Glaxo's entry into the Indian marketplace was a model of far-sighted strategic thinking, says corporate strategist Homi Khusrokhan. The company's leaders told managers that they didn't expect to see major profits for a quarter-century; rather, they wanted to focus on building a respected institution. "We did, of course, have a lot more profit pressures as the years passed, but that [was the] basic sort of approach -- that India is going to take time, there is no great urgency," Khusrokhan says.

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