This is the second of two articles dealing with the challenges that multinational companies face in China and describing what they should do to achieve profitable growth there.
The first article highlighted the common pitfalls encountered in China and discussed the expected changes in the Chinese market and competitive environment. This second article describes what this integrated approach should entail. Companies should begin by generating deep consumer insights and building strong local capabilities. They should transform these insights into superior product market strategies, effectively manage sales and distribution and aim to achieve operational excellence. They also need to develop an organization that is fiexible, open to learning and adaptive in order to cope with China’s vast size, great diversity and rapid rate of change.
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