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Chinese-English company name index -- Company-industry index -- Industry-company index -- Introduction -- A guide to the top 100 companies in China -- List of abbreviations -- List of contributors -- About the editors.
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.
Fortune Makers analyzes and brings to light the distinctive practices of business leaders who are the future of the Chinese economy. These leaders oversee not the old state-owned enterprises, but private companies that have had to invent their way forward out of the wreckage of an economy in tatters following the Cultural Revolution. Outside of brand names such as Alibaba and Lenovo, little is known, even by the Chinese themselves, about the people present at the creation of these innovative businesses. Fortune Makers provides sharp insights into their unique styles -- a distinctive blend of the entrepreneur, the street fighter, and practices developed by the Communist Party -- and their distinctive ways of leading and managing their organizations that are unlike anything the West is familiar with. When Peter Drucker published Concept of the Corporation in 1946, he revealed what made large American corporations tick. Similarly, when Japanese companies emerged as a global force in the 1980s, insightful analysts explained the practices that brought Japan's economy out of the ashes -- and what managers elsewhere could learn to compete with them. Now, based on unprecedented access, Fortune Makers allows business leaders in the United States and the rest of the West to understand the essential character and style of Chinese corporate life and its dominant players, whose businesses are the foundation of the domestic Chinese market and are now making their mark globally.
This is the first major study in Chinese business history based largely on business's own records. It focuses on the battle for the cigarette market in early twentieth-century China between the British-American Tobacco Company, based in New York and London, and its leading Chinese rival, Nanyang Brothers Tobacco Company, whose headquarters were in Hong Kong and Shanghai. From its founding in 1902, the British-American Tobacco Company maintained a lucrative monopoly of the market until 1915, when Nanyang entered China and extended tis operations into the country's major markets despite the use of aggressive tactics against it. Both companies grew rapidly during the 1920s, and competition between them reached its peak, but by 1930 Nanyang weakened, bringing an end to serious commercial rivalry. Though less competitive, both companies continued to trade in China until their Sino-foreign rivalry ended altogether with the founding of the People's Republic in 1949. Debate over international commercial rivalries has often been conducted broadly in terms of imperialist exploitation and economic nationalism. This study shows the usefulness and limitations of these terms for historical purposes and contributes to the separate but related debate over the significance of entrepreneurial innovation in Chinese economic history. By analyzing the foreign Chinese companies' business practices and by describing their involvement in diplomatic incidents, boycotts, strikes, student protests, relations with peasant tobacco growers, dealings with the Kuomintang and Chinese Communist Party, and a host of other activities, the author brings to light the roles that big businesses played not only in China's economy but also in its politics, society, and foreign affairs.
This text tells the story of China's emergence as a major economic power and the impact this will have on world business. It is an executive summary of the opportunities for business in one of the largest markets in the world.
Multinational companies have been doing business in China for over 25 years, with their presence and manning of their operations varying over time. Some mistakes of managing businesses are strikingly common and detrimental. This book explores those mistakes providing guidance that will help readers become more conscious and avoid repeating them.
China has hundreds of thousands of businessmen and women who are driving the fastest sustained national economic growth rate of any country in world history. After decades of being held back by their country's socialist history, the Chinese people are moving forward with the force of water bursting from a broken steam pipe. The intensity of their aspirations, joined with the plans of the government and the presence of the country's hundreds of millions of ordinary people, means that future developments in China will surpass even those of the recent past—and in an extraordinary manner. At the same time, the integration of Chinese business with global business is accelerating, meaning that no major enterprise or financial institution can avoid doing business with China, any more than they can avoid the United States. Success in China, either for a local entrepreneur or a global multinational, is now enough to transform a company's performance worldwide. This book explains the changing nature of China's business environment, its increasingly complex relationship with the rest of the world, and the global business. The China Strategy is uniquely positioned to help business leaders and other observers make sense of China. It provides a holistic view of the Chinese business environment, looking at consumers, competitive enterprises, the government, integration with the rest of the world, and the ways these elements interact. This book is thus the first to lay out a framework that puts together the different (and seemingly contradictory) trajectories of China's future. It shows how change is taking place in non-linear fashion: some factors (like Chinese entrepreneurship) are expanding exponentially, while others (like the value of China's labor arbitrage) may be reaching a plateau. And it shows how to build and execute a global business strategy in light of these changes. During the next few years, successful American and European businesses may have to move to become global businesses, incorporating China in particular into their core identity because it is the fastest-growing world hub of economic activity. They will need to become familiar with the Chinese financial systems, as well as its consumer markets, innovation capabilities, and labor force. These leaders could have no better guide than The China Strategy.
Focusing on the domestic appliance industry, this book examines the formation and evolution of industrial policies in China, at both the local and the national level.
China has become the world's second biggest economy and its largest exporter. It possesses the world's largest foreign exchange reserves and has 29 companies in the FT 500 list of the world's largest companies. ‘China's Rise' preoccupies the global media, which regularly carry articles suggesting that it is using its financial resources to ‘buy the world'. Is there any truth to this idea? Or is this just scaremongering by Western commentators who have little interest in a balanced presentation of China's role in the global political economy? In this short book Peter Nolan - one of the leading international experts on China and the global economy - probes behind the media rhetoric and shows that the idea that China is buying the world is a myth. Since the 1970s the global business revolution has resulted in an unprecedented degree of industrial concentration. Giant firms from high income countries with leading technologies and brands have greatly increased their investments in developing countries, with China at the forefront. Multinational companies account for over two-thirds of China's high technology output and over ninety percent of its high technology exports. Global firms are deep inside the Chinese business system and are pressing China hard to be permitted to increase their presence without restraints. By contrast, Chinese firms have a negligible presence in the high-income countries - in other words, we are ‘inside them' but they are not yet ‘inside us'. China's 70-odd ‘national champion' firms are protected by the government through state ownership and other support measures. They are in industries such as banking, metals, mining, oil, power, construction, transport, and telecommunications, which tend to make use of high technology products rather than produce these products themselves. Their growth has been based on the rapidly growing home market. China has been unsuccessful so far in its efforts to nurture a group of globally competitive firms with leading global technologies and brands. Whether it will be successful in the future is an open question. This balanced analysis replaces rhetoric with evidence and argument. It provides a much-needed perspective on current debates about China's growing power and it will contribute to a constructive dialogue between China and the West.
The 46 original case studies featured in this book demonstrate that in many business sectors, local people and foreigners are responding to the challenges of achieving business success while competing with integrity. Cases are divided into eight sub-topics discussing internet and social media issues, labor issues, corporate social responsibility, product and food safety, Chinese suppliers and production, environmental issues, corporate governance, as well as business and society in China. Each case is followed by a discussion section, with questions to prompt reflection. This book is a valuable resource for students of International Business and Management, as well as entrepreneurs and business managers working and doing business in China.