OREANDA-NEWS. February 1, 2012. Ernst & Young and Moscow School of Management SKOLKOVO have developed a joint project “Rough Diamonds (RDs)”. This project explores high performing enterprises in emerging markets. These firms are described as "Rough Diamonds (RDs)" because they are mostly undiscovered. “RDs” are able to outperform other enterprises in their own country over a sustained period of time.

Seung Ho “Sam” PARK, Chair Professor of Strategy, President of SKOLKOVO Institute for Emerging Market Studies (SIEMS) says: “The Rough Diamonds illustrate the fast growing competitiveness of private entrepreneurs in emerging markets. They represent the vibrancy of the private sector and the engine for sustained growth in emerging economies. This joint project between E&Y and SKOLKOVO business school illuminates important insights on the success of these leading entrepreneurial firms in BRICs. The findings provide a valuable benchmark for local and multinational companies operating in emerging markets”.

Andrei Volkov, Dean of the Moscow School of Management SKOLKOVO, says: “Today, when ex-pillars of the world economy are rapidly losing ratings and investors’ trust, such studies help us take a fresh look at the companies in the developing countries and to see the silver lining even in this cloud”.

Karl Johansson, Ernst & Young CIS Managing Partner, notes: “We believe these findings will provide insight on the understanding of winning strategies in emerging markets”.