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- Herausgeber: Business Book Summaries
- Kategorie: Geisteswissenschaft
- Sprache: Englisch
The must-read summary of James McGregor's book: "One Billion Customers: Lessons from the Front Lines of Doing Business in China".
This complete summary of the ideas from James McGregor's book "One Billion Customers" shows that it is difficult to emphasise just how important the Chinese economy will end up becoming to the global economy in the future. China has already surpassed Britain as the world’s fourth-largest economy and is now well on its way to becoming the world’s largest market. In his book, the author explains that foreign companies are therefore flocking to get a foothold in China before the market really becomes well established. This summary offers an insight into how the Chinese do business and how to understand and work with them in order to succeed in business in the future.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "One Billion Customers" and find out what you need to do in order to access the market in China and sell over a billion products.
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Seitenzahl: 40
Veröffentlichungsjahr: 2014
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Book Presentation One Billion Customers by James McGregor
Book Abstract
About the Author
Important Note About This Ebook
Summary of One Billion Customers (James McGregor)
Insight #1: China simultaneously has one foot firmly in the past and the other stepping into the future
Insight #2: To do business with the Chinese, understand they have good reason to be suspicious.
Insight #3: Avoid joint ventures with the Chinese government. They just don’t work out.
Insight #4: China has a relationship-driven system. For better or worse, it is incompatible with honesty.
Insight #5: The only way to offset Chinese bureaucrats is to show you have China’s best interests at heart.
Insight #6: Plan on making government lobbying an integral part of your business plan.
Insight #7: Always remember the Communist Party believes it has to control information to stay in power.
Insight #8: Government planning is a reality, so work to avoid forcing a government decision to be made.
Insight #9: Expect your local managers to be good at memorizing but weak at innovating.
Book Presentation One Billion Customers by James McGregor
Book Abstract
MAIN IDEA
It’s difficult to exaggerate just how important the Chinese economy will end up becoming to the global economy in the future. China has already surpassed Britain as the world’s fourth-largest economy and is now well on its way to becoming the world’s largest market – catering to 1.3 billion consumers. To put that in context, the Chinese domestic market has the potential to be larger than the U.S. and the European Union economies combined. It’s little wonder, therefore, foreign companies are flocking to get a foothold in China before the market really becomes well established.
Doing business in China, however, is not as easy as it may appear at first glance. There are no simple cookie cutter formulas which guarantee success. Instead, there are a few insights into how the Chinese do business which may be of use in understanding and working with them. Keep these lessons in mind and you just may be able to put together deals that work.
“Demographers may quibble with the title: China’s current population is 1.3 billion. But it is the round ‘billion’ that matters, that threshold number that symbolizes the vast and untapped continental-size market, the teeming Chinese masses waiting to be turned into customers, the dream of staggering profits for those who get here first, the hype and the hope which has mesmerized foreign merchants and traders for centuries.”
– James McGregor
About the Author
JAMES McGREGOR is a business investor in China for GIV Venture Partners. He has formerly served as an adviser to both the U.S. and Chinese governments, as bureau chief of the China bureau of The Wall Street Journal, as Taiwan bureau chief for The Asian Wall Street Journal and as the chief executive of Dow Jones China. He is also the former chairman of the American Chamber of Commerce in China and a senior China adviser to Ogilvy Public Relations Worldwide. Mr. McGregor speaks fluent Mandarin and has spent nearly 20-years as a journalist and business executive in China.
The Web site for this book is atwww.onebillioncustomers.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of One Billion Customers (James McGregor)
Insight #1: China simultaneously has one foot firmly in the past and the other stepping into the future
If China were a business, it would be described as both the world’s largest startup and a turnaround. It is progressing rapidly because of its ability to draw on two-thousand-years of tradition at the same time as it embraces Western know-how and technology. That creates a unique mix of challenges and opportunities.
China is very clearly an exciting new business frontier. It provides a once-in-a-lifetime opportunity to be in on the ground floor of a future market heavyweight. For that reason alone, businesspeople the world over are scrambling to get established in the Chinese marketplace.
The country is without any doubt a product of its heritage. In summary format, China’s economic history has been:
Almost two-thousand-years of continuous imperial rule.A brief, economically crippling encounter with communism.Economic reforms launched around 1980 by the Communist Party with the objective of increasing China’s wealth by embracing free market capitalism.
