International Business
China Business Meeting
It can be a frustrating experience for western businesses to have business meeting with Chinese counterparts because of the prominent difference in western and eastern culture. The western approach is much more direct while the eastern is almost the opposite way. It can easily lead to failure in reaching the desired agreement if not attaching enough importance to perspective and patience.
Business negotiations in the west usually adopt a much straight forward approach. Each party is trying hard to reach the aims in the shortest time via a direct way. However, negotiating in China needs more input of patience. Usually the first business meeting in China is meant for knowing establishing mutual trust, and it usually has nothing to do with business. Personal relationship is a key aspect of successful business in China and sometimes business deals are reached as per status of the personal relationship.
As to the final decision making, it is usually up to the seniors at the top of the enterprise. Usually, the decision maker would not take part in the business meeting, and the proposals or details would return to the decision marker to be discussed at private meetings by the Chinese sides. After that, the results would be returned to the business meeting later. That’s the reason why most Chinese would say “We will consider it” or “We have to talk to the boss” in the meeting.
Following are some vital mistakes that you should avoid during the business meeting in China.
1. Don’t question your Chinese attendants in public and make them lose “face”.
2. Don’t call their first name without giving permission to. It is better to address a person by his designation and family name. For instance, if you are having business meeting with a president named Liu Neng, it is better to address him as President Liu.
3. Don’t hand out your business card or receive others’ with one hand. It is regarded as polite to use both hands with a smile.
4. Don’t place your chopsticks, pen or other sharp objects at anyone or in front of anyone.
5. Don’t use large body movements or point to others when speaking.
6. Don’t be angry if the Chinese counterparts ask about your age, marriage status, income, etc as it is very common here.
7. Don’t regard the term “yes” as affirmative in all cases. Sometimes the Chinese say “yes” or nod to show that they are concentrated.
International Business Case Study
The international business landscape is changing, and many of the Asian emerging markets have run their course, it’s not that they are running out of steam, but they can’t hold the percentage of growth rate that they’ve had previously, and now they have to work on all the chaos they created by such rapid expansion. Meanwhile, as American companies have spent quite a bit building factories overseas, and outsourcing much of their production, there are also challenges afoot for corporate earnings.
Having low-cost labor and production in other parts of the world makes sense, as corporations can still command a fair price, albeit with increased competition, and score higher profit margins. However doing business in Asia this way is starting to come to a close, that doesn’t mean things aren’t still evolving, because they certainly are, but there seems to be more headwind, and less incentive and fewer advantages moving forward due to the increasing labor costs and labor unrest in these markets. Okay so, let’s talk about this for second shall we?
There was a rather interesting article in the Wall Street Journal on March 14, 2012 titled; “China’s Wage Hikes Ripple across Asia,” by James Hookway, Kuala Lumpur, Patrick Barta, and Dana Mattioli. The article stated; “More Asian governments are pressing businesses to hike wages as a way to prevent outbreaks of labor unrest, raising the specter of higher manufacturing costs for global companies – and the products they sell worldwide.”
Well now, that’s a rather serious issue isn’t it? It seems that with all of our outsourcing and money flow we have inadvertently created inflation in all of these markets, and as they come into their own, and their emerging economies become more developed and evolved they now have to deal with all of the chaos they’ve created, which comes with any rapid growth society and civilization. Instituting minimum wage laws is probably the next, but that also means more wage inflation, which is something they are trying to tame.
Were people better off before the Western world started building factories there, or contracting with locals to build components for all of our products? No, people are better off now with a higher standard of living, but as all good things come to an end, and as their wages increase in price, the Western world may look for opportunities in other emerging markets to build products, or build more of the products here at home using robotics, as the labor rates here are still too high to compete even with a dramatic increase in wages there.
Surely, this will also cause the increase of prices in the products we buy, and as our economy is starting to move ahead, we can expect that since we are still down slightly that there will be consumer pressure on corporations to keep the prices low. This means that corporations may not be able to show the same profit margins as they have in the past, and this changes the entire dynamics of stock price and earnings multiples. Therefore unless the analyst and Wall Street must their expectations, otherwise we could find ourselves pulling back 15 to 18% this year as the stock market readjusts itself to this new paradigm. Indeed I hope you will please consider all this and think on it.
International Business Schools
International business schools are globally acclaimed business schools that offer courses of international quality. These schools are rated high in the quality of education and accommodate students and faculties from different countries. Students enjoy global business capabilities in a wide range of programs. International business schools have corporate partners. Campus interviews are conducted to absorb brilliant students into world renowned companies. These schools also have a big alumni association spread all over the world.
International business schools graduate more than thousand students each year. Fellowships and scholarships are granted to students with academic excellence. Part time and full time courses for master’s degree and doctoral programs are conducted. Executive programs, related to education and finance, develop personal capabilities of students to drive future businesses.
Case study is the common interactive learning method used in international business schools. It meets interdisciplinary needs of actual business circumstances. A large percentage of the school budget is utilized for research purposes linked to the realities of business conditions. A global network of research centres helps to maintain an international scope for research work. International business schools are linked to partner schools from different parts of the world. They also conduct exchange programs with other top business schools, enabling students to gain maximum cultural and educational exposure. Ample financial resource is the main advantage of international business schools.
International business schools have lecture halls, online seminar rooms and flat floor teaching rooms. The facilities match international standards. Information technology services provided help students and faculties in gaining up-to-date knowledge. The library houses relevant and dependable information. Online resources giving access to books, journals, annual reports, market studies and reference titles are an attraction. There is a fitness centre with gymnasium, swimming pool, steam room and spa. Fitness classes and treatment are also held here. Accommodations are provided in hotel suites within the campus. There is a catering team on campus to supply varieties of food and drink.
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