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What executives are asking about China: From entry to executions
Multinational companies are shifting gears in China, turning away from entry strategies and focusing instead on execution. The head of McKinsey's offices in China takes a look at some of the concerns arising in this new environment.Innovative approaches to recruiting and retaining managers are needed to counter expected staff shortages. Along with distribution and marketing, recruitment will also pose a challenge for global companies as they reach beyond China's large cities.China has targeted innovation as a national priority, and there are early signs that some domestic companies are becoming more creative. Foreign companies should encourage this trend and find ways to benefit from it.As the importance of personal contacts begins to fade, a systematic approach to government relations is becoming a necessity. Many companies still face local corruption, although the situation is improving.
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