World Famous Comics: One Billion Customers: Lessons from the Front Lines of Doing Business in China (Wall Street Journal Book)
One Billion Customers: Lessons from the Front Lines of Doing Business in China (Wall Street Journal Book)
By: James McGregor Publisher: Free Press Average Rating: Binding: Hardcover Label: Free Press Number of Items: 1 Number of Pages: 336 Publication Date: October 11, 2005
Product Description: It is well known that with a population of 1.3 billion people, China's market is moving quickly toward surpassing those of North America and Europe combined. Companies from the United States and around the globe are flocking there to buy, sell, manufacture, and create new products. But as former Wall Street Journal China bureau chief turned successful corporate executive James McGregor explains, business in China is conducted with a lot of subterfuge -- nothing is as it seems and nothing about doing business in China is easy.
Destined to become the bible for business people in China, One Billion Customers shows how to navigate the often treacherous waters of Chinese deal-making. Brilliantly written by an author who has lived in China for nearly two decades, the book reveals indispensable, street-smart strategies, tactics, and lessons for succeeding in the world's fastest growing consumer market.
Foreign companies rightly fear that Chinese partners, customers, or suppliers will steal their technology or trade secrets or simply pick their pockets. Testy relations between China's Communist leaders and the United States and other democracies can trap foreign companies in a political crossfire. McGregor has seen or experienced it all, and now he shares his insights into how China really works.
One Billion Customers maximizes the expansive knowledge of a respected journalist, well-known businessman, and ultimate China insider, offering compelling narratives of personalities, business deals, and lessons learned -- from Morgan Stanley's creation of a joint-venture Chinese investment bank to the pleasure dome of a smuggler whose $6 billion operation demonstrates how corruption greases the wheels of Chinese commerce. With nearly 100 strategies for conducting business in China, this unprecedented account combines practical lessons with the story of China's remarkable rise to power.
Dispelling the Myths About China James McGregor, author of One Billion Customers: Lessons from the Front Lines of Doing Business in China, makes it clear on why China is such a hard place to do business by offering a detailed examination of that country's culture.
As a journalist and businessman, McGregor offers readers an honest and forthright portrayal of China's great strengths and shortcomings. An example is the author's discussion of China's split personality - i.e., distrustful of foreigners yet optimistically embracing growth.
McGregor's valuable insights into China is gained from his 15 years in China as a businessman and as China bureau chief for the Wall Street Journal. This book, richly grounded in Chinese history, dispels the myths about Chinese business practices by wrapping them in their historical context.
The stories McGregor sprinkles throughout his book serve as an ample warning against rushing blindly into China without first learning a great deal about the country's history, culture, legal system, and values.
McGregor ends each chapter by bulleting the highlights and summarizing the implications of the concepts covered for the reader. The author writes in the journalistic style which makes this book a very easy read. He is also an engaging speaker. I've had the chance to listen to him a couple of times
By Gunjan Bagla Author of Doing Business in 21st Century India
A fantastic introduction to the business culture off China This book should have been called "One Bill Partners," as there is very little about market research in the book. Rather, "One Billion Customers" is a series of highly readable case studies discussing businesses and joint ventures that went right and wrong in China. Jim's been in China for many years, speaks Chinese, and is able to distill political, economic, and cultural factors into witty advance, such as
"If your CEO wants to do business with China in order to turn around his business, lose his visa."
A brilliant book. Highly recommended.
A Must Read for Doing Business in China One Billion Customers teaches by example. This book contains modern-day stories of foreigners doing business in China; some do it well, some poorly and some in between. But behind each story is a theme of what can, should, and should never be done when dealing with the Chinese, especially on their turf. There is no doubt that James McGregor is one of the foremost experts in the field given his time and experience in China and his journalism and research skills shine in the stories he relates to the reader. This book is also useful from a historical perspective given the historical details of modern-day China McGregor includes in One Billion Customers. Admittedly, I am not in a position to currently do business in China and as such, this book dragged on a bit for me. But if I ever were to be in China with a specific business task at hand, this book would never be more than an arm's length away.
Interesting case studies on China's business environment In the foreword to One Billion Customers James McGregor states that his goal was to "convey timeless insights and commonsense lessons about Chinese business practices, and the deeply ingrained thinking and behavior patterns of Chinese people." While McGregor does not argue a single, central thesis, he does return to the importance of understanding the wants and needs of China as a country throughout the book. The book is structured around a series of case studies, each designed to illustrate a number of points. The cases cover sectors from the aerospace industry, to financial services, to telecommunications, and involve actors as varied as Boeing, China Unicom, and Rupert Murdoch.
Each case study begins with an overview of the general situation, details the relevant organizations, actors, and rational behind various actions. The case studies conclude with a section titled: "What this means for you," in which McGregor discusses how lessons from the given case should impact how foreigners conduct business in China.
Overall, One Billion Customers achieves its stated goal. The book provides an engaging, informative, and nuanced view of the Chinese business environment. McGregor also gives dozens of succinct, commonsense recommendations for foreign business leaders who hope to succeed in China.
Must Read A must read for anybody interested in the last 25 years of economic development in China.
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