Despite the obstacles and mixed results to date, 90 percent of ASEAN companies are still committed to continuing their international growth initiatives.
"Companies based in ASEAN today have tremendous opportunities ahead of them and enjoy advantages such as dynamic and fast-growing domestic markets and government support," said Gosling. "However, they are discovering that they can't simply repeat the strategies of the first wave of Asian globalisers. Instead, they must forge new paths and that will mean new steps such as moving up the value chain, ensuring their brands are strong in target markets, forming an intimate understanding of customers and creating new operating and technology platforms relevant for today's marketplace."
Moving forward, to reap the fruits of success, Accenture believes ASEAN companies must focus on four key points:
1. Being clear about their purpose for expansion to prevent conflicting strategies; then ensuring resources and capabilities are aligned to those corporate objectives.
2. Differentiating offerings in overseas markets based on deep understanding of customers and localised marketing and product development activities. Both social media and data analysis tools play an important role for success.
3. Building efficient and flexible operations with a focus on scalability and the ability to react to dynamic and volatile environments.
4. Putting in place the talent, leadership and cultures for global growth, which may involve role rotations, offshore placements, cross-cultural training and enhanced internal communications.
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