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China has a long history of confounding multinational companies. Many firms' strategies for China have failed and companies have been forced to revise plans to take into account the idosyncrasies of the Chinese market. This book examines the strategies that have succeeded and those that have failed, with chapters on the political and economic context, how to assess the market and manage corporate expectations and structures, how to negotiate legal and tax issues, manufacturing and distribution, making acquisitions, dealing with corruption and financial crime, attracting and retaining talent, the importance of establishing and maintaining relationships (guanxi), corporate governance and social responsibility, and the China of the future. With many businesses experiencing sluggish growth or even decline in their traditional markets, China seems to offer the chance of heady growth. For those who get their approach right it does, but there are many obstacles to be negotiated on the road to success. This book explores the difficulties of doing business in China and how to take best advantage of the opportunities that exist to achieve the level of success that every business aims for in China but not that many achieve. "The opportunities for those doing business in or with China may be growing but so are the challenges. This highly readable book, with its dozens of anecdotes of success and failure in the China market, highlights the key issues facing investors and how to deal with them."—Tim Clissold, CEO, Peony Capital and author of Mr. China "Sensible, informed and up-to-date information and advice on operating in China comes along surprisingly rarely. This book is a welcome antidote to the extremes of bullish hype and bearish despair that is typical of commentators on this huge market."—Stephen Green, Head of Research Greater China, Standard Chartered
China may soon be the biggest economy in the world. This book is a practical guide to business practices, market conditions, negotiations, organizations, networks and the business environment in China. It is aimed specifically at Western and non-Chinese businesses and managers.
An insider reveals what can—and does—go wrong when companies shift production to China In this entertaining behind-the-scenes account, Paul Midler tells us all that is wrong with our effort to shift manufacturing to China. Now updated and expanded, Poorly Made in China reveals industry secrets, including the dangerous practice of quality fade—the deliberate and secret habit of Chinese manufacturers to widen profit margins through the reduction of quality inputs. U.S. importers don’t stand a chance, Midler explains, against savvy Chinese suppliers who feel they have little to lose by placing consumer safety at risk for the sake of greater profit. This is a lively and impassioned personal account, a collection of true stories, told by an American who has worked in the country for close to two decades. Poorly Made in China touches on a number of issues that affect us all.
Despite the overwhelming importance of the Chinese economy to the success of Western economies, there has yet to be an examination of why Western companies have had difficulties in doing business with the Chinese. A significant barrier that companies have difficulty to overcome is the effective communication with their Chinese counter parts. This major impediment is caused by no understanding of the cultural differences between the Chinese and Western business cultures. This book offers the solution to this problem: the bi-cultural personnel. The first book presented by a true bi-cultural consultant and researcher who has depth knowledge in the understanding of both the Australian and Chinese markets, culture and more importantly the behavioural pattern of people from both sides of the businesses Provides a totally new perspective for business managers and entrepreneurs to find out how to avoid the same fate as has befallen so many failed enterprises The new perspective is to highlight the acceptance of cultural differences as the focus for devising and implementing successful strategy
From one of the most successful journalist/businessmen ever to do business inChina comes a blueprint for succeeding in the worlds fastest-growing consumermarket.
China is rapidly becoming an economic superpower, yet has a very different business culture that is often misunderstood outside of China. This can result in costly financial and strategic errors. This book confronts the myths about China and Chinese business practice and gives the reader a clear understanding of the culture and how to engage with it successfully.
Navigate China's business culture and etiquette The fun and easy way to grow your business in China This authoritative, friendly guide covers all the basics, from the nuts and bolts of Chinese business and bureaucracy to negotiating with your Chinese partners. You'll also get the know-how you need to manage day to day, from travel tips and advice on converting money to getting past language barriers. Discover how to: * Understand Chinese markets * Develop a strong business plan * Find the right employees * Work with currency controls and the Chinese banking system * Sell and source in China Explanations in plain English * "Get in, get out" information * Icons and other navigational aids * Tear-out cheat sheet * Top ten lists * A dash of humor and fun
This unique book discusses how to manage an organization in China. It is based on the invaluable practical experience of entrepreneur Johan Björkstén, who successfully built a local consulting business with over 100 employees, and Anders Hägglund, a seasoned manager who set up high-growth and highly profitable operations in China for a major industrial multinational. The book provides widely applicable advice based on experiences from different industries, including but not limited to those of the authors.Most books about business in China belong to one of two categories: autobiographical “success stories” or academic treatises. Managing in China goes beyond these genres to provide highly relevant, practical advice and checklists, as well as concrete and illustrative examples from the authors' own experience. Managing in China succinctly explains how historical, cultural and social factors influence today's Chinese business environment, and how managers should take this into account in day-to-day operations.The book focuses on managing in a rapid-growth environment, but also provides advice on how to ensure sustainable operations and profitability in mature industries or a temporary downturn.
If Amazon can't win in China, can anyone? When Amazon CEO Jeff Bezos visited China in 2007, he expected that one day soon China would be a double-digit percentage of Amazon's sales. Yet, by 2019, Amazon, the most powerful and successful ecommerce company in the world, had quit China. In Winning in China: 8 Stories of Success and Failure in the World's Largest Economy, Wharton experts Lele Sang and Karl Ulrich explore the success and failure of several well-known companies, including Hyundai, LinkedIn, Sequoia Capital, and InMobi, as more and more businesses look to reap profits from the demand of 1.4 billion people. Sang, Global Fellow at the Wharton School of the University of Pennsylvania, and Ulrich, Vice Dean of Entrepreneurship and Innovation at the Wharton School, answer four critical questions: Which factors explain the success (or failure) of foreign companies entering China?What challenges and pitfalls can a company entering China expect to encounter? How can a prospective entrant realistically assess its chances? Which managerial decisions are critical, and which approaches are most effective? Sang and Ulrich answer these questions by examining the stories of eight well-known and respected companies that have entered China. They study: How Norwegian Cruise Line's entry into China displays how cultural differences can boost or sink different companies; How Intel, one of the oldest, most respected firms in Silicon Valley, thrived in a country that seems to favor agile upstarts; How Zegna, the Italian luxury brand, has emerged as another surprising success story and how it plans to navigate new headwinds from the COVID-19 pandemic.Through these engaging and illuminating stories, Sang and Ulrich offer a framework and path for organizations looking for a way to successfully enter the world's largest economy. History can be a teacher, and China, a country with 3,500 years of written history, has much to teach.