Manufacturing Today - January/February 2014 - 9

DR. CHARLES STEILEN COLUMN BY

Critical Values
appreciate and understand a
market's cultural factors.
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E XPORTING
XPORTING

A D INDEX

W ORKFORCE

O P E R AT I O N S

L EADERSHIP

This opens up a variety of business opportunities. This will call for
more of a retail focus. Thus, companies providing these types of finished goods as well as for manufacturers of those products and
processes that are suppliers to the
OEMs of the finished goods will find
new business opportunities.

C OMPETITIVE EDGE

Let's use a foreign country and see if it
is possible to learn something in
advance about that country. For example, in order to help you understand
how you might do business with China,
one could understand the issues that
China is facing and a few of the country's related hopes and objectives.
These are areas in which the central
government and various local governments in China are trying to address.
> The need to shift from an export
dominant economy to a domestic
demand driven economy.
> The need to move away from low
cost manufacturing to a higher
value-added economy.

P RO F I TA B I L I T Y

Understand the Country

L AST PAGE

A CCOUNTING

F U N D E M E N TA LS

I MPROVEMENT

D IALOGUE

meetings in advance, you will get to
know more about the country, the
people and its culture. Keep in mind,
however, that in these cases, you are
only scratching the surface.

M ARKETING

M F G TOMORROW

C U LT U R E C H A N G E

N EWS

E CONOMY

A LFAB INC.

The key lesson: Always try to understand things within the framework of
the hopes, dreams, values and priorities of the individuals within that specific country. Learn to appreciate, to
adapt and, if necessary, adopt some of
the most critical values of those individuals. This is the essence in which
this article is written. In other words,
before you begin to do business in a
foreign market, do understand the
needs, desires, cultural factors, etc. of
that market.
Thus, to be successful in doing
business within any country, take
some time to first learn about that
country, understand the needs of the
country and the people. Do find out
something about their objectives and
how they do business.
The American business strategy, as
it relates to exporting, is typically to
attend an overseas Trade Show, or to
be part of a trade mission or hope that
you find someone on the internet with
whom to do business. These are channels through which you can begin to
understand the various aspects about
the country as they may provide you
the opportunity to visit a country and
meet some of the local business people. I would suggest, however, that if
one is going to a foreign trade show, go
a week earlier. By setting up some

R EGIONAL MANUFACTURING

We Americans typically see the world through the eyes of American
values, American business policies and practices and the American
Media. Living overseas for 30+ years of my life and working there as
a marketing educator at The Chinese University of Hong Kong, as a
marketing consultant, a management trainer of executives
throughout Asia, and as a writer for the Hong Kong South China
Morning Post has taught me a few strategic lessons.

To do this one must have an
understanding of the required structural changes that the country must
go through, have an idea of the types
of products and services required
and, begin to identify the critical
players who are now or who could be
in this system.
As you can appreciate, issues of
product design and development will
need to be addressed. In addition,
China will need to learn how to apply
new technologies to business and
industry. Some of this is being developed within their Science Parks.
However, extensive innovation will
be required. This entails their acquiring knowledge, technology and practical know-how. Thus, companies
that traditionally offer these types of
advanced technologies can also find a
market by disseminating information
in the form of educational programs.
> The need to improve health care,
education, a better distribution of
wealth, and an improvement in
the environment.
This opens up opportunities for
specific types of medical and health
care products, health care management and soft ware systems and, the
offering of expertise and training in
the various health care areas.
In addition, businesses specializing
in energy saving, environmental protection, water purification, green
building and building design can find
opportunities in the market.
> The need to improve the managerial capabilities of Chinese citizens.
The country needs to develop new
customers, new products and new
markets both within China as well as
its own brands for both the international and the domestic markets. It
needs to understand the concept of
distribution systems. It must be able
to understand the total Marketing
Concept. This opens up the opportunity for them to learn how to attract,

JANUARY/FEBRUARY 2014 manufacturing-today.com

9


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Table of Contents for the Digital Edition of Manufacturing Today - January/February 2014

Table of Contents
Manufacturing Today - January/February 2014 - Cover1
Manufacturing Today - January/February 2014 - Cover2
Manufacturing Today - January/February 2014 - 1
Manufacturing Today - January/February 2014 - 2
Manufacturing Today - January/February 2014 - Table of Contents
Manufacturing Today - January/February 2014 - 4
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