Business in Foreign Speaking Countries

¶ … Business in Foreign Speaking Countries Developing a Business in China There are many challenges inherent in launching a new business in China, a nation whose language is comprised of dozens of dialects, is accentuated by the wide variation of customs, cultures, and government regulations in the nation as well. Capturing relevant, comprehensive business information is critical for the success of any new business in a foreign country.

The intent of this paper is to evaluate the macroeconomic factors that need to be taken in account in entering the Chinese market, establishing an entry strategy for a proposed manufacturing business, understanding how the manufacturing business in China works, and most importantly, understanding why relationship are critical in the Chinese market.

Taken together, these factors are critical for addressing the launch and development of a new business in China, a nation which is a polyglot of languages and dialects, Main Conclusions For the expansion into China is a risky one, yet through the lessons learned in this analysis, the risk can be minimized but not eliminated altogether. The conclusions of this research are as follows: The growth of competition from multinationals in China will make relationship-building even more critical than it is today.

For any new venture this translates into creating a network of contacts across all areas of the Chinese culture. The highest performing companies in China are those that focus on political and cultural strategies first. The geographical constraints of operating in China are a given. Creating sustainable marketing strategies with getting to know the Chinese customers as well as possible first, and this includes creating as many opportunities as possible to listen to unmet needs.

Focusing on joint ventures is the lowest-risk strategy yet it does force companies in this type of business relationships, if successful, to acquire their join venture partner. Creating a manufacturing strategy in conjunction with government agencies is critical. Creating as many relationships within the Chinese government as possible is also critical, and is the hallmark of best practices in this area. Recommendations The following are the key recommendations for any new venture to successfully sell into the Chinese market.

They include the following: Define programs specifically for capturing the unmet needs of customers and get into the more prosperous cities along the coast of the South China Sea (including Shanghai) to get their feedback on new products as this region leads early adoption of many products that are western in origin. Focus groups and product clinics where feedback from customers is delivered is critical.

Consider getting as much feedback as possible on the product strategy and direction relying on native-speaking employees to gain this insight through advisory councils and customer listening events. Begin now creating a list of companies to complete a joint venture (JV) with. Don't go after an organic growth strategy first; it is very expensive and very much of an unknown to any western-based multinational company. Joint ventures are critical for also minimizing the amount of risk encountered when entering a new market.

Creating a cultural and political series of strategies, along with the go-to-market strategy for each specific Chinese market of interest is also critical. Work with local universities to create learning programs to bring local students and graduates up to speed with the latest technologies and techniques for production and distribution of products set to be launched in China.

Background and Introduction Recommendations Background Macro-Economic Factors influencing entry into the Chinese Market Future Trends Limitations, Conclusions and Recommendations BIBLIOGRAPHY Developing Business in China China presents significant growth opportunities for the growth of manufacturing businesses seeking entirely new consumers and businesses to sell to, and also has created a significant services market as well. Background The intent of this paper is to define explore strategies for expanding the development, sales and service of high technology products including cellular phones and personal digital assistants (PDAs) in China.

This specific type of product has been chosen as it has demand equally across consumers and businesses and can be priced at a point that is attractive to consumers in this nation. With the significant growth opportunities China represents, there are just as many if not more.