Invest-Québec express, July 2010

Keeping in touch by inter-subsidiary networking

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The specialists at Investissement Québec’s Foreign Subsidiary Department provide the companies they support with strategic information, advice and financial solutions on a daily basis. “Over the years, we’ve developed a thorough knowledge of our clientele and a keen understanding of their situations,” says Sophie Plante, Project Manager. “So it’s only natural that one of our mandates would be to share this knowledge, promote the circulation of information, and encourage communication among the subsidiaries. We’re convinced that it’s essential for them to keep in touch and share best practices so they can grow and become stronger in competing globally.”

That’s why the Subsidiary Network was created a little over a year ago. The network is an informal association that enables subsidiary leaders to acquire new knowledge and adopt strategies based on their peers’ experience. “The subsidiaries are often in touch with people in their industry through sector-based associations, but have little opportunity to interact with other subsidiaries,” asserts Plante. “And, yet, they’d really benefit from doing so, because they have a lot of concerns in common, such as dealing with internal competition and vying for international mandates.”

So far, the network has suggested three events, which have focused on sharing practical experience. Many of the leaders who participated in those events said it was very inspiring to hear colleagues from different backgrounds talk about what was going on in their company. Some borrowed ideas which they have successfully applied to their own business, and others made contacts who can advise them on how to carry out certain projects.

“The workshop held as part of the Conference of Montréal was very much in line with the Subsidiary Network’s activities,” says Plante. “The network was created for and by subsidiary leaders, and we’ll continue to support it by suggesting events that meet their needs.”

	Sophie Plante is a Project Manager with the Foreign Subsidiaries Department. She is responsible for companies from Benelux, Spain, France and Portugal. Tel.: 514 864-7221.

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