To achieve global growth, pay close attention to regional client cultural requirements
Updated: Mar 16, 2020
In reaching out to global growth, companies need to pay close attention to the specificity of regional client cultural requirements. Different regional experiences, different economic development processes as well as growth potential.
For example, Asia’s emerging economies and rapid growth markets have challenged even the most sophisticated MNCs to take radical action by reshaping their business models to tap the region’s high-growth markets. Global companies face multiple challenges in these markets, ranging from intense competition from low-cost local players to customers with minimal brand loyalties and diverse preferences to fragmented distribution channels. Even the savviest global companies must change their management practices from large operations to leaner ones, from centralized administration structures to regionally metrics collaboration. Asia’s high-growth markets demand a unique approach that requires global companies to “think regionally, act locally.”