Doing Business in China - Essay Example

Comments (0) Cite this document
Doing Business in China Doing business in a foreign country is not easy. It requires familiarity with its culture, economy, and business practices. Familiarity with culture ensures that the capitalist will serve products that do not clash with the beliefs and values of the people…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Doing Business in China
Read TextPreview

Extract of sample
"Doing Business in China"

Download file to see previous pages It is a challenge that every businessman should take if they want to succeed. This paper provides information on how to do business in China. Relying on current literature for ideas and examples, it gives recommendations on how to deal with the Chinese and establish business in China. According to Hamilton and Jhang (2012; p.4), “China is one of the most dynamic markets in the world in which change is the only constant.” By saying this, Hamilton and Jhan point out two things about China. The first one is dynamism, and the second is change. These two things suggest the main challenge in doing business in China. Dynamism is evident in the country’s culture, political makeup and religious beliefs while change is constant and rapid in its economy. Therefore, knowing aspects of dynamism and change will give businessmen an edge in their Chinese ventures. Culture Dynamism can be found in every aspect of the culture. Importantly, every foreign capitalist should be aware of the Chinese culture in order to act according to it. Otherwise one will lose all the chance to even start business in China. Culture is a very important aspect in doing business. There are practices that should be observed and non-observance would mean ignorance and lead to failure. The most important value that the Chinese has when doing business is guanxi. This term means goodwill. ...
West (2007) claims that in doing business with the Chinese, especially with the northerners, one must exercise, “eat first, talk later.” This is the same throughout China but the southerners have become more Westernized in doing business, especially Shanghai people. Nevertheless, the culture of guanxi is respected throughout the Mainland. Establishing guanxi is like developing brotherhood in the West. Along with it is showing genuine sincerity with Chinese partners. According to Hamilton and Jhang (2012), genuine sincerity goes a long way in China but not all businessmen realize its importance. Non-Chinese people think of Chinese as corrupt, possibly because of the practice of guanxi but they should understand that guanxi is not similar to bribery. Many Chinese do not accept bribes for jobs they ought to do. For instance, one taxpayer gave a significant amount of money to a banker in gratitude for the fast transactions they had with the bank. When the banker saw it, he did not feel the need for the gift and credited the amount to the company’s account. This act illustrates that bribery is not the way to do business in China. Similarly, foreign visitors are not obliged to give tips to the Chinese. Tips in hotels and restaurants are welcome but they are not expected. The Chinese people appreciate tips even in small amounts but they will do their job even without tips. Greeting them, exchanging stories and smiles are more valued, as it goes with business. One thing that is valued much in China is presence. According to Hamilton and Jhang (2012), visiting often will create goodwill among the Chinese. They cite that Hank Paulson, former CEO of Goldman Sachs, spent 70 visits in China, thus making him well-regarded in the country. Another man named Jim Rogers, an ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Doing Business in China Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved de
(Doing Business in China Essay Example | Topics and Well Written Essays - 1500 Words)
“Doing Business in China Essay Example | Topics and Well Written Essays - 1500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Setting up a business in China
According to the study conducted setting up a business in China requires one to be daring enough and be an opportune taker. It is not for the weak to do business in China since it could prove to be too hard to operate one in China. It is necessary for an aspiring businessperson in China to also understand the taxation system to avoid tax evasion.
10 Pages(2500 words)Essay
Reflection on Key Issues in Doing Business in China from a Cross Cultural Perspective. (Russia)
Considering Russia’s place within the new global order within the 21st century there is need to address the cultural issue of the Russian- Chinese relations as the two nations strive for their economic development. The two nations have a different perspective to their economic development because China seems to be striving to become the number one global economy while Russia seems to struggle in regaining its stability.
10 Pages(2500 words)Essay
The Localization of Management in China The Implications and Considerations for Foreign Companies
As a journalist and businessman, he witnessed first hand China's remarkable transformation in the space of two decades from a backward county to a rising economic power. The finding provide his extensive hands-on experience in China and is filled with valuable insights and advice for knowledgeable business persons interested in gaining a better understanding of China's rapidly developing economy.
4 Pages(1000 words)Essay
Business Globalization in China
China also provides a lot of compelling reasons that makes it an attractive business destination. However, there is a distinct lack of awareness and information about Chinese business customs, commercial trade, government system and people's quality of life among foreign nationals.
3 Pages(750 words)Essay
Doing business in emerging economies
This tool helps analyzing the factors influencing the macroeconomic environment and could be modified to cover all the important factors of interest to a specific business. Madam Cosmetics is a well established
12 Pages(3000 words)Essay
Report on the possibility and possible problems of doing business in China
Out of these, Visage would best benefit from involving themselves in a joint venture with their Chinese business partners, as this
7 Pages(1750 words)Essay
China doing business in Venezuela
This loan is comprises $4 billion to increase oil production, $1.5 billion for refinery projects, and $500 million for oil equipment (Associated Press 2011). China does not seem to care about the political implications of the
1 Pages(250 words)Essay
Ethical Issues in Business DB
Culture therefore affects ethical standards by setting the rules for defining morality and establishing ethical standards. In Chinese culture for example, business transactions are based on developed friendly relationships. Monetary exchange is therefore
1 Pages(250 words)Essay
Discussion Question
reover, the Chinese belief in respect for authority and therefore the elderly and people of influence matter a lot in the process of trade (Kline, 2010). Research conducted on China show that the Chinese belief that difference in inequalities among people is acceptable. The
1 Pages(250 words)Essay
How Canadian doing business in China
ned to another country as expatriates must learn the nuances and intricacies of local culture to avoid embarrassment or missteps that can ruin a business deal. There is a grain of truth to the buzz phrase “think global but act local” and this is the topic of this paper,
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Doing Business in China for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us