Supporting local businesses is a no brainer strategy to stir the economy. By buying local, the welfares of traders and producers will improve or able to sustain particularly in trying times like now. Money stays as much as double in the communities when you buy local. Just, simply #belilokal.
But how do you procure services from local firms particularly for corporate companies?
Corporate companies are famous to buy from big foreign service providers. Why? Because they can. As the country progress, the service providers too maturing. However, it is also a perception game where local feels “inferior” and foreign feels “imported” hence “superior”. You know what I am talking about.
Therefore, corporates particularly the buying the committees should pro-local service firms instead of big foreign firms. But, how can you buy local even you have the budget to buy Big foreign services? How about having the best of both worlds yet pro local? Here’s how:
1. Identify and compare optimum quality required for the service. Must have, Good to have and Nice to have.
2. Look at mandatory fulfillment requirements such as paid up capital, project experiences, testimonials & references and outcomes.
3. Strategize procurement – if a small local qualified firm can do the job but you want the big foreign firm to front for quality assurance, tell them both to work together. #smarter #strategy
4. Don’t choose local firm just because you want to squeeze their prices and compared them with big foreign firm. Get both to work together. #smarter #strategy
5. Don’t choose big foreign firm if they refuse/reject to collaborate with qualified small local firms. Regardless of foreign standards, you can always arm twist a little bit to grow your local firms. Get both to work together. #smarter #strategy
6. Give fair autonomy and control to each milestones and deliveries. #smarter #strategy
7. In the next 3-5 years you will develop solid local firms as well as collaborative big foreign firms.
More than a decade ago, I was a junior consultant. Some of my clients shared stories about the importance to support and develop local companies and service firms. They will make sure big foreign firms collaborate with qualified local firms to deliver serious work with their organization. The choice is simple; take it or leave it.
Eventually the local firms grew and the big foreign became more competitive. I don’t see much of this these days neither hear similar stories. The organizations have become so polarized, the divide is wider and the inequality is bigger. What have we become?
This has nothing to do with service quality, it is everything to do with mind quality and compassion ability.
#innovation #management #buylocal #belilokal #growthopportunities #sustainability #SDGs
Brickbats please contact [email protected]