In the recent case study, I mentioned K-lobalization. To many, this was a new concept. In reality K-lobalization was something I coined in 2008. I’d add to a video’s content, which I recorded in March 2008 on the topic (but still very relevant).
In particular we find Korean companies in 2015 are better defining
their strategy globally. This means they are instituting a bolder standardized
approach to marketing, branding and operations.
In the past they have taken a more fragmented approach, with lots of
variations from region to region.
Please take a few minutes and review the video from 2008…
Oh, one more thing. As an additional resource, here’s
an excerpt from
Korea
Facing, Secrets for Success in Korean Global Business
By Donald G. Southerton, 2013
Chapter 1 K-lobalization (Globalization with
a K for Korea)
When
I began supporting overseas non-Korean management teams for Korean companies, I
often heard staff looking for a time when Koreans would fully embrace local
western business norms, step aside in key decisions, and let the westerners
“run things.” Why?
The
overseas branches of Korean companies commonly have a CEO who is a Korean expat
managing the company or region with local support. The CFO and technical
support can be expats, too. Most often these Korean expats form the core for
business operations in the host country. By the way, the expats below senior
management are often called “coordinators” in the West. However, the Korean
term is ju jae won.
In
the larger overseas subsidiaries, Korean expats are assigned to the major
departments, including sales, marketing, HR, and product development, along
with engineering, and design divisions. In many, if not most, cases these
expats are not assigned manager roles but operate as a “shadow management” with
considerable oversight of local operations. For westerners unfamiliar with the
Korean model, this “oversight” usually translates into the Korean expats
requiring sign off on all decisions—trivial to substantial. This can be a huge
challenge when newly assigned expats have little specific background in or
knowledge of the host country’s operations and market. Cognitively, they
recognize localization is needed but, especially if under pressure to perform,
may defer to their Korean company procedures and cultural norms. In other
cases, Korean firms have also initially resisted local management guidance and
followed what they felt would be the best approach. Sadly, they performed
poorly and eventually yielded to the local teams.
Times
do change. Recently, and unlike a decade or so ago, many Korean teams and
management have become increasingly global savvy. More significantly, following
the global recession of 2009-10 when many international firms experienced
setbacks, Samsung, Hyundai Motor Group and LG soared and as a result some
Koreans see their model as superior to rival western brands.
I call this
K-lobalization—when Korean firms boldly promote their own unique management
style and corporate culture internationally and across many markets.
Book Available on Amazon at:
I look forward to your questions and comments
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