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Will Telstra's bold strategy in Asia soar or suffer? Source: Australian Financial Review, January 17, 2015 TELOK Ayer serves as base camp for Telstra's multibillion-dollar push into the Asian region. As the Asian century enters its fifteenth year, the Australian Financial Review gained access to senior executives and analysts from India to Singapore with a simple question in mind: will Telstra find the profits they need to survive in the region or waste billions of dollars failing? Many of Telstra's shareholders are wary of making big investments in the region. The company this week hit highs not seen since mid-2001 thanks to a mix of prudent management and a record return of money back to shareholders amid tough global conditions. But the promise of Asian riches remains the long-term prize for Telstra as traditional cash streams threaten to dry up. Two major speed bumps block Telstra's path: rival telecommunications companies from around the world and the need to find local relationships that smooth the way with governments, regulators and clients. Telstra's first hurdle is the dominance of other Western telco giants. It is very late to the game compared to the likes of British Telecom (BT). "BT has a very different vibe from us, it's traditional and British," Telstra says. "Those types of British companies have that sort of colonial vibe about them ... wher as I think we're a newer nation and are perceived as something a little different. They don't know how to pigeonhole us. I find it quite refreshing to go in without a lot of emotional baggage. Being an Australian company when you are talking to Chinese customers is a real advantage ... no preconception about what we're really about - except that we are friendly." But locals, rivals and regional analysts question Telstra's chances of success. Doing business in Asia, and especially India, is notoriously difficult. Its bureaucratic red tape and regulatory hurdles are legendary for stopping the world's biggest companies from gaining a foothold in what should otherwise be a lucrative market. "Having money alone and working in the region does not necessarily buy you success." Instead, relationships and an understanding of local customs is what matters when selling telco services throughout the region. "To do enterprise connectivity, you need very good partnerships and local partners." Relationships - something so important that Mandarin has made it a near-tangible currency called "guanxi" - matter a great deal in Asia." Question: In terms of international business ethics, what are the ethical challenges for Telstra in operating in Asia? Explain your