How To Win Locally by Jack Ma; Symbolism of Name
According to Fortune, Alibaba’s Jack Ma had three pieces of advice for businesses that want to do business in China. They as follows:
- Show some respect. “Respect the culture, respect the market, respect the consumers.”
- Send great entrepreneurs to lead your business in China, not professional managers. “Those people make the boss happy, they do not make the customers happy.”
- Have patience. “Starbucks was here for 18 years. First nine were horrible; last nine were great.”
I can say that what Mr. Ma noted here could also apply to Nigeria and Africa. We need to be entrepreneurial, show respect to the local culture, and then have patience because most times it takes time for things to work.
Symbolism of Name
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What is in a name? You may ask! It turns out that, for many, there are many things. Walmart Stores has cut off the 'Stores" in its name. It is now Walmart. Sure, you do not need a store any more to shop in Walmart.
Wal-Mart Stores dropped the ‘Stores' from its official name, in a symbolic move that reflects its evolution beyond brick and mortar retail. CEO Doug McMillon said in a statement that he felt the name change was needed to be "consistent with the idea that you can shop us however you like as a customer."
Anything it will take to remove any friction in the thinking of the customers, do it.
Wow! Make the idea of what you are and what you do Very Clear. Guide your customer's Perception of You.
Thanks Prof., for the article. I particularly enjoyed this- "Anything it will take to remove any friction in the thinking of the customers, do it." Perception drives everything in my opinion, therefore if you want to change the narrative, you need to change what you are projecting.
I must commend the rate at which you create content, it's unparalleled. Good job Prof.
