What is the critical missing piece in the puzzle while doing business with India or China?
The answer is cultural understanding.
Relationships matter in building trust, and only when there is trust will Asians do business with Australians. Yet how often do we hear Australian business leaders say, “Let’s cut to the chase and get to the point.” Impatience can often blow a great business opportunity out of the window in seconds. Layers of hierarchy are a ground reality in these countries.
While the term Little Red Book in China may previously have brought Chairman Mao’s book of the same name to mind, today’s Chinese may associate it with something altogether different.
Little Red Book – the go-to online retailer for overseas luxury goods
Little Red Book – Xiao Hong Shu in Chinese – is an app that has attracted over 17 million consumers and $200 million in annual merchandise sales in just 3 years. Things don’t look to be slowing down, with the company recently having raised $120 million from major investors such as TenCent and ZhenFund.
This weekend, I spent a day at Sydney’s iconic Blue Mountains with an old friend. The changing colours of the autumn leaves drew us there, and the reds and yellows were truly beautiful. I was busily snapping pictures on my phone and posting the beautiful scenes on WeChat, and receiving lovely comments and likes instantly from my friends all over the world. The weather was beautiful, the air was crisp, and it was a very memorable day.
As we filled our hands with fallen leaves and pine cones, we felt lucky that we had visited at the right time to experience the beauty above us, around us, and under our feet.
It was a packed house this morning at Doltone House, Sydney for the ‘Diversity Delivers’ IAA Thought Leadership Breakfast Forum hosted by Mumbrella, where leading diversity/ industry experts were in agreement for the incontestable business case for diversity. Ipsos Australia research indicates that organisations with ethnic and gender diversity at senior levels are financially outperforming their competitors – this is sometimes referred to as ‘The Diversity Dividend’.
During the lively and fascinating panel discussion, which touched on ‘how leading brands are leveraging diversity to deliver better ROI, improved creative outcomes and meaningful insights’, MultiConnexions Director of Strategy and Insights, Kaiyu Li highlighted a phenomenon he called, ‘visiting auntie syndrome’.
A slow grin spread across my face this afternoon when leading Australian marketing trade publication B&T’s newsletter hit my inbox, and I read the blurb attached to an article titled: Four’ N Twenty Campaigns To Save our Slang.
“Hunt is on to find top Aussie slang,” read the blurb. “We’d like to nominate ‘merci beaucoup’ and 这些馅饼是可怕的,” quipped B&T’s editor.
The French phrase ‘thank you very much’ and the Chinese phrase ‘this pie is awful’ above were obvious nods to Australia’s truly remarkable multiculturalism.