Faced with the need to educate themselves quickly about a foreign market, companies employ a variety of approaches to learning. New research offers insights into choosing the best approach for your circumstances.
Learning may be the single greatest challenge when entering offshore markets. Few, if any, employees have in-depth knowledge of markets other than the one where they live. Faced with the need to learn quickly about a foreign market, many companies employ a variety of approaches, in a variety of sequences. New research offers insights into choosing the best approach to learning about international markets for your circumstances.
1 Comment On: Learning How to Grow Globally
Excellent, insightful article. Yes, executives need to diversify in a number of areas as you note. One additional way would be to engage seemingly unrelated fields of knowledge.
Soloing and seeding are good metaphors here. Musical person that I am, I wish the terms were more closely aligned. That said, it seems to me that soling and seeding should be related thematically; seen as parts of the same effort with different articulations. Companies want/need both immediate success and long-term gains.
Also, diversifying the conversation beyond discourse with other companies (like-minded professionally) is instructive. Learning from disparate fields, cross pollination of ideas (to go back to seeding) can create hybrid seeds that are resilient — better able to handle shifts in the (financial) environment such as wind gusts (wild market swings), tsunamis (depressions and recessions), etc. Some are doing this now — Jazz (and Hip Hop) as a model for business development and strategy is rooted (seeding again) in culture and so is a model/template for both immediate and long term success.
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