Chinese companies are raring to go global. A recent survey of 40 state-owned and private local companies, a majority from the manufacturing sector, shows they are intent on creating an international presence but do not quite know how to go about it.
The survey by Shanghai's Fudan University and IBM's Institute for Business Value, China, identified 60 companies that have the potential to succeed over the next 10 years. In an April 5 Wall Street Journal article, one of the survey authors says, however, the lack of a plan is among the broader challenges facing Chinese companies trying to globalize. A shortage of employees with the management and marketing skills to lead the process is another aspect of the problem.
One way Chinese companies can address the challenges is to partner with foreign players overseas and offer better access in China, says the survey author.