Companies looking to grow know that they need to look to the developing world. However, even the BRIC countries (Brazil, Russia, India, and China) are becoming old news: the acronym has been amended by many economists with “S” for South Africa, and lately, “I” for Indonesia. Other countries like Turkey and South Korea are ripe for entry even though they were hardly considered just a few years ago.
Localize your technology strategy: Locals, even IT executives, won’t likely have the same level of technology maturity as employees in the home office, says Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Knowledge Group, an IT research and advisory firm focused in emerging markets. In Thailand, a subsidiary started with a mobile app for factory workers so that they could check on inventory status while on the shop floor instead a full-blown desktop app. “A lot of these people are not educated in technology but using a mobile app is very easy for them to learn.”
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