Building the Next Generation of Family Businesses in Myanmar
Internationalisation - Seeking Business Success Abroad
The Myanmar economy is undergoing a huge transformation and this transformation is accompanied by new growth opportunities for local family businesses. Despite the appeal of the local market, some family owners have global ambitions and seek to expand their businesses abroad.
There are three common challenges for companies seeking to enter new markets. These are related to new customers, new rules, and new partners.
Before expanding the business into new markets, family businesses need to clearly understand the type of customers they wish to engage with. Success in new markets requires family businesses to go beyond simply exporting their existing offerings. Instead, family businesses must customise offerings to meet the specific tastes and preferences of local customers in each market. Many firms in the past have failed to enter new markets because they did not manage to provide products and services that met customer needs at prices they could afford. In order to succeed with these new customers, it is critical not only to segment the market in accordance with locally relevant parameters but also to gain an in-depth understanding of the targeted segments from a cultural perspective.
In this workshop, Deloitte will discuss the following:
• Different models and progression of internationalization?
• What are key governance elements that family businesses should consider in internationalization?
• What to expect and how to address potential pitfalls when deciding to internationalize?
Date: Thursday 20th June, 2019
Time: 8:30am until 11.45am
Venue: Sule Shangrila Hotel
Cost to Members: $30
Cost to Non-Members: $50
If you are no longer able to attend, please cancel your place at least 48 hours in advance. All no-shows will be charged the entry fee.
Platinum, Founding, Gold, Corporate, Overseas, Entrepreneur Members