Monthly Archives: December 2011

LG Localization Leads To Substantial Profit Increase

LG Understands How Localization Can Make A Difference:

“LG Hausys’ products that focus on catering to Chinese customers ― such as environment-friendly wallpaper Eco Hera and red ASA windows ― are part of the localization efforts that contributed to its sales jump in China.

ASA windows alone have recorded 40 billion won in yearly sales, four times that of the Korean market, according to company officials.

The firm has also set up a website exclusively for Chinese customers not only to focus on the market, but to increase the awareness of its premium interior product lineup, its officials said.”


Localization Means Greater Business Profits

“Companies are pooling resources to optimize their international web presence. Until recently, they did the bare minimum to have a translated site available to foreign customers. But in today’s market, a top-quality web presence in all languages has recognized value. Localization is now a priority. Smart organizations realize that translated versions of their website are extensions of their brand. Furthermore, the companies that they partner with to translate their online messages are serving as their international ambassadors. As such, more attention is being paid to the quality of the translated content as well as market-specific versions of their site that reflect cultural differences. Organizations are coming to terms with the fact that in order to realize ROI on websites in foreign countries, the translated site experience should be as robust and appealing as the source language site.”



The Future is Mobile– Are You Ready?

“With India’s internet user base increasing, device manufacturers like mobile phone makers have a huge opportunity ahead of them. Analysts like Boston Consulting Group (BCG) and Gartner reckon that most users will access internet on a smart phone rather than a personal computer.”

The Unstable Financial System in China

“Mr. Walter — an investment banker who has been working in China for about 20 years — says great progress was made in China during the 1990s, when the country’s leaders began pushing a series of sweeping changes meant to restructure the state-run economy, reform its banking system and lay the foundation for a capital market system.

But the authors say that despite the veneer of a market economy, the state has been reluctant to surrender power. They contend that China is largely controlled by powerful state-owned oligopolies, and that those companies and the Communist Party use the banks and capital markets as cash machines or utilities to drive growth while also hiding debt and distorting the value of assets.”

Mr. Walter’s assessment is dead on accurate and peels back some of the unique issues in working with the Chinese government.

Localization in a Brave New World

Localization in a Brave New World

The world is changing rapidly. What will the future organization look like?

There are several challenges. Most large firms have global operations, but their management is domestic. The Germans run German companies, the Koreans run Korean companies, the Indians run Indian companies. We could see more nationalities being represented in senior positions in the next 10 years. Companies will need a global mindset, but they also need to understand local culture.

Decision-making will also have to become more flexible and adaptive. Business models need to be tweaked in different parts of the world. The corporate centre is too far away to understand changes on the ground; or if they do, it is often too late to react.”