Localizing the global village: local firms competing in global markets

Article Abstract:

Local firms can compete with transnational firms if their actions are firmly based in the local culture and if they move from local strengths while being equipped with an in-depth understanding of the global production and consumption dynamics. Three domains where local firms can offer alternatives to standard global products are products grounded in local culture, information goods, and products for similar local conditions and the poor worldwide. Local firms must develop an innovative perspective, a global and local vision, self-crafted rather than transferred and imitated marketing skills and practices, partnerships and alliances, and a supportive political environment. Such firms can successfully travel on their alternative road within the global arena. (Reprinted by permission of the publisher.)

Foreign Operations Analysis, International aspects, Business enterprises, Business expansion, Business success, Foreign operations (Business)

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Can guanxi be a source of sustained competitive advantage for doing business in China?

Article Abstract:

The Chinese term guanxi, which mean good relations, is regarded as a source of sustained competitive edge for international firms with business dealings in China. However, guanxi has to be valuable and imperfectly imitable so that it will result in sustained benefits. Important elements for protecting the guanxi include maintenance of trust and credibility as well as maintenance of good public image or face value.

China, International relations, Negotiation, Negotiations

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