researcher | futurist | activist | thought leader | intelligence source Engaging China: the realities for Australian businesses www.abfoundation.com.au
Jun 14, 2015
researcher | futurist | activist | thought leader | intelligence source
Engaging China: the realities for Australian
businesses
www.abfoundation.com.au
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Australian Business Foundation study
Insights about critical success factors and approaches for doing business with China
Background analysis
25 business case studies
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What’s special about this study
Not a primer, but a reality check
Range of business models, firm sizes and industries
Actual experiences, beyond the hype
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About the project team
Rab MemariInternational Market Analyst
Sara Cheng Manager-Greater China
Catherine Armitage Experienced China Journalist and Writer
Dr Keith SuterInternational Relations Expert and Commentator
Christine Gibbs StewartInternational Trade Specialist
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Business case studies
AltiumANZAustralian and New Zealand Institute of
Insurance and Finance (ANZIIF)Aus-Sino Focus Group Limited (ASF)Babekühl ProductionBigWorldBMDi TUTACEM InternationalCIROA HomewaresDe Bortoli WinesFerguson AustraliaIlum-a-Lite
International Wool Promotions (Interwool)
Johnson Pilton Walker (JPW)Kingold GroupLinatexMammoth MerchandiseMcKay AssociatesMelbourne Business School (MBS)Minter EllisonPlatinum International CargoProfessional Public Relations (PPR)SWA Water AustraliaSmouhaWestray Engineering
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Findings at a glance Massive change Diversity Scale
Agility Fast learning
Cultural differences Relationships Complex, ambiguous and volatile environment
‘Best of Breed’ Adaptable Well-informed business strategy
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Business environment
Culture – saturates all aspects of engagement
Relationships –“guanxi” is pervasive
Government – means business
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Business operations
Talent and skillsThe indispensable need for the right skills and for the local Chinese manager
QualityRaising the bar on quality with clear communication and managing expectations
FinancesChina needs the usual due diligence for financial transactions
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Business operations Intellectual Property
Intellectual property to reflect the wider business strategy – compete on innovation and design
CommunicationGood communication is a vital tool of trade
PartnersThe right partner is an essential element and needs investment of time and effort
Customers and ClientsSelecting the right customer is as crucial as selecting the right partner
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Business opportunities
Manufacturing in China for other strategic advantages, not just low cost
Services success often unrecognised
Different business strategies, but common threads drive success
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Insights
Looking beyond stereotypes
Opportunities for small global enterprises
Success through services
Adaptability in the face of complexity
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Conclusions No one single model, but:
master relationships and culture
be both focused and agile
proficient in the business fundamentals.
Keep up to date with new knowledge on China.
Reality check helps avoid being mesmerized by huge potential.
Capitalise on opportunities for ‘small global enterprises’.
www.abfoundation.com.au