Suitable for Growth |
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Contents:
Executive Summary ........................................................................................................3
Preface ..................................................................................................................................6
The Suitable for Growth (SfG) Project .....................................................................8
Progress barriers and preconditions for success ..................................................9
Key to success #1: Ambitions at Danish headquarters .................................. 10
Trusting China and Chinese partners ..................................................................... 12
A tendency to focus on existing developed markets .......................................... 12
Channeling resources from HQ to the subsidiary ............................................... 14
Key to success #2: Agility of organization .......................................................... 16
One company two ways of working ...................................................................... 18
Changing the brand to fit local taste is not an easy choice .............................. 19
Cannibalization threat or opportunity? .............................................................. 20
Making the mid-market attractive to sales people ............................................. 21
Key to success #3: Access to market insights ................................................... 24
Unlearn and relearn what you know about markets ......................................... 26
Getting close to customers .......................................................................................... 26
Lack of trust in employees .......................................................................................... 28
It's not necessary to speak Chinese to understand the Chinese .................... 28
The cultural barrier of "never say no" .................................................................... 29
Key to success #4: Availability of resources ....................................................... 30
HQ tend to underestimate and underinvest in China ........................................ 32
Breaking the deadlock of resources ......................................................................... 32
Building the HQ's trust ................................................................................................. 33
Making do with what you've got ............................................................................... 33
Next steps in the SfG Project .................................................................................... 35
Appendix ........................................................................................................................... 36