Tuesday, May 01, 2007

China strategy in Six Steps: Part 1 of 2

Today's podcast is from a presentation I gave recently at an event for the Minnesota Trade Office, its 2007 China Practicum. I spoke at the first China Practicum, too, ten years ago. As you might have guessed, things have changed a bit since then.

In this seminar, I laid out the basic principles to guide China strategy development, especially helping business leaders analyze their organizational preparedness to do business in or with China.

Western businesses face many challenges in China, and understanding and balancing risks and opportunities is critical. A solid China strategy is built on a deep understanding of the market conditions in which you will work and the range of responses you can have to those conditions.

In this presentation, we cover the six steps to establishing a solid, effective China strategy. Step one is to identify your "China readiness." China is a high-risk place to do business, and companies must be sure they are ready to face the inevitable challenges. China readiness is measured in two key dimensions: motivations to go to China and the level of organizational preparedness to go to China.

Today's podcast is part one of my presentation, which covers an introduction to China strategy and this important first step, evaluation China readiness. In a few days, I'll post part two, which covers the remaining five steps to developing an effective China strategy.

For more on China readiness, check out www.chinareadycompany.com.

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