October 28, 2012
The team at Beasley Intercultural welcome the release of the government’s ‘Australia in the Asian Century Whitepaper’. If ever there was any doubt about the business case for a greater focus on Asia, the whitepaper dispels it. The paper creates a cogent, coherent and compelling case for more strategic business engagement and integration with the economies of our region.
The challenge for Australian businesses which still remains will be leveraging these opportunities. The white paper clearly defines the ‘what’ of engaging in the region. The conversation about the ‘how’ to ensure Asia capability in our businesses is only just beginning. The challenge with any such government initiative is the implementation. Who will take the plunge and invest in enabling and creating greater Asia capability in our organisations, institutions and businesses? This is an investment in our future, not merely a cost to be written off.
We commend the government for committing in the white paper to educating all of our children in Asian languages, and cultural literacy. However, we need deeper Asia capability in our business sector now, and we don’t have time to wait until these children graduate and enter our workforce. While the report says “Australian businesses recognise their approach must be based on a good understanding of the region”, research shows* a significant lack of board members or senior executives with Asian experience or language ability in Australia’s leading companies. Many businesses do not yet recognise or understand the cultural differences and the impact these have on business relationships, process and outcomes.
It is critical for our business people to develop or access intercultural awareness, perspective, knowledge and capability. These Asia-skills will enable the strategic approach, development of nuanced relationships and adaptability it takes to succeed in the diverse markets of the region.
* The Asialink / Australian Industry Group survey found that businesses see capability issues as among the greatest impediments to planned expenditure or expansion into Asia. Less than half of the 380 businesses surveyed in 2011 report having any board members or senior executives with Asian experience or language ability.