Time’s person of the year: The Chinese Worker?


Great concept proposed by Time Magazine;  all the more reason to have a “China Strategy” discussion as part of your 3 – 5 year planning horizon. I especially think this is true if you’re in the consumer space. With an emerging middle class the size of the US population, this is a group that can’t be ignored. I’m not proposing that you enter China tomorrow; rather, this should at least be an issue/opportunity to explore during your strategic planning process. Questions to consider:
1. Are your products or services relevant to the Chinese consumer?
2. Does your company’s mission statement require that China be part of your strategic plan?
3. Are there existing products or channels of distribution already in China for your product/service?
4. Have your competitors entered the Chinese market? If so, have they been successful? Any lessons learned?

Posted via web from FASTInnovators

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2 responses to “Time’s person of the year: The Chinese Worker?

  1. For one of my companies I have had to import many products from China to remain Competitive in that industry. I would much rather buy local but in some cases “more like most cases” manufacturing local just cannot come close to the pricing from China.

    • Good point. Like individual businesses, countries tend to compete on their points of difference; in China’s case, a lot of cheap labor with an improving infrastructure makes it a low-cost manufacturing location. Vietnam is also becoming a go-to location for this, but the country is trying to focus its expertise in order to establish a more sustainable position in the global economy.

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