Davos Annual Meeting 2008 - Adapting to New Champions | Summary and Q&A

TL;DR

Emerging market champions discuss their strategies for success, including adapting to new markets, overcoming cultural barriers, and focusing on talent and innovation.

Key Insights

• 🌐 Emerging market champions need to be adaptable, innovative, and cost-competitive to succeed in global markets.
• 👂 Cultural barriers can be overcome through diversity, flexibility, and an ability to listen and understand local customs.
• ✋ Collaboration and high standards are essential for sustainability and growth.
• 😀 Emerging market champions often face protectionism in both international and regional markets, requiring them to be resilient and competitive.

Transcript

good afternoon ladies and gentlemen great pleasure in welcoming you to the session on adapting to new Champions we have several companies here which are champions in their own countries and uh making moves in other countries and uh let me start uh my left we have James riadi CEO of the Lipo group lipo group spans uh the Asia Pacific Rim from Indone... Read More

Questions & Answers

Q: How do companies from emerging markets overcome cultural barriers when expanding internationally?

It is important to have a diverse workforce and be flexible in order to adapt to different cultures. Listening and understanding local customs, while maintaining the company's core values, is necessary for success.

Q: How do emerging market champions ensure sustainability and growth?

These companies focus on being cost-effective, innovative, and adaptable. They also emphasize the importance of setting high standards and collaborating with established players to drive growth.

Q: Do emerging market champions face protectionism in international markets?

Yes, these companies often face protectionism both in international markets and within their own regional markets. They must navigate these challenges while maintaining their competitiveness.

Q: How do emerging market champions address the talent shortage in their countries?

Some companies have found success in empowering women and creating an inclusive work environment. They also focus on educating and upskilling their workforce to meet the demands of their growing businesses.

Summary & Key Takeaways

• The panelists, representing companies from various emerging markets, discuss their experiences of becoming champions in their respective industries.

• They highlight the importance of expanding outside of their home countries to take advantage of new growth opportunities.

• The panelists emphasize the need to be adaptable, innovative, and cost-competitive in order to succeed in global markets.

• They also discuss the challenges of culture and the importance of diversity and inclusion in building successful companies.

• The panelists stress the need for high standards and collaboration with established players to drive success in emerging markets.