TURQUALITY®: an emerging market story to inspire
In order to keep up with the competition, companies from emerging markets feel the urge to invest in building sustainable brands, and that’s where the Government has been stepping in for Turkey over the last 10 years.
What is TURQUALITY®?
Aiming to reach a US$500b export volume by 2023, the Turkish Government has been investing in supporting R&D, innovation, design and branding to boost exports through a subsidy program called TURQUALITY®.*
This inspirational growth story stands as a solid model for other emerging markets, where state subsidies doubled with business know-how through consultancy partnerships reveal promising results.
Considering Turkey’s export volume was only a little over US$63b in 2004, when the program was first launched, it’s clear that the Government has set itself a challenging goal that will signify a dramatic change. As the first and still the only state-subsidized brand-building program, and unlike other conventional export subsidies, TURQUALITY® focuses particularly on increasing branded exports. The goal is to ameliorate the perception of goods made in Turkey by means of improving and enhancing the key processes of program-accredited companies.
In order to make sure that efforts are directed into the right places, companies that apply for this subsidy undergo a series of evaluations, whereby their capabilities are assessed by authorized consulting firms according to industry-specific maturity models. This meticulously built evaluation process ensures the subsidies are only offered to the best and the brightest.
Executive training for the managerial cadres of program-accredited companies is also incentivizing companies toward further progress. This training is custom-made for program participants to improve their skills and vision for the business.
EY’s role in making it happen
EY has been appointed by Turkey’s Ministry of Economy as an authorized management consultant to help companies realize their potential in the international arena. The fundamental presence of consulting firms throughout the process makes sure that TURQUALITY® brands receive the best international consulting support there is. EY utilizes its internationally proven methodologies and experience from a vast number of engagements among a wide range of industries while designing tailor-made solutions for program-accredited companies.
Read the full article to find out more about how the TURQUALITY® program works and its implications for the market.
* http://www.turquality.com/about-us/what-is-turquality-2, accessed December 2014.
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