Focus: Dos and don’ts of entering emerging markets
Putting down stakes
Many multinational companies are eyeing the fast-growing economies of Brazil, China, India, and others to fuel revenue growth for years to come. The opportunities are significant – and so are the challenges.
Some companies are effectively tapping into these markets by customizing strategies to meet each country’s specific demands. It’s not just about establishing local operations, but also understanding the regulatory and cultural nuances and risks within a country or region. Other companies are having a much tougher time. Some cite an inability to provide affordable products and services for price-sensitive customers. Others say local competition, lack of brand awareness, and government bureaucracy are causing them major headaches.
Asia’s Endangered Species: The Expat
Western companies doing business in Asia are now looking to locals to fill the most important jobs in the region.
If the Expat is becoming Asia’s endangered species what will become of our talent pipelines? Stepping into a middle or senior management role in the Asia Pacific region could be seen as a rite of passage into an executive management role back on home soil and talent pipelines were often set up to accommodate this. Talented Leaders looking to advance their career and personal development by working as an expat for a period of time secure in the knowledge that this experience would be valued and provide open doors upon returning to Australia.
What opportunities and development steps need to be put in place for those Expat Leaders returning home?
What investment now needs to be made in the Asia Pacific region to develop and grow the Leadership skillset and develop skills that align to the business and local knowledge of this new breed of leaders? What will your organisation do to close this gap?
Critical to the ongoing success of your talent pipeline will be identifying new opportunities for the Leaders who already ‘have their bags packed for an overseas post’. What will you need to put in place for these members of your team to keep them engaged and develop their skills and knowledge further?
These tools may help make things easier for you. Here is a list of 74 open source iOS applications for you reference.
These tools are a great reference tool for you to use both at work and home!