Doing business in China II. Investing and managing in china—how to dance with the dragon

This article presents the second part of a comprehensive analysis of the key issues involved in conducting business in China. It provides practical advice and recommendations on how to invest and manage successfully in the world's most complex market (“know‐how”). Topics include investment strategies, market‐entry options, key factors for success in management, as well as functional strategies for optimizing the value chain. Chinese business practices and culture, as well as different opportunities and threats, also are discussed. A key theme is that foreign investors and businessmen entering China and managing on the ground have to devise and execute intelligent strategic approaches that fully leverage new “third growth wave” opportunities in China and create a market niche in an extremely competitive environment. Otherwise, they will produce similarly disappointing results as most foreign investment in the Central Kingdom so far. © 2000 John Wiley & Sons, Inc.     

Doing business in…Sri Lanka

Having a well‐developed human resource base and a relatively well‐developed capital market infrastructure, Sri Lanka offers a liberal and dynamic investment environment. Over the years, macrostability has been achieved and considerable reforms have been implemented, contributing to a healthy economic growth. This article provides useful information on the business environment and is intended to help foreign businessmen and investors to develop a good grasp of essential background knowledge for being successful in Sri Lanka. It reviews the Sri Lankan political structure, climate, and economy. Sri Lanka's infrastructure, legal framework, and sociocultural set‐up, as well as market structure and potential, are also analyzed. © 2005 Wiley Periodicals, Inc.     

Doing Business in India

On its independence in 1947, India was among the two most industrialized nations in Asia. Since then it adopted a “mixed economy” approach that hindered its national growth and the optimum utilization of its immense resources (both natural and human). To re‐establish itself as an economic force in the region, India liberalized its economy in early 1990s. The adoption of the “free market economy” model has created great opportunities for foreign businesses. This article provides useful information on the complex business environment, aimed to help foreign businessmen and investors to develop a good understanding on key background knowledge for being successful in India. It reviews Indian historical development, political structure and climate, international relations, and economy and foreign trade. India's infrastructure, legal framework, socio‐cultural set‐up, competitive environment, as well as market structure and potential are also analyzed. © 2001 John Wiley & Sons, Inc.     

Doing business in Switzerland

Situated at the crossroads of Europe, Switzerland is an ideal example of a successful multicultural and multilingual society living in a harmonized way. This article provides a comprehensive review of Switzerland's historical development, political structure, economy, investment, and foreign trade environment. It aims at being a useful source of information for foreign businessmen and investors interested in doing business in Switzerland, one of the most advantageous business locations in Europe. © 2003 Wiley Periodicals, Inc.     

Doing Business in Ukraine

Although it is the second largest country in Europe, Ukraine is still at an early stage in its transition to a market economy. Given its strong long‐term potential, it is a key country to monitor on the changing global landscape. This article provides a comprehensive review of Ukraine's historical development, political structure, economy, investment and foreign trade environment. It aims at being a useful source of information for foreign businessmen and investors interested in doing business in Ukraine. © 2000 John Wiley & Sons, Inc.     

Subnational managerial transformation and the post‐WTO‐accession business environment in China: Shanghai perspectives

The market‐oriented perspectives held by managers of China's municipal government agencies and urban enterprises constitute critical variables in the business environment encountered by foreign investors. A study of 426 predominantly subnational managers in Shanghai found most study participants generally positively inclined toward implementing accession‐related reforms and toward marketoriented developments. The study also revealed a surging interest in careers with foreign‐affiliated entities and widespread preference for incentives that give foreign‐invested firms a competitive hiring and retention advantage over domestic, especially state, establishments. The overall results suggest the transformation of subnational managerial orientations in a direction that is conducive for foreign participation in Shanghai's postaccession economy. © 2005 Wiley Periodicals, Inc.     

New international business perspectives on Pakistan

What image comes to mind when one thinks of Pakistan? Prior to the attacks of September 11, 2001, and the subsequent invasion of Afghanistan, many businesspeople had little information about this ancient land. Recently, Pakistan has come to the world's attention as a powerful ally in the U.S.‐led war against terrorism. Situated at the crossroads of the Middle East, Southeast Asia, China, and member nations of the former Soviet Union, Pakistan has long been a leading player in regional political and economic activity. This article presents some new perspectives on Pakistan as a market worthy of a closer look. We survey Pakistan's history and geography, as well as its sociocultural, political‐legal, economic, and competitive environments with a view to identifying new opportunities for foreign investors and global marketers. Current business trends and marketing opportunities are discussed, concluding with an outlook for future growth and development. Valuable insights are offered to businesspeople interested in doing business in Pakistan, a little‐studied but vitally important newly industrializing country (NIC) and big emerging market (BEM). © 2004 Wiley Periodicals, Inc.     

Latvia

Situated on a trading crossroads between Western Europe and Russia, Latvia has emerged as one of the most successful countries in Central Europe. This article provides a comprehensive review of Latvia's historical development, political structure, economy, investment, and foreign‐trade environment. It aims to be a useful source of information for foreign businessmen and investors interested in doing business in Latvia. In the fall of 1991, when the Baltic States separated from the Soviet system, no one predicted that these countries would make the transition to a market‐based economy as quickly and as effectively as they have. However, 11 years later, with notable growth and rising standards of living, such thinking is no longer considered overly optimistic. “It is the biggest, most complicated, and most promising piece of the new Europe,” wrote The Economist (1998) in reference to the Baltic region. Wherever there is new growth, there are many business opportunities to be found. Latvia's position in the center of this region is one indication of the business potential for those with the capacity to do business there. © 2003 Wiley Periodicals, Inc.     

Lying in business: insights from Hannah Arendt's ‘Lying in Politics’

The political philosopher Hannah Arendt develops several arguments regarding why truthfulness cannot be counted among the political virtues. This article shows that similar arguments apply to lying in business. Based on Hannah Arendt's theory, we distinguish five reasons why lying is a structural temptation to businessmen: business is about action to change the world and therefore businessmen need the capacity to deny current reality; commerce requires successful image‐making and liars have the advantage to come up with plausible stories; business communication is more often about opinions than about facts, giving leeway to ignore uncomfortable signals; business increasingly makes use of plans and models, but these techniques foster inflexibility in acknowledging the real facts; and businessmen easily fall prey to self‐deception, because one needs to act as if the vision already materializes. The theory is illustrated by a case study of Landis, which grew from a relatively insignificant organization into a large one within a short period of time, but ended with outright lies and bankruptcy.     

Multinational Corporations and the Transforming Operational Environment in China

China and the multinational corporations (MNCs) have had a long period of close relationship. In locating operations in China, MNCs beneficially followed the principle of least‐cost location. However, China's economic and business environment has been undergoing a striking transformation. The Chinese economy is losing some of its beneficial emerging‐market traits. Many foreign business enterprises and MNCs have experienced deep erosion of profits. This article first focuses on the growing importance of China and the Chinese markets for foreign business firms and MNCs. The sheer size of the market naturally draws them in. Next, it dwells on the challenges that have evolved over the years and the budding new business environment, often referred to as “the new normal.” Many MNCs realize the need to adapt to the new operating environment in China. This article proposes a list of adaptive and coping measures for the foreign enterprises and MNCs. © 2015 Wiley Periodicals, Inc.     

Doin' business in an African country (business ethics and capitalism in a poor country)

The African business practice of ‘kalabuleism’, like capitalism, has at the basis of its business ethics, the belief that it is not wrong to maximise profits. Any system of distribution or marketing that permits businessmen and women to maximise profits in the sale or distribution of basic goods that are in short supply is bound to aggravate the situation for an already starving people such as are to be found in Africa. The adoption of wholesale capitalism in conditions of acute shortage of basic (as well as non-basic) goods, is unconducive to the invention or practice of or belief in Akan-like or Christian-like ethics. Hence, central planning with respect to the necessities of life seems to me to be necessary in many parts of the Third World; and the African attempt to revolutionalize business ethics merely by means of coup d'etats, is likely to be counter-productive.     

Indonesia

Indonesia's long stability of over three decades came to a sudden end after the regional economic crisis of 1997–1998. The economic crisis not only shattered the Indonesian economy but also resulted in political turmoil. The national leadership has changed three times over the last five years. In such conditions, the confidence of foreign investors is very low. The present government has initiated a number of steps to restore political stability and economic recovery. This article provides useful information on the complex business environment, aimed to help foreign investors to develop a good understanding on key background knowledge for being successful in Indonesia. It reviews Indonesian historical development, political structure and climate, regional relations, and economy and foreign trade. Indonesia's infrastructure, legal framework, sociocultural setup, as well as market structure and potential, are also analyzed. © 2003 Wiley Periodicals, Inc.     

How does ownership influence business growth? A competitive dynamics perspective

Firms engage in competitive actions to gain market share and hence to grow their revenues. However, not all firms are equally able to use competitive actions to drive growth. We argue that the ability to translate competitive actions to revenue growth depends on the ownership of the firm. Drawing on principal-agent and principal-principal perspectives, we argue that: (1) private owners (both foreign and local) are better able to employ aggressive actions to grow their business than state owners; (2) firms with multiple owners (especially international joint ventures) are less able to implement actions that drive business growth than full ownership. We find support for these arguments in empirical tests on survey-based data of 106 firms in China. Results show that in an emerging market the principal-principal perspective can better explain governance and competition than the principal-agent perspective.     

Doing business in South Africa

This survey of the South African business environment outlines the major transformations the country has experienced since 1994. The economy has been restructured, which enhanced fiscal and monetary discipline as well as domestic and global competitiveness. The general business climate has been improved, but continued progress requires (1) prioritization of social issues such as HIV/AIDS, employment, and crime and (2) accelerated privatization, market reforms, and clarity about black economic empowerment. Such changes may stimulate inflation‐rate reduction, foreign exchange stability, and an increase in foreign direct investment. © 2004 Wiley Periodicals, Inc.     

Unpacking Institutional Distance: Addressing Human Capital Development and Emerging‐Market Firms’ Ownership Strategy in an Advanced Economy

As latecomers to global business competition, emerging‐market multinational companies (EMNCs) utilize cross‐border mergers and acquisitions (M&As) to quickly acquire strategic assets, resulting in an improved competitive position. Advanced markets with well‐established firms and well‐developed market‐supporting institutions become particularly important destinations for EMNCs’ foreign operations. Institutional distance, which represents conflicting legitimacy requirements between the host and home institutional environments, is expected to be negatively associated with the foreign acquirer's ownership position. The current study examines a sample of EMNCs’ cross‐border M&As in the United States between 2005 and 2011 and reveals the unique nature of EMNCs’ ownership strategies. Taking both formal and informal institutions into consideration, our findings suggest that EMNCs originating in countries with lower levels of human capital development may have more urgency in seeking ownership control in advanced markets and are less influenced by the negative association of institutional distance in their ownership strategy. © 2016 Wiley Periodicals, Inc.     

Practice Makes Profit: Business Practices and Firm Success

Which business practices set successful firms apart from others? We address this question using data from an official survey of almost 3000 New Zealand firms. Questions cover: leadership, planning practices, customer and supplier focus, employee practices, quality and process monitoring, benchmarking, community and social responsibility, innovation, IT use, business structure and the competitive environment. Some of these are internal practices reflecting a firm’s resources and capabilities; some are characteristics of the external environment. We find that capital investment choices, R&;D practices, market research and a range of employee practices are positively associated with firm success; industry structure is also a key determinant of success. The association between specific business practices and firm success is mostly independent of firm size, age and industrial sector, other than for export marketing.     

发展外汇衍生类产品业务问题的思考

大力发展外汇衍生类产品业务是我国商业银行和涉外企业的战略选择。外汇衍生类产品业务在我国仍处于发展的初级阶段，存在着很多亟待解决的问题，只有采取加快人才培养、加大监管力度、完善金融市场等措施，才能实现快速发展。     

新时期内外贸一体化发展策略研究

内贸和外贸都是一国经济发展的重要动力,二者具有相互支撑、相互促进的作用。长期以来,中国一直实行内贸和外贸两条线管理模式,已经无法满足市场经济和贸易发展的客观要求。在当前全球经济下行贸易摩擦加剧、内外贸都面临着转型、出口消费投资在拉动经济增长中需要进一步协调配合的情况下,必须通过着力打造更加自由便利的国内营商环境、加快构建全国统一大市场大流通体系、大力发展跨境电子商务、扩大服务贸易规模提升发展水平等举措,切实推动中国内外贸一体化发展,为经济增长注入新活力。     

中国零售业的产业安全评价体系研究

随着外资的大量进入,我国零售业产业安全问题引起了各方关注,只有建立一套科学的能够反映现实的评价体系,才能对零售业产业安全问题作出客观评价。文章从竞争安全、控制安全、结构安全、权益安全四个层面构建安全评价体系,对我国零售业产业安全进行评价。研究结果表明,我国零售业整体上处于不安全状态。文章最后提出提高我国零售业安全的意见和建议。为提高我国零售业安全度,应完善政府政绩评价体系,提高地方政府规制力度;改进外企进入的听证制度,增加中小零售企业代表比例;加强培养专业人才队伍,提高中国零售业人才素质;加大重组力度,提高我国零售业市场集中度。     

商业模式创新视角下的现代服务业发展分析研究——以宜信集团为例

在竞争激烈的市场经济时代,商业模式之争已成为企业取胜市场的关键;商业模式创新作为实现可持续竞争优势的最佳途径,也已成为新的竞争焦点和学者研究的热点。本人通过文献回顾来构建自己的理论框架以及阐述商业模式创新理念的内涵,并通过对宜信集团商业模式的案例研究得出相关结论,最后概述我国现代服务业的发展前景。