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Asia with its fast economic development is becoming a favorite and potential investment destination of many entrepreneurs and institutions
While global economic powers China, Japan, India, and South Korea continue powering through, some countries like Indonesia, Malaysia, Philippines, Thailand, Vietnam and Sri Lanka have entered the path to long-term and stable growth.
Their charming culture and people may hold you back for an idea of expanding or starting up your business. What do you need to know and prepare?
1. Culture differences.
Undoubtedly, every country has their own an interesting culture and which sometimes really strange to others. However, taking time to discover a culture where you want to do business is necessary. You can find a common model for local customers, potential partners. Don’t try to change them, but change your company to suit them.
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Another mistake that some foreign companies could suffer is they treat all Asia as one country "We’ll do business the same way in Indonesia as we do it in Japan or China." If that thought has ever come to your mind or that’s what you’re doing now: fail to respect the cultural differences of each country, sadly to say sooner or later you will end up paying the price.
2. Local employees who understand the language
English is the second language in many Asia countries, but it is still an obstacle when you consider to start up in here. Planning on hiring some staffs who could easily communicate with you and local customers as well as deeply understand the culture will boost your successful rate.
Apple Launches New Program to Encourage Employees to Volunteer in Local Communities
3. Showing your commitment
Expressing a strong commitment to long-term relationships with your business partner whether in prosperous or difficult duration is a key element to success.
Most Asia people have a strong sense of loyalty to people and to communities, which creates a good company image and builds the trust and confidence with your customers.
China is a striking illustration, trust lies at the core of all relationships and it is critical given guanxi is regarded as the key to unlocking profitable and highly productive business dealings
Source: Tips for the successful business in Asia
While global economic powers China, Japan, India, and South Korea continue powering through, some countries like Indonesia, Malaysia, Philippines, Thailand, Vietnam and Sri Lanka have entered the path to long-term and stable growth.
Their charming culture and people may hold you back for an idea of expanding or starting up your business. What do you need to know and prepare?
1. Culture differences.
Undoubtedly, every country has their own an interesting culture and which sometimes really strange to others. However, taking time to discover a culture where you want to do business is necessary. You can find a common model for local customers, potential partners. Don’t try to change them, but change your company to suit them.
<link outdate - home link added>
Another mistake that some foreign companies could suffer is they treat all Asia as one country "We’ll do business the same way in Indonesia as we do it in Japan or China." If that thought has ever come to your mind or that’s what you’re doing now: fail to respect the cultural differences of each country, sadly to say sooner or later you will end up paying the price.
2. Local employees who understand the language
English is the second language in many Asia countries, but it is still an obstacle when you consider to start up in here. Planning on hiring some staffs who could easily communicate with you and local customers as well as deeply understand the culture will boost your successful rate.
Apple Launches New Program to Encourage Employees to Volunteer in Local Communities
3. Showing your commitment
Expressing a strong commitment to long-term relationships with your business partner whether in prosperous or difficult duration is a key element to success.
Most Asia people have a strong sense of loyalty to people and to communities, which creates a good company image and builds the trust and confidence with your customers.
China is a striking illustration, trust lies at the core of all relationships and it is critical given guanxi is regarded as the key to unlocking profitable and highly productive business dealings
Source: Tips for the successful business in Asia
Hello Ms. Thu Ngo, What are the skills that are available in Vietnam and what are the costs per resource per month. We are trying to see if there can be some synergy
Hello Mr. Fred,
Vietnamese workers are famous for hard-working, they are also intelligent in learning the new things. The cost per labor depends in the different positions but in general it's cheaper than many countries. If you have any questions or inquiries, please contact me through one of these ways.
Thanks
Vietnamese workers are famous for hard-working, they are also intelligent in learning the new things. The cost per labor depends in the different positions but in general it's cheaper than many countries. If you have any questions or inquiries, please contact me through one of these ways.
Thanks
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#Listed In: local employees start up business partner cultural differences Country-Vietnam City-Vietnam-Hanoi
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