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.
As a consequence of aggressive competition, Chinese industries have become increasingly consolidated. While the extent to which emerging local firms can challenge well-established multinational firms varies by industry, there are common characteristics of 'winners' within each firm type. A handful of multinational and local firms emerged victorious by acquiring small, weak, and regional players to become truly national players. During this process, weaker multinational firms were crowded out of the market by stronger multinationals as well as by emerging local powerhouses. The successful local firms that survive competition in China have global ambitions and venture into international markets, challenging foreign multinational firms in the global marketplace. This book examines how multinational firms grew their operations in China and how successful local firms emerged from the restructuring process, as well the competition between them, in the fierce marketplace of China's economic reform. While anecdotal evidence on this topic is widespread, there exists no comprehensive research. This book seeks to address this gap by rooting its discussion in the author's extensive and rigorous statistical analyses and detailed case studies across five industries: consumer products, beer, telecom, automobile, and steel.
Chinese multinationals have grown in size and increased their global presence dramatically over the last decade. They have emerged as formidable competitors for western incumbents. These firms have instigated profound changes, such as displaced trade and investment flows, new business models, and the emergence of a new geography of global innovation. In a single volume, The Era of Chinese Multinationals captures the forces driving the disruptive growth of Chinese multinational corporations. Following a presentation of the surge of Chinese companies, the book turns to corporate characteristics of those firms and how they compare with western multinationals in terms of revenues, profits, branding, and business strategy. The book uses data and case studies to depict the relevant issues with the goal of providing insights to global executives on collaborating and competing with Chinese companies. Covers the Chinese government's expansionist policies and Chinese firms' new role as a global acquirer of companies Examines common characteristics of Chinese companies and their efforts to make China an innovation hub Illustrates its analysis with case studies and interviews with corporate executives and experts in multilateral institutions
This book examines the rise of Chinese companies in international markets during the last two decades of rapid expansion of the Chinese economy. The fruit of a collaboration between two leading business schools, HEC Paris and the School of Economics and Management of Tsinghua University, it provides a comprehensive overview of the strategies of Chinese multinationals in terms of international marketing and branding, M&As and international joint ventures, management of technology, organization and human resource management, etc.The strategies of several well-known companies are described in detail, including Baosteel, Bird, Haier, Hisense, Huawei Technologies, Lenovo, Nuchtech, Petrochina, TCL, Tsingtao Brewery, Wahaha, Wanxiang, etc.
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.
Straight from the China CEO: Advice on leading operations in the world’s fastest-moving, highest stakes market. 25 top executives leading high-profile multinational companies in China, as well as seasoned and respected China-based consultants, give their front-line advice on succeeding in this market. Soaring spending power among the world’s largest consumer population, radical digital transformation creating a cash-less, ‘always on’ society, severe generation gaps – these are just some of the factors which have completely transformed China since 2006, the year when the first volume of China CEO was published. And these are three of the main reasons the authors have again teamed up to put together this second volume – collecting entirely new content via in-depth, exclusive interviews with the heads of 25 high-profile CEOs of multinational companies in China, as well as a number of highly respected consultants who have built their careers by delivering advice on succeeding in the market. In this book, CEOs and experts share their strategies for overcoming the most pressing issues faced by business leaders in China now, including: fierce competition from strong, globalized Chinese companies; working with the powerful, complex Chinese government; and successfully attracting the nation’s wealthy but fickle and tech-savvy domestic consumers. Top executives and consultants also divulge their secrets for keeping up with China’s astoundingly broad and rapid digital transformation in which the nation is now leading the world in mobile payment, online shopping, social media, Artificial Intelligence, and facial and voice recognition. They also discuss trends including localization of top positions in China, the rise of female top executives in the country and the challenge of attracting the nation’s highly international, purpose driven millennials. Hear directly from the China CEOs of: ABB, AB InBev, Bayer, Bosch, Carrefour, Coca-Cola, IKEA, Korn Ferry, Lego, L’Oreal, NIIT, Mango, Manulife, Marriott, Maserati, Microsoft, Philips, Scania, SAP, Sony, Standard Chartered, Tata, Udacity, Victoria’s Secret (Lbrands Int’l), Volvo, etc. Learn from seasoned China experts at McKinsey & Co, Economist Group, and more Written in a practical, easy-to-read format ideal for busy professionals, educators, and students China CEO II: Voices of Experience from 25 Top Executives Leading MNCs in China is an invaluable resource for any professionals seeking to work in or with China, or executives expanding their responsibilities in China, and those involved in international business, finance or executive programmes.
This book examines a topic of paramount importance to those doing business with China: the impact of personal relationships (guanxi) on business affairs. It shows that the commercial utilization of guanxi with suppliers, customers, competitors and authorities yields significant sustainable competitive advantages. Coverage also assesses guanxi-based business strategies in terms of compliance with legal and ethical standards.
This book presents theories and case studies for corporations in developed nations, including Japan, for designing strategies to maximize opportunities and minimize threats in business expansion into developing nations. The case studies featured here focus on Asia, including China and India, and use examples of Japanese manufacturers. Five case studies are provided, including Hitachi Construction Machinery and Shiseido in China and Maruti Suzuki in India. These cases facilitate the reader’s understanding of the business environments in emerging economies. This volume is especially recommended for business people responsible for international business development, particularly in China and India. In addition, the book serves as a useful resource for students in graduate-level courses in international management.
China has achieved remarkable, sustained economic growth under the policies of ‘reform and opening up’ put into place since the late 1970s. China’s industrial policies have nurtured a large group of firms with high profits and a high market capitalisation. However, few people in the West can name a single Chinese firm. During the modern era of capitalist globalisation firms from the high income countries have spread their business systems across the world. This has presented a profound challenge for industrial policy in developing countries, including even China, the world’s second largest economy. China is unique among large latecomer developing countries in having reached the position of being a huge, fast-growing economy, with a tremendous impact on the rest of the world, but lacking a substantial group of globally competitive firms. This volume explores this paradox. Fully understanding the industrial policy challenge that the era of capitalist globalisation has produced for China is essential for harmonious international relations.
