If the 21st century is an era in which all global business leaders must become China-hands or lag behind their competitors, The China Executive defines the essential qualities and skills required of such China-hands.
Filling the gaps between a business school education and the China business reality, The China Executive is also a definitive text for business school students, in particular MBA students, around the world.
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We are proud to announce that our title The China Executive has been reviewed by the prestigious Business Voice, the magazine of the Confederation of British Industry (CBI), which is circulated to over 30,000 senior business leaders in the UK.
Western business leaders tend to presume too much and underestimate the difficulties of doing business in China. Taking a few leaves out of Wei Wang's book could help.
By Stefan Stern, Management Columnist of the Financial Times, Special for Business Voice, September 2006.
"China tantalises executives with its promise of riches, but also with the threat of muscular and strengthening competition. How to engage with this fast-growing market of 1.3 billion people - or, as Procter & Gamble has put it, a land of 2.6 billion armpits?
Wei Wang is ideally placed to help. A Chinese national, he took an MBA at Loughborough University in the 1980s, and has been engaged on Anglo-Chinese (or should that be Sino-Western?) projects ever since for multinationals and investment companies. He is managing director of 2W China Investment Consulting, a firm that specialises in advising businesses on their strategic investments in China. (He also runs an online forum at TheChinaForum.com.)
In his book Wang offers sound advice to business leaders planning on making the long march east. His broad message is that we tend to presume too much and underestimate the difficulties for foreigners trying to do business in China. The good news is that there is lots of business to be done by those who take the right approach.
There are four critical skills needed to find a suitable business partner in China, Wang says. First, China is a connections-based society, rather than a rules-based society. Second, you need the ability to interpret both 'analysis- and intuition-based methods', China being a market (and culture) where hard data is only part of the story. Third, choosing a partner well, based on location and your strategic aims, is vital. And fourth, negotiate wisely according to Chinese principles, where 'a contract may seem to be only a draft' as a basis for an ongoing relationship.
Western business schools, Wang says, have concentrated too much on sophisticated analysis and failed to see 'what business really is and how it can be successfully done'. Nowhere is this insight more valuable than in China, where relationships, tact and understanding the concept of 'face' (or public standing, reputation and esteem) are so vital.
The pull of China is stronger than ever but it is important not to be carried away. Huge doubts remain over the solidity of its banking sector. Corruption and bribery are widespread. And despite extraordinary economic growth, exports and inward investment, many foreign firms in China feel they are not always on a level playing field. Where is the protection from intellectual property piracy, and equal access to an open and transparent regulatory regime?
Tensions with China's trading partners are growing, as we saw earlier this year in the 'bra wars' with the European Union. This is a highly complex, if potentially rewarding market. Wei Wang has several important insights to share in this timely, well-informed book."From the Back Cover:
"Dr Wei Wang's new book, The China Executive, emphasises the vital importance, in China, of identifying and working towards common business goals. He advises Western business people how to broaden their cultural horizons so that they can successfully balance Western and Chinese business methods while, at the same time, developing the sound Western management practices which China needs in order to compete globally. As the Chinese economy continues its astonishing growth, this and much other helpful advice, which Dr Wang gives to those seeking to succeed in China, is to be greatly welcomed." Lord Powell, KCMG, President of China-Britain Business Council
"An important and timely book about a topic that will be of interest to all global leaders." Dr Warren Bennis, Distinguished Professor of Business Administration, University of Southern California, and Author of Leaders
"Most executives planning to invest in China or having invested in China would be attracted by the concept of the book. The book should have a good market." Geir Boe, General Manager, Jotun China
"The book will be appealing to many who are in the business circle investing or interested in investing in China. With his deep understanding of both Chinese and Western cultures and first-hand experiences of running joint ventures in China, the author presents in the book background, reasoning, analysis and history and philosophy of managing a successful 'family life' when investing in China." Dr Peter Chang, President and CEO, Clean Asia Renewable Energy & Former President and CEO, Asia Power
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Buchbeschreibung 2W Publishing Ltd, 2006. Taschenbuch. Buchzustand: Gut. 272 Seiten 2006, broschiert, einige Seitenecken geknickt, ($ 23337) IF-1ZTI-CVII Sprache: Englisch Gewicht in Gramm: 431. Artikel-Nr. 52478