The European Union has aimed to tap more of the Asian markets’ potential by training European companies and executives with Japan’s and Korea’s business culture.
Despite the great interest for EU companies to expand/export to SE Asian nations like Japan and South Korea, the lack of knowledge for doing business in these countries has proved to be a hindrance.
The EU funded Executive Training Programme (ETP) aims to solve this. The 45-week program provides training for business executives and managers on Japan’s and Korea’s business culture, management and languages. By doing so European companies can be more successful in their business with these Asian markets as well as extend their network in the region.
Though a lot of companies may shrug at the idea of sending someone to another country for the most part of the year, the programme has proved to be beneficial for the participating companies says Jean-Jacques Lennon, the one spearheading the program.To date, the ETP has had 1000 execs and 800 companies who participated. Of the alumni, 65% of the execs became top executives in their companies. The companies on the other hand have reported to have doubled their turnover within the 10 years after the participation in the program.He added that from Jan to October 2012, EU27 exports to Japan and Korea has increased to 15% and 18% respectively. This is a clear proof that there is a great potential for growth for EU companies in the Asian market.
The program has recently been revised. The first 3 weeks are spent in London University for an introductory course. After which they will be sent to Tokyo and Seoul for an in depth course. It will commence with a 12 week internship in a local company. The 2012/2013 cycle includes 46 EU execs from 13 member states. The participants are full scholars granted with €26400 for Japan and €24000 for Korea.