Executive Briefings

Just Because China Has Market Economy Now Doesn't Mean It Has Western Style of Doing Business

In interacting with senior executives of diverse companies doing or seeking to do business in China, one is struck by the common assumption that China's transformation into a market economy should translate into China's adoption of a Westernized style of doing business. Consequently, executives become viscerally annoyed, some even apoplectic, when they find doing business in China is troublesome, irksome and risky. When executives are slow to sense how business and government are intertwined in China with multiple layers of nuance, simplistic thinking can become a self-fulfilling prescription for frustration and failure.

By understanding China's unique structure, culture and political and economic characteristics, savvy CEOs can build a framework for generating meaningful revenues and profits in China.

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In interacting with senior executives of diverse companies doing or seeking to do business in China, one is struck by the common assumption that China's transformation into a market economy should translate into China's adoption of a Westernized style of doing business. Consequently, executives become viscerally annoyed, some even apoplectic, when they find doing business in China is troublesome, irksome and risky. When executives are slow to sense how business and government are intertwined in China with multiple layers of nuance, simplistic thinking can become a self-fulfilling prescription for frustration and failure.

By understanding China's unique structure, culture and political and economic characteristics, savvy CEOs can build a framework for generating meaningful revenues and profits in China.

Read Full Article