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The ABC of doing business in Asia

Zafar Anjum | May 14, 2014
To be an Asia Business Champion (ABC) in a turbulent business environment, companies need to have the right sets of business and financial strategies in place, says Nathan Bell, Director of Marketing, Product, and Pricing, Telstra Global.

Another key takeaway for Asian and international MNCs operating in the region is the understanding that Asia, as a whole, is a widely heterogeneous region - each market is at a different stage of development, which means having a standard system of procedure for all markets in Asia will not yield much in terms of returns. MNCs need to set realistic expectations on financial returns. Often, decision makers based in headquarters outside Asia fail to understand the complexity of navigating a region as competitive and as dynamic as Asia - hence if the financial returns do not show within the first couple of years in specific markets, they are deemed to be failed investments. This prevents organisations from realising the true potential of individual Asian markets and the benefits they bring to the business.

 What new technologies do you see in the horizon that will be game-changers in your industry? 

One of the game-changers in this industry will be the evolution of the cloud technology. Over the past year, cloud providers have increasingly discovered their individual and unique cloud plays - whether it's supplying to specific industries or private, public, or hybrid platforms - and have expanded their services accordingly. Innovation in the cloud will be high as businesses will develop their own applications designed to address specific business goals. In fact cloud is rapidly moving away from being a service and becoming a platform, am enabler to a suite of services ranging from CRM's (Customer Relationship Management), Billing Systems, Network Management, and through to Delivery processes. As such, businesses will continue to gain access to solutions which offer greater elasticity something which is highly valuable in a dynamic market like Asia.

Closely related to cloud technology is the rise of data mining and analytics. New methods and tools are becoming fast available for companies to tap into the ever-growing data stream and draw relevant and useful datasets. These datasets will be game-changers because they will provide companies with specific insights such as consumer behaviour patterns, for example, which in turn will help to shape business goals and strategies. Being able to predict how the market or customers will react, combined with the elastic levers offered through cloud enabled services and applications means that businesses will be well placed to become the Asia Business Champions of the future.

 

 

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