Does your company have a strategy? Few will deny and the majority will agree to have a corporate strategy. Does your organization have a particular Asia strategy? The number of parties agreeing to have a particular Asia strategy will decrease. How about having a specific strategy for your particular product, customized to a certain region? Does the strategy also include all limiting internal and external factors like resources, competition, market and regulation? Here comes the tricky part. Company vision and values are meant for the entire organization. When it comes to strategies there are various factors which require pin-pointed adaptations. Strategies can vary from business unit to products, for different markets and stages of life cycles. Often the top limiting internal factor for growth is simply the lack of required resources. NxtAsia’s clients benefit from our solid project experience in Asia. We are able to quickly identify the key questions with regards to a customized strategy.
Typically we ask the following questions:
| • | Do you have a vision for the company and what are the single strategies and targets? |
| • | Do you have an Asia strategy – or more specifically, customized strategies for each region by products? |
| • | Do you have a board member who is dedicated to the success in Asia? |
| • | Do you understand the motivators behind regional targets? |
| • | Do you have a cost-benefit ratio definition for investments in Asia? |
| • | Do you have sufficient market data to create a strategy? |
| • | Do you know how to align the local strategy with the overall company strategy? |
| • | Do you understand the need of alignments between cross-regional and cross-functional strategies? |
| • | Do you have sufficient resources available to implement a potential strategy? |
| • | Do you take personnel changes into account as part of the overall strategy? |
| • | Do you have the right product for each market? |
| • | Do you understand the importance of the cultural aspect when designing market specific products? |
| • | Do you have rules for which topics to centralize and for which to de-centralize? |
| • | Etc. |
Many companies spend a lot of time for the strategy creation but might work less on other relevant parts. NxtAsia divides the strategy topic into three phases:
| • | Information generation |
| • | Strategy creation |
| • | Strategy execution |
The majority of the Asian markets can be described as pre-mature, dynamic and less predictable. Such market profile requires a thorough generation of valid information as well as a precise and fast strategy execution.
| • | Information generation – The absence of validated information is part of the root cause why ventures and strategies fail. Often the strategy itself, based on the available information, was logical and not bad at all. That does not help a lot, as the wrong result can be not only costly but also tragic. NxtAsia spends a significant proportion of its project resources on the identification and validation of valuable information which is partly provided by our in-house business intelligence unit. NxtAsia is one of the major company-, industry- and market data providers in the Asian market. |
| • | Strategy creation – The strength of NxtAsia lies in the fact of knowing our customer and knowing the market. It is not about creating a good strategy but about creating the right strategy for a specific client and its unique environment. |
| • | Strategy execution – It is not unusual that a mediocre strategy perfectly executed beats a better strategy with a weak execution, which shows the enormous importance of the execution part. In dynamic, premature markets there are few innovators and more fast-followers. For the majority of the Asian countries, companies are still fighting the battle for market shares. In such an environment “speed is king” and strategies have to be executed quickly and precisely. During the execution phase NxtAsia offers additional manpower to clients to overcome potential internal shortages in resources. Together we work on the best possible execution. |
Notes:
German
Chinese