How to get Asia-savvy
Want to break into an Asian market? New Zealand businesses need to think big but start small and get “Asian-savvy”, an expert in Asian business networks says. And that will take a shift in mind-set among some of our businesses as well as serious investment in upskilling. Professor Natasha Hamilton-Hart, the new director of the New Zealand Asia Institute, says New Zealand is “behind the curve” in developing a workforce with the skills and knowledge needed to succeed in Asian markets. “We’ve increased sales to the region, but we can’t rely on the low-hanging fruit to grow in the longer term,” she says. She says the $34.5 million government funding announced in June to set up new Centres of Asia-Pacific Excellence is welcome but overdue. “Australia is way ahead educating for Asia engagement, and even Singapore – which is squarely in and of the region – has recognised since the 1980s that it needs to actively develop the skills and mind-sets for expanding in the region. It won’t happen automatically.” Professor Hamilton-Hart has previously held positions at the National University of Singapore and the Australian National University. She introduced the Asia Savvy Conference at the University of Auckland Business School on Saturday 27 August. The conference, in its sixth year, is student-driven and supported by the institute. Speakers shared their experiences of doing business in Asia, emerging market trends and opportunities for New Zealand entrepreneurs. Being Asia-savvy not only helps entering a market, it means you’re less likely to be blindsided by predictable events, Professor Hamilton-Hart says. Her advice to businesses wanting to take on an Asian market: Really get to grips with your market. Beyond standard market research, businesses need to understand the wider culture and politics at play. Share stories of failure as well success. “There could be […]
