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I read the book, Made in China, by Donald N. Sull. This book explains the hardships that China's economy has gone through and what makes it the second largest economy in the world after the United States. I am very glad I read this book after my stay in China because I was able to read facts and relate it back to real life examples I experienced in China. For example, one fact in the book states that homegrown competitors rank high on the list of competitive challenges while global brand leaders such as Coca-Cola have come across stiff competition in China. I can relate this back to learning about how Best Buy did not succeed in doing business in China because they were not able to adapt to changes that had to be made. Other businesses, such as IKEA, have succeeded in China. This is because IKEA adapted to changes and designed their room displays to fit the Chinese culture.
Another example from the book I can relate to a real life experience is when the book explains the SAPE cycle: managers sense the overall situation, anticipate emerging threats and opportunities, prioritize necessary actions, and execute these priorities in a timely and effective manner. This cycle allows for flexible priorities, strategic decision making, and operating improvements. In a simple way, this relates to the market right next to our hotel in Tianjin. The managers or owners of these vendors or food stands must sense or analyze how much they plan to sell for the day or review how much they made the day before. If a new vendor or food stand enters the competition, owners of other food stands must anticipate how this food stand will affect their sales. To make the most profit, owners of the food stand must prioritize their plans for the day and follow through with these plans throughout the day. The SAPE cycle is an alternative to the traditional strategic planning process that is often used throughout businesses in China. The SAPE cycle has helped China's economy succeed and become the second largest economy in the world.
There are many other examples from this book about China's economy that reminded me of real life examples I experience while studying abroad. This book and my study abroad experience gave me a new perspective on what I thought about China's economy. By 2045, some analysts believe China's economy could overtake America's. The future of China's economy is unknown, but with courageous leaders, there is a good chance China's economy will continue to succeed.

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This page contains a single entry by dunfe007 published on June 14, 2012 2:08 PM.

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