The China Factor

ConclusionSo, What's the Punch Line?

The global market is growing and shrinking at the same time. Shrinking because of increased (and easier) access to new markets, and growing because there are new market entrants that are bringing new innovations, new approaches, and a new drive that challenges other players like never before. It is more important than ever to learn from, and to collaborate and partner with, your perceived competitors—those whom Sun Tzu refers to as your enemies—in order to access new markets and to win new business. The line between competitor and ally is blurred.

The power of the 5th P—politics—will only become a more critical success factor in your international business strategy, particularly in emerging markets. Regardless of how much success you have achieved on your home ground, going global requires cultural familiarity and an intimate knowledge of the habits of the local population and their capabilities. Like attracts like. Recruit locals who are knowledgeable about your solution and familiar with local needs and trends. Building significant customer relationships is key and often overrides your product superiority. Recognizing the true expectations of new customers, knowing your competitors' ability to meet them, and adapting your own approach and formula in order to meet and exceed these expectations are all essential in ensuring that you win.

While the Chinese way of doing business was used to illustrate an alternative way of competing for Western ...