In any given year, the Chinese software market grows by 30% and the number of Internet users quadruples. Members of the group were surprised by the number of people who had cell phones and regularly surfed the Internet, especially in large, urban centers. On the downside, they found that counterfeit goods (from clothing and leather goods to software and CDs) were available at a fraction of the cost of legitimate merchandise. In addition, the members found that local merchants expressed an interest in doing business only with vendors with whom they had established relationships.
In this assignment, you will review different concepts discussed in the course and critically evaluate how the business venture you are proposing could be successful in a different business culture, such as China.
Using the Internet or the Argosy University online library resources, research how people do business in China and how the Chinese culture can affect your traditional business thinking.
Now, respond to the following questions:
What types of businesses would prosper in China? Why?
What are the challenges and risks associated with doing business in China?
What steps should Baxter take to address these challenges and risks in order to increase a chance of success in the market?