RACING TOWARD THE 21ST CENTURY: SOME CHALLENGES FOR MANAGERS IN CHINA

Douglas Allen, Somnath Basu, Chiu-Hung Tsai and Murray Young
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Douglas Allen: Daniels College of Business, University of Denver, U.S.A.
Somnath Basu: Daniels College of Business, University of Denver, U.S.A.
Chiu-Hung Tsai: Daniels College of Business, University of Denver, U.S.A.
Murray Young: Department of Business Administration, Bethel College, U.S.A.

Journal of Enterprising Culture (JEC), 1995, vol. 03, issue 02, 121-148

Abstract: The transformation taking place in China's economy is simultaneously characterized by rapid growth (estimated at 13% in 1992 and 1993), movement toward a free market economic model, and the "opening" of China to active participation in and by the outside world. As these changes take place, managers in China are challenged to adopt new management practices. This paper briefly discusses three major challenges facing managers in China today: 1) enhancing customer orientation; 2) increasing effective utilization of human resources; and 3) development of financial information systems. The paper warns against the temptation to "clone" free market economic systems and management practices. Instead, Chinese managers and policy makers can selectively adopt "best practices" from around the world even as they retain selected Chinese management practices and economic policies which remain effective models from which the rest of the world may learn.

Date: 1995
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DOI: 10.1142/S0218495895000076

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