Last week the Asia Pacific Summit 2011 took place in London, hosted by London Business School and presented with Telstra International, The Summit brought together a wide scope of experience and perspective "´ from the academics of London Business School to the heads of some of the world´s leading businesses.
The two day event incorporated lectures, speeches, case study presentations, panel sessions and interactive workshops all aimed at examining the many potential challenges and pitfalls of doing business in Asia Pacific, as well as key strategies to overcome them.
- Mr Rajat M. Nag, MD, Asian Development Bank, "˜Realising the Asian Century´
- Professor Andrew Scott, London Business School, "˜Strategy & Innovation for the Asia Pacific Region´
- Julian Birkinshaw, London Business School, "˜Cultural differences for management advantage´
Tarek Robbiati, Group Managing Director, Telstra International commented:
"For Telstra International, it made perfect sense for us to support this summit. Our expanded platform in the Asia Pacific region enables us to deliver services to our global customers across a wider geography and help them to leverage the opportunities that exist within this region. Businesses have to develop an Asian mindset, being aware of the local necessities and challenges and relate those to business realities in our corporations; we hope this summit has helped them to achieve this."
The summit revealed five key themes for businesses to consider when operating in the APAC region:
1. The shifting global economy: the centre of the world economy is moving east, global businesses need to shift strategies to take advantage of the opportunities this presents. In 200 years Asia will be the dominant region.
2. Diversity: Asia Pacific should not be viewed as one market, there are both developed and developing economies, so each country should be approached in a unique way depending on the maturity of the economy.
3. Managing risk: Businesses are shifting resources to APAC markets to take advantage of the opportunities for growth, but this also presents multiple challenges as businesses need to find ways to navigate the potential issues. Not every market is what it seems and businesses must thoroughly understand the markets to capitalise on those opportunities.
4. Governance and management strategy: The quality of governance is key for operating in APAC, businesses need to ensure they have transparent governance and a consistent message for all stakeholders. More importantly there has to be recognition of the required shift in management models to drive innovation, engagement and agility.
5. Adaptive policies: Global organisations must effectively adapt strategies to account for the difference between the markets, each country has its own set of complex economic, political, cultural and geographical challenges, and corporate policies must adapt to this. Also key is for the business to build from direct experience within those countries to ensure these strategies are well informed.
For more information or videos of the event please visit:
www.telstrainternational.com/asiapacificsummit
www.youtube.com/user/TelstraInternational
http://www.pitchengine.com/telstrainternational/asia-pacific-summit-2011/179793/
About Telstra International
Telstra International is a leading global supplier of managed network services and international data, voice and satellite services. It is a division of the leading Australia-based, tier 1 telecommunications and media services company, Telstra Corporation Limited and owns one of the most technologically advanced IP backbone networks in the world.
Telstra provides global telecommunications services and solutions and is an expert in bringing the advantages of customer centric managed network solutions to the business community. Together with its offshore subsidiaries and international investments, Telstra serves over 200 of the world´s top 500 companies, spanning Europe, Asia Pacific and the Americas.
Telstra operates award-winning networks which are amongst the largest and most diverse in Asia Pacific. We have operating licences and landing rights in most major Asian markets, the US and EMEA, facilitating access to over 1,400 PoPs in 230 countries and territories.