More than once, actually frequently….
A firm looking to enter Korea or one doing business with a Korea-based company contacts me and inquires on best practices.
Forthcoming, I provide a roadmap.
After some deliberation, the firm decides they will initially handle the launch or project themselves… and when time is right seek out my assistance—their team quite savvy.
In my experience organizations hoping their team will adapt quickly to Korea business rarely works.
Even if the plan includes hiring Korean or Korean heritage staff, which is helpful in language issues, it has little impact on dealing with more complex issues.
In the long run not fully comprehending Korean company culture, practices, norms and expectations will be costly, not only in fiscal terms, but in poor productivity, stress and frustration.
All said, there are positive options.
Provide immersion support across your organization to all those involved in the ventures. This includes offering your home office as well as the lead teams immersion training and then mentoring /coaching.
It will produce results, and is much less costly than the consequences that can include lawsuits, employee turnover, missed goals and low productivity--not to mention mounting tensions over missing expectations.
At minimum, key management need access to high level mentoring /coaching and someone to answer their questions on topics ranging from strategy to the impact of routine management changes at their Korean partners. They also need frequent updates on Korea and the market.
Here if you want to chat…
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