Gone are the days when CEO’s for multinational firms were selected only from west. Requirements have undergone a sea change. Asian markets have been looked upon these days as a major market.
MNC management carefully evaluate various factors before they choose CEO for their Asian branches.
The 90’s were different, as Asian posting for a CEO was considered as a curse.
Those posted in the Asian branches would take it as a career downfall, as markets in Asia, then, wore a deserted look.
The depleted Asian economy had very little to offer to the bustling MNC’s.
The foreign firms looked upon the markets in countries such as India, or Malaysia as a long term investment, expecting little to gain in the immediate future.
Times have changed; the markets in this Asian belt are fully active. Many foreign firms are looking to capitalize the active economy.
When you have such a high growth and tough competition, the selection of CEO has gained prominence. Unlike in the past, MNC’s are now particular about choosing the right guy for the top post.
Significant factors which affects the selection of CEO in Asia
Asian market are diverse, with more and more international brands crawling their way through, it’s important that the chosen person is well acquainted with the Asian markets.
A CEO is required to understand the cultures of the country, where he is likely to be posted.
Though, many western firms hesitate to pick up a local to head their operations in countries such as India or China, yet, many firms these days are going for Asian locals.
If the guy is not a local, then the chosen one should have enough experience in handling the Asian markets.
Asian markets could be very tricky, unlike western countries, places such as India or other south eastern countries prefer to run with the tide.
Popularity stems from how the product is followed in the society. Asian local heads are quick to realize the factors which could produce results in favor of their brand.
Whatever the foreign firms decide, one thing is guaranteed, that being chosen to head the emerging Asian markets would be considered nothing less than a gift.
No one likes to give a miss when a posting to countries like India, or a China comes along the way. Moreover, Asian countries are also viewed as a tourism hot spot, moving in with families would not be a bad option either.
No comments:
Post a Comment