ach year, students in Fairleigh Dickinson University’s MBA in management program with a global business administration concentration (Global MBA) gain a first-hand look at planning and conducting business internationally. For the past two years, students in the program’s capstone course, Global Business Planning, have visited one of the world’s fastest-growing economies and the most populated nation on earth: China. During their two-week trip, they attend lectures at top universities, tour leading corporations and visit historic and cultural attractions such as the Great Wall and the Forbidden City. As a follow-up to their international experience, students develop analyses and marketing strategies for entering the Chinese market. In the following account, Pattarin Chumnumpan, a 2007 Global MBA graduate from Thailand, provides FDU Magazine with a glimpse of her capstone experience in China.
GETTING TO KNOW CHINA
It is truly impossible to explore China in two weeks. But, we were able to travel to four of its most interesting locations in terms of economics and trade: Beijing, Shanghai, Shenzhen and Hong Kong.
We attended lectures at leading universities: Capital University of Economics and Business (CUEB) in Beijing, Shanghai University of Finance and Economics and Shenzhen University. The trip also gave us time to explore and discover China as a historical, cultural, educational and economic experience. We visited famous historic places as well as commercial areas, including the Silk Market in Beijing, Pudong New Developing Area and the Bund in Shanghai, Lau Ho Commercial Mall in Shenzhen and Stanley Market in Hong Kong.
BEIJING
Beijing is the capital city of China. We spent six days at CUEB learning about business opportunities in China and Chinese culture. We gained an in-depth knowledge of the differences between Western and Oriental [Eastern] people in their beliefs, way of life and traditions, particularly as they affect business activities and the decision-making process. It was fascinating to learn about such details. For example, numbers affect the way Chinese people live their lives. For instance, they believe the number four constitutes bad luck.
We also visited historic sites including the Forbidden City (the Imperial Palace), Summer Palace (Yiheyuan), Tiananmen Square and the Great Wall. I can only imagine the great power of the Chinese empire and its perseverance in building this wall.
Beijing is considered the best place to study the Chinese language. I observed students from many countries who came to study in Beijing. We also saw preparations for the 2008 Summer Olympics, including the Olympic stadium and construction and renovation of hotels around the city. The aim of China is to be the number-one tourist destination by 2010.
We visited two manufacturers in Beijing, Beijing Yangjing Beer Group Corporation and Hyundai. After less than 10 years of operation, Beijing Yangjing has become the leading brewing company in China. Almost all the students in our group who tried the beer said it was the best beer they had tasted.
On our visit to Hyundai, we saw the modern way of assembling cars, using robots and high-technology machines. The presenter also told us that Chinese people tend to buy cars with cash. I realized that there is a bright future for the automobile industry in China. The company’s production increases every year to satisfy market demands. The growth of China’s road infrastructure will support an increasing number of cars, and the rise in spending power of the Chinese people will enable them to easily own cars.
SHANGHAI
After staying for a week in Beijing, we flew to Shanghai, the largest city in China. At one time colonized by the French and the British, Shanghai was the most competitive city in Asia. It still is the most competitive city in China, particularly in the areas of manufacturing transportation equipment, high-quality steel products and medical instruments as well as in service industries. The Shanghai government attracts foreign investors through lower income taxes for foreign companies (up to 25 percent), while local companies pay taxes at 33 percent.We went to Nanjing Street, which is the largest shopping area in Shanghai, and visited the Bund. Located on the banks of the Huangpu River, the Bund is the home of major banks from around the world and contains unique architecture from the early 20th century. In addition, Shanghai contains ancient places such as Yuyuan Garden.
We also visited the Oriental Pearl TV Tower in the Pudong New Developing Area. Also located along the Huangpu River, Pudong has emerged as China’s financial and commercial hub. Pudong used to be mainly farmland and countryside until 1990, when the Chinese government decided to set up a special economic zone, encouraging the growth of multinational and financial services organizations in the area.
SHENZHEN
While the city is only 25 years old, Shenzhen has the highest wage rate in China’s mainland. Yet the average age of those who live in the city is only 24 years. The development of the city was made possible through the establishment of special economic zones after the country’s economic reform in 1978. A fishing village at that time, Shenzhen was chosen because of its strategic location, which permitted easy travel to and from Hong Kong.
By 2005, Shenzhen accounted for 15 percent of total Chinese income. Some statistics have revealed that its imports and exports have ranked number one in the country for almost a decade.
The Chinese government wants Shenzhen to become “the Silicon Valley” of China, and because of that, many information technology (IT) experts are flowing into this area.
While in Shenzhen, we visited the big electronics production plants. One of these, the Konka Group, exports its products, such as refrigerators, mobile phones, televisions and DVD players, to Western countries, including the United States. We saw many Chinese people carrying Konka’s phones.
HONG KONG
Our group spent only one night in Hong Kong, but it was wonderful. We visited Victoria Peak, the most famous tourist attraction with around seven million visitors a year. I have seen Hong Kong quite often in movies, so it was very exciting for me personally to stand in the same place where my favorite actor, Andy Lau, once stood. [Lau has been one of Hong Kong’s most commercially successful actors since the 1990s.]
We visited one of the most famous jewelry companies in Hong Kong, and we became aware that jewelry from Hong Kong is quite well known because of its glyptography [engraving of gemstones].
I have learned so many things through sightseeing, company visits and lectures at the universities. The most important thing is my growing awareness of the complexity of people from different parts of the world, the way they do business and insight into how to survive in this competitive world.
We left Hong Kong for home shortly after sunrise the next day. During the flight back, while everybody rested, I spent 15 hours on the plane watching movies. Of course most of them starred Andy Lau, and it made me hope that I will return to China some day soon.
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For a print copy of FDU Magazine, featuring this and other stories, contact Rebecca Maxon, editor, 201-692-7024 or maxon@fdu.edu.