Into the Mainstream: Influencer Marketing in Societyrun_frictionless
TAKUMI surveyed over 3,500 consumers, marketers, and influencers across the UK, US, and Germany to uncover the latest trends in the sector. The report ‘Into the mainstream: Influencer marketing in society’, uncovered divided opinions on what consumers want to see and what brands are willing to engage with influencers on.
https://runfrictionless.com/b2b-white-paper-service/
Silicon Valley is recognized globally as the birthplace of some of today’s most popular and iconic technologies. Many of its startups have a particular dynamic to thank for their success: the formation of clusters, or groups of companies and organizations that congregate in a region around a particular field.
Brett Gilbert, an associate professor in Rutgers Business School’s department of management and global business (and @ProfGilbert on Twitter), studies the formation and influence of these clusters. When a prominent university or a powerhouse company draws other, smaller organizations to its region, a tech cluster forms, supporting entrepreneurs as they develop their own breakthroughs. This model has been observed for decades in the United States. Now, emerging markets such as South Africa are seeing nascent cluster formation. And the success of these nations in the global economy may depend, at least in part, on their ability to make clusters work.
Gilbert, who has a Ph.D. in entrepreneurship from Indiana University and served a gubernatorial appointment as an advisory committee member for the Texas Emerging Technology Fund from 2008 to 2010, recently spoke with strategy+business about her research in the U.S. and abroad.
The Fintech 100 includes leading 50 fintech
companies across the globe, and the most intriguing
50 ‘emerging stars’ – exciting new fintechs with bold,
disruptive and potentially game-changing ideas –
expanding on the success of last year’s list. Presented here strictly for academic purposes...
Content marketing isn’t a new strategy for the finance industry. For many financial institutions, the value of content marketing is the same today as it was 130 years ago: It strengthens relationships with prospects and customers by building trust. But what, specifically, are financial institutions doing when it comes to content marketing — and, more importantly, what do they need to be doing to evolve and stand out? This industry has its own unique considerations, as well, such as the fact it operates in a heavily regulated industry and its customers can no longer be categorized as being interested in only business finance or only personal finance. This white paper provides an overview of the current state of content marketing in the finance industry and explores key examples that can show you ways to evolve your own program.
Into the Mainstream: Influencer Marketing in Societyrun_frictionless
TAKUMI surveyed over 3,500 consumers, marketers, and influencers across the UK, US, and Germany to uncover the latest trends in the sector. The report ‘Into the mainstream: Influencer marketing in society’, uncovered divided opinions on what consumers want to see and what brands are willing to engage with influencers on.
https://runfrictionless.com/b2b-white-paper-service/
Silicon Valley is recognized globally as the birthplace of some of today’s most popular and iconic technologies. Many of its startups have a particular dynamic to thank for their success: the formation of clusters, or groups of companies and organizations that congregate in a region around a particular field.
Brett Gilbert, an associate professor in Rutgers Business School’s department of management and global business (and @ProfGilbert on Twitter), studies the formation and influence of these clusters. When a prominent university or a powerhouse company draws other, smaller organizations to its region, a tech cluster forms, supporting entrepreneurs as they develop their own breakthroughs. This model has been observed for decades in the United States. Now, emerging markets such as South Africa are seeing nascent cluster formation. And the success of these nations in the global economy may depend, at least in part, on their ability to make clusters work.
Gilbert, who has a Ph.D. in entrepreneurship from Indiana University and served a gubernatorial appointment as an advisory committee member for the Texas Emerging Technology Fund from 2008 to 2010, recently spoke with strategy+business about her research in the U.S. and abroad.
The Fintech 100 includes leading 50 fintech
companies across the globe, and the most intriguing
50 ‘emerging stars’ – exciting new fintechs with bold,
disruptive and potentially game-changing ideas –
expanding on the success of last year’s list. Presented here strictly for academic purposes...
Content marketing isn’t a new strategy for the finance industry. For many financial institutions, the value of content marketing is the same today as it was 130 years ago: It strengthens relationships with prospects and customers by building trust. But what, specifically, are financial institutions doing when it comes to content marketing — and, more importantly, what do they need to be doing to evolve and stand out? This industry has its own unique considerations, as well, such as the fact it operates in a heavily regulated industry and its customers can no longer be categorized as being interested in only business finance or only personal finance. This white paper provides an overview of the current state of content marketing in the finance industry and explores key examples that can show you ways to evolve your own program.
Facebook chia sẻ báo cáo mới về tầm quan trọng của tính đa dạng trong quảng cáoMarketingTrips
Bên cạnh việc chia sẻ tầm quan trọng của sự đa dạng trong quảng cáo, Facebook còn đề cập đến những rào cản trong việc tạo ra nhiều tính đại diện hơn trong tất cả các hình thức quảng cáo.
The State of Marketing—Talent, Tech and StrategyPR 20/20
Paul Roetzer’s newest book, The Marketing Performance Blueprint, draws on key findings and insights from dozens of industry reports, articles, books and interviews to demonstrate the gaps that exist in today’s marketing programs. This infographic highlights some of our favorite findings.
Power to the People: Customer Care and Social MediaCognizant
The growth of social media, including Facebook and Twitter, offers many opportunities for businesses to connect with customers. Nonetheless, most companies still view social media as an extension of their traditional sales and marketing efforts; few are using social media to strengthen customer care and offer customers consistent, seamless and satisfying experiences.
The benefits of a predictive online reputation management process, including a robust response mechanism, pay off in averting or smoothing any brand reputation crises. This whitepaper explains how to set up such a reputation management process.
Social media in the enterprise has predominantly been a haven for marketers, who use its power to engage target audiences along multiple points of the conversion funnel, while being able to track the eicacy of messages and content in a very precise way.
https://runfrictionless.com/b2b-white-paper-service/
Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the "give-to-get" ratio and solve the customer trust equation, our recent research reveals.
Social Insights on the Luxury Fashion IndustryBrandwatch
Our new Fashion and Luxury Report explores how social media has changed the landscape of fashion marketing. We undertake a deep-dive analysis by deciphering the factors that are setting brands apart in the highly competitive fashion and luxury markets.
The main thesis of this article is that several long term trends are reshaping marketing and forcing marketing managers to change radically to keep up. These long term trends are technological, socioeconomic and geopolitical. The future landscape of the business worldwide will have the marketing evolutions as a driver. These evolutions will be the response to the changes of business and marketing environment. How we see the future depends partly on our current perspective. A research oriented visionary will detail what the future brings for researchers. A technology oriented one describes the wonders of coming technologies. Marketing managers are likely concerned with future developments in their specific areas of responsibility i.e., advertising and promotion, branding, or supply chain . Academics likely look for the hot new research topics. S. Balaji | A. Jayaprakash | K. Prabhakaravarman "The Future Trends on Marketing" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5 , August 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33107.pdf Paper Url :https://www.ijtsrd.com/management/marketing/33107/the-future-trends-on-marketing/s-balaji
A global study into 16 to 25 year olds and everyday banking looking at how banks can stay relevant for young people in the face of disruption in the financial services industry.
Winning the Content Wars: A Playbook for Today’s Content ProvidersCognizant
Like their counterparts in other industries, Information, Media and Entertainment (IME) providers face myriad challenges brought about by digital capabilities and technologies. As they restructure to align with today’s “digital first” imperative, these companies will evolve into three “mega segments” based on how their business models change and how they interact with customers. Assessing the maturity of their content ecosystems will dictate a range of actions that align with their business goals and fit within the context of their content and transformation objectives.
The quest for digital skills is an Economist Intelligence Unit report, sponsored by Cognizant, on the supply and demand of digital skills across four industries: financial services, healthcare, retail and manufacturing.
A recent survey by The Economist Intelligence
Unit (EIU), sponsored by SAP, reveals that west
European marketers are already collecting a large
quantity of contextual information about their
customers and prospects.
Know how venture capitalists value your deal....understand how they are compensated...see what creates value and how investors assess your "risk factors."
A great slide show presentation that provides solid answers to many of these essential questions Check out mikeklein2010.wordpress.com
The Tasks of Marketing in the Digital EraYogeshIJTSRD
This article has a qualitative approach, where the main challenges that Marketing areas have in the era of disruptive technologies are raised. At the same time, it examines the opportunities offered by the same technologies to deal with the capture, management and treatment of large volumes of information dispersed in different sources, whose heterogeneous, unstructured data concentrates the basic elements to develop invaluable information to the departments Marketing, given that there would be obtained market trends, attributes and ideal characteristics to develop products and services tailored to consumers. Asqar Samadov "The Tasks of Marketing in the Digital Era" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41164.pdf Paper URL: https://www.ijtsrd.comeconomics/market-economy/41164/the-tasks-of-marketing-in-the-digital-era/asqar-samadov
Estudio: Presencia de las gestoras de fondos en las redes socialesFinect
Interesante este estudio realizado por Caceis Investor Services y PwC sobre el comportamiento en redes sociales de 104 grandes gestoras de Estados Unidos, Europa y Asia.
ClickZ has launched an innovative new series of buyers guides, created with the aim of cutting through the complexity of the technology landscape to help our community of readers make better decisions about vendors. The first of this series is dedicated to bid management platforms, which help brands maximize the returns on their PPC, social media, and display advertising budgets.
The role of a bid management platform has changed significantly over the past decade, in line with the increased sophistication of the digital media industry. With over $90 billion spent on paid search in 2017, these software packages play a vital role in deriving maximum value from a brand’s digital media budget.
The core component of the ClickZ bid management vendor guide is our customer survey, which received over 1,600 responses.
Facebook chia sẻ báo cáo mới về tầm quan trọng của tính đa dạng trong quảng cáoMarketingTrips
Bên cạnh việc chia sẻ tầm quan trọng của sự đa dạng trong quảng cáo, Facebook còn đề cập đến những rào cản trong việc tạo ra nhiều tính đại diện hơn trong tất cả các hình thức quảng cáo.
The State of Marketing—Talent, Tech and StrategyPR 20/20
Paul Roetzer’s newest book, The Marketing Performance Blueprint, draws on key findings and insights from dozens of industry reports, articles, books and interviews to demonstrate the gaps that exist in today’s marketing programs. This infographic highlights some of our favorite findings.
Power to the People: Customer Care and Social MediaCognizant
The growth of social media, including Facebook and Twitter, offers many opportunities for businesses to connect with customers. Nonetheless, most companies still view social media as an extension of their traditional sales and marketing efforts; few are using social media to strengthen customer care and offer customers consistent, seamless and satisfying experiences.
The benefits of a predictive online reputation management process, including a robust response mechanism, pay off in averting or smoothing any brand reputation crises. This whitepaper explains how to set up such a reputation management process.
Social media in the enterprise has predominantly been a haven for marketers, who use its power to engage target audiences along multiple points of the conversion funnel, while being able to track the eicacy of messages and content in a very precise way.
https://runfrictionless.com/b2b-white-paper-service/
Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the "give-to-get" ratio and solve the customer trust equation, our recent research reveals.
Social Insights on the Luxury Fashion IndustryBrandwatch
Our new Fashion and Luxury Report explores how social media has changed the landscape of fashion marketing. We undertake a deep-dive analysis by deciphering the factors that are setting brands apart in the highly competitive fashion and luxury markets.
The main thesis of this article is that several long term trends are reshaping marketing and forcing marketing managers to change radically to keep up. These long term trends are technological, socioeconomic and geopolitical. The future landscape of the business worldwide will have the marketing evolutions as a driver. These evolutions will be the response to the changes of business and marketing environment. How we see the future depends partly on our current perspective. A research oriented visionary will detail what the future brings for researchers. A technology oriented one describes the wonders of coming technologies. Marketing managers are likely concerned with future developments in their specific areas of responsibility i.e., advertising and promotion, branding, or supply chain . Academics likely look for the hot new research topics. S. Balaji | A. Jayaprakash | K. Prabhakaravarman "The Future Trends on Marketing" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5 , August 2020, URL: https://www.ijtsrd.com/papers/ijtsrd33107.pdf Paper Url :https://www.ijtsrd.com/management/marketing/33107/the-future-trends-on-marketing/s-balaji
A global study into 16 to 25 year olds and everyday banking looking at how banks can stay relevant for young people in the face of disruption in the financial services industry.
Winning the Content Wars: A Playbook for Today’s Content ProvidersCognizant
Like their counterparts in other industries, Information, Media and Entertainment (IME) providers face myriad challenges brought about by digital capabilities and technologies. As they restructure to align with today’s “digital first” imperative, these companies will evolve into three “mega segments” based on how their business models change and how they interact with customers. Assessing the maturity of their content ecosystems will dictate a range of actions that align with their business goals and fit within the context of their content and transformation objectives.
The quest for digital skills is an Economist Intelligence Unit report, sponsored by Cognizant, on the supply and demand of digital skills across four industries: financial services, healthcare, retail and manufacturing.
A recent survey by The Economist Intelligence
Unit (EIU), sponsored by SAP, reveals that west
European marketers are already collecting a large
quantity of contextual information about their
customers and prospects.
Know how venture capitalists value your deal....understand how they are compensated...see what creates value and how investors assess your "risk factors."
A great slide show presentation that provides solid answers to many of these essential questions Check out mikeklein2010.wordpress.com
The Tasks of Marketing in the Digital EraYogeshIJTSRD
This article has a qualitative approach, where the main challenges that Marketing areas have in the era of disruptive technologies are raised. At the same time, it examines the opportunities offered by the same technologies to deal with the capture, management and treatment of large volumes of information dispersed in different sources, whose heterogeneous, unstructured data concentrates the basic elements to develop invaluable information to the departments Marketing, given that there would be obtained market trends, attributes and ideal characteristics to develop products and services tailored to consumers. Asqar Samadov "The Tasks of Marketing in the Digital Era" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41164.pdf Paper URL: https://www.ijtsrd.comeconomics/market-economy/41164/the-tasks-of-marketing-in-the-digital-era/asqar-samadov
Estudio: Presencia de las gestoras de fondos en las redes socialesFinect
Interesante este estudio realizado por Caceis Investor Services y PwC sobre el comportamiento en redes sociales de 104 grandes gestoras de Estados Unidos, Europa y Asia.
ClickZ has launched an innovative new series of buyers guides, created with the aim of cutting through the complexity of the technology landscape to help our community of readers make better decisions about vendors. The first of this series is dedicated to bid management platforms, which help brands maximize the returns on their PPC, social media, and display advertising budgets.
The role of a bid management platform has changed significantly over the past decade, in line with the increased sophistication of the digital media industry. With over $90 billion spent on paid search in 2017, these software packages play a vital role in deriving maximum value from a brand’s digital media budget.
The core component of the ClickZ bid management vendor guide is our customer survey, which received over 1,600 responses.
Employee Onboarding : Statistics you need to knowElodie A.
Learn everything you need to know about employee onboarding and how to ensure that each new hire is successful with this complete guide.
Content by Officevibe, the simplest tool for a greater workplace.
Read more on our website:
https://www.officevibe.com/employee-engagement-solution/employee-onboarding
Download your free checklist of the perfect onboarding:
http://bit.ly/2jVcIzO
Chek our product!
https://www.officevibe.com/
10 Revealing Statistics About Compensation & Benefits You should KnowElodie A.
Discover the real secrets to compensation and benefits, and see what employees really want from their companies.
Learn more on Officevibe, the simplest tool for a greater workplace:
https://www.officevibe.com/
Download this slideshare for later:
http://bit.ly/2mbvfvM
Download your free guide about the ONE perk guaranteed to increase job satisfaction:
http://bit.ly/2mbuId2
Artificial intelligence (AI) is everywhere, promising self-driving cars, medical breakthroughs, and new ways of working. But how do you separate hype from reality? How can your company apply AI to solve real business problems?
Here’s what AI learnings your business should keep in mind for 2017.
China - Opportunities, Threats, Success and Failuretutor2u
This revision presentation highlights the key opportunities and threats faced by firms outside China looking to do business in and with China. It also provides examples of businesses that have succeeded in China and those that have struggled!
The Puzzle of Innovation in China - Adding the Missing Parts (goetzpartners s...Wolfram Römhild
+ Innovation: the key to continuing growth in China
+ A plan for the future: setting an innovation road map for MNCs
+ Overcoming barriers: taking the lead with proactive measures
+ Looking inward: a way to identify innovation capabilities
Methodology
The opinions and data presented in this report are based on goetzpartners’ work experience with multinational corporations in China. In addition, a comprehensive innovation survey was jointly undertaken with our partners from renowned Chinese institutions. In cooperation with Professor Zheng Han, Chair of Innovation and Entrepreneurship at Tongji University, and the
German Chamber of Commerce in Shanghai, we interviewed more than 100 German corporations operating subsidiaries in the Chinese market, with two thirds of them being present in China for more than ten years.
https://www.goetzpartners.com/publications/studies/
China's media landscape can be a tricky industry to navigate. This white paper breaks it down and provides essential tips on how to have your marketing and communications strategies work in China.
2008 Seize The Opportunity - Your Guide To Getting Business Results From Comm...Upstream
This guide provides tips on how to effectively use communications in China to support your business expansion and maximize opportunities in this dynamic business environment.
his guide provides tips on how to effectively use communications in China to support your business expansion and maximize opportunities in this dynamic business environment.
Produced by Upstream Asia (www.upstreamasia.com)
You can see the online version of this guide at http://2008.upstreamasia.com
A new report published by The Economist Intelligence Unit highlights the key issues that small and medium enterprises (SMEs) grapple with as they expand internationally – which for many firms can outweigh the promise of growth.
The report, sponsored by DHL Express, is based on a survey of 480 SMEs spread across 12 countries and 20 industries, as well as in-depth interviews with a number of SMEs and policy experts.
According to the survey, 40% of respondents currently earned zero revenue from international operations, but a clear majority (72%) expect to derive between 11% and 50% of their revenues internationally in five years’ time. Across developed and developing markets, SMEs are focused on potential problem areas that trump growth in terms of importance. These include the quality of a target market’s infrastructure, the stability of its politics, the administrative costs of establishing a local presence, and the accessibility of local business acumen and networks.
Compared to their G7 counterparts, SMEs from BRICM (Brazil, Russia, India, China, and Mexico) have a much higher presence in other developing countries. For example, 15 percent of BRICM SMEs have international operations in Russia and CIS, whereas only 3.6 percent of G7 SMEs do; 18.5 percent of BRICM SMEs have international operations in South America compared to only 4.6 percent of G7 SMEs.
No two markets are treated as differently as Africa and China. Despite Africa’s strong growth rates the vast majority of survey respondents see very few opportunities in the region. China, however, remains a magnet for SMEs.
InstructionsWrite a paper about the International Monetary Syste.docxvanesaburnand
Instructions
Write a paper about the International Monetary System that addresses each of the following issues:
· Define the International Monetary System and outline the history of the system.
· Describe and provide examples of what is meant by “currency regimes,” and define selected types of regimes and form an argument for selecting fixed exchange rate and arguments for selecting flexible exchange rates.
· Describe and define the creation of the Euro and discuss the benefits as well as the problems associated with the creation of this currency.
Support your paper with at least five (5) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards.
Length: 5-7 pages (not including title and reference pages).
Eiteman, D., Stonehill, M., & Moffett, M. (2016). Multinational business finance. Boston, MA: Prentice-Hall.
Read Chapters 1, 2
This is a major resource, however, I think the assignment can be accomplished without it. I can’t seem to be able to download the book.
The global company's challenge.
Authors:
Dewhurst, Martin1
Harris, Jonathan2
Heywood, Suzanne
Aquila, Kate
Source:
McKinsey Quarterly. 2012, Issue 3, p76-80. 5p.
Document Type:
Article
Subject Terms:
*International business enterprises
*Emerging markets
*Economies of scale
*Contracting out
*Risk management in business
*Business models
*Executives
*Financial leverage
*Globalization
*Research & development
Developing countries
Company/Entity:
International Monetary Fund DUNS Number: 069275188
Aditya Birla Management Corp. Pvt. Ltd.
International Business Machines Corp. DUNS Number: 001368083 Ticker: IBM
NAICS/Industry Codes:
919110 International and other extra-territorial public administration
928120 International Affairs
541712 Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
541711 Research and Development in Biotechnology
Abstract:
The article focuses on the management of risks, costs, and strategies by international businesses in emerging markets. It states that the International Monetary Fund reported that the ten fastest-growing economies after 2012 will all be in developing countries. It mentions that technology company International Business Machines expects by 2015 to earn 30 percent of revenues in emerging markets compared to 17 percent in 2009, while Indian multinational conglomerate Aditya Birla Group earns over half of its revenue outside India and has operations in 40 nations. It talks about the benefit of economies of scale in shared services enjoyed by large global companies and comments that the ability to outsource business services and manufacturing is benefiting local busine.
Millions of people being relocated from cities, fewer jobs, greater centralization, and more movie blockbusters are just some of the author’s predictions for the year.
Asia's Digital Trade Landscape Heads into a New DecadeCognizant
As the region solidifies its global trade leadership, banks have an opportunity to serve new financial needs as long as they make needed technology and process changes.
CMO FORMAT + SUBMISSION INSTRUCTIONS Ø Excessive crowding as make.docxclarebernice
CMO FORMAT + SUBMISSION INSTRUCTIONS: Ø Excessive crowding as makes reading difficult may result in point subtractions; use 12-pt. font please and reasonable spacing with bullets, subheads and charts as appropriate. Ø Not to exceed 4 pages. That would be long in itself, so feel free to be more economic with your language.
Note: Brevity need not compromise content or technical quality. Two seminal writing reference books: ‘AP Stylebook’ and ‘The Elements of Style by Strunk & White. Ample spaces between labeled sections is requested, numbering will keep you on track.
INSTRUCTIONS: Critique how a mature Fortune corporation that is headquartered in New England has adopted entrepreneurial business and marketing practices, what they are hoping to accomplish, and how doing so has repositioned their brand in today’s innovation economy. Applying Lodish et al’s premise that “entrepreneurial marketing can add sustainable value to any sized company,” as the CMO, you are evaluating how they're doing. Your submission must answer all of the questions within each section for full point credits (ALL 6 SECTIONS---BONUS SECTION IS NOT INCLUDED---). Be careful not to use valuable space by restating the question; just declaratively present your answers, footnoting references as confirm your required use of primary and secondary research (Blackboard: Library Resources, plus list below). Follow these content guidelines carefully, matching each Section’s requirements to those shown in the Grading Chart.
1. Company Story: Introduce the corporation’s product mix, target audiences, market position and competitive environment. Include the stock ticker, NAISC code and an analysis of its recent financial performance, noting any important product, market or organizational milestones that impacted those numbers. Briefly demonstrate your familiarity with its mission and the competitive and Federal regulatory environment within which it markets its business.
2. Internal Entrepreneurism: Name two (2) ways through which the corporation’s executive leadership has set out to build and articulate an entrepreneurial or team culture. What is new, what is intended by these changes, and has there been any impact to the employee experience? Who evangelizes the brand personality and do you feel that this executive inspires the workforce to feel empowered or to be inspired? As the CMO, what you do anything differently, if anything?
3. Business + Marketing Reengineering: Has the company restructured in order to be more streamlined or less hierarchical, changed its customer product direction, revamped customer-facing communications or improved its speed-to-market product R&D? Briefly bullet three (3) ways the company claims new agility to achieve sustainable growth. Perhaps it has a ‘hot’ new division, R&D lab, partnership with a university, claims an innovation center, implements workforce development, embraced social media, made strategic acquisitions or has rebranded altogether. Be ...
though "The future for MNCs in China" report was released in 2012 by KMPG, the content is still valid and shed the light for MNCs planning ahead...what are the key points from the report:
1 Rising labor cost
2 Shortage of Talent
3 Pay-for-performance is not working in China bcos of the Income tax system, ppl prefers low income to take back home.
4 Capital Market has not yet opened.
5 Biz license issue
6 Lack of innovation and management skills for future leaders in China
7 JV - has become popular, cos of license issue (if you cant beat them, join them: MNCs and Local companies leverage each other).
8 Corporate Incentive: tech firm corporate tax 25% to 15%, R&D has 50% bonus reduction.
9 Shared Service and outsourcing
10 Payment and cloud computing
Besides, it's convincing reading the biz leaders insight from different service sector, luxury (Bluebell), legal, Biz centre (the Executive Centre), Outsourcing (Genpact), Apparel (Avery Dennison), Logistics (FedEx), and of course KPMG itself.
An Conghui, president of Zhejiang Geely Holding Group and CEO of Geely Auto Group, explains the future of flying cars and the value of an international brand.
For Greg Lehmkuhl, president and CEO of Lineage Logistics, temperature-controlled supply chains for perishables are one of the world’s next great platforms.
As more and more companies in a range of industries adopt machine learning and more advanced AI algorithms, the ability to provide understandable explanations for different stakeholders becomes critical. If people don’t know why an AI system made a decision, they may not trust the outcome.
1. strategy+business
ONLINE NOVEMBER 12, 2012
BY SARAH BUTLER, EDWARD TSE,
AND JOHN JULLENS
The New Chinese
Economy
The boom years may be in the past, but China still offers
big opportunities for multinationals that adapt to its new
economic reality.
2. A
The New Chinese Economy
The boom years may be in the past, but China still offers big opportunities for
multinationals that adapt to its new economic reality.
by Sarah Butler, Edward Tse, and John Jullens
1
www.strategy-business.com
s China’s once-in-a-decade leadership succes- exchange rates and capital flows, infrastructure invest-
sion gets under way, another transition has ments, and other macroeconomic policy tools.
been capturing headlines: the country’s recent Although any government stimulus in the coming
lackluster economic performance after years of double- months will not be as large as the one Beijing launched
digit growth. The Chinese economy reportedly grew in 2008, they say, it could effectively mitigate the worst
only 7.4 percent in the third quarter of 2012 — its spillover damage from the financial crises in Europe and
lowest growth rate since 2009 — and if the economy elsewhere.
finishes the year as projected, this rate will mark a 13- Opinions and predictions on China’s outlook may
year low. The decline varies by industry. Hardest hit vary with the monthly figures, but one reality is beyond
have been businesses related to heavy industry and to question: The Chinese economy is maturing. China is
the real estate sector; new home prices in many cities moving away from a focus on low-cost manufacturing
continue to drop because of government policies toward sustainable growth and higher-value-added busi-
intended to control inflation. Growth also varies by ness, and from infrastructure- and export-led growth to
region; some of China’s interior and western provinces domestic consumption. In a few years, China could
have experienced above-average rates of growth, where- look very different from how it does today, as regional
as growth in the traditionally wealthier coastal provinces shifts in wealth, more demanding and discerning cus-
has cooled. tomers, and highly motivated Chinese companies
But other indicators tell a different story. Beijing change the competitive landscape. The country’s econo-
recently reported that industrial output grew 9.2 per- my is also evolving in fundamental ways as single-digit
cent in September, and retail sales increased 14.2 per- annual growth becomes a plausible new normal.
cent during the same month. Sectors such as healthcare Multinational corporations (MNCs) that have grown
and other services continue to grow strongly. And even accustomed to the boom years may be nervously eyeing
as the growth rate comes down, actual GDP continues the situation. But they can be confident that China
to expand. Both government officials and executives on remains a significant source of opportunity for those
the ground say that the Chinese government still has who adapt their strategies. To do so, companies first
the will and ability to ensure a soft landing through its need to understand the trends that are shaping these
control over the domestic banking system, foreign changes.
3. Sarah Butler Edward Tse John Jullens
is a partner with Booz & is a senior partner with Booz & is a partner with Booz &
Company, a director on the Company and the firm’s chair- Company based in Shanghai.
firm’s global board, and the man for Greater China. He He currently co-leads the
managing director of the advises companies, headquar- firm’s engineered products and
Greater China offices. She tered both in and outside services practice in Greater
leads the firm’s health and China, on their strategies, China.
financial-services practices in organizations, and operations.
the region.
Short-Term Shifts
2
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sarah.butler@booz.com edward.tse@booz.com john.jullens@booz.com
owned by Alibaba.com, which is a popular B2B site.
Domestic demand is growing in China, but today and The number of Internet users in China is already twice
in the near future, it will come from regions that have that in the U.S., and China is the largest social media
been largely ignored by many multinationals. These market in the world. Social media is especially impor-
substantial shifts in demand reflect the movement of tant in China as a source of credible information,
wealth away from the coastal areas and toward some of because the mainstream media is still controlled by the
China’s interior and western provinces, and away from central government.
so-called top-tier cities and toward lower-tier cities and, Execution remains a key challenge in the short
for some categories, rural areas. This trend is affecting term, largely because of a widening talent gap. Such was
certain sectors, such as consumer goods, automotive, the finding of two recent surveys, the 2012 China
and industrials, particularly strongly. Consumer Market Strategies survey, conducted by Booz
Both Chinese and multinational companies will & Company and the American Chamber of Commerce
need to realign their footprint and operating model in Shanghai, and the 2012 China Innovation survey,
accordingly, adopting a Fit for GrowthSM approach, with conducted by the Benelux Chamber of Commerce, the
a much stronger focus on both the top and bottom China Europe International Business School, the
lines. They can expand beyond the Tier One and Tier Wenzhou Chamber of Commerce, and Booz &
Two markets with which they established themselves in Company. Companies need the right leaders in place in
China by deepening and broadening their channels to their China business, as well as an operating model that
enter lower-tier markets, implementing what is called a balances local flexibility and agility with global control
“go down” (xia chen) strategy. This will often require and capability leverage. But China’s acute shortage of
changes to their traditional go-to-market model, as well trained and experienced managers and executives
as to core elements of their customer value proposition. remains a roadblock for companies looking to grow rap-
For example, they will have to link inland and western idly and profitably. Companies need to take a more
regions to the rest of the country and build nationwide holistic approach to addressing the labor supply imbal-
logistic and marketing networks. Foreign companies can ance. The imbalance is particularly critical at the middle
benefit from partnerships with Chinese players to accel- management level, where talent is scarce and expats are
erate this strategy and fill gaps, but they also need to inherently less effective than they are at more senior lev-
develop their own capabilities to execute this shift suc- els. In general, companies need to focus less on recruit-
cessfully. ing the right people and more on developing and
In addition, companies have increasing opportuni- retaining high-potential people through structured tal-
ties to leverage digital channels, including e-commerce ent management programs and a long-term commit-
and social media, as part of their strategies. The Chinese ment to their China strategy. Companies can also seek
e-commerce market is thriving, with well-known and out partnerships with universities, where they can estab-
successful retail websites such as Taobao.com, a B2C site lish scholarships, internships, and relevant courses.
4. Long-Term Competition
3
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Finding Opportunity
Group), and household appliances (Haier and Galanz).
True, Chinese customers are now prepared to pay more Now able to sell into China’s immense market, these
for higher quality, and they may have more brand loyal- companies have taken advantage of the explosive
ty than in the past. But the value of these developments growth in infrastructure investment and the huge sup-
1. Double down. Some companies anticipated the
for MNCs will be limited by ambitious local competi- ply of cheap labor at all levels to produce high technol-
tors that are fast acquiring the technology and know- ogy and variety at low cost, with a strong home base to
how to produce high-quality goods on par with build from globally. (See “China’s Mid-Market
multinationals’ offerings. The days of winning purely by Innovators,” by Edward Tse, John Jullens, and Bill
having the allure of a foreign brand are largely over, thus Russo, s+b, Summer 2012.)
more clearly differentiated customer value propositions Not all of these companies will succeed. Indeed, the
are needed. recent global economic crisis has provided a reality
Although Chinese companies still have capabilities check for many Chinese companies. Sany Heavy
2. Reposition. Companies that are facing a funda-
gaps, especially in branding and marketing, many are Industry, for example, viewed until recently as a poten-
moving beyond their copycat reputations to become tially major threat to companies such as Caterpillar and
serious innovative competitors. Indeed, the 2012 China Komatsu, has started to lay off staff after seeing its
Innovation survey found that many Chinese companies China sales fall. And the financial performance of many
have already replaced their shanzhai reputations (in industrial state-owned enterprises has sharply declined.
which they rapidly put out low-cost, knockoff-style Still, enough will rise in prominence that MNCs need
products) with an entrepreneurial Need Seeker model to take notice.
(in which they pay closer attention to the market and
release products that fit consumer demand as they see
it). Among the MNCs interviewed as part of the study, To cope with these shifts in both the short and long
45 percent said they have Chinese competitors that are runs, multinationals should follow one of these courses
at least as innovative as they are. of action.
The survey’s findings are further supported by Booz
& Company’s analysis of a new category of Chinese growth of China’s inland regions and are using the
competitor: mid-market innovators. In some sectors, opportunity to aggressively compete — with pricing,
MNCs increasingly find themselves competing with this for example — to put pressure on the competition. This
new category of local companies that have strong brands strategy is paying off, at least so far. For instance,
and fast-improving (or equivalent) technologies and General Motors has introduced a budget brand called
quality standards. Sectors with a large and vibrant the Baojun (“treasured horse”) specifically for emerging
Chinese mid-market include construction equipment customer segments in China’s interior markets.
(Sany Heavy Industry), logistics (China International
Marine Containers Group), motorcycles (Lifeng mental shift in demand — in the logistics sector, for
5. 4
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3. Wait and see. Companies that can afford this
4. Pull back. Companies with weak positions and a competitiveness. +
example — need to adapt proactively. This could mean while maintaining global scale and leveraging their
altering their business model. It could also mean seeking global capabilities. They will also need an in-depth
out a new way to play in the market. For instance, understanding of the local context — in particular, a
Damco, the logistics arm of the A.P. Moller-Maersk stronger grasp of their local competitors. They will
Group, has recently opened new offices in western then need to invest in two types of capabilities: the com-
China and made several acquisitions in response to the petitive necessities that are required to win in this new
changing nature of demand in China. market, and a few distinctive capabilities that can set
them apart from every other company in their industry
option, for example, high-end brands such as Gucci and in China.
Cartier or companies that control irreplaceable resources Should MNCs stay in China? Yes, but their
as De Beers does, are considering a more careful approach will likely change as the Chinese economy
approach. These are companies that can gain market continues to mature. It remains to be seen how China’s
share in any environment through innovation or brand new leaders will affect the country’s economic and
strength. However, they tend to be spurred to act either fiscal policies, but under every plausible scenario, China
by a desire to expand faster when they can or by pressure will grow in importance during the next decade as
from headquarters. a key strategic market and a source of global
lack of ability to gain market share need to broadly
rethink their strategy. They may need to make more rad-
ical choices about their portfolio strategy and where and
how they play, for example, by leveraging the strengths
of a Chinese partner or refocusing on parts of the busi-
ness that make the best use of their current, most dis-
tinctive capabilities. There have been a few well-known
examples recently of companies that have failed in
China and needed to pull back and regroup, including
Google and Best Buy.
Most companies should regard these options as part
of their effort to develop an overall global strategy with
China at its core, incorporating China’s many competi-
tive advantages into their global operations. To pursue
this type of strategy, companies will need to migrate
more and more of their major value-chain activities,
such as R&D and product development, to China —