Open for Business

  1. China is the most open and competitive marketplace in the world. You must be “best in class” in what you want to do.
  2. Competition will come not just from other international companies but also from Chinese-owned and managed operations.
  3. Focus on doing a few things very well and outsource noncritical functions.
  4. Partner with those companies that are #1 or #2 in their particular niche.
  5. Have multicultural teams at all your operations.
  6. China is not the world’s lowest-labor cost center for unskilled labor; focus on hiring lower-cost, skilled workers (engineers, etc.) and strive for both a domestic as well as export market.
  7. Pay your taxes after getting good financial and accounting support.
  8. Have a government relations person at all your operations and make sure you have both national PRC government relations help as well as local support.
  9. Recruit and develop quality and long-term middle and senior leadership (both national and non-national); ruthlessly focus on leadership competencies being both your biggest internal problem as well as the area that you can become “best-in-class” in if you successfully mentor, promote, rotate, etc.
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Dwight Nordstrom

Dwight Nordstrom, B.A., M.B.A. is chairman of Pacific Resources International (PRI), a privately-held USA Holding Company for manufacturing investments in China, and a twenty year China BAM veteran.View Full Bio