What Western Firms Need to Know to Succeed in China

The Chinese market is a glittering prize for foreign companies, but those that hope to prosper need to be aware of a complex labyrinth of government, labour and cultural forces, according to research from Australian School of Business professor Stephen J. Frenkel and PhD candidate Chongxin Yu. Business plans and HR strategies must adapt to the local context and ties with  authorities at all levels need to be maintained. Frenkel suggests that returning Chinese students educated in Australia may offer a new bicultural management model for Western firms because these graduates have the advantage of “knowing their own culture, but also knowing us”.