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BARTECBARTEC
INTERNATIONALIZATION OF A HIDDEN CHAMPION
Reflections on the BARTEC Case
Dr. Ralf KösterCEO BARTEC GroupJanuary 16th 2012, TU Berlin
Agenda
I I t d i th BARTEC G
From Hidden Champion to Global MasterFrom Hidden Champion to Global Master
I. Introducing the BARTEC Group
II. Reasons for Internationalizing Why?g
III. Organizing for Internationalization
y
What?
IV. Managing Internationalization How?
V. Conclusion
2January 16th 2012, TU Berlin
BARTEC at a Glance
BARTEC –Worldwide leading in Safety Technology for hazardous areasEmployees………………... 1.500
Sales (Business Year 2010/11) …… 237,7 Mio. EUR
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BARTEC´s Mission Statement
BARTEC is the leading, global provider of high-quality, industrialsafety technology for use in explosive hazardous areas and related areas
regulated through directives, standards and certification procedures.
4January 16th 2012, TU Berlin
BARTEC´s Core Competencies & Unique Position
Concentration on Ex-Market:High levels of applied technical knowledge/experience
Global competencies in norms/international certification proceduresNo comparable product portfolio (worldwide coverage) among competitors
SystemsComponents/Products Engineered Solutions
... SystemsComponents/Products Engineered Solutions
Pioneer: From component manufacturer to provider of complete systems and engineered solutions in close cooperation with customers & certifying bodies.
5January 16th 2012, TU Berlin
BARTEC´s End Markets
Equipment manufacturing (OEM) Chemical industryOil & Gas
Safety technology is required in plants where flammable substances in the form of oil, gas or dust may create explosive atmospheres:
Equipment manufacturing (OEM) Chemical industryOil & Gas
OEM/Gas pump Pharmaceutical industryOil & Gas/Refineries
(as % of sales)
Mining Aviation Power plants/renewable energy
OEM/Petro logisticOil & Gas/Off shore
6January 16th 2012, TU Berlin
Customer Groups
Within our markets, we have strong and stable relationships with a well diversified and prestigious customer base.
End Users (Plant Operators)( p )
Engineering ProcurementEngineering, Procurement,Construction Companies
Original Equipment Manufacturers(Machines, Systems, Instruments)
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BARTEC Safety Technology
BARTEC operates four highly synergistic business units, leveraging the core competencies and sharing common technologies.
Control & Connection Equipment Measurement Systems
Analyzer and Measurement Systems
Electric HeatingTechnology MiningExplosion
Protection
Automation Technology
Measurement Systems
Automation Technology
Process Analyzers
Communication & Security Systems
Share ofS l
8January 16th 2012, TU Berlin
Sales:(BY 2010/11)
Integrated Solutions for Oil and Gas Industries (Example)
BARTEC supplies essential safety technology solutions for the complete oil value chain!
Oilvalue
RefineriesDrilling / Off-shore Tank farm Logistic / fuel station
value chain
Control stations Analyzers,control stations
Heating technology,mobile computers
Visualisation, measurement technology
BARTECkey
productsproducts
9January 16th 2012, TU Berlin
Integrated Solutions for Natural Gas Industry (Example)
BARTEC supplies essential safety technology solutions for natural gas distribution chain!
Exploration / liquefaction Transportation / storage / gasification Distribution / gas fuel station
C t l t ti i ti & h ti t h l A l & t tControl stations, communication & heating technology Analyzers & measurement systems
10January 16th 2012, TU Berlin
BARTEC´s Innovation Capability
Proven German EngineeringProven German Engineering
Prix „Les Léonards“ 2005Regula Award 2006expo petrotrans
Innovation Award 2008
AUTOMATION AWARD 2007(SPS/IPC/DRIVES)
Sensor Innovation Award 2006
TOP 10 AUTOMATION AWARD 2011(SPS/IPC/DRIVES)
(SPS/IPC/DRIVES)
R&D Operations100 BARTECians working in Research & Development, approx.210 patents & 10 registered designs in hand; 6 in progressAwarded TOP100 Innovator of German medium sized companies
11January 16th 2012, TU Berlin
BARTEC´s Innovation Capability (Examples)
Ex mobile phonePEGASUS
Ex mobile computerMC
BUS SystemANTARES plus
Quad Band GSM module
Online Tracking System
Co-operation with Motorola (worldwide exclusivity for all products)
Innovative automation technology for hazardous areas
Man down function (motion sensor)
High battery capacity
Barcode-scanning & RFID
User friendly touch screen
Strong power supply
PROFINET, MODBUS TCP and Ethernet IP protocolsg y p y
ATEX, IECEx, UL certificates
y
Real-time-data exchangethrough WLAN
p
User-friendly system configuration
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Launch: Q3 2010 Launch: Q4 2010 Launch: Q3 2011
BARTEC´s Locations
Ten production sites (incl. the headquarter in Bad Mergentheim) design and manufacture components, systems and solutions for safety technology:
Menden (GER)Reinbek (GER) Nottingham (UK)
Gotteszell (GER)Bad Mergentheim (GER)
Shanghai (CHN)
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Zagorje (SVN) Sainte-Croix (SUI)Saudasjoen (NO)Shanxi (CHN)
International Sales Organization
BARTEC´s strong global sales network with 28 own sales units and more than 50 representatives guarantees an outstanding dynamic growth:
BARTEC Subsidiaries(>95% of sales)Representatives
14January 16th 2012, TU Berlin
ep ese tat es
International Sales Organization
The international, market-driven technologygroup with more than 250 highly experienced sales engineers
Germany Austria
Switzerland
WesternEurope& Africa
ScandinaviaEastern
Europe & Russia/CIS
Asia Pacific China Middle East & India
North & South America
S1 S2 S3 S4 S5 S6 S7 S8
8 Regional Manager System (VP’s sales), responsibility per region/per country>> More than 95% of BARTEC Sales are generated through our own Sales Subsidiaries<<
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New Markets: New Regions & New Customers
Strong commitments to New Markets complement our Innovation Strategy and our Buy & Build Strategy.gy y gy
New Markets
New Customers & New & Emerging MarketsApplications
New & Emerging MarketsBrazilTurkeyTurkeyIndiaMiddle EastMiddle EastChina
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…
New Markets: New Customers & Applications
BARTEC is ready to serve tomorrow‘s markets!
Bio-Fuels Hydrogen Technology
Coal-to-Liquid Solar Energyq gySelected Future
Customers & A li ti
Gas-to-LiquidDeep Sea Explorations
Applications
Green Chemistry Arctic Sea Applications
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Applications
New Customers & Applications: Biofuels (Example)
BARTEC is ready to serve tomorrow‘s markets!
Biofuels have up to 90% Greenhouse savings over Fossil FuelsSecond Generation Biofuels are produced from non food feedstocks
18January 16th 2012, TU Berlin
Second Generation Biofuels are produced from non-food feedstocks
New Customers & Applications: Biofuels (Example)
BARTEC is ready to serve tomorrow‘s markets!
Major Players are boosting their biofuel production:
Example: Kerosene Mix
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BARTEC – The Hidden Champion
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Hidden Champions
Hermann Simon’s researchHidden Champions are companies largely unknown from theHidden Champions are companies largely unknown from the public, but being world market leaders in their business segmentFirst publication on Hidden Champions in 1996First publication on Hidden Champions in 1996Current bestseller: “Hidden champions of the 21st century –success strategies of unknown world market leaders“
Criteria for a Hidden ChampionNo 1 2 or 3 on the world market or no 1 on its continentNo. 1, 2 or 3 on the world market or no. 1 on its continentRevenue < $4 billion (<EUR 3 billion)Low level of public awareness
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(Simon 2009)
BARTEC – The Hidden Champion
BARTEC is the European leader for„BARTEC is the European leader for explosion protection equipment. BARTEC has more than quintupled its revenues since 1995. Ten yearsits revenues since 1995. Ten years ago, BARTEC had 450 employees; today this figure exceeds 1,300…“
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(Simon 2009)
Strengths of a Hidden Champions
External chances
Close market focus
Internal competencies
ClearStrong
leadershipGl b lGl b l Clear
com-petitionadvan-tages
The core
Ambitious targets
Global Global orientation orientation
Selected and motivated
employees
Customer proximity
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(Simon 2009)
Agenda
I I t d i th BARTEC G
From Hidden Champion to Global Master
I. Introducing the BARTEC Group
II. Reasons for Internationalizing Why?g
III. Organizing for Internationalization
y
What?
IV. Managing Internationalization How?
V. Conclusion
24January 16th 2012, TU Berlin
Why Internationalization?
Here are some common slogans!Attention! Choice, not destiny!
„We have to internationalize or die“ „Expand or expire“
Attention! Choice, not destiny! Survival is more than expansion;
many counter-examples…
Att ti ! I t ti li ti b t li „Our strategy is to internationalize“
Bi i b tt “
Attention! Internationalization can be a means to realize a strategy, but it can hardly be an objective itself (unless you
need an excuse for a costly investment)…
Attention! Benefits of scale will not turn up automatically! Growth is not a driver „Bigger is better“
„It‘s now or never“
p yas such, but the result of doing something right.
Attention! Urgency may mobilize attention, but it also distracts from the „real“ questions: Is this the right time? Am I in the right position?
C I I i li i ?„It s now or never
„Few interesting targets left“
Can I manage Internationalization?
Attention! Don‘t do a dumb deal! Acquisitions should not be determined by the number of targets left, but by business logic.
„Eat or be eaten“ Attention! „Eating“ should not depend on a perceived threat, but on business logic (such as the goal to defend your
position) Also think of alternatives (alliances etc)!
25January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)position). Also, think of alternatives (alliances etc)!
Why Internationalization?
„Our competitors are already doing it“Be aware! Your competitor might have a company specific
internationalization driver! Think focus, not fashion!
„Foreign competitors entering home market“Fix the problems in your own back yard first! „Eye
for an eye“ is seldom a good strategy.
Ask more questions! Make sure it‘s not an excuse for not „Home market saturated/too small“
W j t f ll i li t “
Ask more questions! Make sure it s not an excuse for not becoming more competitive or innovative at home!
Don‘t follow your clients blindly! Understand their reasoning and find „We are just following clients“
„Be where the market is“
Don t follow your clients blindly! Understand their reasoning and find out what is in it for you!
Planting your company‘s flag in all geographies is nice. But does it add value for you? What does it bring extra? Presence is no guarantee for success.„Be where the market is
„Depending on home market alone is too risky“
g g
Hedging risks requires more than just geographic diversification. Attention! As research shows, internationalization may even increase your risk profile!
26January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Why Internationalization?
But:
Despite some truth in the slogans‘ reasoning, NEVER internationalize on the basis of a generalizing motto!g g
As Internationalization is not an end in itself, look at the ,real issues and challenges!
Understand Internationalization as a possible instrument to implement your
’company’s goals!(Verdin & Van Heck 2001)
27January 16th 2012, TU Berlin
Why Internationalization?
The Case (societal/environmental goal):
BARTEC protects people and the BARTEC protects people and the environment through the safety of environment through the safety of components, systems and plants.components, systems and plants.p , y pp , y p
For us, Internationalization is an essential instrument to achieve this goal Protecting people and thethis goal. Protecting people and theenvironment is a worldwide task!
28January 16th 2012, TU Berlin
Why Internationalization?
The Case (economic/business goal):
BARTEC creates value for its stakeholders.BARTEC creates value for its stakeholders.
In times of high competition and keeping in mind the fact that CAPVIS, a private equity fund,
8 % f BARTEC hiowns 85% of BARTEC, this means continuous improvement of
RevenueEBITDA yieldCash yield Now FutureCash yield
For us, Internationalization is an instrument to reach these l !
Now Future
29January 16th 2012, TU Berlin
goals!
Why Internationalization?
The Case Summary: Internationalization is an instrument to implement the firm’s strategy, not an end in itself!
Market Strategy
Growing Markets
Acquisition StrategyProduct Strategy
R&D PipelineChinaMiddle EastIndiaCIS-States
Sales Structures
international Buy & BuildStrategyDe-Invest Strategy
R&D PipelineProduct launchesLocal-ContentBusiness Unit Electric HeatingBusiness Segment BCSS (VODEC)Sales Structures
WholesaleKey-Account-Management
(VODEC)Business Segment CCE (Ex)
BARTEC G th St t
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Growth Strategy
Why Internationalization?
The Case: Assessing the cost aspect of product relocation
Cost Advantages of Product Relocation:Cost Advantages of Product Relocation:
Lower production costs (mostly due to lower wages)L l C t t (P d t) P ibilit
COst Advantages
globali ation
Local Content (Product): Possibility to enter “new” markets at the lower range of product pricingBetter margins due to higher volume
globalization limits Local Content (Sourcing)
…
Limits / Risks:
Lower productivityInefficient material quotaqQuality problemsLonger delivery timesDanger of “Copy Cats”
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Increasing Complexity (e.g. logistics)…
Why Internationalization?
The Case: Assessment of relocation advantages & risks
BARTECBARTEC Relocation ConceptMaximizing Advantages Minimizing Risks
Criteria CriteriaTarget Prod ct
Low marginHi h ( i )
o
Criteria
Market Analysis
s
Criteria
Example: Limit Switch
Target Product
High (price) competitionLabor intensiveLittle automationP
ortfo
li Total market volumeExpected market growth M
arke
ts
High standardizationHigh volumeDocumentation od
uct P Current BARTEC
salesCompetitorsBARTEC lo
bal M
Example: China
Target Market
availableEasy, stable processesLocal markets
Pro Strengths
BARTEC weaknessesChance / Potential
G
p
32January 16th 2012, TU Berlin
available for BARTEC
Why Internationalization?
The Case: Defining Regions (Market Analysis)
E
… in these Regions! … in these Regions! Chi Middl E t I di CIS R iChi Middl E t I di CIS R i
Mitt 2008
Ex China, Middle East, India, CIS, RussiaChina, Middle East, India, CIS, Russia
Ex
Mitte 2008
Anfang 2009Anfang 2010
Ex
Economic recovery? Economic recovery? Yes! But…Yes! But…
33January 16th 2012, TU Berlin
(ZVEI, DB Research)
Why Internationalization?
The Case: Relocation Concept Target Product
Identified target products & targets markets must fit to each other!
Example: Limit Switch
You can lever your internationalization success by respecting the fact that local
t t h t di i !content has two dimensions!
Local Products AND Local SourcingLocal Products AND Local SourcingTarget Market gg
Example: as a supplier also produces in China Direct delivery to
Example: China
g
produces in China. Direct delivery to BARTEC China (instead via Germany) cuts costs by 20% (customs & logistics savings) Immediate Effect!
34January 16th 2012, TU Berlin
savings). Immediate Effect!
Why Internationalization?
The Case: Defining Markets (Example: India)
Market Volume (2009): xxx Mio EURMarket Volume (2009): xxx Mio. EURMarkt Growth: xxx%
xxx
Start up since 2009
xxxk €
35January 16th 2012, TU Berlin
Sales2005/06
Sales2006/07
Sales2007/08
Start-up2008/09
Sales2009/10
Goal 2012/13
Why Internationalization?
Goal Resulting from Market Analysis: M ki BARTEC I di E i i it f th h l ( ll B i U it )
The Case: Defining Markets (Example: India)
Making BARTEC India an Engineering site for the whole group (all Business Units)and extending the local Sales Network.
Team with high expertise Team with high expertise Team with high expertise Team with high expertise and project management and project management knowknow--howhow
Create complete packages Create complete packages and solutions within projectsand solutions within projects
Sales Unit / Office
Ser ice
Technical Support for the Technical Support for the BARTEC Group: Engineering, BARTEC Group: Engineering, Documentation, Drawings etc.Documentation, Drawings etc.
Service
Sales Unit/Branch (new/plan)
Sales Partner (new/plan)
36January 16th 2012, TU Berlin
Why Internationalization?
The Case Summary: As new markets evolve and regions of economic growth shift, internationalization for BARTEC is an instrument to implement its growth strategy.
China Middle East India Russia/CISChina Middle East India Russia/CISNew BranchesLocal Production
Extendes Sales Network
New Branches
Portfolio adaptionNew Branches
BARTEC RUSNew Sales
Structure
37January 16th 2012, TU Berlin
… New Branches…
… Structure…
Strength in Emerging Markets
Asia / India /
Asia / Pacific India /
Middle East
Eastern Europe
Americas
Asia / Pacific
India / Middle East
WesternAmericas
Western Europe
Europe Western Europe
Eastern Europe
Pastxxx Mio. EUR
Presentxxx Mio. EUR
Germany / Austria /
S it l dGermany / Austria /
BARTEC´s business is increasingly driven by sales outside Western Europe
Switzerland Austria / Switzerland
BARTEC s business is increasingly driven by sales outside Western Europe, mainly in Asia (incl. China, India) and Eastern Europe (incl. Russia).Including indirect exports, >60% of all BARTEC products go into operation in emerging markets/regions.
38January 16th 2012, TU Berlin
g g g
Why Internationalization?
The Case: Deepwater Horizon Accident (Gulf of Mexico)
Impact on BARTEC´s business:
Sh t t (2010) b l t tShort-term (2010) - absolute stop:for new projectsthe construction of offshore platformsthe demand for equipment
Mid and long-term consequences:more safety regulation deriving from the accidentmore redundancy of equipment more frequent servicing andq gmore replacement of equipment
H f t t ti l f f t t h l !
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Huge future potential for safety technology !
Why Internationalization?
The Case: VODEC Acquisition (Buy & Build Example)
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Strengthening BARTEC’s position in international up-stream sectors
Why Internationalization?
The Case Summary: Economic growth does not take place homogenously across the world. It differs by regions (e.g. growth in China, Middle East India Russia/CIS) and it is impacted by (regional) exogenousMiddle East, India, Russia/CIS) and it is impacted by (regional) exogenous shocks, e.g. Deepwater Horizon Accident.
Region 1For companies that want continuous
growth, internationalization is an instrument to buffer regional growth cycles and shocks.
Region 2
41January 16th 2012, TU Berlin
„Shock“
Why Internationalization?
Punch line:
Internationalization is a fact of life, but it is not unconditionalis not unconditional.
Focus on how internationalization really adds value to yYOUR company!
What does Internationali ation mean for YOU and YOURWhat does Internationalization mean for YOU and YOURcompany? What is YOUR conclusion?
Identify the specific benefits you are trying to achieve!
42January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Agenda
I I t d i th BARTEC G
From Hidden Champion to Global Master
I. Introducing the BARTEC Group
II. Reasons for Internationalizing Why?g
III. Organizing for Internationalization
y
What?
IV. Managing Internationalization How?
V. Conclusion
43January 16th 2012, TU Berlin
Organizing for Internationalization
What is the most appropriate organizational set-up so that the potential benefits of internationalization are turned p
into reality?
44January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Organizing for Internationalization
Should your firm be organized according to Should your firm be organized according to geographic region product line or function?geographic region product line or function?geographic region, product line, or function?geographic region, product line, or function?
The organizational structure should relate to theThe organizational structure should relate to the benefit you are currently seeking in your international strategy (cost, network, learning)!
Like “Internationalization”, “Organizational design” is an instrument to achieve higher level
lgoals.
> Structure follows Strategy <> Structure follows Strategy <gygyProductionR&D
45January 16th 2012, TU Berlin
(Chandler 1984; Verdin & Van Heck 2001)
Organizing for Internationalization
The Case: Implementing a new organizational structure (2009)BARTEC Group
G l T t d k t bl Change is the only constant in
CEO
Goal: Transparent and marketable organizational structure, which is suitable
for integrating acquisitions.
Change is the only constant in organization. Be ready to re-
organize yourself!
CMO COOCFO
Finance and Controlling / IT Corporate Functions
Business Units ProductionSales & Marketing
Sales Regions Explosion Protection China, Slovenia
… … …
Focus:Orientation towards applications &
Focus:Adapt to specific requirements of local
Focus:Global production (Feeder) according to
46January 16th 2012, TU Berlin
solutions; synergies; cost benefits.clients; “produce global, sell local” relative advantages; cost benefits.
Organizing for Internationalization
The Case: A strong local orientation despite global activities
BARTECSales Organisation
(Regional Responsibility, Country, Region)(Regional Responsibility, Country, Region)
Germany, Austria,
Switzerland
Western Europe and
AfricaScandinavia
Eastern Europe &
Africa
Asia-Pacific, Australie and New Zealand
China India & Middle East
North and South America
S1 S2 S3 S4 S5 S6 S7 S8
Key Account Management (see KAM-Concept)
C C
47January 16th 2012, TU Berlin
CRM Communication Tool, Project Data Base, Documentation, …
Organizing for Internationalization
How should you enter a foreign market? How should you enter a foreign market? What is your vehicle?What is your vehicle?
Entry ModesExportWhat is your vehicle?What is your vehicle?
Different entry modes offer different potential
ExportLicensing/Franchising
Different entry modes offer different potential with regard to the different types of benefit. ENSURE A FIT!
Foreign direct investmentCross border
Modes are not strategies. They‘re instrumentsthrough which strategies are realized!
Cross-border M&AJoint Venture
As benefits may shift over time,
> ADJUST your entry mode! <> ADJUST your entry mode! <
48January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Organizing for Internationalization
The Case: Smartly using underestimated entry modes
Choosing an appropriate legal/organizational entry mode is useless if you have no “real” market access.
> Access to the relevant people is important! <> Access to the relevant people is important! <
For example, the Ghorfa Arab-German p ,Chamber of Commerce and Industry e.V.is THE door opener to the Middle East.
Dr. Ralf Köster, Member of the Board of Directors (Ghorfa)
49January 16th 2012, TU Berlin
Organizing for Internationalization
Punch line:
The pros and cons of the different target markets, entry modes, and organizational charts should be considered in terms of the specific benefits that you are after in your particular situation!
Don’t forget the informal entry modes!
50January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Agenda
I I t d i th BARTEC G
From Hidden Champion to Global Master
I. Introducing the BARTEC Group
II. Reasons for Internationalizing Why?g
III. Organizing for Internationalization
y
What?
IV. Managing Internationalization How?
V. Conclusion
51January 16th 2012, TU Berlin
Managing Internationalization
Internal barriers related to People (examples):If we follow your
The others won‘t accept it.
yproposal, it will be your responsibility!It is obvious that the person
with this great idea is not a practitioner!
We don‘t have the staff.
We don‘t have the necessary knowledge &
f iliti
It will be too difficult!
It cannot be sold.
We will make a fool of ourselves.It is against my
experiences.
facilities.
I don‘t understand why we are the ones to take on
international experiments.
p
We are too busy! We have
tried it before
In principle you are right, but…Let us form a
iLet us sleep in
i !
tried it before.
52January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
g ,committee.on it!
Managing Internationalization
Overcoming the barriers (examples):
Top commitment If you want to motivate the people who implement inter-nationalization in the field, top management must stand up!
Shared rationale Allow people to see and agree on the benefits of internationalization. This requires leadership!
Involvement Make people feel that the strategy-making process is open, consistent, fair, sensitive to obstacles, and allows for their
International
input.
There are few substitutes for life experience! Go forMindset
There are few substitutes for life experience! Go for international training, management exchange, rotation program, etc.
53January 16th 2012, TU Berlin
(Verdin & Van Heck 2001)
Managing Internationalization
Overcoming the barriers: The Case
BARTEC Leadership Training
Leadership Training for BARTEC managers, because securing the benefits inherent in internationalization & diversity require both management and leadershipmanagement and leadership.
Identification and active communication of the “Winners”BARTEC Competitive Environment
Identification and active communication of the Winners , “Loosers”, and the “Rising Star” of the year. For successful drivers of internationalization, this is an intrinsic reward. For opponents, hi i (fi d l ) i 1stthis is a (first and only) warning. 1
54January 16th 2012, TU Berlin
Managing Internationalization
Overcoming the barriers: The Case
BARTEC Communication
Communication is a corporate function that reports directly to the CEO. The company’s magazine EXakt regularly picks up the topic of internationalization.
BARTEC mindsetSetting up of “Mind Change”, a BARTECprogram to integrate all individual actors i t ld id BARTEC f ilinto a worldwide BARTEC family.
BARTEC Job RotationJob Rotation for employees: Learning from the different environments and building up informal communication channels.
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Managing Internationalization
Overcoming the barriers: The Case
BARTEC MeetingsAnnual management/sales meetings: Allowing face-to-face communication between all BARTEC subsidiaries and
ti l
56January 16th 2012, TU Berlin
promoting common goals.
Agenda
I I t d i th BARTEC G
From Hidden Champion to Global Master
I. Introducing the BARTEC Group
II. Reasons for Internationalizing Why?g
III. Organizing for Internationalization
y
What?
IV. Managing Internationalization How?
V. Conclusion
57January 16th 2012, TU Berlin
Conclusion
Unfortunately, there is no blueprint for successful internationalization.
In answering the question “Why?”, managers must focus on the benefits THEY want to achieve for THEIR organizations.
Finding answers to the questions “What?” and “How?” ill th h l t h th i t t lwill then help managers to choose the appropriate tools
for levering the potential benefits of internationalization.
58January 16th 2012, TU Berlin
BARTEC. International. Innovative. Powerful.
Thank you very much for your attention!
59January 16th 2012, TU Berlin