Untold story of International Business Barrier

I have learned biggest lession about international business is "uniform management practice does not work when we cross the border". There are plenty of factors need to taken into account for cross border business. Dont worry here I am going to explain you how some key factor impact the sucess and what should be taken into consideration:-

1)Institutional character 

2)Physical geography
3)Educational norms

4)Language

5)Culture
6)Legal aspect

7)Other (Technology and skills)

Lets talk about other factors;

Technology: 

Often people take this matter unseriously and consider as a granted root of sucess due to experiencing sucess in some countries, and forgeting that best practice often does not work in cross boarder context, although company is using the same technology. Most often technology does not fit with local condition and its trun out that it need radical networking-not because technology is wrong but because everything surrounding the technology changes how it will work.

Analytical tools

This also does not fit with best practice. There is not nothing wrong with analytical tools but their application require careful thought. It require the ability to understand the limits of our knowledge and to adapt that knowledge to an enviroment different from the one in which it was developed. untill that failure rate of cross boarder business will remain high

Knowledge and strategy

Once empirical economist study the economies of OECD memeber countries and concluded that similar industry trended to have similar structures and deliver similar ROI. but when data from developing country available for research, researcher found that it does not work any more due to contextual changes.

This is pretty known fenominon of international business also its one of the most ingnoring fact. Universaly known international business barrier may not be your barrier due to context although its important to consider the over all local ambiance and their result on your strategic action.

In cross border business specialized intermediaries are lacking who help enterprises to adjudicates disputes, venture capitalists that lend money, accreditation agencythat corraborate claims and so on.

Contextual Intelligence is far more diverse such as intellectual property rights, aesthetic preferences, attitudes towards power, beliefs about free market and even religious differences.

Even the globaly sucessfull company had hard time in international business for example Oreo in China, Metro cash & carry in India, and failure of Ebay in China etc.

How we get  better at this?
There are plenty of way, I will try to highlight some uncommon points, ofcourse its not easy such as:-

1) Hiring  people fluent in more than one culture
2) Partnering with local companies
3) Developing local tallent
4) Doing more field work in local market
5) Cross disiplinary knowledge sharing within company culture
6) Modification of operating model in new market
7) Avoid to ignor simple probalems
8) Mantra: Experimental is essential 
9) Patience: Result need time to reflect the changes
10) Create your own data
 11) Awareness of self limitation is the key

Other than above there are plenty of other information need to consider particularly for those who are willing promote their business localy such as how people spend, how they react to communication & in which form of communication etc.

To conclude

I think without knowing your self limitation, local market knowledge and continous experiment its very hard to imagine sucess in cross border business particularly in south asian market however if you need any assistance at any stage of your sucess dont hasitate to write me.