IndustryWeek reports on China “dual strategy” concept
April 24th, 2008 by AdministratorJim Tompkins, CEO of Tompkins Associates, and Technomic Asia’s Steve Ganster spoke at North American Material Handling Show about the need for businesses to develop dual strategies to succeed in China.
IndustryWeek’s Adrienne Selko reported on the China presentation here. From the IW article:
Companies should develop operations in China that export back to the U.S. as well as sell to customers within China, says Tompkins. “Integrate sourcing from China with product sales in China and make Asia part of your overall global supply chain and customer base,” he adds. This dual strategy also recognizes the growing middle class in China, currently estimated at 100 million. Opportunities for sales and distribution will expand as the middle class continues to grow.
Western companies require “competitive intelligence” in their Asian business strategies in order to be successful, however. “It is a mistake to assume that what works in the U.S. States or Europe will work in China,” says Ganster.
Read the full article here.
