The Rise of Asia: Rethinking business models to capitalise on emerging opportunities

panlistsThis morning I participated in a panel discussion at the 2013 CPA Congress in Sydney on ‘The Rise of Asia’.  Facilitated by Ticky Fullerton, our discussions explored what Asia capability is, and how we achieve it.

photo (2)There has never been a more timely discussion. As Australian businesses, we need to get Asia capable, and we need to do so now.  Just one of the ways we can expedite our Asia capability is through leveraging the talents of our diverse population.  However, the Diversity Council of Australia  ‘Capitalising on Culture’ report released today reveals just 2% of Senior Executives and 4% of Directors in ASX 200 listed companies have an Asian background.  This contrasts to our population data which tells us 10% of Australians have an Asian heritage.

To engage with Asia we need to ensure the leaders of our organisations have, as Alex O’Malley, the CEO of CPA a fellow panellist so succinctly put it “strategic intent”.  To be successful in the region takes time and commitment, and as the CPA demonstrates so clearly, their sixty years in the market is paying off.

What’s needed?

Awareness – of the region and the opportunities and realities there

Perspective – an understanding of how our ‘Australianness’ is not universal, and differs to the business practices of many cultures of the region

Knowledge – of the distinct cultures, political, institutional, economic and social environments in Asia

Capability – to adapt, adjust, innovate and perform in this new business environment

Asia capability is not ‘nice to have’, it’s a critical strategic imperative for business success in this Century.

About the Author:

Tamerlaine Beasley is an expert who enables effective collaboration and communication in diverse and global workplaces.She is a member of the Board of the Australia-ASEAN Council for the Department of Foreign Affairs and Trade, and founder and Managing Director of Beasley Intercultural, Australia’s premier cross-cultural training and consultancy company.Tamerlaine’s keynote presentations, advisory services and training programs are described by clients as ‘transformational’ and ‘game changing’. Examples of her work include: coaching and advising business leaders in Australia and Asia; working with global teams to optimise performance; developing a framework for training and capability building through international partnerships for APEC; building local staff capacity at the United Nations Economic and Social Commission for Asia and the Pacific; leading the development of diversity and inclusion programs for the Australian Public Service Commission and the Department of Defence.