By David James
Page 2 of 2
Asia-Pacific
business survival
in the coming months
With many Asian countries now on insecure economic footing, the next few years will be a crucial test for international business in the Asia-Pacific region. How can ordinary international businesspeople like you and me get through this period with a minimum of grief? Here are a few suggestions for Asia-Pacific business survival in the coming months:
- Tighten your business belts
and focus on meeting short term business goals. Cut the fat and
postpone expansion projects until the smoke clears.
- Be prepared to adjust contractual
commitments to relieve pressures on one or more parties to a contract.
The relationship is more important than the contract.
- Be sensitive to
nationalistic feelings on the part of business counterparts from
countries under economic pressure. National pride is especially strong
in Asian countries.
- Be on guard against
misunderstandings based on cultural differences. Test your assumptions
from your counterpart's perspective.
- Put a positive spin on your
business discussions. Avoid comments or suggestions that might cause
an Asian counterpart to lose face.
- Look for ways to solve business problems that will make everyone look good.
The power of the international marketplace is enormous. Governments are the dominant players in maintaining economic systems that sustain a vibrant marketplace. Yet international business itself is the basic ingredient of global economic health.
It is the dynamism of Asia-Pacific business, founded on positive relationships, that will play the key role in solving the region's current economic problems.
First posted in December 1997, at the beginning of the Asian Financial Crisis.
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