How can a Chinese Company Successfully Integrate Itself in Foreign Markets?
Author - Gregorio Nazzi
Domenico Composto, Benjamin Franklin International School
China’s global influence has grown immensely in recent times. It has been propelled to the top, becoming a global superpower, much like the US. However while the latter has plenty of global household brands like Apple and Amazon, the former doesn’t, highlighting the struggles most Chinese companies face on their path to global influence. While there are a few success stories, the outcome of a Chinese company going global, such as Lenovo, is seldom positive and the majority of corporations have attempted and failed due to lack of trust and chemistry between producer and consumer. Many Chinese firms fail to adhere to social standards in the West and struggle to adapt to and differentiate between new markets, mistaking that each market works the same and neglecting to connect with the western consumers. This paper analyzes techniques used by different Chinese companies attempting to globalize their influence, and explore their shortcomings and challenges. Through a comparison between successful and failed market emergencies, the paper concludes with solutions and approaches for a Chinese business to go global.