Two new reports from McKinsey are flagged by China Challenges : These things are always good reading. And this time they are about one of our favorite subjects – Chinese companies going global .
McKinsey’s own report outlines are below:
“Executives around the world expect competition from Chinese companies to increase, mainly because of their low production costs, yet surprisingly few are acting to meet the threat, a McKinsey survey shows. A separate survey of executives based in China reveals widespread global ambitions and concerns about finding the talent to reach them.”
“Chinese companies are on the threshold of becoming truly global. A few—fewer than might be suspected from the headlines—have already passed through the door by moving to acquire resources, talent, intellectual property, and customers beyond China’s borders. More will follow as the successes accumulate.
To succeed abroad, Chinese companies must carefully examine the obstacles they face because of their inexperience and corporate structures geared to serving a single market. They will have to gain capabilities quickly and re-create their organizations to function smoothly in a global environment.”
Chinese companies are on the rise – and are coming to a market near you soon!