Phd Eva Perea

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Phd Eva Perea Eva PEREA ACCESSING THE CHINESE MARKET A critical look at the challenges and best practices of Spanish firms Tesis Doctoral dirigida por Dr. Ferran PORTA JACQUES Universitat Abat Oliba CEU FACULTAD DE CIENCIAS SOCIALES International PhD Departamento de Ciencias Económicas y Empresariales 2013 2 Standing by the deep valley makes you think deep, and scaling the heights makes you aim high. Read at the Humble Administrator’s Garden in Suzhou, July 2011. Success depends upon previous preparation, and without such preparation, there is sure to be failure CONFUCIUS (Chinese philosopher, 551-479 BC) 3 4 Abstract China represents today the world’s most-attractive emerging market. Most economic indicators agree on this. China embodies a country with a thriving GDP, a growing urban population, a burgeoning middle class and an increase in both private and public spending. In spite of all this, Spanish exports to China are still very low and underscore an unfavourable and chronic trade deficit. Efforts are being made to redress this trade imbalance. The evolution from 2009 onwards shows an increase in Spanish exports to China, a small reduction in the deficit and an increase in the Direct Foreign Investment. However, put together this still represents a very modest change. The present paper is based on three hypotheses: in the first place, accessing the Chinese market dictates that foreign firms in general, and Spanish ones in particular, adapt their products or services to this specific market. In the second place, China offers an attractive market made up of many consumers and a significant emerging middle class. Spain is not taking advantage fully of this opportunity. Finally, accessing the Chinese market is full of obstacles: it requires a significant investment, skilled staff, a long payback period, much patience and endurance. Therefore, it is a market only accessible for large firms. While the first two are confirmed, the third one is not. Some large and highly recognised Spanish brands are being very successful in China. But there are also hundreds of smaller ones that operate fruitfully in this country, in all sectors. The survey has confirmed that there are significant chances for success independent of the company size. The crucial question is to have a very clear strategy for implementation. Therefore we can conclude that it is not mainly about size (even if that can help at times) but about having a clear strategy and fulfilling certain requirements that will be analysed in detail. A thorough research has been carried out using quantitative and qualitative data. A questionnaire was sent to Spanish firms in China to categorise who they are and identify the opportunities found; study their difficulties and future plans in the country; to find out the best practices: a practical framework for corporate performance that will support practical strategic action for our businesses. All these variables are found fully developed in the chapters ahead. Finally, we may conclude that the world is moving at a turbulent pace and businesses try to adapt quickly to those changes. If in the recent past, western firms moved to China to access their cheap labour cost, nowadays they try to access the growing domestic market. Opportunities are opening thanks to a rapidly-increasing middle class that is eager for consumption. Access is difficult and full of obstacles. At the same time, short term profits are not easily available. But opportunities are there for Spanish firms of all sizes and sectors (one in particular being quality tourism from China to Spain). The document proposes to unify efforts of the different Autonomous Communities to promote Spain and its brand. China is here to stay and Spanish firms are in China to stay. 5 Resumen China representa hoy el mercado emergente más atractivo del mundo. Muchos indicadores económicos lo confirman: China encarna un país con un PIB próspero, una creciente población urbana, una floreciente clase media y un aumento en el gasto privado y público. A pesar de todo esto, las exportaciones españolas a China son aún bajas y subrayan un déficit comercial desfavorable y crónico. Por supuesto, se hacen esfuerzos para corregir este desequilibrio de comercio. La evolución a partir de 2009 muestra un aumento de las exportaciones españolas a China, una pequeña reducción en el déficit y un aumento en la inversión directa. Sin embargo, todo esto todavía representa un cambio muy modesto. El presente documento se basa en tres hipótesis: en primer lugar, el acceso al mercado chino dicta que las empresas extranjeras en general, y españoles en particular, adapten sus bienes o servicios a esta demanda específica. En segundo lugar, China ofrece un atractivo mercado conformado por muchos consumidores y una significativa emergente clase media. España no aprovecha plenamente estas oportunidades. Finalmente, el acceso al mercado chino está lleno de obstáculos: se requiere una inversión importante, personal especializado, un período de recuperación largo, mucha paciencia y perseverancia. Por lo tanto, es accesible sólo para las grandes empresas. Mientras se confirman las dos primeras hipótesis, no ocurre lo mismo con la tercera. Algunas grandes y muy reconocidas marcas españolas están teniendo gran éxito en China. Pero también hay cientos de pequeñas empresas que operan de manera fructífera en este país, en todos los sectores. La encuesta realizada confirma que hay importantes posibilidades de éxito, independientemente del tamaño de la empresa. La cuestión crucial es tener una estrategia muy clara para la implementación del proyecto en China. Por lo tanto, podemos concluir que lo fundamental no es principalmente el tamaño (aunque pueda ayudar) sino tener una estrategia clara y cumplir con ciertos requisitos que se analizarán en detalle. Se ha realizado una exhaustiva investigación utilizando datos cuantitativos y cualitativos. Se envió un cuestionario a las empresas españolas en China para categorizar quiénes son e identificar las oportunidades; estudiar sus dificultades y planes para el futuro en el país; descubrir las mejores prácticas que respalden la acción estratégica de nuestras empresas. Todas estas variables se encuentran desarrolladas en los capítulos siguientes. Finalmente, podemos concluir que el mundo se halla en un entorno turbulento y las empresas tratan de adaptarse rápidamente a los cambios. Si en el pasado reciente las empresas occidentales se trasladaron a China para acceder a su mano de obra de bajo costo, hoy en día intentan acceder al creciente mercado interno. Se abren oportunidades gracias a una clase media ansiosa por consumir que aumenta rápidamente. El acceso es difícil y lleno de obstáculos y las ganancias no se consiguen a corto plazo. Pero existen oportunidades para las empresas españolas de todos los tamaños y sectores (en particular, el turismo de calidad de China hacia a España). El documento propone unificar esfuerzos promover la marca España ya que China está aquí para quedarse, y las empresas españolas están en China para quedarse. 6 Resum Xina representa avui el mercat emergent més atractiu del món. Molts indicadors econòmics ho confirmen: Xina encarna un país amb un PIB pròsper, una creixent població urbana, una ascendent classe mitjana i un augment en la despesa privada i públic. Malgrat tot això, les exportacions espanyoles a Xina són encara baixes i subratllen un dèficit comercial desfavorable i crònic. Per descomptat, es fan esforços per corregir aquest desequilibri de comerç. L'evolució a partir de 2009 mostra un augment de les exportacions espanyoles a Xina, una petita reducció en el dèficit i un augment en la inversió directa. No obstant això, tot això encara representa un canvi modest. El present document es basa en tres hipòtesis: en primer lloc, l'accés al mercat xinès dicta que les empreses estrangeres en general, i espanyoles en particular, adaptin els seus productes o serveis a aquesta demanda específica. En segon lloc, Xina ofereix un atractiu mercat conformat per molts consumidors i una significativa emergent classe mitjana. Espanya no aprofita plenament aquestes oportunitats. Finalment, l'accés al mercat xinès està ple d'obstacles: es requereix una inversió important, personal especialitzat, un període de recuperació llarg, molta paciència i perseverança. Per tant, és accessible només per a les grans empreses. Mentre es confirmen les dues primeres hipòtesis, no ocorre el mateix amb la tercera. Algunes grans i molt reconegudes marques espanyoles estan tenint gran èxit a Xina. Però també hi ha centenars de petites empreses que operen de manera fructífera en aquest país, en tots els sectors. L'enquesta realitzada confirma que hi ha importants possibilitats d'èxit, independentment de la grandària de l'empresa. La qüestió crucial és tenir una estratègia molt clara per a la implementació del projecte a Xina. Per tant, podem concloure que el fonamental no és principalment la mida (encara que pugui ajudar) sinó tenir una estratègia clara i complir amb certs requisits que s'analitzaran detalladament. S'ha realitzat una exhaustiva investigació utilitzant dades quantitatives i qualitatives. Es va enviar un qüestionari a les empreses espanyoles a Xina per categoritzar qui són i identificar les oportunitats; estudiar les seves dificultats i plans per al futur al país; descobrir les millors pràctiques: un marc que recolzi l'acció estratègica de les nostres empreses. Totes aquestes variables es troben desenvolupades en els propers capítols. Finalment, podem concloure que el món avança a un ritme turbulent i les empreses tracten d'adaptar-se ràpidament als canvis. Si en el passat recent les empreses occidentals es van traslladar a Xina per accedir al seu baix cost laboral, avui dia intenten accedir el mercat intern creixent. S'obren oportunitats gràcies a una classe mitjana ansiosa per consumir que augmenta ràpidament. L'accés és difícil i ple d'obstacles. Al mateix temps, els guanys no s'esperen fàcilment a curt termini. Però existeixen oportunitats per a les empreses espanyoles de totes les grandàries i sectors (un en particular és el turisme de qualitat de Xina cap a Espanya).
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