Essential Leadership Traits
This essay summarizes Edward Chow’s article entitled “Essential leadership traits for growing business in Asia” that was published by CEC Magazine. According to the report, business entities are growing rapidly in the Asian continent due to the prevailing conducive environment for business. Since Asia is rich in cultural diversity, leaders intending to operate a business here need to equip themselves with special skills (Chow). Such skills include the ability to embrace diversity, recognition of Intermarket differences, expertise in building relationships, and understanding of intercultural communication.
Business leaders need to embrace diversity to succeed in business in Asia. Asia consists of 51 countries with more than twelve religions and more than 2000 languages (Chow). It is worth for leaders to note that nations, religions, and tribes differ in terms of cultural norms. One practice may be acceptable in one group and unacceptable in another group. Therefore, to succeed in business, leaders should be flexible enough to embrace this diversity and treat each group according to their culture.
Recognition of Intermarket differences is another skill needed by business leaders in Asia. The Asian market has been divided into various segments. For instance, China is divided into various regions, and each region has it’s market (Chow). This also applies to Singapore. Notably, each market has a distinct demand, and business leaders should learn to appreciate their differences and device a way of accommodating them.
Business leaders also need to build a relationship to survive in the Asian economy. Due to diversity in culture, business leaders should learn to understand and respect the various culture. (Chow). A strong relationship can also be built by participating in community projects that add value to the people. Should business relationships increase customers and profitability?
Leaders should learn to understand each cultural way of communication. Different regions across the continent have a unique form of communication. In Australia, direct interaction is preferred, while in China, direct interaction is considered disrespectful. Understanding this variation in communication helps business leaders to relate well with customers(Chow). Business leaders with the ability to vary their communication in different cultures are likely to remain relevant in the Asian economy.
Reference
Chow E. “Essential leadership traits for growing business in Asia.” CEC Magazine,2019, https://www.theceomagazine.com/business/management-leadership/growing-business-in-asia/