Spent today at a really nicely put together China business conference in Atlanta put on by the Atlanta chapter of the National Association of Chinese Americans. I particularly liked the format which consisted mostly of panels where each speaker talked for about ten minutes, followed by Q & A. I spoke on the legal issues facing American companies going to China and will be doing a post on that.
There were truly many excellent speakers and I took hardly any notes other than to copy the following list of "Lessons Learned" as put forth by Clyde Tuggle, a senior vice-president at Coca Cola. Tuggle describe the list of the lessons Coke has learned from going into China, but he also said these same lessons hold true for everywhere else Coke has gone as well -- and since Coke is in every country other than North Korea, Myanmar and Cuba, that's a lot of countries.
I really liked the list both because I buy into it and because of its extreme simplicity.
Here goes:
- Take a long view of the market.?
- Find good local partners.
- Relationships matter; develop them.
- Quickly localize your business.
- Understand, embrace and embed into the local culture.
- Maintain the highest international standards.
- Strengthen your social license daily.
Good. And simple.
What do you think?
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