In Part 1, I shared some insights into how best to ensure projects stay on track amid change from outside of our control. If you haven’t had time to check out, please do… In this Executive Briefing, I will discuss how even the best laid plans can get blindsided. In a conversation with an industry veteran and longtime Western executive for a major Korean Group, we were concerned that a new global hire may be a poor fit.
In particular, in the person’s attitude--at least to being open to Korean business norms and practices as well as advice given to them on how to work within the system. My friend commented that the hire, who was very confident in their position, close-minded, and had their own way of doing things, would never see their demise in coming and be blindsided.
Stepping back, as I mentioned in the last Executive Briefing, my experience is that savvy Korean management has “eyes in the back of their head,” little gets by them, and they take much in consideration before making any decision or move. They see and sense what’s around the corner.
Still, forces can take a Korean company’s direction 180 degrees. This most often occurs as a new Administration or policymakers take office in South Korea, and with it comes new economic policy, vision, and initiatives. For example, in the past presidential administrations, we’ve seen a push for Green, Creative, and a “Hydrogen Economy.”
For each case, Korean companies have had to realign and dedicate resources. Besides these high-level government shifts, leadership succession within a Korean Group, along with changes in an industry, can also lead to programs being put on hold, terminated abruptly, modified, or even pushed to the forefront. Again, in both situations, savvy management and teams have lead time and remain ever watchful to avoid being caught off guard.
As always, each situation is different, but what remains constant is a refined approach, one I base on years of experience. Be observant. Make no assumptions. Have a countermeasure.
One final thought… In many cases, the C-suite, leadership, and teams do need direct support. I strongly encourage you to reach out to me, even if just for a neutral opinion. It’s also best to engage early, rather than wait until issues escalate or go sideways. Waiting rarely improves things.
About Don Southerton
Don is a long-time C-suite advisor providing strategy, consulting, and mentoring to Korea-based global businesses. He writes and speaks frequently on Korea and Korean business-related topics.
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