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Business Essay Samples: The One about Doing Business with Chinese
Why Is It So Hard To Do Business With Chinese?
As the world moves on from economic crisis, Chinese economic growth is in a danger of declining. Beijing has announced earlier this year that Chinese economic growth had already dropped to 6.9% in 2015. The American Chamber of Commerce in Shanghai on their annual survey of member companies has released this year’s report, according to which, only 61% of the companies reported revenue growth for 2015, unlike in 2014 the percentage of increase in revenue was up to 75%. Meanwhile, the number of businesses with declining revenue more than doubled, from 23%. Also, most of the companies are anticipating 2016 revenue below their 2015 results.
So why is it so hard to do business with Chinese? To stop economic decision problem, the Chinese government has launched some projects which encourage consumers to favor domestic enterprises. The foreign companies are struggling with project bidding and even being allowed to open branches in the same place as local businesses.
Another huge problem is the standards assessment. Standard assessment is a rule concerning the product manufacturing process. Ironically enough those rules are very complicated in China, but only for foreign companies. The primary goal of this is to promote local competitors.
Intellectual property right enforcement as well makes it hard to do business with Chinese although the government has improved it quite a bit.
But still, number one issue remains the same as why it is so hard to do business with Chinese. The lack of skilled workers. In other words, the demand of a skilled worker is higher than the request for supply. And this refers to all kinds of professionals from managers to factory workers.
Business Essay Samples: Innovative Chinese Businesses
Which Innovative Chinese Businesses Will Succeed in the West?
While Chinese businesses are not generally recognized for their innovation, there are in fact companies that are changing not only the business landscape in China but may in fact impact business in the West as well.
First, there is Tencent. Even though it is actually a holding company of media, entertainment and internet businesses, what makes this conglomerate so innovative is actually not any single subsidiary, but an application called WeChat. On the surface this is simply a communication app that enables chat and social media. Underneath though is its ability to allow nearly seamless mobile transactions that may very well change ecommerce in western markets.
One company that leveraged how WeChat mobile technology facilitates communication was Alibaba. Instead of relying on its website to produce sales, this company used a human salesforce with smartphones to connect suppliers and distributors. But what was truly innovative about this titan built by Jack Ma was growing thousands of cottage businesses. Instead of the traditional village infrastructure of China being an impediment to global commerce, this company helped to grow a wave of individual suppliers to the world market.
Another company benefiting from mobile technology is Xiaomi. Their willingness to sacrifice razor thin margins for profits on the back end is similar to the freemium model that has allowed companies like Supercell to profit from giving away their game, Clash of Clans, becoming the number one grossing game in 2015. Similarly, by practically giving away the phone, Lei Jun’s electronics company actually makes most of its profits through sales of paid apps, games, advertising, and other services.
Other Chinese companies to watch include BGI. By becoming the “go to” source for scientists to collaborate on genetic information, BGI seeks to become “a biological Google.” Already their advancements have lowered the cost of sequencing complete genomes from $3 billion in 2003 to only thousands by 2014.
So, to ignore what these Chinese companies are doing is to miss out on the likely source next wave of innovation in the West.
Xiaomi. (2014). Retrieved October 06, 2016, from https://www.fastcompany.com/most-innovative-companies/2014/xiaomi
BGI. (2014). Retrieved October 06, 2016, from https://www.fastcompany.com/most-innovative-companies/2014/bgi
Alibaba. (n.d.). Retrieved October 6, 2016, from https://www.quora.com/topic/Alibaba-company-1
WeChat. (n.d.). Retrieved October 06, 2016, from https://en.wikipedia.org/wiki/WeChat
Tencent. (n.d.). Retrieved October 06, 2016, from https://en.wikipedia.org/wiki/Tencent
Clash of Clans. (n.d.).Retrieved October 06, 2016, from https://en.wikipedia.org/wiki/Clash_of_Clans