Article:

https://hbr.org/2012/05/how-to-win-in-emerging-markets-lessons-from-japan

Summary:

In the 20th century, Japanese multinationals established themselves as powerhouse exporters in developed markets. Names like Sony, Toyota, and Honda became commonplace. But in this century, growth in developed markets has slowed: Goldman Sachs forecasts that these markets will grow at an average annual rate of 2% until 2020, whereas the BRIC economies are expected to grow at an average annual rate of nearly 7%.

To prosper now, Japanese companies must win in developing marketswhich theyre failing to do. They face four key challenges: distaste for the middle and low-end segments of the market; aversion to mergers and acquisitions; reluctance to commitfinancially and organizationallyin emerging markets; and a failure to properly allocate talent.

Two Japanese multinationals stand out for their success in overcoming the challenges: Unicharm, a manufacturer of personal-care products, and Daikin, one of the worlds largest air-conditioning manufacturers. This article explains what theyve done.

Question:

What was the biggest mistake that Japan's MNCs made when entering into emerging markets and how could it have been avoided?