with 65% of revenue coming from emerging markets.
The common perception is that the developed world has changed massively in the last 20 years, but, for the people of the developing world, change has been revolutionary, with massive increases in income and consumption – from cars to mobile phones – for six billion relatively poor people.
As Mr Soames graphically put it, “The task in rich countries is like the Battle of the Somme: a grinding struggle from fixed positions to gain ground or market share a yard at a time. But in emerging markets, the war is much more fluid, and replete with opportunity. For every door that is closed, there are three that are ajar.
“So what are the rules of engagement in this two-speed world?