Investing in Foreign Country
Excusive Summary
This report aims at discussing the project of investing in China. Our company is a British multinational company in household goods and home furnishing industry whose bedding products are popular. We are planning to invest in a foreign country and China is a good choice. While doing business in China, cultural difference would be the first problem that company have to face. The report examines the cultural difference between the United States and China in five respects: the language differences, unique and accustomed customs, gender difference, mode of thinking and values. Furthermore, the issues that are likely to arise in the foreign country in two functional areas will be mentioned. In the marketing area, entry mode, meeting the need of local market and competitive power are the main point to be analysed. In the human resource management area, three points referred: different personalities of employees, making employees meet the working requirement and raising working enthusiasm. After the analysis, a conclusion can be safely given that considering cultural difference issues roundly helps to solve the problem s of marketing and human resource management. Recommendations for the first part are: 1) Entering Chinese market with a joint-venture mode 2) Transferring some Chinese employees to the England and offering some training program 3) To hold seminar meeting regularly 4) Creating a new manufacturing line of furniture specially in Chinese market. Recommendations for the second part are: 1) To determine a suitable entry mode 2) Doing some wide-range researches. Recommendations for the third part are: 1) get familiar with the nature of the local labour 2) Socialization 3) Training 4) Compensation and rewards 5) Stock option plans
Introduction
This report aims at discussing the project of investing in China. Our company is a British multinational company in household goods and home furnishing industry whose bedding products are popular. We
This report aims at discussing the project of investing in China. Our company is a British multinational company in household goods and home furnishing industry whose bedding products are popular. We are planning to invest in a foreign country and China is a good choice. While doing business in China, cultural difference would be the first problem that company have to face. The report examines the cultural difference between the United States and China in five respects: the language differences, unique and accustomed customs, gender difference, mode of thinking and values. Furthermore, the issues that are likely to arise in the foreign country in two functional areas will be mentioned. In the marketing area, entry mode, meeting the need of local market and competitive power are the main point to be analysed. In the human resource management area, three points referred: different personalities of employees, making employees meet the working requirement and raising working enthusiasm. After the analysis, a conclusion can be safely given that considering cultural difference issues roundly helps to solve the problem s of marketing and human resource management. Recommendations for the first part are: 1) Entering Chinese market with a joint-venture mode 2) Transferring some Chinese employees to the England and offering some training program 3) To hold seminar meeting regularly 4) Creating a new manufacturing line of furniture specially in Chinese market. Recommendations for the second part are: 1) To determine a suitable entry mode 2) Doing some wide-range researches. Recommendations for the third part are: 1) get familiar with the nature of the local labour 2) Socialization 3) Training 4) Compensation and rewards 5) Stock option plans
Introduction
This report aims at discussing the project of investing in China. Our company is a British multinational company in household goods and home furnishing industry whose bedding products are popular. We