Relationship Matters in Business

It’s not B2B, it’s P2P (People to People).

A critical piece in the missing puzzle while doing business with India or China is cultural understanding.

Relationship matters in building trust and only when there is trust will the Asians do business with Australians. Yet how often do we hear Australian business leaders say – ‘let’s cut to the chase’. Impatience can often blow a great business opportunity out of the window in seconds.

The layers of hierarchy are a ground reality in these countries. Decisions are made slowly, on both ends, with detailed thought given to long-term outcomes or impact on current relationships. Asians need time to build a relationship before they commence business. Coupled with the hierarchy of approvals, it can indeed be a very frustrating pace for the Australians embarking on an Asian strategy.

It is equally frustrating for Asians as Australians have very little appetite for risk. The tried and tested route is the best route followed by the majority of businesses. How many times have we heard of that famous expression – best practices? How do you explain best practices in the context of innovation, change and disruptive technology?

Incorporating an international strategy is a must for Australia’s survival.The Asian strategy for international collaborations and partnerships cannot be ignored anymore. Where else will we find the crucial mass for doing business but in Asia? Where else will we find scaleability for our great product ideas?

By Sheba Nandkeolyar

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