Posts Tagged ‘China’

1469790828.jpgHenry M. Paulson Jr. has spent much of his career working with leaders in China to reform China’s unique economic system. As CEO of Goldman Sachs, he helped corporatize elements of the state-run economy. As U.S. Treasury secretary, he worked to resolve economic differences with China. Now, as head of the Paulson Institute, he continues to lend his expertise to improve China’s economic system. In Dealing with China, Paulson recounts his history of unprecedented access to China, offering insights to the system’s strengths and weaknesses, and the possible future of this economic superpower.

The author believes that:

  • China continues to undergo tremendous changes due to the economic reforms started by Deng Xiaoping.
  • Political and business success in China hinges on building strong relationships and identifying issues of common interest.
  • Financial reform remains a vital step for China. Additional reforms of its economic system are required for it to fully participate in the global markets.
  • Despite instituting reform, China retains its Party hold on citizens’ lives.
  • The urbanization of China has resulted in numerous and serious environmental concerns.
  • China and the United States must work together to solve issues in a mutually beneficial way.

To learn more, please visit www.bizsum.com

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China’s Super ConsumersWith the rapid rise of China’s economy has come a new class of “super consumers” who are ready to assert themselves the way American consumers have over the last century. Already there are more than 500 million online shoppers in China and some 1.5 million millionaires in a country of over 1.2 billion people. This huge population—four times the size of the United States—presents an enormous opportunity for foreign companies, but the long history of China and a language and culture so different from those in Western nations present many pitfalls as well. As Savio Chan and Michael Zakkour explain in China’s Super Consumers, newcomers to the market must take the time to understand Chinese history and culture and the special challenges of doing business in China.

The authors provide the following tips on doing business in China:

  • Companies that want to succeed in China need to understand its historical culture. Group harmony matters more than individual liberty. Networks of trusted family and friends are so important that Chinese spend a good deal of energy maintaining these networks. Relationships are more complex and agreements more contingent than in the West. Even the language favors nuance and ambiguity over directness.
  • In the last decade, the Chinese consumer has been on a meteoric rise with rapid urbanization and growing disposable incomes. This new wealth, together with the sheer size of the country, has made the Chinese consumer a global force. In addition to the mainland Chinese market, there is a huge demand for the products, services, and experiences Chinese overseas travelers want to buy.
  • Retail channels, supply chains, and marketing in China differ somewhat from those in the West, even when they appear outwardly similar. However, China’s distribution infrastructure does not yet match that in the West. Retail channels tend to be single brand and can be expensive to sustain. Therefore, e-commerce is highly attractive and a low-risk path to entry. For luxury goods, Chinese buyers expect to see flagship stores.
  • China is not really a single market–it is an amalgamation of markets that are defined both geographically and by customer type. Businesses must understand the need to customize their offerings and approaches to serving each of these markets differently.

To learn more, please visit http://www.bizsum.com

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Making Extraordinary Things Happen in AsiaMaking Extraordinary Things Happen in Asia showcases how The Five Practices of Exemplary Leadership formulated from research conducted by James M. Kouzes and Barry Z. Posner are being applied by Asian executives to transform how people work to generate great results. Real-life stories are shared about personal leadership practices from senior managers, many enrolled in the Executive MBA program at the Hong Kong University of Science and Technology. The emphasis is on how leaders set inspiring examples through their own behaviors and relationships with colleagues, employees, team members, and other constituents. The five exemplary practices are modeling the way with clear values, inspiring others with a shared vision, continually challenging existing processes to discover new opportunities, empowering others to act, and encouraging the heart through genuine appreciation of the work of others.

The authors inform readers that:

  • Each individual can be a leader and make a difference by modeling exemplary behavior based on values and developing strong relationships with constituents within an organization in order to make things happen.
  • Leadership can be learned because it manifests as an observable pattern of practices and behaviors and a definite set of skills and abilities.
  • The five practices of exemplary leadership are modeling the way, inspiring a shared vision, challenging existing processes, enabling others to act, and encouraging the heart.
  • Lead by the example of exemplary behaviors to show deep commitment to shared values.
  • Commitment from others cannot be forced through command but must come from inspiring others to enlist in a common vision.
  • Exemplary leaders search for opportunities to innovate, grow, and improve; they continually learn from failures and successes.
  • Leaders must foster collaboration and build trust by strengthening others. When people have the information, discretion, and authority to make extraordinary things happen, they will.
  • Exemplary leaders demonstrate genuine appreciation for individual excellence and seek to create a culture that celebrates values and victories.

To download three free summaries, please visit our site.

Related book summaries in the BBS library: The New Asian Hemisphere, China’s Management Revolution, China Versus the West

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In China Versus the West, Ivan Tselichtchev describes the Western economic crisis that occurred parallel to unyielding Chinese growth and how this created a global power shift. He explains the genesis of China’s stronghold. It refuses to accelerate the appreciation of its currency, it actively invests in Third World countries to gain access to natural resources and garner political clout, and its national resources companies now compete globally. China is also emerging as a technological innovation and R&D center, and has used its financial strength to acquire many Western companies. China’s economic strength allows it to shape global markets to its advantage. The West requires a comprehensive China policy that increases exports, enhances competitiveness in a global market with China-imposed rules, counterbalances China’s influence in Third World countries, and retaliates against China’s unequal conditions for competition.

To download three free summaries, please visit our site.

Related book summaries in the BBS library: The Coming China Wars, Doing Business in China, China’s Megatrends

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Over the past few years, China has transformed itself into a powerful, consumer-oriented culture, and many Western companies have flocked to China to take advantage of this new marketplace. However, entrepreneurs from the United States and Western countries often fail to realize that transacting business in China is a far cry from making deals at home. Ted Plafker, a Beijing correspondent for The Economist, leverages his extensive experience in Chinese culture and entrepreneurship to offer a primer for newcomers who are planning to expand their business into China. According to his book, Doing Business in China, “As many foreign companies have already proven, success in China is possible, but only for those with the patience, persistence, and resources to see it through.”

For a free trial of EBSCO Business Book Summaries click here.

Related book summaries in the BBS library: The Coming China Wars, Getting China and India Right, Superfusion

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Over the past two decades, the Chinese and American economies have developed a symbiotic relationship with one another. China has become the United States’ largest creditor, while the American and multinational companies that went to China in the late 1980s and 1990s have developed a new international system of trade, production, and capital flows. The resulting global economic system is unlike anything the world has known. In Superfusion, Zachary Karabell traces how this integration between the Chinese and American economies developed and questions what the path forward will look like for these two countries. Will the United States try to develop the system for the mutual benefit of America and China, or will it resist the undeniable linkages with China? Only time will tell.

For a free trial of EBSCO Business Book Summaries click here.

Related book summaries in the BBS library: Getting China and India Right, The Coming China Wars, The Quest for Global Dominance

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Google has recently decided to relocate its China operations to Hong Kong and has since rerouted online traffic from its censored Chinese language portal (www.google.cn) to an uncensored Hong Kong site. This move has angered the Chinese government and many of its citizens, but has also been hailed by many Chinese as a positive step toward ending online censorship in the country.

Technology has connected the world in a way never seen before in history. Businesses today have to be more aware of global cultures and economies and how to carry out business across borders. While it is extremely important to understand and respect cultural differences between global business professionals, Google’s current situation also brings up the question of values.

Google’s core tenant is “Do no evil.” The company recently decided that continuing to censor its search results in accordance with Chinese government guidelines did not adhere to this tenant. When conducting business globally, its imperative not to lose sight of the company’s core values. News stories surface all the time about companies moving operations to foreign countries because of more lax labor or environmental laws.

Businesses cannot afford to have integrity in their native country alone. When technology has connected the world to such a large extent, it is important for companies and their leaders to adhere to one set of values that will follow them all over the globe.

Whether or not Google’s actions in China were good or bad, they made the right decision by adhering to their values, and I give them credit for that.

Related book summaries in the BBS library: Just Good Business, The Five Literacies of Global Leadership, Leadership Beyond Reason

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