GOING GLOBAL: THE ASIA PARADIGM
In 2012 and 2013, Eurasia Global (Previously known as the Eurasia Consortium) undertook two large (multi-million) consultancy projects with foreign governments where we helped develop and implement internationalization strategies for firms from Russia and Malaysia. The governments were very satisfied with the outcomes of the projects.
To support these internationalization strategies we implemented the ASIA Paradigm©. This is a step by step model we use to help develop our client’s business in target markets. The model works like this. When we meet a new client we apply a evaluate the clients business and internationalization aims using four key criteria:
ASSESS
Step one, involves a capabilities analysis and an assessment of product or service differentiation. Simply put we do this to ascertain if the organization has either the inherent or developed resources to achieve profitability and sustainability in new markets. Also we need to ascertain where the differentiation within the service or product actually lies. It does not to have to be disruptive but if it’s merely a `me too` business, then we’re more than likely to say no
STRATEGIZE
Step two, once we are convinced that the firm is ready to `go global,` we then can develop a cost effective strategy to demonstrate the route to market and, as importantly, how the strategy will be rolled out in the target market with KPIs built into the whole process.
IMPLEMENT
Step three, creating a strategy is relatively easy; executing it is far more difficult especially when the visibility of the brand in the new market is weak. Our goal is to build brand awareness and a sales pipeline thereby establishing a revenue stream within the target market in three to six-month’s time, helping to immediately offset the project’s costs
ADJUST
The final step, all strategies are emergent, what you started out with is not what you end up with. Strategy implementation involves constant and incremental adjustment to ensure both sustainability and profitability in new markets.
