(PRWEB) November 24, 2007
Globalization is a word that is on everyone's lips these days, from politicians to businessmen. After all, this is the force responsible for unprecedented prosperity and growing economic integration at the global level.
Small wonder that businesses and individuals are all clamoring to jump onto the globalization bandwagon. Amid the heady rush of the seemingly infinite opportunities that globalization offers, some organizations are waking up to the somber realization that the extension of their influence to the far-flung corners of the earth comes at the expense of their local support base.
Nicholas Goh, Managing Director of Verztec Consulting Pte Ltd, a leading provider of Translation and Localization services, provides a tip sheet on how businesses can achieve increased streams of revenue by going global and at the same time, maintaining deep roots locally.
As a Multilingual and Cross-Cultural organization, Verztec has benefited vastly from the opening up of new labor markets worldwide. Nurturing global business collaborations has also brought us increased cost savings and a substantial market presence in foreign locales. Despite the additional revenue generated from overseas ventures, Verztec recognizes the danger of alienating her local clients. An organization's reputation is often developed in her country of origin. Foreign companies gauge the capabilities of potential partners via their market presence on native soil. The local and international are inseparable, each feeding into the other.
How then, can an organization develop its local presence while casting a wide net into foreign waters?
(1) Identify Objectives
Objectives limit or delineate behavior. Once the objectives are set, the system can self-regulate within these boundaries. All Verztec personnel are briefed on the organization's mission statement--to be a leading provider of quality Translation and Localization services in the local market while expanding her operations overseas.
Members of staff are also kept in the know on the organization's sales targets and results. They can then gauge how their efforts have contributed to local and international sales and tailor their approaches accordingly. With a singular objective in sight, employees can also police themselves by rating one another on the quality of their behavior.
Operating in a local context has many benefits, chief of which is relevance. Businesses that cultivate first-hand knowledge of the unique requirements and specificities of a culture can customize their offerings to suit the palates of a local audience.
Not only will this measure win a company local business opportunities, it will also usher in multi-nationals keen to establish a presence in local market. Familiarity with the home environment will allow organizations to come up with dynamic marketing messages that resonate with the target audience via the incorporation of local examples and phrases.
Dealings with ministries are always a tricky business. Linguistic expertise and knowledge of conventions is critical when submitting formal proposals. With professional help accumulated from previous experience, organizations can have their proposals professionally vetted and formatted in a manner that not only adheres to the ministry requirements bus also realizes their chance of obtaining approval.
In business, distance is still a determining factor in the rapidness and responsiveness of customer service support. Although the advent of video conferencing technology has given many businesses unprecedented ease and convenience in exchanging opinions and feedback, it requires a hefty capital outlay and involves hidden costs that may affect profit margins.
Call it old-fashioned but many organizations still prefer meeting up with potential service providers face-to-face, to gauge their capabilities and areas of expertise. This is especially the case for huge projects or contracts involving substantial sums of money.
The proximity of one's clients also means that one can have access to a stream of constructive feedback. Progress can then be monitored and feedback incorporated. If an active feedback cycle is lacking, the chances of one's work being rejected is higher.
In all, there are many cost efficiencies that can be reaped with a focus on local markets but applied in tandem with a rigorous international expansion policy.
The trick really is to maintain a viable balance so that a company's vision of one is not obstructed by the other.
About the Author
Nicholas Goh is Managing Director of Verztec Consulting Pte Ltd, a Singapore headquartered company specializing in a range of Multilingual Communication services which includes Translation, On-Site Interpretation, Multilingual Voice-overs and Desktop Publishing, Software and Web Localization as well as Hosting Services.
For more information, please view http://www.verztec.com.