Business and Management
Submitted By kikeuf
How to do business in china
With a Solid economic expansion, coupled with a rapid market transformation and a series of government reforms, mean China the world's second-largest economy is no longer just a country for low-cost manufacturing. It is also an increasingly attractive destination to do business.
Several western companies including global giants such as Starbucks, Volkswagen, Boeing and Procter & Gamble have established a presence in the country.
But despite China's increasing influence, challenges remain for those looking to do business in the country. Intense competition, corruption, business etiquette and language are some of the barriers that can be faced.
In a first time we’re going to talk about a few keys of success of doing business in china, and then we will take the example of Starbucks and his adaptation on the Chinese market.
Here are five things we should know before doing business in China:
A mosaic of markets
China is the world's most populous nation, with its sprawling 1.3 billion people making up a highly diverse market.
There is no single consumer profile, and analysts suggest companies remain flexible and innovative, while understanding how their company would fit in each specific market.
There's no simple answer in China it depends so much upon the specific market and upon the specific characteristic of your own company.
Operating in a country with a history of thousands of years and ways of doing business that go back as far it is valuable to develop insight into China's business culture and social etiquette to avoid misunderstandings that could scuttle deals and harm working relationships.
One key aspect of Chinese culture is the concept of "face."
Entrepreneurs can lose face by insulting someone in public, refusing invitations and gifts or by behaving inappropriately, like losing their temper or crying...