Businesses Innovating on the Edge

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In 1969, Brazil was not exactly a dominating force in the global economy, says Govindarajan. But a small aviation company called Embraer launched and eventually got the world's attention by manufacturing quality aircrafts in niche fields, such as agricultural aviation and defense planes. Today, the company is one of the world's largest aircraft manufacturers, with planes of up to 120 seats covering five continents. —Nicole Carter