Straight from the China CEO: Advice on leading operations in the world’s fastest-moving, highest stakes market. 25 top executives leading high-profile multinational companies in China, as well as seasoned and respected China-based consultants, give their front-line advice on succeeding in this market.
Soaring spending power among the world’s largest consumer population, radical digital transformation creating a cash-less, ‘always on’ society, severe generation gaps - these are just some of the factors which have completely transformed China since 2006, the year when the first volume of China CEO was published. And these are three of the main reasons the authors have again teamed up to put together this second volume - collecting entirely new content via in-depth, exclusive interviews with the heads of 25 high-profile CEOs of multinational companies in China, as well as a number of highly respected consultants who have built their careers by delivering advice on succeeding in the market.
In this book, CEOs and experts share their strategies for overcoming the most pressing issues faced by business leaders in China now, including: fierce competition from strong, globalized Chinese companies; working with the powerful, complex Chinese government; and successfully attracting the nation’s wealthy but fickle and tech-savvy domestic consumers. Top executives and consultants also divulge their secrets for keeping up with China’s astoundingly broad and rapid digital transformation in which the nation is now leading the world in mobile payment, online shopping, social media, Artificial Intelligence, and facial and voice recognition. They also discuss trends including localization of top positions in China, the rise of female top executives in the country and the challenge of attracting the nation’s highly international, purpose driven millennials.
- Hear directly from the China CEOs of: ABB, AB InBev, Bayer, Bosch, Carrefour, Coca-Cola, IKEA, Korn Ferry, Lego, L’Oreal, NIIT, Mango, Manulife, Marriott, Maserati, Microsoft, Philips, Scania, SAP, Sony, Standard Chartered, Tata, Udacity, Victoria’s Secret (Lbrands Int’l), Volvo, etc.
- Learn from seasoned China experts at McKinsey & Co, Economist Group, and more
- Written in a practical, easy-to-read format ideal for busy professionals, educators, and students
China CEO II: Voices of Experience from 25 Top Executives Leading MNCs in China is an invaluable resource for any professionals seeking to work in or with China, or executives expanding their responsibilities in China, and those involved in international business, finance or executive programmes.
Table of Contents
Foreword xi
Chapter 1: Why China CEO II ? 1
China’s Boom Since 2006 3
Who’s in China CEO II ? 6
Front-Line CEO Analysis: China Then and Now 10
Chapter 2: Prerequisites for China CEOs 15
Must-Have Qualities for Foreign CEOs in China 17
Foreign Managers’ Top Mistakes in China 29
Shifting from Foreign to Local CEOs 32
Qualities Needed for Today’s China CEOs (Either Foreign or Chinese Nationals) 42
Summary of Tips 51
Chapter 3: China’s Changing Talent Pool 53
Chinese Professional Women: Holding Up Half the C-Suite 60
Meet China’s Millennials 67
Strengths and Weaknesses of China’s Talent Pool 72
HR Strategies 80
Summary of Tips 93
Chapter 4: China’s Digital Revolution 95
The Rise of China’s Digital Champions 105
Where Digital China Dominates 111
Navigating China’s Digitized Landscape 118
Digital Strategies 124
Summary of Tips 130
Chapter 5: The Transformation of Chinese Consumers 131
Profile of Today’s Chinese Consumer 142
Strategies for Winning Chinese Consumers 163
Summary of Tips 170
Chapter 6: Competing in China 171
Why Multinational Corporations in China Have Lost Ground 173
Why Chinese Players Have Gained Ground 182
Strategies for Facing Chinese Competitors 192
Summary of Tips 201
Chapter 7: Managing Relations with Chinese Government and Foreign Headquarters 203
Part I: Managing with the Chinese Government 204
Government Relations Challenges 210
Government Relations Strategies and Solutions 226
Part II. Managing Relations with Headquarters 230
Success Factors for China Leadership’s HQ Relations 232
Communicating with Headquarters 236
Summary of Tips: Strategies for Government Relations 241
Summary of Tips: Strategies for HQ Relations 241
Chapter 8: Living in China 243
Non-Work Challenges for the Foreign Manager 245
Potential Problems for the Foreign Family 247
“Next-Pats” in China 250
Positive Aspects of Life in China 252
Strategies for Adapting to China 255
Summary of Tips 260
Chapter 9: The Future of MNCs in China 261
China’s Economic Outlook 263
The Changing Role of International Companies in China 267
About the Authors 271
