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PRHPS (Green) - Highlights Brochure - Summer 2018

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    Distributor: Penguin Random House Availability: Available On Sale Date: Aug 14, 2018 Carton Quantity: 48
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Trust
Creating the Foundation for Entrepreneurship in Developing Countries
By (author): Tarun Khanna
9781523094837 Paperback, Trade English General Trade BUSINESS & ECONOMICS / Development / Economic Development Aug 14, 2018
$28.95 CAD
Active 6.06 x 9 x 0.55 in 200 pages Berrett-Koehler Publishers
Entrepreneurs in developing countries who assume they will have the same legal, governmental, and institutional protections as their counterparts in the West will fail. To succeed, they need to build trust within the existing structures—and this book shows how it’s done.

Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries, the developed world has built customs and institutions such as enforceable contracts, an impartial legal system, and credible regulatory bodies—and even unofficial but respected sources of information such as Yelp and Consumer Reports—that have created a high level of what scholar and entrepreneur Tarun Khanna calls “ambient trust.”

This is not the case in the developing world. But Khanna shows that rather than become casualties of mistrust, smart entrepreneurs can adopt the mindset that, like it or not, it’s up to them to weave their own independent web of trust—with their employees, their partners, their clients, their customers, and society as a whole. This can be challenging, and it requires innovative approaches in places where the level of societal mistrust is so high that an official certification of quality simply arouses suspicion—and lowers sales! Using vivid examples from Brazil, China, India, Mexico, and elsewhere, Khanna’s stories show how entrepreneurs can build on existing customs and practices instead of trying to push against them. He highlights the role new technologies can play (but cautions that these are not panaceas) and explains how entrepreneurs can find dependable partners in national and local governments to create impact at scale.

As far back as the 18th century, Adam Smith recognized trust as what Khanna calls “the hidden engine of economic progress.” “Frankness and openness conciliate confidence,” Smith wrote. “We trust the man who seems willing to trust us.” That kind of confidence is critical to entrepreneurial success, but in the developing world entrepreneurs have to establish it through their own efforts. As Khanna puts it, “The entrepreneur must not just create, she must create the conditions to create.”

Tarun Khanna is the Jorge Paulo Lemann Professor at the Harvard Business School. In 2007, he was named Young Global Leader (under 40) by the World Economic Forum, and in 2009, he was elected as a Fellow of the Academy of International Business. In 2015, he was named Chairman of the Indian government’s commission on Entrepreneurship and Innovation. In 2016, the Academy of Management conferred on him its Eminent Scholar Lifetime achievement award for scholarship in International Management. He serves on numerous for-profit and not-for-profit boards in the US and India. Recently, he co-founded Axilor, a vibrant incubator in Bangalore.

Author Residence: Newton, MA

Author Hometown: Newton, MA

Marketing: Sales at author speaking events (has spoken at events hosted by The Economist, Financial Times, WSJ, Google, Microsoft, World Economic Forum, etc.)

Outreach to former students a la Deepak Malhotra

Media outreach to business outlets, particularly those with an international focus

Work closely with Harvard publicity department

Launch at the Academy of Management

Textbook outreach to international development/entrepreneurship courses

Work closely with PRHPS international sales staff- among other connections, Tarun is an advisor on entrepreneurship to the government of India



Publicity: Promotion at author speaking events (has spoken at events hosted by The Economist, Financial Times, Wall Street Journal, Google, Microsoft, and World Economic Forum)

National media campaign to business media outlets, particularly those with an international focus, in conjunction with Harvard’s communications department

Launch at the Academy of Management Conference in August 2018

Promotion to professors for textbook adoptions in international development/entrepreneurship courses



Feature Website: www.tarunkhanna.org/wp/

Author Website: http://www.hbs.edu/faculty/Pages/profile.aspx?facId=6491

Author Social Media: www.linkedin.com/in/billionsofentrepreneurs/

“In these days, when the buzzwords around business are new technologies, disruption, AI to have advantageous information, substitution of the incumbents, et cetera, it is pleasing to have someone of Professor Tarun Khanna’s stature writing about trust. It made me reflect on my own career with partners based on hiring exceptional people, developing partnerships that worked, avoiding wasteful litigation, and basically moving forward with minimum legal hassle. Trust was probably more important in our progress than the businesses we chose to invest in. It is good that Professor Khanna has called my attention and hopefully that of others to this so important aspect of doing business.”
Jorge Paulo Lemann, Co-founder, 3GCapital, Brazil

“Trust is fundamental to entrepreneurship. Those who generate and, more importantly, retain trust prosper; those who do not eventually become a flash in the pan. Young, first-time entrepreneurs will immensely benefit from Tarun Khanna’s anecdotal book on how to earn trust and respect for one’s pursuit.”
Ratan Tata, Chairman, Tata Trusts, former Chairman, Tata Group, India

“Khanna’s Trust is a refreshing and brilliant view of how individuals and entrepreneurs can build lasting relationships, create more positive conditions in society, and reach past the difficulties of deeply entrenched systems of mistrust. A wonderful companion to Billions of Entrepreneurs.”
Andrónico Luksic Craig, Chairman, Luksic Group, Chile

Trust deals with entrepreneurs across the developing world, where creativity is sorely needed. Khanna weaves together stories of conventional and social enterprises in the private sector and in government. He recognizes the enormous promise of technology—but to be used wisely. A highly readable and must-read narrative!”
Nandan Nilekani, cofounder of Infosys Technologies and Founding Chairman, Unique Identification Authority of India (Aadhaar)

“As the leader of a business predicated on family values, I understand the value of trust. Khanna shows that, even outside the familiar setting of a family, entrepreneurs prioritizing trust not only advance their own ventures but contribute dramatically to economic and social development.”
Suh Kyung Bae, Chairman, Amore Pacific, South Korea

“I cannot agree more with Tarun Khanna on the vital element of trust on scaling up an idea originally invented in the developing world—trust with regard to the competence of the product and the character and the care of the founders.”
Po Chung, Co-founder, DHL International

“Trust is central to any enterprise, and this is especially true across countries in Latin America and the developing world, as Khanna suggests it must be. We work hard to build and maintain it with our customers, employees, bankers, suppliers, investors, and public authorities. Trust is by far more important than simply counting on the rule of law or our institutions. It is the vital underpinning of our growth and prosperity through thick and thin.”
Woods Staton, Chairman, Arcos Dorado, Mexico

“Khanna studies the core of the matter for entrepreneurship in emerging markets. Entrepreneurs in such markets face a ‘friction-full’ environment. As a friend of mine says, ‘We live in a market economy with soviet scaffolding’ and because of this everything needs to be negotiated—nothing happens by itself. And why does this happen? The answer is lack of trust!”
Álvaro Rodríguez Arregui, cofounder and Managing Partner, IGNIA, Mexico

"Challenges abound across the developing world, and it’s up to us to address them, and not wait for the government, or for charity. My experiences as an entrepreneur across Africa make me appreciate Khanna’s focus on weaving a web of TRUST to get everyone focused, very practically, on how ventures get built, and how they scale across large populations. I hope young people everywhere are inspired by this book’s ‘can-do’ spirit.”
—Mo Ibrahim, Founder, Celtel International, Founder and Chair of the Mo Ibrahim Foundation, Africa

“Khanna’s book is right on target in spotlighting the supreme importance of
trust, not just in private entrepreneurship, but in all connections between en- trepreneurs and government, civil society, and people. As Khanna’s examples compellingly demonstrate, building and maintaining healthy levels of trust is crucial for human progress.”
—Muhammad Ali Pate, former Minister of State for Health, Nigeria

“Khanna skillfully and convincingly argues that trust is a core part of the enabling environment that civil society and the state must foster to enable enterprising individuals to help themselves. I would recommend it to all interested in private sector development.”
—Emmanuel Jimenez, Executive Director, International Initiative for Impact Evaluation(3ie), India

“Professor Tarun Khanna writes most engagingly on entrepreneurs and the creation of enterprises in developing countries. Applying the principles drawn out by Professor Khanna, though challenging, will lead not only to greater success for entrepreneurs but also help to build the trust ecosystems in their societies.”
—Sir Fazle Hasan Abed, Founder and Chairperson, BRAC, Bangladesh

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