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May 8th, 2008 by China Business Success Stories
By Jocelyn Eikenburg
“I hired a student from a local university to do my translation…and it ended up hurting my reputation.”
This was the story I heard from a business contact I met with a couple of weeks ago. He works for a large chemical manufacturer with a presence in China, and they needed their website translated into Chinese. His choice was to hire a local student from China for the job. Once he presented the translation to his Chinese business partners, they weren’t impressed — the errors actually made him and his company look less professional in their eyes. Read the rest of “What does your Chinese translation say about your company? You may be surprised…” or post a comment
May 7th, 2008 by China Business Success Stories
Wholly Foreign Owned Enterprises
By Gregory Sy
Wholly Foreign Owned Enterprises (WFOEs) or limited liability companies whose investors are purely foreign are quickly becoming the most popular method of foreign investment in China. While foreign companies once thought (and were often compelled by laws) that a local partner was necessary to operate business in China, this is increasingly no longer the case in a wide range of industries.
Characteristics of WFOEs:
- Between one to fifty shareholders
- Restricts the right to transfer shares
- Prohibits public offering of shares
- Equity is divided based on contribution to registered capital and not allocation of shares
- Liability is limited to the amount of registered capital contributed Read the rest of “China Business Vehicles: Part II” or post a comment
May 6th, 2008 by China Business Success Stories
By Brian Fenerty
Building a talent pipeline is not easy in China and you will need all the help you can get.
Those who get to know you or to know about you through a third party grant you a higher level of confidence, credibility and loyalty. According to Dr. Robert Cialdini in his amazing book; Influence: The Psychology of Persuasion, this is social proof in action.
This is precisely why the proper care of candidates is so important to your recruiting efforts. China is currently a high-volume type of place. Many of the recruiting systems in place here are based on the more-is-more philosophy. If you are not finding the candidates you need, get more! The problem with this approach is that it is often implemented at the expense of quality and in a candidate short market like this every candidate counts. Read the rest of “Competing for Candidates in China” or post a comment
May 5th, 2008 by China Business Success Stories
By Richard Brubaker
In terms of human resources, the current debate is focused on the continued need for multinational corporations in China to increase hiring of local staff, particularly for operations management, while decreasing or completely removing expatriate staff. Reasons for this shift away from expatriate staff include the high cost of salary and benefit packages, questionable value (in terms of productivity and ability to drive the business), high failure rates and most recently, the large readily available talent pool of expatriates already based in China (“halfpats”).
Many within China agree that there is a shortage of local talent in the middle management sector. In the past, this was a significant issue as companies had only two options – to hire and relocate expensive expatriate staff from overseas, or inexpensive, inexperienced local staff. Read the rest of “Halfpats: the New Expatriate” or post a comment
May 1st, 2008 by China Business Success Stories
By Shaun Rein
This commentary is based on an article appeared in Forbes
While massive amounts of money is being spent on marketing in the run-up to the Olympics to capture China 250 million strong emerging middle class, unfortunately most marketing campaigns are failing to deliver the results that the sponsors like Coca-Cola or Adidas were hoping for. My latest piece looks at the effectiveness of Olympics sponsorship and whether or not it is helping companies win the hearts, minds, and wallets of China’s middle class. Some of the results were surprising:
1) the vast majority of respondents said that they did not care who the official sponsor was when trying to make a purchase and in most categories people had little idea who the official sponsor was. Instead, consumers were more concerned with the quality and safety of the product and how the brand image fit with their lifestyle. Read the rest of “Beijing Olympic Sponsorship’s A Waste” or post a comment
