This is part of a new category of posts: Q&A with Michelle. In this I’ll share some the questions I’m being asked along with my answers. As my teachers always said, “If one person has a question, others in the class are probably wondering the same thing.” You’ve welcome to add your questions!
How important is it to have qualified locals working in emerging markets?
It is critical to have qualified local talent regardless of the foreign market a company is in.
1. Make it easier for local employees to work with the parent company because local leaders manage toward company objectives in a manner that is effective for the regional culture.
2. Provide intelligence on the local market, culture and on-the-street happenings that the headquarters needs and wouldn’t have access to otherwise.
Being a local leader is demanding because people in this role are often acting as a buffer between two opposing forces. As a result, key local talent must be robustly developed and retained.