I’ve just begun compiling feedback from the new case study. Contributions from readers, like you, show highly engagement in the study as well as many dealing with some common issues.
One that surfaced was although they have achieved much success Korean brands in their overseas operation need to adopt MORE to local norms including accepting failure and missteps. If not, and as a consequence growth will stall and be unsustainable--something of recent concern that we see occurring globally amid strong competition by rivals and changing markets.
To paraphrase one well thought out response that nailed it dead center with this profound statement. With regard to their local Korean business operations “[a] company needs to foster innovation rather than just be a fast follower.
Adding, “The challenge is with ‘Acceptance of mistakes’, which as you noted [ in the case study] is one of the foundations for American’s success. Culturally, failure [for Koreans] is not an option. Until they realize that it can serve as a foundation for success, they won’t be able to go much further.”
Again, in the next few episodes look for a more well thought out feedback, which I share on the case study.
Meanwhile, changing the topic slightly, but sharing as solutions…I’ve offered considerable content over the past several years in video format—first are a series of 5 concise videos, and second a more recent 2015 presentation—all captured in high resolution and quality audio. I strongly encourage you to view.
For the 1st five videos they run 2-3 minutes, and the last video about 26 minutes.
Opportunities and Challenges
Lesson in Localization
A Shift in Korean Management Styles
As always I’m happy to answer questions, please direct them to firstname.lastname@example.org
Until next time…