Doing business in a geo-protectionist environment
BUSINESS TIMES - This Week's Topic: How might Singapore companies combat rising economic nationalist tendencies when seeking to expand abroad?
WHEN it comes to growth and expansion geographically or capability wise, I follow the 3B model - Build, Borrow or Buy.
- Build - If you can build it, with star talent, they will come
- Borrow - Partner for expansion and success
- Buy - Acquire for footprint and capability
I follow these steps in order, as I have found acquisition isn't the answer to every question. As leaders we have to feed the insatiable hunger for growth that business is rewarded for, so if Singapore companies are finding it difficult to acquire growth in this geoprotectionist environment, perhaps they should walk their way back through the B's.
Chris Foster
Regional President Asia
Y&R
26 March 2018
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