`Global mindset key to business success`

Simon Bureau, the chief of the Canadian Chamber of Commerce in Korea, did more than help foreign companies come to the Korean market throughout his decade of being in the consulting profession.

He has a passion to help Korean small and medium-sized companies succeed in overseas markets at a time when going global has become a necessity and not an option.

Such enthusiasm is manifested in his newly published book, "Global Business Mind-Set," which hit shelves in December.

The 245-page book is aimed at serving as a potential bible to Korean entrepreneurs ambitious about taking their businesses overseas, and most importantly, achieving success.

Published by Seoul-based Chungrim Interactive Co., the publication is unique in that it is the first of such books written by a foreign businessman in the Korean language and targets local readers, according to Bureau.

"It is a passionate call to the Korean SMEs," the 47-year-old told The Korea Herald. "I want to see more SMEs succeed overseas; and to do this they need to improve their global business skills, because it`s just not only about understanding culture," he stressed.

The French-Canadian added that his publication can even help the employees of companies enhance their global mindset. The chief, who is also CEO of his own consulting firm, Vectis, underlined the dire need for Korea to diversify the products and industries for its exports.

Highlighting that Korea needs to urgently wean itself off an export-oriented growth model dependent on only a handful of industries dominated by the conglomerates, the book, citing Bank of Korea statistics, notes that exports made up 4.5 percent of the country`s gross domestic product in 1970, which ballooned to 64.9 percent by 2008.



If the country wants to survive and sustain its export performance in a rapidly globalizing world, Bureau suggests in his book: "one of the ways to improve the competitive position of Korea in the global economy is to broaden the base of exported products as well as the number of exporting firms by enhancing the global business capabilities of more SMEs."

To Bureau, globalization is not just about exports.

"Globalization is a two-way street, and there is no full awareness of this (here); and also, China is right behind following Korea with the technologies, so this means, Koreans will really have to know how to sell products," the entrepreneur whose ties with Korea span over 20 years.

He offers a comprehensive and effective tool in his book using the acronym: MIND-SET. Bureau applies the eight-point principles, which includes the "hyphen" in between, of a "global business mind-set" on specific examples relevant to the Korean business world so readers can understand how these apply in their daily business activities.

Those curious to know what these eight tenets are will want to consider reading the book.

But of these, Bureau reveals that the second principle - "Independence" - is the most urgently needed by Korean entrepreneurs.

"Koreans need to work on the `I` the most right now; the `I` relates to the Korean companies the most because they need to understand that they need to think independently of their success in the local market and they need to do a reality check," he explained.

The business guru confessed that the Korean government needs to offer the "brakes" and the "transmission" and not just the so-called new "engines" for economic growth.

"You need sales and marketing to make things move, which is the growth transmission, and you need to find the brakes to understand what is preventing growth; it`s not just about the growth engines."

Bureau`s book is selling for 14,800 won at local bookstores. Impassioned advice he offered during the interview is:

"Korea is way up there in technologies, but having the best technology is only half the solution; what`s the point of having the technology if they can`t sell it?" he exclaimed. "They need to know how to sell it, which means having the best technology with the best marketing strategies," he said, stressing that the right marketing tactics are the way to keeping China at a far distance.

(sohjung@heraldm.com)



By Yoo Soh-jung