Doing Business Successfully In China

From one of the most successful journalist/businessmen ever to do business inChina comes a blueprint for succeeding in the worlds fastest-growing consumermarket.

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

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

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

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.

Since China's accession to the World Trade Organization (WTO) in 2002, China is now officially fully open for business and may soon be the biggest economy in the world. No one in, or embarking upon, a managerial career can afford to ignore a market that comprises one-fifth of the world's population.Doing Business in Chinais essential reading for the manager or firm setting up a business for the first time in this vital and complex market. Aimed specifically at Western and non-Chinese businesses and managers, this book offers a general framework for understanding Chinese business culture along with a guide for acquiring further knowledge on China. This text is a practical guide to business practices, market conditions, negotiations, organizations, networks and the business environment in China. Alongside summaries of theoretical research,Doing Business in Chinaprovides a perceptual toolkit which will enable the businessperson or student to do business in China and apply that knowledgeback in the West. Building on the strengths of the first edition, this new second edition is fully updated to include new case studies as well as discussion of China's entry into the WTO . It is an invaluable resource for students of international business and management, and practitioners alike.

China has changed dramatically since the first edition of Doing Business in China was published in 2000, but the second, third and now this fourth edition have kept pace with the rapid developments. China is now far more international but the fundamental business culture has not altered greatly. The new edition of this highly successful textbook offers Western and non-Chinese businesspeople a theoretical framework for the understanding of business practices, markets, negotiations, organizations, networks and the Chinese business context. Building on the strengths of the previous editions, the book provides a guide to market entry, managing operations and marketing in this unique social and cultural environment by including: Factors that lead to business success 14 new or revised case studies, including include windfarms, fine wines and new consultancy businesses Discussion of marketing issues, notably products, pricing, distribution, advertising and promotion Dos and don’ts when choosing business partners and negotiating Guides to further resources in local cultures to help businesses tailor their strategies to local conditions. Offering a fresh look at the evolving marketplaces and their interactions with government and the army, the fourth edition of Doing Business in China will continue to be the preferred text for international students of Chinese business and management studies and for practitioners with an eye on China.

Introduction : why we wrote this book. 1. Understanding and managing China-specific issues. 2. China holds lessons for a globalized world -- ch. 1. Chinese business climate. 1.1. Land of golden opportunity or corporate quagmire? 1.2. From manufacturing base to competitive market. 1.3. More demanding head offices. 1.4. A welcoming business climate ... 1.5. ... Or the heavy hand of the state? 1.6. The wild east. 1.7. What you as a manager can influence -- ch. 2. Differences and similarities. 2.1. Sources of some differences from other markets. 2.2. Some "China" factors with global relevance. 2.3. Common myths about China. 2.4. A diverse and heterogeneous market. 2.5. Do You really need to be in China? 2.6. Common sense solutions -- ch. 3. Key concepts of Chinese business culture. 3.1. Face - making other people look good. 3.2. Giving, and saving, face. 3.3. Guanxi - business relationships. 3.4. Government relations. 3.5. Business etiquette. 3.6. Negotiating in China -- ch. 4. The language challenge. 4.1. Language is and will remain an issue. 4.2. Make sure your interpreter understands the business. 4.3. Beware of the "confidant trap". 4.4. Checklist for non-Chinese speakers -- ch. 5. Qualities of the right expatriate manager. 5.1. Send your best people. 5.2. Professional qualities. 5.3. Personal qualities. 5.4. Long-term commitment -- ch. 6. Company setup. 6.1. Geographic considerations. 6.2. Development zones. 6.3. Legal structure. 6.4. Finding and managing business partner relationships. 6.5. Due diligence. 6.6. Consultants -- ch. 7. A winning local team. 7.1. A human resource-scare enviroment. 7.2. Characteristics of the Chinese workforce. 7.3. Find the best candidates, trust them, train them, and promote them -- ch. 8. The right corporate culture. 8.1. You cannot fake it. 8.2. Culture is especially important in China. 8.3. Invest heavily upfront. 8.4. Actively develop the culture. 8.5. Do not rush localization. 8.6. Guard against corruption. 8.7. Culture and corporate brand. 8.8. Security. 8.9. IPR protection -- ch. 9. Right business focus. 9.1. Clear business focus drives a strong corporate culture. 9.2. Market size and maturity. 9.3. Speed of change - Peter's story. 9.4. Distribution is a major bottleneck -- ch. 10. Support your frontline sales organization. 10.1. Production with or without local sales? 10.2. Establishing a sales organization. 10.3. Recruiting frontline sales people. 10.4. Training, developing, and retaining sales people. 10.5. Point-of-sales promoters. 10.6. Motivating the sales organization. 10.7. Getting paid. 10.8. Checklist for collecting payments -- ch. 11. Marketing to China. 11.1. The ear to the ground - understanding Chinese customers. 11.2. Product portfolio. 11.3. "Very cheap, very cheap"--Pricing strategies. 11.4. Why brand is so important. 11.5. PR and advertising. 11.6. Public relations. 11.7. Guanxi and marketing in China. 11.8. Branding with Chinese characters. 11.9. Brand names make a difference. 11.10. Chinese is unique. 11.11. Mainland China, Taiwan, and HK. 11.12. A few steps to successful marketing in China -- ch. 12. Successful execution demands top management attention. 12.1. Execution requires high-level, hands-on senior management attention, and follow-up. 12.2. You need to create a trusting and accepting culture. 12.3. Attaining hands-off. 12.4. Managing in downturns -- ch. 13. Dealing with head office. 13.1. Managing expectations. 13.2. Ensuring support. 13.3. Communicating and educating