Kuwaiti/Chinese Business Partnership - Term Paper Example

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Kuwaiti/Chinese Business Partnership Name University I. Executive Summary This case talks about a proposed business venture between the Chinese conglomerate CITIC and the Kuwaiti conglomerate Al-Ghurair. The deal was being headed by Mr. Essa Al-Ghurair from the Kuwaiti end and by Mr…
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Download file to see previous pages Sun and Mr. Wu were shocked and became a little hesitant to go ahead with the deal. There was too much at stake in this situation; their respective careers, CITIC’s business image in Kuwait and global and political pressures and implications. Mr. Essa Al-Ghurair tried to make amends so that the deal would still go through. He wrote a letter of explanation to CITIC and assured them that he was not personally responsible for his younger brother’s mistakes and neither was his organization. He claimed not to have any knowledge of the situation before it became public and requested CITIC to trust him and not let this incident taint his reputation or that of his organization. Mr. Sun and Mr. Wu were reassured to some degree but still faced some decisional conflict due to the fact that the Al-Ghurair brothers were very close to each other and it seemed unlikely that Mr. Essa Al-Ghurair would not have knowledge of his younger brother’s dealings on the stock market. Due the huge, political and economic implications of this project, Mr. Sun and Mr. Wu did not want to be hasty about the final decision on their side, because they would be to blame if anything went south. Weighing all the variables involved in this situation, it seems that the best course of action would be to go ahead with the partnership project between CITIC and Al-Ghurair, with minor amendments in the original agreement that favored CITIC if Mr. Essa Al-Ghurair was not able to fulfill his commitment through the duration of this project. However, all major stakeholders on the Chinese end must be fully notified of the possible implications of Mr. Essa Al-Ghurair’s younger brother’s stock market scandal and what they might mean for CITIC, politically and financially. It seems at the point of this decision however, that this project has huge potential to be a success and is too big an opportunity to just be let go of, thus, Mr. Sun and Mr. Wu should take this little risk in their stride in order to reap its immense benefits in the future. II. Statement of the Problem The proceedings for the real estate deal between Al-Ghurair and CITIC was going smoothly until Mr. Heshan Al-Ghurair’s stock market scandal became public knowledge. From CITIC’s end, Mr. Sun and Mr. who were once very enthusiastic for this deal to go through, became a little hesitant because it might end up blowing up in CITIC’s face and having severely negative repercussions both financially and politically. The basic problem faced by Mr. Sun and Mr. Wu was whether to go on with the agreement or to come to a halt in light of Mr. Heshan Al-Ghurair’s scandal and recent criminal charges. This was a big decision for them to make, laden with risk because this deal would be a milestone in the political history of Kuwait and China and financially as well, for both the parties. If they made the wrong move, a lot of people would be faced with unfavorable consequences, starting with their own selves in terms of career advancement. There was also the issue of the possibility of Mr. Essa Al-Ghurair being directly involved in the scandal or the chance of him being the main man behind the whole operation. This could be very detrimental for CITIC’s image and reputation in the market for signing a deal with a person or organization associated with or involved in a stock market scandal involving fraud and misrepresentation. Since CITIC is owned by the Chinese government, this would directly implicate them for dealings ...Download file to see next pagesRead More
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