As the fastest-developing economy in the world today, China offers many opportunities to multinational organizations?éÔÇöbut a number of challenges as well. In a concise summary, XMei pinpoints three of the biggest hurdles to U.S. companies seeking to do business in China:
?éÔÇó Cultural differences?éÔÇöWestern, democratic management styles devoid of interpersonal relationship will leave Chinese co-workers cold. Foreigners need to understand the Chinese mindset and value system in order to succeed.
?éÔÇó Talent management?éÔÇöChina is experiencing a talent shortage at every level, sending salaries through the roof as desperate companies lure employees away from their competitors. The average turnover in Shanghai and Beijing is 20-25%.
?éÔÇó Quality of leadership?éÔÇöKey leadership skills that spell success on the global market are often lacking in the current crop of Chinese employees. Some industry segments are growing by as much as 30 percent per year; where will the next generation of effective leaders come from?
In Doing Business in China: A Brief on Best Practices For U.S. Companies, XMei discusses each of these hurdles in turn and offers solutions to effectively clear them. The solutions come from business leaders with extensive experience in China, including Donny Huang, managing director of 4stones Cross-cultural Consulting Group; Heidrick & Struggles International, Inc., a global executive search firm; and the Stanford Project on Regions of Innovation and Entrepreneurship (SPRIE).
Huang and the Vice Chairman of Heidrick & Struggles, Kyung Yoon, are among the many business experts slated to speak at XMei's upcoming conference, "Making China Your 'Gold Mountain,'" to be held in South San Francisco from May 23-25. The conference is the first-ever event in the U.S. with influential Chinese HR executives and business leaders from multinational companies, private Chinese companies, Chinese consulting firms and the government.
To download the informative brief, visit http://www.xmei-int.com/whitePapers.html
About XMei International
XMei International is dedicated to promoting business development between the U.S. and China. It organizes events, both in the U.S. and China, which enable companies to develop new business opportunities, increase knowledge of the other country's business practices, and make valuable international business connections. XMei International also offers other services, including business matches and consulting and market research for both U.S. and Chinese clients.