A diasporic community is usually defined as a group of people who have been dispersed from their homeland. Diasporas are often thought of in connection with Jewish people, Irish, Chinese and many other ethnic and religious groups. Diasporas play an important role in many economies through mutually supportive business associations, remittances sent home to emigrants’ families, trading relationships between host and home country, a source of investment for home countries and other benefits between host and home country, such as building bridges of cultural understanding, new skills and new technologies.39 Remittances, for example, can be as much as half of a nation’s GDP, as was the case of Tajikistan in 2015.

Sometimes diasporas are seen negatively when loyalty to the host country is questioned, and the outflow of capital from host countries is seen as having a negative effect on the host economy. Business strategists, however, note that companies should pay attention to diasporas if they are to tap into potential benefits available from diverse communities in host countries.

Business strategists are paying particular attention to the opportunity of borrowing technologies and knowledge from the host to develop new industries in the home country, and taking home country technologies and products and exporting them to the host country. An example of host‐tohome transfer would be the business process outsourcing industry in India where some companies were established by diasporic business people using internet‐based technology originally developed in advanced economies. Disapsoric business people establishing restaurants featuring their home country cuisine and importing food products from their home country are examples of home‐to‐host transfers.

One way to encourage the transfer of technologies and knowledge between countries is for host country businesses to facilitate and encourage the development of business and professional networks among diasporic communities. The Australia Africa Business Council (AABC), African Professionals in Australia (APA) and the Council for Young Africans Living Abroad (CYALA) in Australia are examples of the kind of networks that build businesses opportunities between Africa and Australia. By organising trade conferences, facilitating trade missions, promoting investment opportunities, and providing networking opportunities, the AABC helps build trade and investment. APA facilitates mentoring, scholarships, networking events, runs professional workshops and runs an annual awards program to build the African professional community in Australia. In building the diasporic community, the host nation benefits by helping professionals realise their creative and vocational potential, thus positioning the professionals to facilitate knowledge and technology transfer between Africa and Australia.

Companies that recognise the potential to expand their business internationally through diasporic communities build an ethnically diverse workforce and encourage their members to participate in organisations such as the AAP and the CYALA. Businesses often join organisations such as the AABC as corporate members, to help inform their strategic expansion. Thus, diversity in the organisation becomes a key resource for strategic expansion.

QUESTION

Explain the different business strategies to harness the potential of diasporas from the host country and home country perspectives.

Transcribed Image Text:

「怪味合演 的中心國 卡 月