But speak to entrepreneurs in China and India, and you'll soon hear that they think about strategy in a strikingly different way. For instance, these leaders have recognized that traditional return-on-investment calculations are not very relevant. This is because all the value sits in the terminal value of the company - given the massive growth. They believe that when growth is this dynamic you need to be faster, more creative and more willing to learn as you go. For them, value creation derives from confidence and comfort with ambiguity, backed up by investment, talent, and fast cycles - and not from pre-programmed business plans and projections to two decimal places.
Ambitious, audacious, adaptive, aggressive when necessary - these business leaders have what we call the accelerator mindset.
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