Learning a lot about networking within different countries

Andy Molinsky is a professor of organizational behaviour at Brandeis University’s International Business School. He regularly writes for the Harvard Business Review, and his work has been featured in the Economist, Fast Company, Fortune, the Financial Times, the Boston Globe, NPR, and the Voice of America. 

He recently did some simple research which put a spotlight on how networking varies across cultures.

– Kanya is an MBA student in the United States who grew up in Thailand. She works in the construction industry and is 26 years old.

– Sandeep is an IT professional from India with an MBA degree from the United States. He is 28 years old.

– Mohamed is a security professional from Egypt pursuing an MBA degree in the United States. He is 24 years old.

Here are their answers:

1. Is networking common in your culture?

Kanya (Thailand): “No – it’s not common at all in Thailand. I have never been to networking events in my country before, other than a specific career fair. We don’t have any organizations that set up networking events.”

Sandeep (India): “Yes, it’s somewhat common, but only in certain situations. Indian culture is opening up to the idea of socializing and partaking in networking activities. As there is an influence of the western culture and the emergence of multinational companies is becoming evident, more and more Indian students and employees are making themselves available for networking events.”

Mohamed (Egypt): “The Arab culture is one that is more personal. You typically do business with those you know personally or have at least met. This makes networking vital in the Arab world. Networking is done in both business and non-business settings much like the West.”

2. Where does networking happen in your culture?

Kanya (Thailand): “Only career fairs provide us with the chance to meet with employers.”

Sandeep (India): “It can happen in many different places – career fairs, conferences, and even at unexpected places like parties or other informal get-together. Social parties, charities, functions are hot spots for youngsters and experienced employees alike to mingle with representatives from companies. I saw it happening in my workplace!”

Mohamed (Egypt): “There are both formal and informal settings to network. I have personally found that connections made through informal networking are more beneficial than those made in a career fair. This could be at a social outing or the informal portion of a conference.”

3. In your culture, what matters most: your resume and skills, the way you present yourself during a networking conversation, or both?

Kanya (Thailand): “When we meet employers at a career fair, they are not usually interested in our resumes. They want to talk with us about our experiences.”

Sandeep (India): “A lot of companies pay special interest to the resume of an individual, encompassing all the skills and expertise he or she has in his or her previous assignments. But at the same time, a lot of companies also look at how an individual carries himself or herself. Confidence is a big positive sign for many employers who are looking forward to hiring someone who can meet expectations without breaking a sweat; a fast learner perhaps.”

Mohamed (Egypt): “Both are crucial, but I believe the way you present yourself is more important. The personal presentation isn’t just a foot in the door; it’s a first interview. Your resume and skills are the second round interviews.”

4. If you are talking with a potential employer at a networking situation in your culture, how appropriate is it to talk about yourself and your background?

Kanya (Thailand): “It is not wrong to talk about yourself at career fair because that is why you are there. But it’s different than in the United States. In the US, you promote yourself and talk about your positive qualities. In Thailand, we’re not used to that. We don’t promote ourselves like in the United States. Instead, we just share our experiences and provide additional details if the employer asks about it.”

Sandeep (India): “You can mention something about your background, even if the employer doesn’t ask, as long as you do not sound too conceited. In the contemporary work environment in India, employees are becoming smart and impromptu in their demeanor. They like to boast, if I can say, a bit about their past jobs, their skills sets. But some overconfident employees and students blow it!”

Mohamed (Egypt): “This depends on the context. Given the right employer, job, and situation you can talk about yourself. I think it is more common for those coworkers to discuss personal matters amongst one another than with your supervisor.”

INTO INDIA comment – Networking varies across cultures – everything about communicating and doing business varies across cultures. It pays to be ready!

https://www.andymolinsky.com/

What will a third term for Indian PM Narendra Modi mean for India and the world?

 INTO INDIA had three big reactions to the Indian elections:

1) Democracy is alive and well in India; 650 million votes cast over a 6 week election process – truly a remarkably strong democracy!

2) Indians want jobs, jobs, and jobs; this is why manufacturing has become so central to India’s economy – the swing away from the ruling BJP suggests PM Modi has to do more on jobs.

3) the Indian voter will expect the government to keep growing the economy – and show why that is a benefit for all Indians.

The only other Indian Prime Minister to win three five-year terms was the first – PM Nehru.

This has been a much closer election than predicted – and probably has given the ruling BJP and PM Modi much to think about. Of course, INTO INDIA notes that long term office holders generally face an anti-incumbency mood.

Congrats to Indian PM Narendra Modi – we have always called him ACTION MAN and in his third term he will need to maintain the action.

We expect a big focus this term on manufacturing, physical infrastructure, digital infrastructure and energy transition.

Why India is such a rare and attractive investment market

There is something about investing in India that most investors are not aware of. INTO INDIA is pleased to bring this important statistic to you.

India is a rare market that has delivered double digit annualised returns in USD terms consistently over a 5, 10, 15 and 20 year time frame.  Even the US has not done that, falling just short over the 20 year time horizon.

Why is this happening?

This startling fact was drawn to the attention of INTO INDIA by Anish Mathew, Chief Executive Officer & Chief Investment Officer, Sundaram Asset Management Singapore Pte Ltd.

Anish explains – “There are a couple of key reasons for this in my view.  India is a capital scarce country and hence cost of capital has always been high in India. 

“This has resulted in corporates being generally disciplined about their capital allocation decisions which in turn has benefited their shareholders over the longer term. 

“Secondly, the correlation between economic growth and corporate profits is the highest amongst its EM peers.  Studies have shown that over a 20 year period, it is around 0.62. 

“As the Indian economy has grown at an average of 6% since 1980, corporate profits have benefited, thereby underpinning the performance of the Indian market over the long term,” he said.

For those who love the stats:

The MSCI INDIA Net Total Return USD Index:

5 years – 11.92%

10 years – 10.06%

15 years – 10.42%

20 years – 11.04%

Makes INTO INDIA wonder – are we missing the India investment opportunity?

Australian banker says “this is India’s century”

This is the best, strongest vote of confidence in India from one of Australia’s leading corporations.

Mark Whelan, Group Executive at ANZ: “The time is very much appropriate to grow here. If you look at the basics of the Indian economy and where its place is in the world, this is India’s century”.

Rufus Pinto, Country Head, India, Australia and New Zealand Banking Group, outlined the rapid recent growth of ANZ in India: “ANZ India started our Institutional Banking operations in 2011. 13 years of existence across three branches today with over 80 bankers supporting the top Financial Institutions; Local Large Corporates and MNC’s working together with our home markets of Australia and New Zealand, and ~30 markets in our global network providing our clients a seamless agile offering.

“ANZ in India today house almost 20% of our global workforce, with our Global Capability Centre in Bengaluru,” he said.

This is change on a grand scale for a leading Aussie company.

Yes, this is India’s century.

Time to get on board?

Jasmine Batra and AICC outlining a thoughtful way to enter the India market

Two organisations that advocate a “more thoughtful” way to enter the Indian market came together last week in a wonderful seminar providing some super advice.

First was the Australia India Chamber of Commerce (AICC) which hosted the event and their Chair, Chris Mooney, put the case for the chamber’s National Industry Groups doing well researched and sequenced steps to engage with India. Each group does research for a white paper, builds a community and knowledge group around it and leads to well prepared India missions.

Second was the keynote speaker, Jasmine Batra from Arrow Digital, who have a program called “The Big Leap” taking clients through a 12 month program of understanding and entering India. INTO INDIA has long advocated that slower market entry produces superior long term results – a strong alternative to the traditional Aussie hasty transactional approach. We love “The Big Leap” concept.

There are three major factors that make India today a very special market – first, the young population with an average age of 28; second, the rise of the tier 2 and 3 cities, including their specialisation, three, India’s global leadership in rolling out digital infrastructure that is transforming business and society.

Jasmine talked about importance of Food, Festivals and Family when thinking about India. “Family” includes what she called “the crazy rich” such as Tata, Ambani and many more. But it also goes right down to small community business families. Your journey will interact at all levels at some time.

Reducing risk is vital. There are three steps you can take. First, understand the cultural context. Second, do market research and find local partners. Third, network community and do due diligence.

In conclusion Jasmine Batra said you should get over there, get around and get partners. By research and regular visits, your more thoughtful engagement with India will produce results.

La Trobe University very kindly provided the venue.

CONTACT AICC

Contact Jasmine Batra

https://arrowdigital.com.au/about-us

What’s in a name? Is it “India” or “Bharat”?

What’s in a name? India or Bharat?

Many commentators believe Indian PM Modi will bring on a change of India’s name to Bharat. INTO INDIA thinks this most unlikely.

Modi will win either way, vote or no.

PM Modi will, in a very Indian way, continue to use the two names side by side.

You see, things do not have to be resolved in India – and both sides can have their day. Ambiguity and paradox are part of Indian culture.

“Bharat” is the Hindu name for the country, so PM Modi appeals to Hindus every time he uses it – such as on menus and nameplates at the recent G20 meeting he hosted in New Delhi last September.

Many attendees thought this a signal that a name change was on the cards for India. Wrong. Just by using both, he continues to create distance between the nation and its colonial past.

Bharat is already a name recognised in India’s constitution.

With India voting in a general election in March and April, we will no doubt see more banners displaying Bharat.

PM Modi knows that getting a name change done is a tough call, requiring a constitutional amendment with a two-thirds majority in both houses of parliament.

So, when it comes to a name, two is better than one. India and Bharat.