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7/31/2019 Asian Joint Ventures - Keys to Success 2012
http://slidepdf.com/reader/full/asian-joint-ventures-keys-to-success-2012 1/17
Joint Ventures in Asia
Key insights on establishing and managing successful JV’s in Asia, and avoiding
common pitfalls
7/31/2019 Asian Joint Ventures - Keys to Success 2012
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8 years and more than 100 real life examples used
A Basis in Practice, Not Theory
Phase1–FocusonAsianmarketsFinancialServicesJV’sDuring2004–2006,indepthfieldworkwascarriedouttoanalyzetheexperience,successandfailuresoffinancialservicesJVsinAsianmarkets–andtoderivea“KeySuccessFactors”blueprintforfutureJV’sthatmaybeestablishedFieldworkinvolved1-1interviewswiththeCEOsandarangeofseniorexecuQvesof10JVsacrosstheretailfinancialservicessector,ineachcasetheforeignpartybeingarecognizedmulQnaQonal.TheinterviewsanddiscussionswereconductedinBeijing,Shanghai,Dalian,Tianjin,GuangzhouaswellasHongKong.Addedtothis,arangeofotherinterviewswithseniorindustryfigureswerealsoconducted.TheseincludedrepresentaQvesofmajorcorporatestrategyandconsulQngactuarialbusinessacQveintheAsianmarketsfinancialservicesmarket,andthiswassupportedwithextensivedeskworkwas
alsocarriedoutwithannualreports,strategypresentaQons,analystreports,pressreleasesandindustrypublicaQonssearchedandsummarizedforrelevantcontent.Phase2–InputFromDueDiligenceProjects–MulQpleIndustriesandMarketsAsthedecadeunfolded,thenumberofJV’sinnumerousAsianmarketsandacrossmanysectorsoftheeconomybegantoemergewithintheM&Aspaceasmanyofthesehadreachedalevelofmaturity.JV’scoveredthespectrumofbeingboththepotenQalacquirerorconsolidatoraswellasthetarget.Someweredistressedornonperforming,andsomewereexperiencingexcellentgrowthandreturns.Insomecases,globalM&AacQvitywasacatalyst,forexampleinforcingtwonewlymergedformercompeQtorstohavetoexitoneJVinamarketwhereregulaQonorbusinesslogicdemandedthis.ItbecameincreasinglyclearthatthesamerangeofissuesandfactorswereatplayinthesuccessorfailureofJV’sinothermarketsacrossAsia,andwererelaQvelyuniversalregardlessoftheindustrycategory,effecQvelywithminor,cosmeQcdifferences.
InsightsandexperiencedobtainedfromarangeofDueDiligenceprojectsconductedatfirsthandbytheauthor,plustheacQveengagementofseniorfigureswithintheInvestmentBankingindustryacrosstheregionwerecollatedandprovidedaddiQonaldepth,perspecQveandapplicabilityofthestudy.Phase3–FurtherFocusedResearchinDepthTheperiod2008–2011providedtheauthorwiththeopportunitytostudyindepththepracQcaliQesassociatedwithJV’sinAsianmarkets,JapanandMalaysiaandfranchise/partnerbusinessesinIndia,Australia,SouthKorea,Indonesia,ThePhilippinesandVietnamfroma“hands-on”perspecQveontheinsideofalargemulQnaQonal.InaddiQon,theauthorwasabletoinvesQgateindepthafinancialservicesJVinThailand,whilebeingresponsiblefortheestablishmentofanewfinancialservicesJVinIndiaandconsumergoodsJVinThailandusingmanyoftheinsightsgainedfromthis
researchproject
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Buildingthefounda/onsforsuccess
Goldmedalsandwoodenspoons
Ge7ngasuccessfulJVestablished
Exi/ng
Abouttheauthor
I
II
III
IV
V
VI
Opera/ngasuccessfulJV
The Executive Summary
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I. Establishing thefoundations for asuccessful JV
I.EstablishingtheFounda/onsofaSuccessfulJV
# Topic KeyLessonLearned ImplicaQons
1 StrategicAlignment Thestrategicintentofboththelocalaswellasthe
foreignpartyneedtobeclearlyidenQfied,
arQculated,andaligned
NeedtohaveaclearandarQculatedviewofstrategyfor
AsianmarketsandabletoidenQfypartnerthatisableto
alignfullywiththisstrategy.
2 CulturalAlignment Thecorporateculturesofthelocalandforeign
parQesneedtobecompaQble,andinparQcular
thereneedstobealeveloftrustandpersonal
rapportbuiltbetweentheChairmanand/orCEOof
bothparQes
NeedtoidenQfyandarQculateculture;alignwithculture
ofproposedpartner;ensurepersonalalignment/
relaQonshipbetweenGroupCEO/Chairmanandlocal
partner.
3 LongTerm
Commitmentto
Asianmarkets
Acorelongterm(i.e.20year+)strategic
commitmenttoAsianmarketsneedstobe
embeddedwithintheorganisaQon,arQculated,and
thendemonstrated.
Needtohaveclear,arQculatedAsianmarketstrategy.
ShouldhaveBoard-levelsign-offandappearregularlyin
publishedmaterial.SeektodemonstrateinpracQcalways
targetedatthechosenmarket’spoliQcalandbusinesselite.
4 Senior
Management
Commitmentto
Asianmarkets
Seniormanagementofthecompany(i.e.Chairman
and/orGroupCEO)needtocommittoregularvisits
toAsianmarkets2-4Qmesperyearduringthe
negoQaQonperiodandinperpetuity
ChairmanandCEOneedtopersonallycommittoregular
Asianmarketvisits.
5 Strategic
Investment
Strategy
Iftheentrypathchosenisastrategicinvestment
ratherthanajointventure,thestrategybehind
this,includingexitstrategy,needstobeclearly
understoodandarQculatedfromtheoutset
NeedtodecidewhetheracQveJVstrategyorstrategic
investmentstrategyischosen,andifthelaer,aclear
purposeforthestrategyincludingpreferredexitposiQon.
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# Topic KeyLessonLearned ImplicaQons
6 UnitedVoiceFrom
ForeignShareholder
Aforeignshareholderthatispartofalargergroupmust
developaconsistentandco-ordinatedgroupstrategyfor
themarketinquesQon,ratherthanhavedifferentpartsof
thegroupundertakingdifferentandpotenQally
contradictorystrategies
Shouldbeseenandactasonecompany.Thereshould
beonlyonegroupstrategyforeachmarket;onepoint
ofcontact;onefocusformarketregulatorsand
bureaucratstofocuson.
7 CorporateCulture Thereisnoconsensusontheidealcorporateculturefora
ventureinanAsianmarket.Thereappearstobeequal
argumentforrunningtheAsianbusinessasa“subsidiary”
oftheforeigncompany;apurelyAsiancompanyreflecQng
thecultureofthelocalpartner;oranewlycreated
“hybrid”culture
Desiredculturefortheproposedventureshouldbe
chosenandarQculated.
8 PersonalAgendas
AmongLocal
Management
Theforeignpartnershouldnotbesurprisedwiththe
emergenceofpersonalagendasamongthemanagement
andBoardofthelocalpartner.Thisisnotnecessarilybadinitselfandcanbealignedwiththeinterestsoftheforeign
partner
RealisQcexpectaQonsandconQngencyplansneedto
bedrawnup,parQcularlywhenthismaycontravene
policiesandprocessesthatareappropriateforthecompany’shomecountrycontext.
9 EarlyMover
Advantage
Earlymoveradvantage–especiallyfirstforeignplayerinto
ageographicregion–areseeninmanyinstancestobean
importantingredientindevelopingasuccessfulJV
howeverthereisnoclearcorrelaQonbetweensuchearly
moveradvantageandsuccessinthemarket
Careshouldbetakentoensurethatifearlymover
advantageisseenasaddingvalue,thatthisvalueis
realandnotillusoryversusamoremeasured
approach.
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# Topic KeyLessonLearned ImplicaQons
10 DifferentiationThrough Being
Foreign
Simply being a company with some claim topartial foreign ownership is not in itself any point
of differentiation that is relevant to the localmarket
Company must decide if it wishes to have a point of differentiation and if so, what it is. Simply being foreign
will not have any particular resonance in the market byitself.
11 Less Than 50%
Equity
An equity stake of less than 50% will almost
certainly mean that the foreign party will have norealistic voice in the company’s strategy or
management and will be relegated to being anobserver, rather than a participant
Company must make a clear choice between s strategic
investment where it has no real control over thebusiness, or a JV – and this base decision will guide
future strategic choices.
12 Up-Front Capital
Commitment
Fully capitalising a business at the
commencement of business will test the resolveof both parties to make the business succeed
Company should consider its own level of commitment
to the market as well as that of its chosen partner.Committing capital up-front is an “acid test” of thiscommitment.
13 Level of CapitalCommitment
Capitalising the business at the minimum levelsmay create difficulties in agreeing to capital
increases by the local partner, however over-capitalising the business may be inefficient
Company needs to establish an appropriate balancebetween the minimum and maximum capital levels,
taking into account the cost of allocated capital.
14 Local Partner Has Western
BusinessExperience
A local partner who has experience of the waysthat foreign businesses operate – and ideally has
other true JV experience with a foreign partner –will prove to be a much easier relationship tomanage
Company should seek to find a partner that has a levelof experience and comfort in dealing with and
understanding the foreign business culture.
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# Topic KeyLessonLearned ImplicaQons
15 Foreign Partner JV Experience
A foreign partner with institutional experience inoperating JVs, and particularly operating JVs in
different cultural and language situations, willfind forming and operating a JV in Asian
markets much easier than a company that
does not possess this experience
Company should seek to leverage off anyexperience within the group in running foreign
JVs. Should this experience not be in existence,the group should consider recruiting or
contracting such experience and ensuring that the
institutional knowledge is embedded within the
group in the future.
16 Foreign Partner Clear Modus
Operandi
A foreign partner that has a clear businessmodel that is relevant to Asian markets and
can be easily cloned, “taken off the shelf” or aneasy turn-key solution proposed will find that asuccessful JV in Asian markets is much easier
to achieve
Company should seek to develop and articulate avery clear operating model for the proposed
venture, preferably one that can be demonstratedas successfully operating elsewhere.
17 Tangible Value to
the Partnership
The foreign partner needs to be able to bring
very tangible items of value – such as alocalised IT system – to the venture
Company should seek to be very clear in
“bringing to the table” some key points of valuesuch as IT, product, operating models, personnel,etc
18 “Cloning” anOperation is
Easiest
Foreign companies that are able to copy or clone a successful Asian operation with a
minimum of customisation find that forming andoperating in an Asian market JV is easiest
Company should seek to find operations of elements of operations that can be copied and
adapted wherever possible rather than beingcreated from scratch.
19 GeopoliticalRealities
Asian governments may be sensitive to therelative strategic importance of countries and
specific countries may be of greater strategicsignificance than many other countries
Company must acknowledge the position of their origin in this context and seek a partnership or
positioning that exploits a particular strength thatthe company – or their origin – may possess.
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II. Establishing a successfulJV in practice
II. Getting a Joint Venture Established
# Topic KeyLessonLearned ImplicaQons
20 Capacity for Expansion
Companies that have a local partner with theestablished capacity to expand (e.g. national
distribution) have the ability to expand, when
allowed, faster and quicker than purely localoperation
Company should ideally seek to form a partnershipwith a company that is able to leverage national
distribution at a future point.
21 Local Partner
Understanding of international
Finance andReporting standards
The local partner must be able to comprehend the
need for certain accounting and regulatoryapproaches to be used even if they are not
necessary for their particular market
Company needs to take particular care to ensure that
the local partner understands (and is regularlyreminded) of the way that financial reporting may
differ from what they are used to at a local level
22 The NegotiatingTeam
Both local as well as foreign representatives of theforeign partner should form part of the negotiating
team
Company should have a negotiating team thatconsists of both local and foreign members, of
appropriate seniority. The foreign members can beexcused for blunt and insensitive behaviour.
23 Seniority of Chief Negotiator
Top management of local partners expect tonegotiate only with a person very highly placed in
the organisation
Company’s most senior hands-on negotiator must beas senior as possible. The level of seniority of the
negotiator will be reciprocated by the local party.
24 Underlying Intent The underlying intent of the JV agreement and the
personal relationships between senior members of the two negotiating teams may mean more than
the actual agreement wording
Company must ensure that there is as much
“common understanding” and accord on theprovisions and intent of each part of the agreement
as there is to the actual wording of the agreement.
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# Topic Key Lesson Learned Implications
25 Reluctant LocalPartner
If a local partner is reluctant or under duress byGovernment or some other party to form a JV, the
foreign party should exercise great caution
Company should decline to proceed with any partner who appears to be going through the process with
any form of duress or reluctance.
26 Address All Issues At The Beginning
Issues that have been overlooked, or have beenallowed to remain unresolved as part of the
negotiation process will not resolve themselvesand may become a major future problem
Perhaps allow 2-3 times longer for the negotiationprocess than in any other culture, to ensure that
there is complete and detailed agreement on everypoint. Should not move ahead if any doubts remain
27 Local Partner Understanding of
industry
There is no clear pattern to success/failure basedon whether the local partner is or is not already
involved in the same industry as the foreign party
Company should ensure that if the local partner isnot exposed to their industry sector that they receive
the necessary assistance to help them understandthe business and financials. If they do have an
existing company, must ensure that this knowledge
will not impede the partnership.
28 Local Reputation of Partner
The local reputation of a potential JV partner inside the relevant markets is more important
than the reputation of that potential partner outside Asia
Company should research the local reputation of theproposed partner as much as its international
reputation.
29 Speed is Not Of The Essence
Pressure to agree on a local partner according toan arbitrary time frame is likely to cause a poor
decision to be made. The Asian opportunity is notgoing to disappear tomorrow.
Company must be prepared to take “as long as ittakes” to get the deal right, and not be motivated by
external agendas or time frames.
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III. Operating asuccessful JV
III. Successfully Operating a Joint Venture
# Topic Key Lesson Learned Implications
30 Asian people may
appear similar towesterners, but
great culturaldiversity exists
Staff and other resources from other Asian
countries can assist markedly in the quickestablishment of another Asian operation
However these people – could be seen by thelocal staff as even more foreign that the
“foreigners”
Company should not be lured into the trap that
sees all parts of Asia as culturally homogenous.
31 A JV is aCompletely New
Entity
Creating a JV creates a completely new entityand one that is not a true subsidiary of either company. The new management team should
have allegiances to both shareholders andcannot be treated as a member of the normal
management team of either party
Company must understand that a JV will have asmuch allegiance to the other shareholder as theyhave to , and a JV will probably operate very
differently to a controlled subsidiary.
32 OperationalManagement vs
Shareholder Management
A good operational CEO may not be the bestperson to also “front” the primary shareholder
relationship. Some models separate these twofunctions within a JV
Company should carefully consider the two rolesof operational management of the business and
management of the shareholder relationship anddetermine whether it is reasonable to expect thesame person to excel at managing both of these
issues.
33 Abdication of responsibility
The foreign shareholder should not abdicateresponsibility and allow the local shareholder to
make key decisions or manage the business
as they see fit, because they have greater market understanding
Language can create barriers, but it is dangerousto allow the local partner to do what they like, as
this will often be to their own benefit alone. Such
a stance may also involve brand risk for theforeign shareholder
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# Topic Key Lesson Learned Implications
34 Differentiation and
Innovation
A number of companies do not feel that in a
growing and immature market like many Asiancountries, differentiation or innovation are
important qualities compared with faithfulexecution of a proven business model
Company needs to form a view as to whether
differentiation and/or innovation should form apart of the Asian market strategy, and if so what
are the most meaningful forms of differentiation or innovation for the local market.
35 Development of Local
ManagementCapacity
There is a limited capacity of external staff toadequately resource most Asian markets’ need
for qualified and experienced people, andcompanies must devise ways to train, promoteand retain “home-grown” talent
Company must develop a viable strategy for theidentification and development of appropriate
local management talent.
36 Do Not
Underestimate theRegulator
The relationship with the regulatory bodies –
and their power to create future problems for acompany – should never be underestimated.
Out of sight should never be out of mind.
Company should not underestimate the
importance to develop and maintain a positiveongoing relationship with the regulator and all
relevant officials37 Role of Chief
Representative
In a number of cases, the skills needed to be a
successful Chief Representative have not beentransferable into successful operational CEO
Company needs to form a view as to the role of
the Chief Representative once the venture movesinto execution and ongoing operations.
38 Staff SecondedFrom Local
Partner
Staff who are seconded from the local partner require a specific management strategy to
ensure that they are appropriately recruitedand managed.
Company must acknowledge and drawcontingency plans for the inevitable management
issues that will develop from staff seconded to thebusiness from the local partner.
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# Topic Key Lesson Learned Implications
39 Multiple Levels of Relationship
Shareholder relationships should be developedand maintained at all levels from Chairman andGroup CEO down, to ensure stability in the
event of staff changes
Company must build a relationship with the localpartner at various levels that insulates therelationship from personnel changes.
40 Customer Service A number of companies who do not feel it is
possible or necessary to differentiate on thebasis of product or distribution are
differentiating on the basis of customer service
Company should consider the role of customer
service in developing a point of differentiation,particularly against local companies
41 Emulation of Best
Practice
Do not underestimate the willingness and
capability of a local company, if they are thepartner, to quickly copy best practice from the
JV and thus erode any specific value the JVhas to offer
If Company chooses to partner with company
already in the same business in their own right,the threat of loss of intellectual capital to the local
partner should be factored into the equation
42 Brand Strategy A clear brand strategy needs to be adopted,although there is no consensus of what model
is the best option
Company needs to address the brand issue, andthen develop and agree with the local partner on
a clearly articulated brand strategy
43 Use of Best
Practice
The local partner will be very much aware of
best practice and sensitive to the possibilitythat the foreign partner may not offer this best
practice in the Asian context
Company must ensure that best practice from
within the group is demonstrated to the localpartner, and not treat the JV in an immature
market as being “just like our country was 20years ago”. This may be quickly seen as
disrespectful
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# Topic Key Lesson Learned Implications
44 Specialrelationships
Senior members of the local partner may forma particularly strong relationship with the CEO,(or other senior roles) of the foreign
shareholder, however the business usually isrequired to report to or work closely with less
senior roles in the foreign company. This isoften the cause of a great deal of tension
CEO or other senior roles within the foreignshareholder should take care to manage therelationship and not undermine functional
leadership responsible for the day to dayoperation of the JV. If this is not done well and the
local shareholder has the ability to go direct to theCEO and bypass normal channels, it will result in
a range of difficulties and complexities
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IV. Exiting a JV
IV. Exiting a Joint Venture
# Topic Key Lesson Learned Implications
45 Do not ignoreJV’s in M&A
discussions
Asian JV’s are often quite insignificant in financialscale for a large global M&A transaction and they
are often brushed aside as a detail to be sortedout later by the corporate finance teams in New
York or London
Failure to adequately consider and address these issues canbe costly at a later stage and take a disproportionately large
amount of resource to untangle. Many multinationals arevalued on the basis of their Asian future growth prospects and
Asian JV’s may have greater significance for the future thanis realized
46 Maintain open
dialog withthe localpartner
Whether there is a requirement to exit the JV for
reasons beyond the control of either party (e.g. aninternational merger requiring rationalization of multiple JV’s in the market) or any other reason,
early and frequent communication with the local
partner is important, even if that is to say there isno news
The local partner is likely to be particularly sensitive and
within many Asian contexts may interpret silence asdisrespectful or jump to conclusions that are not valid.Regular and open communication is essential to defuse these
issues
47 Problems donot fix
themselves
“Ignore it and it will go away” does not apply.Unresolved issues or leaving things until a later
time will often compound the matter
Failure to act in a timely manner can cause significantdownstream issues of financial and reputational damage
48 ExpectWeakness to
Be Exploited
If you wish to exit whether by choice or necessity,expect the local partner to take as much as they
can. They have little to lose and potentially a lot togain
Exiting a JV can be messy and often the best outcome is towrite off all investment to try and minimize liabilities. A weak
or inexperienced person managing this process can expect tobe fleeced
49 Reputation is
Critical
Preserving the reputation of the foreign partner
throughout the process is a critical factor thatshould not be overlooked
It is important to think about the long term strategic
implications of the exit to your brand reputation, not just theissues/numbers in the short term
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V. Gold Medals andWooden Spoons
Conducting first hand research into this topic, and speaking first hand to senior executives within both the foreign partners as well asJV’s themselves across the Asian region has been a fascinating and illuminating experience.
In most cases the foreign partner was a significant multinational, and in the majority of cases was a global “Fortune 100” company withwell recognized and respected brands.
One factor was almost universal; the executives – whether they had been fully or partially responsible for the JV’s establishment or
had become involved later in an operational capacity – all stated that they or their companies made some fundamental mistakes in theway they went about the exercise, and would do things differently if they were given the same task again. These comments were quite
consistent, and startling considering the range of different organizations, their global reach and experience, and the level of resourcemost had to call upon. And considering the amount of financial investment involved, the comments were concerning.
How could it be that so many companies, with so much management talent and experience, willing to invest so much capital, would
admit they would do things differently in the future?
The answers are complex as are the reasons for these comments in some cases, and it is rare for anyone with the gift of hindsight to
not identify things they would wish to change or do differently. And in some cases the JV’s have performed well but still there weresome major issues or false starts to get to the current point.
However even discounting those factors there remains an unexpectedly large number of companies who admit to seriousshortcomings in the way they have established or operated their JV operations in China, and these are arguably companies that would
in the normal course of things be expected to do things well – whatever they do.
Analysis of the underlying cause of the self-confessed shortcomings of this group highlights some common themesand these emerge as the most critical pitfalls to avoid, or conversely the most critical success factors that must be met.
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Key common pitfalls
The most common underlying cause of failure or sub-optimal
performance of the JV mentioned by the foreign partner
StrategicMisalignment
• “Wejustweren’tclearonwhatourstrategywasforAsianmarkets,andwewereallovertheplacewithdifferentpartsofthecompanydoingdifferentthings.ItstartedasamessandsQllisamess”
• SincewesetuptheJVwehavebeenthroughrestructureandmergerandourstrategyisquitedifferentnow–andtheJVreallydoesn’treflectourfocusanymore
• “WhenourpreviousCEOreQredimpetusandfocuswaslostbecausehissuccessordidn’thavethesamevisionanditwasn’thisidea”
• “TheoriginalstrategyseemedtobemoreaboutplanQngflagsinAsiathanreallyfindingastrategythatwasworkable”
Haste• “WeweregivenafixedQmeframetogettheJVestablishedanddidourbestwithinthoseconstraints”• “OuroriginalnegoQaQngposiQonwasweakbecauseourproposedpartnerswereawareweneededtodosomething…anything”
• “TheJVstructurewastheonlystructureopentousattheQme,andwetookit.Iwishwehadwaited”
CorporateArrogance
• “We’vegotacorporatestrategyareabristlingwithMBA’sbuttheylackthedown-and-dirtystreetexperienceittakestorunabusinesslikethis”
• “Wedidn’tseekadviceoremployanyonewithrealexperience.Wedon’tneedto.We’reMastersoftheUniverse.Weknoweverything.Thatwastheatude”
• “OurCEOwasapproacheddirectlywithaproposalthathethoughtsoundedgood,andhewasanexpertonChinaasheoncesawaJackieChanmovie.Thedealwasdonebeforewecouldtakeabreath”
LackofApprecia/onforJVFundamentals
• “Believeitornot,eventhoughweareahugegroupwehavepracQcallynoexperienceinworkingasaJV”
• “TheHeadOfficeguysjustcouldn’tcometogripswiththefactthatIdon’trunabranchoffice–Irunaseparatecompanythatisaccountabletothelocalpartnerasmuchasthem”
ExcessiveInterference
• “OurPresidenthasanegothesizeofafootballfieldandlovestocometoAsiatwiceayeartomanagetherelaQonshipandhavehissuitsmade.ThetroubleishegetsinvolvedandtakescallsfromthelocalshareholdersandweendupwithtwostrategiesforAsia–onewherewehavecontrol,andtheotherfortheJV’sthatarethePresident’spetprojects”
LackofPriorityFocus• “WegettreatedlikeamadrelaQve–alotoftroubleandno-onereallywantstotakeresponsibility.WegetshuntedaroundanddowntheorganizaQonalstructureandit’sclearwearereallyjustadistracQontoHeadOffice.Ourlocal
shareholderfeelsthesameandisreallydisillusionedcomparedwiththeiroriginalexpectaQons”
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VI. About the Author
AveteranoftheAsiaPacific
businessscene,DavidChristensenis
anAustralian(withNewZealand
roots),currentlybasedinBangkok,
ThailandwhereheisCEOof
premiumskincareandanQaging
productsmanufacturerRoyalSiam
NaturalHealthandBeauty.
Havinglivedandworkedin14
countriesaswideafieldasRussia,
India,andJapan,Davidhasa
backgroundinadverQsingwith
Saatchi&SaatchiandDDB,
extensiveinternaQonalbusiness
strategyconsulQngexperienceasa
PartnerwithGravitasPartnershipin
HongKong,andseniorregionallinemanagementrolesacrossAsia
PacificwithAmericanExpress,
CarlsonWagonlit,andAXAAsia
Pacific.
HisLinkedInprofilecanbeseenat
thislinkLinkedInProfileandyou
cancontacthimbyemailat
.
www.royalsiam.asia
RoyalSiamNaturalHealthandBeauty
RoyalSiamisaninternaQonalmanufactureranddistributorofbrandedskincare,haircareandrelatedhealthandbeautyproducts,withitsheadquartersinBangkok,Thailand.Thecompanyspecializesintheuseofnatural
ingredients,leveragingtheextensiveknowledgebasebuiltupovermorethan800yearsbytheThaiTradiQonalMedicineprofession.InaddiQontothisemphasisonnaturalandtradiQonalingredients,RoyalSiamresearchesandincludessomeofthelatestingredientsandtechniquesdevelopedbymodernscienceresulQnginarangeofpremiumskincareandanQagingproductsthatrepresentworldbestpracQceinboth100%
naturalproductsaswellasthosethatincludesyntheQcingredients.ThecompanydistributesitsproductsthroughretailoperaQonsinThailandandgloballyviaandinternaQonalonlinestore,accessedathp://www.royalsiam.asia.Thewebsiteofwww.royalsiam.asiacontainsextensiveresourcesandinformaQonaboutthe
skincareindustryaswellastheroleRoyalSiamplayswithintheindustry.