Reflection on Finding an Emerging Market for Call Center Services

            The U.S multinational corporation is specialized in call center services and it is important for me as a Strategist to look for any emerging markets, where the company’s services can be expanded as well as outsources, so that businesses can experience more growth as well as costs can also be reduced. One of the best opportunities was to reach the emerging market of India, as it is one of the growing economies of the world with extensive population to get cheap labor and other facilities. But fact of the matter is that company has missed the opportunity by being too late to reach this market. Now, things have completely changed in Indian market as many multinational corporations have made their mark in their fields, and it has become extremely difficult for other companies to expand their reach to the Indian market. The competition is ever so high and it is hard for a new entrant to compete with already established businesses and services in India.

            Keeping this situation in view, the responsibility on my shoulder has increased as a strategist for the company as I have to look for more emerging markets, where opportunities are still there. No, I have to find any other relevant emerging market for our call center services. When various markets around the world are analyzed, it was evident that there are many markets, which are emerging in the world, and their future looks bright. So, it is important for our company to find an emerging market, which can help to expand business as well as reduce various costs associated with the business. There are many other Asian countries other than India, which are emerging on the global businesses arena. The Asian aspect is important to be kept in mind as various markets other than India can have similar kind of benefits for the businesses.

            The emerging market selected by me after reviewing the global market is Indonesia, another Asian country with so much potential. The population of Indonesia comes at number four in the world. The country is politically stable and one of the growing economies in Asia. The country was ranked at 72^nd in 2018 with regards to ease of doing business, and this ranking ahs improved a lot as compared to previous years. The country is also member of the World Trade Organization since 1995. As per its economic structure, the services industry is accounted of 45.28% of the total market. The GDP is growing for the country and vast improvements are expected in coming years. The country has been able to attract investors from all over the world and if this pattern continues, the growth rate will immensely improve for Indonesia. The country is currently working on long term its development plan of 20 years, which started in 2005 (HKTDC, 2019)

            If our company will expand its call center services business to Indonesia, it can have various benefits. The country is culturally diverse and it can address cultural differences so that diverse business like call center can grow. Different industries with broad spectrum can be best option for businesses to develop call center in Indonesia. The outsourcing can be a considerable option for a call center as it will have less costs and increased profits for the company. The Call center representatives of Indonesia can understand the diversity of international level and can provide great services to local or international clients. These are some of the benefits for call center services are good enough to conclude that Indonesia is the best emerging market for our company to expand business outside U.S. This market has great potential and opportunities for the business to grow by reducing costs (Callnovo , 2017)

References

Callnovo . (2017). Business Benefits of Using an Indonesian Call Center. Retrieved February 22, 2019, from https://callnovo.com/business-benefits-using-indonesian-call-center/

HKTDC. (2019). Indonesia: Market Profile. Retrieved February 22, 2019, from http://emerging-markets-research.hktdc.com/business-news/article/Asia/Indonesia-Market-Profile/mp/en/1/1X000000/1X00107T.htm