Coming off the Memorial Day Weekend Holiday here. I use holidays as a time to write, read, recharge and re-focus. This means opting out perusing Facebook and Twitter, as well as checking emails. I’m happy this year both the American holiday and Buddha’s Birthday (a legal holiday in Korea) fall together.
I was again asked what’s been on my reading list. I recommend for starters, Brian Grazer’s (the Hollywood producer and with creative partner Ron Howard founded Imagine Entertainment) new book A Curious Mind
A second Book: The start-up of YOU, by Reid Hoffman, co-founder and Chairman of Linkedin
And, Hatching Twitter, by Nick Bilton
All three give some great insights into the varying aspect of American business–behind the scenes and sub-cultures.
This brings us to today’s topic—these recognizing diverse sub-cultures. To often like an iceberg what is seen on the surface only shares a potion of a business and in particular for that business model in a respective market or region.
What is truly deceptive is that on the surface business is business, and all can appear similar. Where the challenge emerges is that each business sectors can vary considerably in the West, and the three books I mention highlight just how different.
For example Brian Grazer, as a Hollywood insider and successful TV and film producer talks about expectations within filmmaking and specifically Hollywood that require special mindset— which at the core is “creating ideas.”
Building on this, the other two books look at recent trends and sub-cultures that exist within…
As the Linkedin Chairman points out that in contrast to an old model embodied by the once great Detroit, we find the entrepreneurial mojo of Silicon Valley embracing a willingness to take bold risks and accept failure, coupled with a network of alliances to work in collective action.
More revealing to inner workings, we find in Hatching Twitter that can things vary lots even across startups. Cited in the book one of the Twitter co-founders Biz Stone willingly went to a startup which would become Twitter from “unlimited free meals, free snacks, free buses to work, and a free inexhaustible everything at Google and replaced with a office where homeless people slept in stairway, the only free transportation was his two feet, and the only free food and drink was a beer after work if EV [his boss] picked up the tab.”
This said, the author notes, “ The cultural difference was incalculable. The sterile, robotic culture of Google, with its know-it –all engineers and bossy bosses, was now replaced with tattooed hackers with a do-what-you-want mentality.”
So what am I saying…
To my friends and clients in Korea, I’d share these are just several examples of the diversity in Western work culture and norms—a deep understanding required to be effective in the local market.
In contrast, although no two Korean Groups are entirely alike in their mindset and even Divisions and sister companies within a Group can vary some—workplace culture, norms and process are very relatively similar. For example, hierarchical titles, role of Finance, a team focus, a junior’s deference to seniors, pressure to take action over considerable upfront critical thinking, as well as top down oversight and decision making.
All said, I am often asked about a pet project of mine over the past year Mad For Garlic. My Korean friends and the expat community in Korea know the brand well. In short…. Mad For Garlic is known for its unique and innovative menu with garlic-specialized Italian cuisine.
I was asked to assist the team in US market entry. A rare and very smart move by the Korean team who recognized the need for local support. Our first round was getting the word out to the FSR industry. This is summed up nice in a PDF study. Link below.
As if often the best case, our original strategy to find a master developer for the US market has evolved to now finding a VC or Angel to invest in the International development of the brand. This makes considerable sense with a recent $48 MM investment by Standard Chartered Private Equity (SCPE) in the now 40 plus domestic Korea Mad For Garlic operations. This new partnership with SCPE will accelerate Mad for Garlic’s Korea expansion. Working with the Korean team we seek to accelerate the International development though a similar partnership. Questions, thoughts or an interest, please contact me directly and we’d love to discuss more.
Oh and one more thing…. I am off to Nashville, Tenn. area this week and more specifically as speaker a panel on international development held in Clarksville-Montgomery County, soon be home to a $180MM Hankook Tire plant.
So until next time….
Links
A Curious Mind, http://ww w.amazon.com/dp/147673075X
a startup of YOU, http://www.amazon.com/dp/0307888908
Hatching Twitter, http://www.amazon.com//dp/1591847087
Mad for Garlic Market Entryhttp://www.bridgingculture.com/assets/madforgarliccasestudy.pdf
Everything Korea: Episode June 8—The Short Answer
I was on a conference call last week when asked how best to describe my work—and do I provide consulting for CEO and C-level management—her organization’s international development committee made up of a number of CEOs.
My short answer was that a client and long friend, then a CMO for a major company best described my practice to others as Everything Korea… I also like having been introduced as “ a high power consultant” or Don is “the guru, the guy CEOs want to have their voice heard with, “ the later shared on Seoul’s eFM tbs Koreascape.
Pondering over the weekend on the question from the conference call much of what I do is provide context and a strategy to decision-makers involved in Korean facing business projects that range into the hundreds of million of Dollars.
In particular, I provide counsel and solutions based on my years working with Korean business—a good part in the international expansion into new markets and the challenges that surface and as a client once asked “ where are the landmines he needs to be aware of and avoid.”
So this gets to why I post weekly Vodcasts, frequent media commentaries, case studies as well as books on Korea facing topics. They all serve as channels to support and educate.
This said, in my consultancy each engagement needs to be approached on a case-by-case basis—no two situations identical.
If you feel you might benefit from my C-level insights, I’ve blocked out my availability to chat and discuss…. Just go to http://www.meetme.so/southerton
In closing:
A great book on the reshaping of the American economy and the New Order… check out Richard Florida’s The Rise of the Creative Class, Revised Edition. I prefer the Hardcover.
And the music on Repeat Song listened to while drafting this week’s episode—Pink Floyd, “Wishing You Were Here” Re-mastered Available on iTunes.
Links
Seoul eFM Koreascape http://www.tbs.seoul.kr/efm/koreaScape/
The Rise of the Creative Class
http://www.amazon.com/Rise-Creative-Class-Revisited-Anniversary-Revised/dp/0465029930/
Pink Floyd, “Wishing You Were Here”
https://itunes.apple.com/us/album/wish-you-were-here-remastered/id704223460