Indian companies are clueless about local cultures and the social mores that prevail in their associates, joint ventures and subsidiaries abroad.
Like our ancestors we are now crossing the seven seas and establishing outposts in foreign lands. Indian companies are going global as never before! The excitement and can-do attitude of the corporates is palpable. Strategies, business plans, budgets, travel schedules and manpower in Indian companies are increasingly international. Boundaries are being erased not just on maps but in minds.
Key asset ignored
Many companies are however unaware of the cultural nuances involved in global business. Most of the time the acquisition programme is confined to “hard” business due-diligence. The information processing about a new business possibility is restricted to number crunching, contingency planning and future opportunities. The assets most central to the entire opportunity, people and personal networks, are entirely ignored!
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