China Risk & Strategic Planning
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China and other emerging markets in Indo-China are very different in terms of economics. They were once communist, centrally-run or in the case of India highly protected. Thus the classical tools, techniques, methods, frameworks, strategies, ideologies or even the repertoire of skills effective in non-communist and thus freer economies may be less than relevant, (Foo).
Besides transitional changes in economics, there is a host of very different institutional, political and regulatory norms that have to be overcome. For instance, there is the lack of a deeply ingrained concept of the rule of law within emerging markets. Thus it is imperative for manufacturers to adapt their technology strategy to new reality. Without rigorous policing of intellectual rights, it takes a bold manufacturer to bring in the latest state-of-the-art technology into an emerging country. Yet, it is the preferred investment sought by the authorities. The bureaucrats are eager to try and catch up with the industrialized and new industrializing Asian countries, (Foo).
Once we have set realistic goals and developed operating strategies for entering the China market, we implement, monitor and evaluate each entry step. We adjust goals and strategies as they proceed to maximize long-term gains and reduce risks. We will develop initial operating budgets and forecast staffing requirements for the first several years of a proposed entry into China. We want to smoothly incorporate China operations into the responsibilities of existing US staff. We must obtain staff training for our lack of outsourcing experience and need of help learning to communicate with Chinese personnel, including the hiring and training of Chinese staff, including bi-lingual managers, (China Strategies).
Control and evaluation.
One of the most useful tools in successfully managing a project is the development of and adherence to a detailed work schedule. A good work schedule lists the various tasks, milestones, completion dates, interim reporting times, meeting times, and deadlines for completion of various products. A schedule lets the consultant and the agency know what is to occur and when. It also allows the agency to monitor whether appropriate progress is being made. It is best when the agency and the consultant develop the work schedule together during the contract negotiations and include it in the formal agreement. Even when there is mutual agreement on scheduling, work programs appended to contracts are often somewhat one-sided, specifying primarily the time schedules that the consultant must meet. The work schedule developed at the beginning of the project should