WINNING CLIENTSGLOBALLY

Renee Davis-Malott

19th of November, 2012

GOING GLOBAL

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GOING GLOBAL

What does it mean to be “global?”

One definition of Global Expansion: — The planned expansion of a company's business activities

into countries in several regions throughout the world. Global expansion implies more than just making investments in nations outside of the company's home; the concept includes maintaining an actual business presence in those countries.

Cyber-sales Geography Products Clients Operations Marketing

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GLOBAL STRATEGY

Looking for the answers VS Asking the right questions

How do we sell this product overseas ?VS

Will this product be profitable in that market ?

Challenge your assumptions Our product will sell in that market ! We know the market boundaries !

— Geographically— Demographically

We know the barriers to entry !— Cultural— Legal & Regulatory— Competitive

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GLOBAL STRATEGY

Asking the right questions (recursive) What competitive advantage will this

market offer?— Economies of scale— Advantage from cheap local

resources: labor, raw materials— Extend a product life cycle— Operational efficiency:

production/delivery costs, exchange rates

— Risk mitigation: diversification, market cycle

What competitive pressures are in the market?— Similar product/service— Price elasticity— Regulation

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GLOBAL STRATEGY

Asking the right questions (recursive)

What defines the market boundaries?— Geography

Depends on product or service— Demography

Depends on local culture/taste/customs

— All of Asia? or regions within Asia? or country bounds?

What cultural issues will impact the market?— Local knowledge is key— Asking simple questions— Understanding the customer

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GLOBAL STRATEGY

Asking the right questions (recursive) How do you face the customer?

— Cultural requirements Local visibility Local connectivity

— Bricks and mortar or social media or 3rd party retailer, etc

Constraints to growth?— General local environment

and stance toward foreign products

— Local Regulation— Logistics of delivery— Ability to be flexible and

nimble— Local labor pool— Availability of capital

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GLOBAL STRATEGY

GLOBAL STRATEGY

Formulating the Strategy

Establish standard processes that can be leveraged

Connection / Collaboration

Communication

Virtual Teamwork / High Performing Team

Knowledge Management

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CONNECTING AND COLLABERATING

People need to be supported in their desire to:

—Collaborate

—Participate

—Engage

People want to be connected

Connecting and Collaborating

If Facebook were a country, it would be the fourth most populous in the world

870+ Million active users More than 70 languages actively used

Did You Know…

LinkedIn has 150+ Million professionals

Took radio 35 years to reach 50 million listeners and TV 13 years

Fastest growing markets: Brazil, Mexico, India and France

More than 1.5 billion people use the Internet on a regular basis

78% of consumers 18-24 are regular users of social networking sites

Did You Know ?…

Meeting Expectations in the Digital World

Clients—Expect you to be great at

connecting with them and connecting information,knowledge and people withinyour firm

Employees—Best and brightest want to

work at forward-thinking, groundbreaking firms

—Want to work collaboratively

GLOBAL STRATEGY

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Merriam-Webster Definitions

Anticipation: 3. “The visualization of a future event or state.”

Innovation: 2. “A new idea, method or device.”

+ Firms expanding globally must find a way to employ anticipation and innovation to achieve competitive advantage.

GLOBAL STRATEGY

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Global firms must anticipate many things:

Client needs Technological advances Local business trends Exchange rate risks Local regulatory action Shifting markets Competitive pressures Cultural tendencies Geo-political stability

GLOBAL STRATEGY

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Firms that encourage and employ innovation are far more successful in anticipating opportunities.

Innovation can be applied across all functions and disciplines to improve efficiency:

Technology Processes / Work flows Knowledge management Data management Resource management

GLOBAL STRATEGY

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“The innovation point is the pivotal moment when talented and motivated people seek the opportunity to act on their ideas and dreams.”

W. Arthur Porter

How can firms find themselves at the innovation point ? Make innovation a core part

of the firm’s culture Encourage and recognize

innovative contributions

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KNOWLEDGE MANAGEMENT

Knowledge Management is a process to embrace knowledge as a strategic asset to drive sustainable business advantage and promote a "one firm” approach which identifies, captures, evaluates, enhances and shares a firm’s intellectual capital.

Focused on improving business performance.

A long-term, continuing initiative.

A system focused on people, processes and procedures.

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The One Who Controls The Most Knowledge ……Wins!

GLOBAL STRATEGY

Executing the Strategy

Organizational Structure— Must support the strategy

Enable resource effectiveness Open lines of communication Culturally sensitive

internally/externally— Must be flexible

Leveraging Assets— Technology— Knowledge— Talent— Products— Management

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GLOBAL STRATEGY

Executing the Strategy

Measuring success— Separate into clearly definable markets— Produce clear definable goals— Ensure consistency with overall corporate vision— Create culturally sensitive metrics— Produce benchmark timeline

Refining the Strategy— Question the initial assumptions again— Analyze benchmark success and failure— Reassess goals and timelines— Review organizational structure’s effectiveness— Analyze resource level effectiveness

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WINNING CLIENTS GLOBALLY