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Paper代写:Management of sino-foreign joint ventures

2018-08-14 | 来源:51due教员组 | 类别:Paper代写范文

下面为大家整理一篇优秀的paper代写范文- Management of sino-foreign joint ventures,供大家参考学习,这篇论文讨论了中外合资企业管理。中外合资企业管理非常复杂和富有挑战性,也更考验合资各方股东和经营管理团队的智慧和国际化管理水平。由于合资企业管理的挑战性,而且有不同文化背景的融合和碰撞,所以企业的管理者必须具备的是多样的素质和强有力的执行力。

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The management of sino-foreign joint ventures is more complex and challenging. It also tests the wisdom and international management level of the joint venture's shareholders and management team. Based on more than 20 years of experience in managing joint ventures between foreign enterprises and different types of state-owned enterprises and private enterprises in China, the author expounds some of his views.

By the end of 2014, the total number of foreign-invested enterprises in China had reached 81,0011, of which 310,814 were sino-foreign joint ventures, accounting for 38.37%, according to information provided by the ministry of commerce's foreign investment guide website. Since December 1978, when the third plenary session of the 11th central committee of the CPC formulated the policy of implementing domestic reform and opening up to the outside world, governments at all levels have attracted foreign capital into China through active and preferential investment promotion policies, so as to introduce foreign advanced technology and modern enterprise management system and narrow the gap with developed countries. Foreign investors are looking at China's huge market potential and the lucrative returns from entering the market. In particular, the preferential tax policy of the income tax law of the People's Republic of China on foreign investment enterprises and foreign enterprises issued in 1991 has greatly stimulated and encouraged foreign investment enterprises to increase their investment in China. In the past 20 years, the author has been lucky to participate in the negotiation and management of joint ventures and cooperation between foreign enterprises and state-owned enterprises and private enterprises, and has made the following discussion on some factors affecting the success of joint ventures.

As the management mode and structure of a joint venture is often determined by the outcome of the joint venture negotiation, the outcome of the joint venture negotiation is very critical to the later operation. In the author just take in charge of foreign investment in China's business operation and management, often can't understand how so low efficiency of foreign negotiations, Chinese companies and Chinese managers are very good for us to understand the problem, how become insurmountable barriers to foreign or is the bottleneck of negotiations, even for a long time without a conclusion. The longest joint venture negotiation in my impression has been six years from the initial contact to the final signing. However, after more than ten years of work and understanding, in the final analysis, the foreign side is concerned about how to guarantee their control over the enterprise, which includes the rights explicitly granted by law and also implies the actual control and influence in the operation. Therefore, the outcome of joint venture negotiation often determines the management structure, model and possible problems and risks in the future of the joint venture. Here are some specific joint venture cases to further elaborate.

If the foreign investors have technical advantages, and for the purpose of harmonizing the domestic and overseas markets, they usually require the holding in the joint venture negotiations. In the case of foreign ownership, the majority of the board's voting rights are controlled by foreign parties. But the Chinese can control and influence key decisions in business by exercising a veto or by voting by all board members. For example, on the key issues decided by the board of directors, such as overseas investment, equity transfer of the company, appointment and removal of the general manager or deputy general manager, and market access, if only the majority of the board of directors passes, China will eventually lose control of the company. Therefore, the Chinese side must strive for a veto to maximize its rights and interests in enterprise operation. Of course, if both parties hold a 50% stake, then the proportion of board members and voting terms often determine the true controlling party of the joint venture.

The normal purpose of any business investment is to return and sell at the highest price at the right time. Foreign investors are no exception, if it is the case of foreign holdings, usually will put forward the strong right to sell. Strong selling rights refers to if there is a third party investors to the controlling shareholder, is going to buy a percentage of equity, the company controlling shareholder has the right to require other small shareholders to a third party transfer its equity, with their small shareholders rejected, not for any reason must, in accordance with the shareholders and the third party's conditions of sale, the price is added to the purchase deal. The strong selling right protects the rights of major shareholders and forces minority shareholders to accept offers and transfer conditions. The most important point is that minority shareholders have no right to hinder major shareholders from selling their shares and have no right to bargain. The right to follow protects the interests of minority shareholders. When the controlling shareholders sell their shares, the minority shareholders have the right to join the transaction and follow the controlling shareholders to sell their shares of the company at the same conditions and prices. Thus it can be seen that the decision of minority shareholders is made actively under the right to follow and passively under the right to sell, which is restricted by the controlling shareholders. The right to follow protects the rights and interests of minority shareholders. The minority shareholders have the right of independent decision-making while the strong selling right protects the rights and interests of the controlling shareholders. The minority shareholders have no right of decision-making and can only be forced to accept and cooperate unconditionally. The strong selling right and the following right reflect the controlling shareholders' willingness to sell their shares in the future whether they really respect the minority shareholders in the cooperation and the two parties' right of speech in the joint venture.

One is the definition of the domestic market. As foreign enterprises started to enter China in the 1980s, mergers and acquisitions in the 1990s and after 2000 were in a period of frequent occurrence, so they often developed from one joint venture company at the beginning to multiple joint ventures at the later stage, which is consistent with the rapid development period of China's economy. In order to avoid the vicious competition between different joint ventures, it is often necessary to restrict the market sales scope of different partners. From the perspective of the foreign side, it is necessary to take measures to avoid confusion in the market sales within the group. However, from the perspective of different Chinese partners, this undoubtedly limits or even restrains the development space of enterprises to some extent, so this is the contradiction and focus of both sides. So both sides will argue the market range, China hopes that through the fight for the lion's share of the market scope to safeguard their own interests to maximize, and the foreign party to the other partners for the commitment and avoiding of group internal mutual grab customers may happen in the future, and will have to limit the market scope is limited to conflict the smallest area. In my opinion, if foreign investors have multiple partners in China, the sales of major customers must be controlled by the group, otherwise it is very difficult to coordinate. If no clear consensus is reached in the joint venture negotiation, it is very difficult to realize this point truly, because the Chinese partners of each joint venture subsidiary have already had a certain customer base and established good cooperative relations with the customer during the joint venture. In view of the fact that the interests of each Chinese partner are inconsistent, the competition between the foreign partners in different joint ventures in China is no less than the competition with other competitors in reality, and even there is often a case where people compete against each other secretly to grab customers. On the other hand, it is an agreement for the joint venture company to enter the international market. The foreign party usually wants to delay the time for the domestic joint venture company to enter the international market, or to coordinate the price for the domestic joint venture company to enter the international market, so as to guarantee its sales volume and sales profit in the foreign market. The Chinese side should strive to show that even if the joint venture company does not go to the foreign market, other competitors will go to the foreign market to compete with the foreign party. Therefore, the foreign party should adopt a positive guiding strategy instead of blindly restricting the domestic joint venture company to enter the foreign market.

The biggest concern of foreign cooperation is that after cooperation with China, once acquiring foreign technology, China sets up another company to compete with it. Therefore, in the joint venture terms, the Chinese shareholders, their affiliates and the core employees of the joint venture company are often subject to very strict non-competition clauses to protect their rights and interests to the maximum extent from the legal level. The majority of Chinese shareholders still abide by business ethics and respect the cooperation agreement signed by both sides, but there are still a few cases. Sometimes the core staff will also become competitors, I have encountered in reality such a case. The technicians of the joint venture company learned the core of the technology through the process of the foreign party manufacturing the proprietary production equipment and maintaining the equipment at home, and then sold the technology to the joint venture's competitors in China for high profits, which greatly weakened the foreign party's competitive advantage in China. Therefore, the foreign party usually insists that the core parts of the equipment are manufactured in foreign countries to avoid technology leakage or delay the time of technology leakage and ensure the absolute advantage of products and technologies in the market.

As the management of joint ventures is more challenging, it is a fusion and collision of different cultural backgrounds. Excellent enterprise managers must have a variety of qualities, including their integrity, a high sense of responsibility, professional management knowledge, excellent communication skills and strong executive ability, all of which are indispensable. Therefore, the author has repeatedly mentioned the importance of excellent management team to the success of the enterprise in the article "the road of internationalization of Chinese enterprises". In the management of the joint venture company, the excellent management team includes both international management talents and local excellent employees. Foreign management talents can share their advanced management experience in foreign countries with Chinese employees to avoid unnecessary detours by Chinese enterprises. But the success of the joint venture must be achieved through the active participation and support of local outstanding employees. However, in the case of failure, we also see that in the case of foreign investment holdings, a large number of foreign employees are sent out out of distrust of the Chinese side, resulting in poor development of the enterprise due to non-compliance, and the investment ended in failure. Some foreign parties agree with the idea of hiring Chinese employees for important management positions, but prefer to hire Chinese employees who only listen to the foreign side or just protect the interests of the foreign side. On the surface, it seems that these localized employees they reuse are sparing no effort to protect the interests of foreign parties. However, such localized employees will eventually lead to the deterioration of sino-foreign relations. On the surface, it seems to damage the interests of China, but in fact, the interests of foreign parties are also damaged. Therefore, we have repeatedly emphasized that the local managers should balance and consider the interests of both parties of the joint venture while protecting the interests of foreign parties, so that the cooperation between the two parties of the joint venture can stand up to the test and be more long-term.

Chinese and foreign joint venture shareholders should be tolerant and pragmatic to different cultures and management styles, which is very important to the success of the joint venture. In fact, in different stages of enterprise development and different types of enterprises, the talents and management required are not the same, but as long as the results are helpful and beneficial to the development of the enterprise, different management methods should be integrated and learned from others. As a manufacturing enterprise, we all look forward to industrial automation to reduce the physical labor expenditure of employees. However, industrial automation is backed by a large amount of equipment investment, which also needs the cash flow and benefits of enterprises to guarantee the continuous investment. If the enterprise does not have enough customers and market share growth to guarantee the profit of the enterprise, the shareholders cannot continue to supply the enterprise with blood.

The author once encountered a case where the foreign party hoped that all the joint ventures would introduce foreign automatic assembly lines. From the perspective of the foreign party, the quality and production efficiency of the products of the enterprise would be improved in the long run, and even the export of equipment of the foreign party would be greatly rewarded in the short run. However, for the joint venture and the Chinese shareholders, the result is that the product cost will be much higher than that of the competitors and the customer will not fully pay for the increased cost, which obviously is not good for the development of the joint venture. Corp., two different types of the joint venture company has taken a different strategy, a proposal, acceptance of foreign all device use the imported automatic assembly line, as a result, the production cost is too high, did not produce and sales of product price advantage, cause a downturn of the market share and profits, enterprises in the late development power obviously inadequate. And the shareholders of a joint venture enterprise to grasp the domestic market is very accurate and very understand product production process, after consultation of shareholders on both sides, the final compromise products is part of the introduction of foreign high-end automation assembly line guarantee the quality of high-end products, most of the standardized products still use the domestic equipment, imported equipment production product can guarantee enterprise leading position in the market, most of other domestic equipment production of products to meet customer quality requirements at the same time, also can ensure the competitiveness of products in the market. As a result, the joint venture has come from behind, with a rapidly growing market share and very lucrative returns, and Chinese shareholders eventually becoming strategic partners for foreign partners around the world. Therefore, management must make appropriate decisions according to actual conditions rather than copy business theories, which is also the reason why management is more art.

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