This paper introduces the concept of Fast-Advancing Societies (FAS) as a framework for understanding entrepreneurship in environments where institutional development lags behind rapid cultural, economic, and technological change. The study examines how entrepreneurs coordinate market formation, legitimacy, and growth in contexts characterized by institutional asynchrony. It proposes that traditional “emerging markets” frameworks inadequately capture the dynamics of fast-changing societies and introduces a revised analytical lens grounded in institutional theory and entrepreneurial strategy. Originally disseminated as an SSRN Working Paper.SSRN abstract page: https://papers.ssrn.com/abstract=6181784
Mohit Shrotriya (Thu,) studied this question.