MODERN OPPORTUNITY
2 Billion Consumers….and
counting
W
By Marjane Beugeois
ith the Lunar and Chinese
New Year just passing, it
seemed important to me to
brush up on some of the common
business practices in Asia. The
business culture in China and in
Chinese dominated markets such as
Singapore, Malaysia and Vietnam are
very different to the West. Bridging
over cultural diversities will hugely
benefit your market development
endeavour. While nothing beats
personal experience, we
hope that this article will be
useful in guiding your first
steps in Asia.
last point is particularly important
when it comes to public servants)
• Patience. Closing deals usually take
longer and require plenty of ground
work.
• Politeness and humility
In most Asian countries, meetings
usually take place in the same way
as in Australia with a little more
emphasis on rituals and formalities.
Perhaps more than
anywhere else, relationship
building is an integral part
of doing business in Asia.
Building good, professional
rapports with the locals,
means they can help you
learn the ropes, guide you
and provide you with much
needed referrals.
In Asia the following
qualities are considered as
important:
• Save face or Mianzi,
meaning “dignity and
prestige” is the single most
important cultural notion.
Save face and keep face is crucial
to Guanxi “building relationships”
as business activities heavily rely on
personal and professional networks.
• Respect for elders and the hierarchy
within the company (note that this
20 ModernBusiness
March 2016
Asians appreciate punctuality, so it is
imperative to arrive on time or slightly
early for meetings.
Check the Chinese and national
calendars. If you are the meeting
organiser, avoid all national holidays,
especially the Chinese or Lunar New
Year. While most Asian countries are
on standby it can be very difficult
to secure meetings with important
people. National holidays such as
May 1 Labor Day may also affect
business.
Attend the meetings well prepared.
Your Asian hosts have most probably
researched your company and will
bring documentation and literature
about their business. Do the
same. Going to meetings
unprepared is seen as a lack of
respect. Except in Singapore
where English is the dominant
business language, translating
your marketing material in the
local language is a smart move.
Asian companies receive many
enquiries, your business must
stand out from that very first
meeting and your marketing
material must do the talking for
you.
It is more convenient and
much safer to have your
own interpreter or have a
local business partner or a
specialised agent to accompany
you if your hosts do not speak
your language fluently. This
is even more crucial at a later
stage, when technical topics and legal
information are discussed.
The dress code for the meetings is
formal. If you are unsure about the
formal nature of your meetings it is
safe to opt for a business suit for