Saturday, March 04, 2006

Reputation Everywhere

I am off to Istanbul to speak about Reputation in the Capital Markets at a conference sponsored by Capital magazine and the Swedish Trade Council. After much reading about how companies in Istanbul are trying to attract investors, prepare for joining the EU and become a truly global player, I understand why building strong reputations matter so much. Individual countries are not all the same as I keep learning. In Turkey, many of the largest companies (and many of the smallest too) are family-owned. This represents a very different challenge than countries where the companies are mostly held by their shareholders and large institutional investors. However, Istanbul sounds like a very vibrant business climate that is open to business partnerships and reform as its economy has vastly improved from early 2000.

Turkey's reputation has improved. Its accession to the EU in October 2005 -- and a 10 year process ahead of it -- has dramatically signalled to other countries and companies that Turkey is serious about joining the EU way of conduct and freedoms.

The greatest issues facing Turkish companies seem to be corporate governance which I will emphasize in my speech. After reading about the turbulent relationship between Motorola and its relationship with the Turkish Uzan family over its cell phone partnership, I realize that corporate governance needs improvement and better oversight.

More to come on reputation in Turkey.


Anonymous Idil said...

Thanks for putting up the map. It's useful when talking about a country that is a strong US ally, but not as well known to those living in the US.

10:22 PM  
Blogger lgr said...

My visit taught me alot about the incredible potential that Turkey has and how the new world order will shape up in years to come. Turkey will definitely be a force with tremendous power and influence.

10:18 PM  

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