Left: Dr. Zhongxue Gan, CTO and Chief Scientist of ENN
Right: David Mohler, CTO of Duke Energy
Photo at ENN's headquarters in Langfang, China
Top 10 Findings: Creating a Winning Business in China
Published in the News & Observer
http://www.newsobserver.com/2011/09/18/1494316/china-challenges-western-entrepreneurs.html
While many American companies, including those in North Carolina, are investing in opportunities in China, the hurdles to entry are unique compared to those encountered in the U.S. Strategies may be more difficult to execute for a number of reasons. Cultural differences, public relations issues, and conflicting regulations are some of the major stumbling blocks foreign firms encounter. Often U.S. executives are ill-equipped to tackle the country’s distinct challenges absent significant Chinese business experience. Overcoming these obstacles can be arduous and time-consuming because the Chinese business world demands a repertoire of skills beyond and often conflicting with Western business practices. U.S. executives need to understand that a successful presence in China entails more than a local sales team. A comprehensive understanding of the local industry, competitors, customers, business culture, and the trajectory of the market and government policy are a few of the considerations that should dictate a strategy of entry.
When David Mohler, CTO of Duke Energy, started looking into clean energy relationships in China, he studied a dozen books including How China's Leaders Think by Kuhn and Governing China by Lieberthal. He is also working with a tutor to learn Chinese. While a difficult language to master, it is already helping his pronunciation of names of new friends in China.
China’s rapid economic growth, large population, and urbanization have created unprecedented opportunities. In June of this year, Red Hat announced that their sales will reach $3B in 5 years with the fastest pace coming from China.
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