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The China Factor: Leveraging Emerging Business Strategies to Compete, Grow, and Win in the New Global Economy

Amy Karam, Ken Wilcox (Foreword by)
ISBN: 978-1-119-27401-8
304 pages
June 2016
The China Factor: Leveraging Emerging Business Strategies to Compete, Grow, and Win in the New Global Economy (111927401X) cover image

Description

The Innovation of Globalization – proven strategies to succeed and out-compete emerging competition

Does your company know how to compete effectively in the evolving global business arena? What tactics must your company use to overcome price discounting wars that cut into your margins? What are the strategies your new rivals incorporate that may prove more valuable to customers than the superior products you offer?

The China Factor equips Western businesses with a practical framework for competing successfully in today’s ever-changing global markets. Written by an expert in competitive strategy and global market expansion, this book is packed with insights gained through first-hand experience leading competitive programs at a high-tech multinational corporation and extensive research. 

When it comes to globalization, the rules have changed—what was once nice-to-know is now need-to-know, and this book lays it out in a clear, no-nonsense style. Based on cases with over 50 countries, you will learn why a premium product, though domestically successful, may not be well received in foreign markets. You’ll also discover the critical factors that contribute to success in both emerging and established markets. Disruptive competitors are transformed from threats to examples as you learn to recognize opportunities for re-evaluation, and shift your strategy to stay ahead of the curve.

The economic rise of China and other new entrants is challenging Western companies in new ways. This book explains why, and provides actionable strategies for success in any market.

  • Grow and maintain an Innovation Advantage using 5 models
  • Learn from disruptors how to win your emerging markets customers
  • Understand the power of politics in business
  • Develop a deeper Culture IQ to expand your customer base
  • Use a 5-part Strategic Framework to formulate new sales tactics

You’re already well-aware of the global threat to Western business, and endless analysis only goes so far toward a solution. You need to know how to respond, survive, and thrive, and just how to regain the competitive edge. The truth is that Western companies must change they way they do business, and push innovation beyond the product and into every aspect of every operation – they need to be innovative in how they do business abroad. The China Factor provides a clear action plan, and case studies from global leaders like Cisco, Xiaomi, and Apple with insightful strategies for changing and winning the game.

Endorsements

The China Factor is right on the mark. It addresses a real need, one that very few others are tackling—the action that US and other Western-based companies can take in response to the China challenge. Global competitiveness is a huge problem for the West and companies are ill-prepared.The China Factor goes beyond what other books do, providing an important, insightful, and practical prescription on how companies can shift their strategy…”

— Ken Wilcox, former CEO and chairman, current Chairman Emeritus, Silicon Valley Bank

The China Factor’s case studies and practical resources make this book a must-read for any corporation that wants to win globally, particularly as innovation is being redefined.”

—SIMON KHALAF, SVP, Yahoo Inc.

The China Factor provides a new strategic framework and an essential set of marketing guidelines for Western companies that have to compete or partner with Chinese firms in OECD countries, China or emerging market countries.”

—DR. RAYMOND LEVITT, Kumagai Professor of Engineering, and Director, Global Projects Center, Stanford University

“High tech companies need to shift their innovation approach when going global and The China Factor is the ultimate guide to sustainable success in Emerging Markets. Innovation does not apply solely to products but also to business strategies, especially when looking at international expansion.”

—    Jean-Baptiste Su, technology columnist, Forbes

“A refreshing handbook for anyone interested in competing in the new global economy.”

—CALESTOUS JUMA, Harvard Kennedy School, Professor of the Practice of International Development 

“This work is a compelling guide into the complexity and the great rewards of doing business in Emerging Markets—and for those who are looking for new growth opportunities for both products as well as services. The China Factor is the ultimate guide into sustainable success in Emerging Markets.”

—ANTHONY R. VONSÉE, former Managing Director Sales, Emerging Africa, Cisco Systems

“Amy Karam has done the business community a huge favor by making sense of many of the trends which are reshaping the global environment at a breathtaking rate, and then offering her thoughts on how to take advantage of the opportunities.”

—BRUCE PICKERING, VP Global Programs, Asia Society, Northern California

“In The China Factor, Amy Karam discusses how the way we innovate has changed and evolved. It can no longer be done in isolation but involves going beyond international borders. As she points out, learning about the culture and uniqueness of new markets and tapping into what has worked (and what has not!) in other regions is critical to success.”

— Sangeeta Anand, SVP Product Management and Marketing, F5 Networks

“I especially liked Karam’s advice on using U.S. Government resources—an often overlooked force multiplier for American businesses, and how best to leverage your own company’s Government Affairs groups to succeed. This is a must-read!”

—FRED SCHWIEN, former Executive Secretary of the U.S. Department of Commerce and Boeing Executive

“Amy was directly involved in developing a sales strategy customer by customer for several years. She lived and breathed the battle of protecting existing accounts, or winning new accounts with a competitor whose price was a fraction of Cisco’s.”

—    Tam Dell’ Oro, CEO of Dell’Oro Group

“I loved this book. The China Factor will provide you specific guidance and invaluable insights for expanding your business and achieving success globally.”


— Nanette J. Bulger, CEO, executive director of the Strategic and Competitive Intelligence Professionals (SCIP) Association

“For today’s global strategists, Amy Karam’s book, The China Factor, offers compelling insights into how to effectively win in the 21st century. In addition to the traditional 4 Ps of marketing, she explores a fifth P, the P called politics, which US-based organizations need to recognize, leverage, and occasionally counteract in order to be competitive. The China Factor blazes a new trail for business to follow in striving to achieve global success.”

— Dr. Juan P. Montermoso, professor of Practice in Marketing, Leavey School of Business, Santa Clara University

“Amy Karam is a visionary writer! As a global mentor, not only am I going to use it myself as a reference, but will also suggest it to start-ups to use it as a guide! She has eloquently highlighted how to harness competition, partnerships and cross-cultural learning to stimulate innovation & business success.”

— Hulya Koc, Serial Entrepreneur, Angel Investor & Global Mentor, co-founder of Keiretsu Forum Istanbul Chapter

Amy Karam is a highly sought–after speaker, consultant, author, and corporate instructor of Stanford University courses, as well as her own workshops. As a strategy consultant, she equips startups and established corporations to succeed in global markets with actionable strategies and execution plans. She has worked with companies such as Cisco, Apple, Visa, Nationwide, Capital One, AT&T, and Bell.

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Table of Contents

Foreword by Ken Wilcox xi

Introduction 1

SECTION I State of Affairs 13

CHAPTER 1 The Art of War . . . and Money 15

CHAPTER 2 East and West: The Current State of Affairs 21

CHAPTER 3 How China Came Up the Ladder (and So Quickly) 29

CHAPTER 4 The West No Longer Rules 35

CHAPTER 5 Introduction to the Marketing Framework for Our Analysis 41

SECTION II China 49

CHAPTER 6 How the Chinese Do Business à la the 5Ps: A Brief Summary 51

CHAPTER 7 Market Segmentation and Target Market Selection + China’s Market Penetration Approach 57

CHAPTER 8 China: Product => Solution and Innovation 65

CHAPTER 9 China: Price => Value-Add 73

CHAPTER 10 China: Place => Partnerships 85

CHAPTER 11 China: Promotion => Customer Relationships and Culture 93

CHAPTER 12 China: Politics => The 5th P—The Geopolitical Dimension 105

SECTION III The West 113

CHAPTER 13 Recommendations for the West and Application of the 5Ps 115

CHAPTER 14 The West: Product => Solution and Innovation 119

CHAPTER 15 The West: Price => Value-Add 131

CHAPTER 16 The West: Place => Partnerships 143

CHAPTER 17 The West: Promotion => Customer Relationships and Culture 151

CHAPTER 18 The West: Politics => The Geopolitical Dimension 167

CHAPTER 19 Innovation Models: West and East 185

CHAPTER 20 The West: Positioning 205

SECTION IV Case Studies 217

CHAPTER 21 Frenemies: If You Can’t Beat Them, Join Them 219

Conclusion 239

Acknowledgments 241

Appendix A 243

Appendix B 245

Notes 253

Bibliography and Further Reading 261

About the Author 267

Index 269

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Author Information

Amy Karam is a highly sought–after speaker, consultant, author, and corporate instructor of Stanford University courses, as well as her own workshops. As a strategy consultant, she equips startups and established corporations to succeed in global markets with actionable strategies and execution plans. She has worked with companies such as Cisco, Apple, Visa, Nationwide, Capital One, AT&T, and Bell.

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Press Release

June 15, 2016
Leveraging Emerging Business Strategies to Compete, Grow, and Win in the New Global Economy

The Western world has been a hub of power, influence and authority for decades. The East, however, has upset the balance. After years of evolving as an emerging economy, China has impacted the dominance of the West—especially in the business world.

In order to remain competitive in the global marketplace, Western companies must uphold what author Amy Karam coined, their innovation advantage, by evolving their approach to creating new products as well as the way they do business abroad.

The China Factor: Leveraging Emerging Business Strategies to Compete, Grow, and Win in the New Global Economy (WILEY; June 2016; Hardcover; $30; ISBN: 978-1-119-27401-8) by Amy Karam equips Western businesses with a practical framework for competing successfully in today’s ever-changing global markets. Written by an expert in competitive strategy and global market expansion, this book is packed with insights gained through first-hand experience leading competitive programs at Cisco and detailed examples of numerous multinational corporations.

“Most of us have seen and felt the impact of the ‘China Challenge’ at all levels. At the macro level, we see headlines of China influencing Western stock markets and the Dow plunging by 1000 points in one day,” Karam explains. “At the company level, competitive positions are being challenged with different Chinese business practices, such as severe price cutting and the use of politics to influence business decisions. Further, doing business in emerging markets is no longer a novelty but a necessary part of a company’s strategic growth plans – however, business is done differently there - and Western companies are discovering that product superiority doesn’t always win you the business.”

When it comes to globalization, the rules have changed—what was once nice-to-know is now need-to-know. Based on cases with over 50 countries, readers will learn why a premium product, though domestically successful, may not be well received in foreign markets. Karam also explores the critical factors that contribute to success in both emerging and established markets. She explains why disruptive competitors are transformed from threats to examples, as businesses learn to recognize opportunities for re-evaluation, and shift their strategy to stay ahead of the curve.

The China Factor provides a clear action plan, and case studies from global leaders like Cisco, Xiaomi, and Apple with insightful strategies for changing and winning the game, including how to:

  • Grow and maintain an Innovation Advantage using 5 models
  • Learn from disruptors how to win your emerging markets customers
  • Understand the power of politics in business
  • Develop a deeper Culture IQ to expand your customer base
  • Use a 5-part Strategic Framework to formulate new sales tactics

“You’re already well-aware of the global threat to Western business, and endless analysis only goes so far toward a solution. You need to know how to respond, survive, and thrive, and just how to regain the competitive edge,” Karam adds. “The truth is that Western companies must change the way they do business, and push innovation beyond the product and into every aspect of every operation – they need to be innovative in how they do business abroad. There is a lot of opportunity, particularly in emerging markets— it just comes down to having the right strategy and effective execution.”

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