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Archive for the ‘Emerging markets’ Category

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.

Via www.deloitte.com

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Companies should avoid simply imposing global business models and practices on the local market.

Via www.mckinseyquarterly.com

Expansion into Asia is a hot topic at the moment with many multinational organisations looking at how to do this successfully. This McKinsey quarterly report is a must read for any Business Exec who is looking to adopt a globalisation strategy with a focus on India.

Key considerations include determining the commitment that your organisation will invest in India:

  • How will you build and develop local talent?
  • What is your commitment to a local strategy?
  • Will you implement a tailored leadership program with the opportunity for Global rotations for strong performers?

This research provides examples of how Indian consumers demand sophisticated products and services found in the west but at a lower price, customised to the local market. This is an interesting consideration for your products. Does your development approach need to be adapted to meet the local needs to ensure alignment to a local strategy?

Adapting to the Indian consumer’s demand for innovative, low-cost delivery systems and high value for money products as well as identifying and implementing an appropriate ownership model will support success in winning in India.

Strategic partnering is a great resource for expanding successfully in India. Identifying key partners to support at a local level for development, manufacturing and logistics can reduce costs and provide an effective avenue to build relationships and credibility in this environment.

Contact The Learning Factor now to discuss partnering with our Indian team to grow and tailor your Leadership programs to support local level talent and build your bench strength today.

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Via Scoop.itConnected Intelligence

Recently CEO Erich Joachimsthaler spoke with Harvard Business Review editor Angelia Herrin and Innosight’s Scott Anthony and P&G’s Bruce Brown in a Singapore Sessions webinar.   The group discussed “What is the right entry point for emerging markets: targeting customers at the bottom or the middle of the pyramid?”   In the webinar, the participants talk about where to enter in the pyramid and even how to define “middle class” in emerging markets.
Via stream.krm.com

One of the key messages that makes me really think about the right entry point in this video is to look at the stresses it will place on your organisations and respond appropriately?

Some other key considerations to ponder are:

  • It’s not just the product, it’s the business model
  • Don’t just look to have local distribution but local developers as well
  • Growth alone is not important…
  • Note that these consumers are not gullible, they are very discerning and sophisticated consumers.

Finally, what is the marketing strategy that our business will use? Is it tailored for the appropriate audience in an emerging market, does it have the correct message?

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Via Scoop.itLife in the Sharing Economy

TED Talks Yang Lan, a journalist and entrepreneur who’s been called “the Oprah of China,” offers insight into the next generation of young Chinese citizens — urban, connected (via microblogs) and alert to injustice.
Via www.ted.com

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Via Scoop.itConnected Intelligence

Managing across highly divergent and fast-moving markets requires a laser-like focus on execution and operational excellence. Companies must develop highly flexible business models that enable them to respond to new opportunities and threats.
Via www.ey.com

This report really provides a lot of insight into new strategies for growth because the world is indeed bumpy! Looking at the graphed scores for globalisation over the coming years only goes to show how quickly new strategies will need to be implemented.

Best summarised in this table taken from the report:

Challenge  Response
Succeeding in rapid growth markets is harder than it used to be Think like a start-up
One size does not fit all markets Adapt your approach to new operational complexities
Policy has become more important and less predictable Build a strategy for connecting with governments
Good people are hard to find Embrace bold approaches to talent management

What is your laser-like focus like? Are you looking at execution and operational excellence? Does your business model enable you to respond to new opportunities and threats with the speed and diversity to be successful?

Developing your talent pipeline is critical in ensuring you thrive in constantly changing conditions. Ask us how we can support you in building the skills and capabilities of your team tomorrow? We can help you navigate the world’s bumps easily and effectively.

 

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High Performance BPO…Why do only 20% of companies extract business benefit from BPO: new Accenture research reveals all
Via www.accenture.com

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This graph shows how long people live and how much money they earn. Click the play button to see how countries have developed since 1800.
Via www.gapminder.org

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