Diploma Thesis, 2007, 88 Pages
List of Figures
List of Tables
List of Abbreviations
1.1 Executive Summary
1.2 Scope of Work
2.1 Problem Definition
2.2 Methodology and Research
3. Objectives and Motivation
4. Theory Part
4.1 Market Entry Strategies
4.1.1 Market Entry Strategies by Thompson, Gamble, Strickland and Zahn
4.1.2 Market Entry Strategies by Porter
126.96.36.199 Porter’s Entry Modes
188.8.131.52 Porter’s Five Forces
4.2 Joint Venture
4.2.1 Initial Reasons for a Joint Venture
4.2.2 Being competitive in a market by a Joint Venture
4.2.3 Strategic aims of a Joint Venture
4.2.4 Benefits of a Joint Venture
4.2.5 Risks of a Joint Venture
4.3 Introduction into the Cultural Theory Models
4.3.1 Definition of Culture
4.3.2 The Five Dimensions Model of Hofstede
4.3.3 The Value Guide Lines of Trompenaars
4.3.4 The Cultural Dimension Model of Hall
4.3.5 The Value Orientation of Kluckhohn - Strodtbeck
4.4 Introduction to Chinese behaviour approaches
4.4.1 The Religions and Morals in PR China
184.108.40.206 Facts about Confucianism
220.127.116.11 Facts about Taoism
18.104.22.168 Facts about Buddhism
4.4.2 Communication and its Theoretical Context
22.214.171.124 Mianxi Relevance
126.96.36.199 Guanxi Relevance
4.5 Selected Theory Elements
4.5.1 Hofstede Theory Elements
4.5.2 Guanxi Theory Elements
4.5.3 Mianxi Theory Elements
5. The Case
5.1 Facts about PR China and its cultural development
5.2 PR China’s joining the WTO
5.3 PR China and the OECD
5.4 Definition of the Case
5.4.1 Introduction ThyssenKrupp
188.8.131.52 ThyssenKrupp worldwide
184.108.40.206 ThyssenKrupp in PR China
5.4.2 Introduction of Siemens
220.127.116.11 Siemens worldwide
18.104.22.168 Siemens in PR China
5.4.3 The Case of the Transrapid
22.214.171.124 Facts and the History of the Transrapid
126.96.36.199 Facts and the history of the Transrapid in PR China
5.5 Application of Hofstede’s Cultural Dimensions
5.5.1 German Dimensions Model
5.5.2 Chinese Dimensions Model
5.6 Application of the Selected Theory Elements
5.6.1 Introduction of the Interviewee
5.6.2 Application of Guanxi and Mianxi through research methods findings
5.6.3 Application of the Interviews onto Transrapid Case
5.6.4 Application of the Relationship Term through research methods findings
5.7 Case Solution
6. Conclusion, Critical Comments and Outlook
6.2 Critical Comments
Figure 1: PR China’s GDP between 1952 and 2003
Figure 2: The Five Forces of Porter
Figure 3: A sample graph of Hofstede’s dimensions
Figure 4: Kluckhohn and Strodtbeck’s Culture Value Orientations
Figure 5: The Chinese Guanxi network
Figure 6: The German Dimensions Model of Hofstede
Figure 7: The Chinese Dimensions Model of Hofstede
Table 1: High and Low Context Countries
Table 2: Characteristics and Meaning of Mianxi.
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Before starting writing this thesis, the author asked herself one question: Was Napoleon right, when he once said: “When China wakes up, the world will tremble”1. On the following pages, the author finds an answer to this question.
There is hardly another nation in the world which has changed its picture within the past two or three decades like PR China. The former communist regime of Mao Zedong has opened itself to the world since the end of the Cultural Revolution in the year 1976. This change is most apparent from the economic point of view and also from a social perspective. From 1976 on, foreign investors were allowed to enter the country to present their know-how and to provide the locals with liquid funds. As a consequence, a constantly increasing number of goods are being manufactured in PR China for the global market2.
The economic trend clearly shows the increase of PR China’s influence on the world market. In the year 2005, PR China achieved a gross domestic Product of CYN 18,232 billion (about EUR 18,060 billion) with a population of about 1.3 billion people. This is an income per capita of CYN 14,025 (about EUR 1,390). In the year 2000, the income per capita was only CYN 7,812 (about EUR 774). This shows an increase of about 55 per cent only within five years3.
Today, Germany has a population of about 82 million people4. In the year 2005, Germany’s GDP amounted to around EUR 2,244 billion, which is a per capita income of about EUR 27,365. Clearly, the level of the German income per capita is in absolute figures much higher. But the increase of Germany’s GDP compared to the year before only stands at 0.9 per cent5.
Germany’s companies started reacting to the fast growth in PR China at an early stage. In the year 1972, Germany obtained goods to an amount of EUR 175 million. In the year 2004, the value reached EUR 40 billion, which is an increase of 227 times. Since the year 2002, PR China has attained the position of the second leading non-European export partner for Germany6.
The graph below shows the growth of PR China’s GDP per capita between 1952 and 2003. The two vertical axes show the growth listed in Yuan and per-centage points; the horizontal shows the time and the respective events within that time.
illustration not visible in this excerpt
Figure 1: PR China’s GDP between 1952 and 20037
This thesis starts with a brief Introduction in Chapter 1. The Executive Summary already gave an impression of the content of this thesis and the Scope of Work briefly summarizes the following Chapters. The content of Chapter 2 is the definition of the problem on which the research is based and an overview of the methodology and research methods the author uses. Chapter 3 explains why the author chose “Diversification and Internationalisation - An Analysis of Market Entry into the People’s Republic of China under consideration of Cultural Value Dimensions” as the topic for her thesis. The theory part in the following Chapter 4 contains Market Entry Strategies, which lead to a closer look of joint ventures. Then follows the theory of important dimension models as well as the theory of Chinese behaviour and of religion and morals in PR China and communication and its theoretical context. The last part in Chapter 4 contains the selected theory elements, which describe the importance of those elements for the thesis. The Case of the Transrapid in Chapter 5 starts with facts about PR China as well as the relationship between PR China and the WTO and the OECD. Then a brief summary of the companies Siemens and ThyssenKrupp follows. This leads to the history and facts of the Transrapid in Germany and PR China. For a better understanding of the Chinese and German Culture, an application of Hofstede’s dimensions model and an application of the research methods are given. The primary research appears in Chapter 5.6, which consists of an application of Guanxi, Mianxi, the Transrapid and also the relationship term through research methods findings. The last part of Chapter 5 shows a Case solution set up by the author. The thesis ends with a conclusion, critical comments and outlook in Chapter 6.
Besides the question which the author already asked herself in the Executive Summary, there are also other important aspects to consider. Geert Hofstede said that "Culture is more often a source of conflict than of synergy. Cultural differences are a nuisance at best and often a disaster"8. This thesis will illustrate that there is some truth in his statement. In the year 1979 the course of PR China’s has changed with the so-called “open door policy”. From then on the country supported foreign trade and investments and the approaches between western countries and PR China in business life started9. But besides all the positive trends that were mentioned in the executive summary, huge communication problems between Chinese and German business people still regularly occur. The first barrier is clearly the spoken language. Fortunately most business people on both sides do speak English and the two parties are able to understand each other. The even more difficult barriers are the cultural differences between Western and Eastern countries. These bilateral differences have existed for several centuries and they still do exist in today’s world of globalization10.
It is hardly possible for foreigners to achieve their goal if they do not have any contacts to local (business) people. The Chinese network (called Guanxi) can be very strong. People who are within the circle of Guanxi help each other by e.g. finding a new job, by providing health care, by getting in touch with other people and so on. These people stick together and they are skeptical towards (foreign) people who do not belong to the group. Guanxi plays an important role especially in rural areas, where people are more dependent on each other than in huge cities11.
Foreigners also need to pay attention to Mianxi (meaning face). For Chinese people it is important to take “care of” or to “save face”. Having a lot of Mianxi means a high status within the society and this subsequently is being viewed like a kind of intangible asset in the Chinese Community. Business people who enjoy having a lot of Mianxi can use it as a credit or as a strong purchasing power, because their business partner will trust that person. In Western countries the meaning of face does not play such an important role, like in PR China12.
The third barrier is the opaque legal system in PR China. This problem was ascertained at the beginning of the 1970s when the first joint ventures between PR China and Western Countries were set up. The duration of the negotiations was very long which was mostly due to the Chinese legal system, but also due to the uncertainty of both parties. Western people said that the Chinese policy was directed towards time-winning and to wear down the opposite party13.
There are several definitions of what a research is. Scheuch describes a research as a planned procedure with a scientific purpose, in which test persons are asked specific questions in order to receive clear and precise answers14. A researcher can use several methods to discover or reinterpret information, to suggest practical applications or theoretical implications of information. Depending on the censorship there are two types of research, which are primary and secondary research. A primary (or original) research focuses on first-hand evidence and documents. This requires a good knowledge of the researcher. In contrast, the secondary (or bibliographic) research looks at what other authors have written about a theme and compares the different values and opinions of the authors. Furthermore, it is the task of the researcher to suggest new ideas and to draw conclusions15. The author of this thesis uses both types of research. She focuses on primary research by doing expert witness interviews. The secondary research is based on books, journals and internet research.
Furthermore, there are two methods of reasoning which are deductive and inductive. The inductive way is to start with specific observation and then move to broader generalizations and theories16. In contrast, the deductive method starts from the general view and then gets more specific17. This thesis follows the deductive way. It starts with the general theory part and then gets more specific in the case part, which starts in Chapter 5.
The objective of this thesis is to analyze the cultural differences and their impact on business relations between German/European and Chinese business people. This includes a consideration of the changes in PR China’s development and culture in the present and also in the past. Furthermore, the mistake which was made in the contract between the city of Shanghai and Transrapid International will be discussed in detail. This thesis points out problems that may arise in doing business in the global arena. In particular, companies who want to do business in that region should be aware of these problems.
The author’s motivation for choosing “Diversification and Internationalisation - An Analysis of Market Entry into the People’s Republic of China under consideration of Cultural Value Dimension” as the topic of her thesis is mainly due to the fact that she has an international background. Her parents are from Romania and Uruguay. As an export clerk, she is also familiar with having to deal with different cultures at work. Besides her working experience in Germany, she has working experiences in the United States. The author is currently working at the Mitsubishi International GmbH in Düsseldorf, which is a Japanese company. Her daily business includes negotiations with purchasers and customers from Asia. While working she experienced difficulties which are due to the cultural differences and that is why she intends to analyze this subject in her thesis. Another reason why she chose to write about the Transrapid in her Case is the fact that she served her apprenticeship with ThyssenKrupp. Furthermore, the subject about the Transrapid is very up-to-date and there are several news about this Case in the daily news.
The following Chapter describes several ways of entering a new market. Thompson, Gamble and Strickland, who are all professors at Universities in the United States wrote a book together that deals with Market Entry Strategies18. Their colleague, Zahn, also researched Strategies for Entering a Market19. Porter, who is a well-known professor at the Harvard University and also concentrates his work on the subject Market Entry Strategies20.
Many companies re-thought their marketing strategies due to the opening of opportunities in the global arena. Doing business internationally can be the reason for many challenges. There are several ways of entering a new market and companies who are making the wrong choice suffer from the consequences21.
Market entry considerations are always based on at least two aspects: transaction costs and organizational capability. Moreover, market entry strategy depends on the company goals. When entering a market, the company must be aware of the 4P’s (product, price, place and promotion). Once the company has decided to do on an international level business, it can choose from several traditional routes, which are described in this Chapter. The Market entry strategies are mainly:
- Direct Sales,
- Sales through Representatives,
- Sales through Distributors,
- Licensing and
- Joint Ventures or wholly-owned subsidiaries22.
Direct sales imply that the manufacturer sells directly to purchasers and eliminates the need for other parties involved. The profit margin is high in this case, because the company has the complete control over the distribution of the product. However, direct selling also means that the company runs a certain risk. On the other hand, sales through representatives involve agents or middlemen to sell the product. This third party has a wider scope which might mean even more profit at the very end23. Licensing is a method that is considered to have a low risk for the investor, but this also means a low return strategy at the same time. This allows the company to earn royalties paid for the right to use a certain product or corporate expertise. Finally, joint ventures offer the opportunity to establish physical presence in the host country. Although this involves more risks than the other strategies, joint ventures are as rewarding as domestic operations. This entry scheme is ideal if currency is weak and / or the per capita GDP is low24.
Porter focuses his work on market entry strategies. This is why the following chapter will concentrate on his entry modes. Furthermore, Porter developed the Five Forces Model that is explained in the subsequent Chapter25.
The market entry modes identified by Porter are: Export, Franchising, Strategic Alliance, Joint Venture, Acquisition of the existing corporation and Establishment of one’s own Subsidiary26.
Establishment of one’s own subsidiary was classified by Porter as an entry through internal development. This strategy entails the creation of “a new business entity in an industry, including new production capacity, distribution relationships, sales force, and so on”.
In general, joint ventures are the same as the establishment of a subsidiary, in the sense that a joint venture will face the same economic issues as the newly formed subsidiary. Perhaps the only difference is that joint venture companies raise complicated questions about the division of responsibilities among the partners. Both, the joint venture and the establishment of a subsidiary may be met with resistance by the industry they are joining through various means27.
The entry mode of franchising, on the other hand, presents a relatively strong structural entry barrier to companies who wish to take part in an industry, especially if the brand is well-known. Exporting is a strategy that entails entering a new market. On the one side, exporting will not be too difficult due to today’s globalization. On the other side, it requires the knowledge of operating a business in a foreign market that plays by different rules28.
Entry through acquisition as a market entry mode presents a different sort of challenge to companies. In the first place, it does not add a new player to the industry. Porter says that “the critical point is the recognition that the price of an acquisition is set in the market for companies”. Companies that are doing well will definitely be priced high, while other companies which require a massive infusion of capital will be priced low29.
The law of supply and demand has consequently an effect on the firm’s profitability. When there is an excess of supply, the entry of new competitors is minimal. However, when there is a high demand, there will be a corresponding high number of new entrants to an industry30. With the new capacity contributed by the new entrants, an upset in the balance of supply and demand may be experienced. This is felt more by the incumbent firms and may cause them to retaliate to the new entrants. In addition, the new entrants bring with them the threat of substitute products which all pose threat to the existing firms in the industry. However, the new entrants may be faced entry barriers if the suppliers serving the industry are under the control of the incumbent firms. This presents a huge problem, especially if the current suppliers are concentrated and are thus the only source of quality and cheap raw materials. The entry of new competitors in an industry always brings intense rivalry with it. Consequently, it is mostly during this time that price wars are observed. The result of price wars is detrimental not just to the companies concerned, but to the whole industry. The prices could remain deflated long after the price war has stopped. In such circumstances, the industry inevitably gives more buying power to the consumer31. The figure below shows the above explained relationship between new entrants, buyers, suppliers and substitutes in an industry.
illustration not visible in this excerpt
Figure 2: The Five Forces of Porter32
A company’s choice of method in entering a new market will depend on the company’s goals, strategies and available resources. A joint venture may possibly be at first sight one of the less risky methods in entering a foreign market33. Johnson et al define a joint venture as “a long-term alliance in which each member has an equity stake and exercises control and influence over decision-making”34. A joint venture company is commonly established as a separate legal entity created for a specific purpose, putting up a new corporate identity that is separate from its local and foreign principals35. In a joint venture company, there is some form of commitment made by principals, either the contribution of equity or in capital assets, monetary funding, technological expertise, market knowledge, and other factors that may assist the joint venture company in the pursuit of its business goals36.
In Chinese business history, joint venture companies were the main driving force that started the Chinese economy with the promulgation of the “open door policy” at the end of 1979. The Government adopted state-owned enterprises and joint venture enterprises as the main vehicles to attract economic activity and foreign currencies into the nation37. Foreign investors were able to avoid the high tariffs from then on. Another reason are the low labor costs in PR China, which are much lower than in the Western countries. Furthermore, the saving of freight costs and the creation of the increasing purchase power are significant criteria for manufacturing in PR China38.
The following part of the Chapter will first describe the initial reasons for a joint venture, and then a few external reasons will be discussed. This will lead to the strategic aims of a joint venture. Finally, strategic benefits and the resulting risks are summarized. Only the reasons which are most important to the author of this thesis will be a subject to discussion, because a wide analysis of a joint venture would go beyond the scope of this thesis.
Regarding the initial reasons for a joint venture, there are several advantages, which are listed below and then described:
- Economies of scale and advantages of size,
- Access to new technologies and customers,
- The spreading of risks and
- Influencing the Competitors39.
Economies of scale and advantages of size
A joint venture company is able to enjoy economies of scale due to the advantage of its size. Bigger companies with large-scale operations have a stronger buying power with the suppliers. Simply put, the bigger joint venture company will be able to order a large volume of parts or inputs from its suppliers at a lower cost due to bulk discounts, as compared to a company with a smaller size of operations40. Another aspectis that a joint venture company with large-scale operations will be able to invest in new technologies that will contribute to improvements in operations such as lower effective costs due to proved operating efficiency and higher output. Smaller size companies are not able to make these investments41.
Access to new technologies and customers
As a joint venture company with foreign principals, the allies can bring new concepts in technology into the new company, which would not have been accessible in single- entity companies. The new technologies may bring in vast potential for improvements in the joint venture company, further strengthening its financial and operationing efficiencies42. As a joint venture company is owned and operated by at least two sets of owners, these owners also contribute to the joint venture company the access to their respective markets. Access to new markets means new customers for the joint venture company43.
The spreading of risks
In a joint venture, there is mutual commitment by the (local and foreign) partners in aiming at a business goal. The initial investment required by each joint venture partner to set up the business operations will be considerably smaller when the partners are sharing the investment costs, thus spreading the risks. Under this mutual commitment, the joint venture partners agree to share the costs and business risks in operating the joint business. In this way, there is the spreading of costs and business risks that would have been shouldered by only one party if there was no joint venture agreement. A business would rather choose to start a business activity at lower costs, or even to share these costs with a partner. Lower costs will ease the financial burden of a partner and ensure continuous financial support for the joint venture. The spreading of costs and risks between the joint venture partners is one major reason for its establishment and may lead to a better chance of success44.
Influencing the Competitors
The fourth initial reason of setting up a joint venture is to influence the competitors in the market. A joint venture company may not only be able to strengthen its position in the market, but also to weaken the position of its competitors. Porter says that these arrangements mostly belong to secret arrangements45.
This Chapter will concentrate on the external reasons for a joint venture. These are as follows:
- To influence the structural evolution of the industry,
- To preempt competition,
- To create of stronger competitive units and
- To speed up the distribution in the market46.
To influence the structural evolution of the industry
In an industry characterized by a non-evolving traditional competitive environment, a joint venture company would be able to influence the structure evolution of the industry concerned. There are many different aspects in a joint venture company that sets it aside from the traditional competitive environment. Some of the different aspects brought in by the joint venture company are the methods of its production and the marketing of its products, its management style of company resources and other aspects of business practices47.
To preempt competition
The merger of local and foreign ideas in a joint venture company is a rich birthplace for pushing competition in the local business environment onto the next level. The joint venture company can preempt competition by influencing market conditions that will force local players to compete among themselves. One way of preempting competition among local players is for the joint venture company to induce a price war among the local players by artificially cutting back its selling price. This will induce local players to cut their prices to maintain their market share. As each local player increasingly cuts his prices, each local player will be forced to take on market losses up until such a point where he cannot sustain his operations and later on folds up. By preempting competition, the joint venture player is able to eliminate some local players to its advantage. On the other hand this strategy is also risky for the joint venture company, since it may also suffer a loss by cutting the prices48.
To create stronger competitive units
The larger scope and business size of the joint venture company (compared with smaller local businesses) is representative of the joint venture company’s stronger market power. This is seen as a threat by the local players, who later on may consider to undergo consolidation in order to prove and strengthen their market position. The merger or consolidation of the local market players then leads to the creation of strong competitive units that may lead to a competitive threat of the bigger joint venture company49.
To speed up distribution in the market
The joint venture company, with its vast resources and market power, is able to add speed to the market. First, its relatively large product volume is able to attract a much faster and efficient distribution network, as the large product volume will make it possible to make economies of scale by spreading the distribution company over a larger volume. Local companies with a smaller production volume may not be able to act so fast in the market as their smaller volumes will have to be consolidated to get a minimum shipping capacity to meet the break-even levels50. If there is no distribution network that can serve both, the joint venture company and the local players, the joint venture company has the bigger capacity to create a roadmap to the market due to its larger resources in comparison to the local players. The joint venture company can have access to a previously unavailable distribution network to transport its products. The local players may even need to pay the joint venture company to keep them take their products to the market51.
There are several synergies that create the basis for the competitive advantages of the joint venture company. The local partner brings in the local market knowledge, the manpower, the raw materials and the industrial premises. The foreign partner provides the technical and managerial know-how. Furthermore, they are jointly responsible for the financial and capital resources. These synergies are the strategic aims of a joint venture, as without one of these aspects, the joint venture may as well be a simple partnership between two foreign owners that operate a business not different from the local partners52.
In a joint venture, there is the transfer of technology and skills even after the initial set up of the operational synergies. It is important to have a continuous transfer of technology and skills in the joint venture as this will ensure the success of the joint venture company. This will create new systems and structures for the company and enhance its business competitiveness53.
The benefits of a joint venture can be derived from the strategic aims, the initial reasons and the reasons for being competitive in the market. Joint ventures are a common strategy to enlarge the corporate identity. Especially, when it comes to international joint ventures, the foreign party can overcome trade barriers and achieve significant economies of scale in the foreign country. Furthermore, the foreign party will be able to secure its access to necessary raw materials for reasonable prices and obtain managerial and technological skills54.
Joint ventures are not free of risks. Thus, careful consideration must be given to selecting the company one would be partnered by. This is actually the most important factor for a failure or success of a joint venture55. Factors such as company objectives, strategies, and resources must all be evaluated to ensure a good “fit” between the companies concerned. In doing so, companies will avoid to enter into problematic partnerships. The available resources of the companies concerned (which are mostly financial, human, and technological) must all be evaluated. Financial resources are not the only risk. In fact, the human resource might be more problematic especially for companies who are coming from different cultures. Strategies of one of the companies may clash with the strategies of the other company or the management style may be so different that confusion will ensue. Furthermore, agreements, such as administrative control, may be sources of trouble. Thus, the company seeking such a venture must maintain sufficient control in order to implement desired strategies. Ineffective managerial decisions have also formed part of the reasons why joint ventures failed in the past years. Deresky mentioned that it should clearly be kept in mind that roughly 60 per cent of international joint ventures fail for the above-mentioned reasons56.
Various anthropologists have set up theory models to express their view of the term called “culture”57. Hofstede, Trompenaars, Hall and Kluckhohn/Strodtbeck created the most well-known theory models. They all concentrate their models on different cultural aspects. Hofstede’s model aims primarily at values while Trompenaars model shows basic assumptions as well as values. Kluckhohn and Strodtbeck in contrast only target basic assumptions, while Hall concentrates his work on communication aspects58. The following Chapters describe the work of the above-mentioned authors. For a better understanding of the theory models, Chapter 5.5 deals with an application of Hofstede’s Cultural theory model, which includes an example of the German and the Chinese dimension models.
Culture according to Hall is “a way of life of a people, the sum of their learned behaviour patterns, attitudes and material things”59. Cultural diversity is the prevailing trend in today’s global milieu, but often the inability of people to understand the nuances of other people’s cultures create divisiveness and conflicts. Experts have already recognized the value of culture in today’s business environment. As businesses expand their operations outside their comfort zones, it is important that they consider the cultural context of their host nations60. Sometimes international strategic alliances fail, because of cross-cultural disappointments and misunderstandings61. If companies are to succeed in their global strategy, they must not ignore the reality of diversity within their organizations. Instead of finding diversity a hindrance to success, the companies must recognize the potentials of having various values and ideas62.
Geert Hofstede was born on 2 October 1928 in Harlem, in the Netherlands. In the Year 1967 he received his PhD in social psychology at the Groningen University. Then he started working at IBM - a multinational affiliated group - as the head of the personnel research department63.
During his time at IBM he had the chance to conduct a survey about the values of their employees in more than 50 different countries. The only thing these employees had in common was the fact that they were working for the same company, but they all had different nationalities and citizenships. Due to their citizenship, the employees had different values and ideas for solving problems. As a result Hofstede developed his four dimensions model of cultural variability, which helped him to describe the different cultures64.
Later, Hofstede had to face the fact that he - as a European citizens – unintentionally created an international survey, which was actually only made for citizens from Western countries. His Canadian colleague, Michael Bond, lived for many years in the Far East and then developed a questionnaire which was based on Chinese values. The result of the second study was another fifth dimension which is called Long-Term Orientation65. These five dimensions of Hofstede are listed below and will be explained afterwards:
- Power Distance Index (PDI),
- Individualism (IDV),
- Masculinity (MAS),
- Uncertainty Avoidance Index (UAI) and
- Long-Term Orientation (LTO)66.
1 Cf.: Seitz, K., (2006), China, p. 309.
2 Cf.: Vermeer, M., (2002), China.de, pp. 38.
3 Cf.: Deutsche Botschaft Peking, (2006), Daten zur chinesischen Wirtschaft, p. 1.
4 Cf.: http://www.destatis.de/presse/deutsch/pm2006/p2920021.htm.
5 Cf.: Statistisches Bundesamt Deutschland, (2006), Bruttoinlandsprodukt 2005 für Deutschland, pp. 5.
6 Cf.: http://www.auswaertiges-amt.de/diplo/de/Laenderinformationen/China/Bilateral.html.
7 Cf.: http://www.anc.org.za/ancdocs/pubs/umrabulo/umrabulo22/china.html.
9 Cf.: Ernst & Young, (2006), Doing Business in China, p. 6.
10 Cf.: Chen, M., (2004), Geschäfte machen mit Chinesen, p. 145.
11 Cf.: Vermeer, M., (2002), China.de, pp. 74.
12 Cf.: Holtbrügge, D., et al, (2005), Geschäftserfolg in China, pp. 20.
13 Cf.: Chung, T., et al, (1995), Joint Venture im chinesischen Kulturkreis, p. 119.
14 Cf.: Möhring, W., et al, (2003), Die Befragung in der Medien- und Kommunikationswissenschaft, p. 14.
15 Cf.: Seattle Central Community College Library, (2003), Research Methods & Strategies, p. 7.
16 Cf.: Schnell, R., et al, (2005), Methoden der empirischen Sozialforschung, p. 60.
17 Cf.: http://www.socialresearchmethods.net/kb/dedind.php.
18 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, pp. vii.
19 Cf.: Zahn, S., (1999), Choosing a Market Entry Strategy, p. 40.
20 Cf.: http://dor.hbs.edu/fi_redirect.jhtml?facInfo=bio&facEmId=mporter&loc=extn.
21 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, p. 159.
22 Cf.: Zahn, S., (1999), Choosing a Market Entry Strategy, p. 41.
23 Cf.: Zahn, S., (1999), Choosing a Market Entry Strategy, p. 42.
24 Cf.: Zahn, S., (1999), Choosing a Market Entry Strategy, pp. 44.
25 Cf.: http://dor.hbs.edu/fi_redirect.jhtml?facInfo=bio&facEmId=mporter&loc=extn.
26 Cf.: Porter, M., (1998), Competitive Strategy, pp. 340.
27 Cf.: Porter, M., (1998), Competitive Strategy, p. 340.
28 Cf.: Porter, M., (1998), Competitive Strategy, p. 357.
29 Cf.: Porter, M., (1998), Competitive Strategy, pp. 350.
30 Cf.: Porter, M., (2001), Competition and Antitrust, p. 937.
31 Cf.: Porter, M., (1998), Competitive Advantage, pp. 4.
32 Cf.: Porter, M., (1998), Competitive Advantage, p. 5.
33 Cf.: Porter, M., (1989), Globaler Wettbewerb, p. 364.
34 Johnson, D., et al, (2004), International Business, p. 120.
35 Cf.: Dülfer, E., (2001), Internationales Management, p. 187.
36 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, p. 34.
37 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, pp. 95.
38 Cf.: Reisach, U., et al, (1997), China, p. 133.
39 Cf.: Porter, M., (1989), Globaler Wettbewerb, pp. 375.
40 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, p. 179.
41 Cf.: Porter, M., (1989), Globaler Wettbewerb, p. 375.
42 Cf.: Porter, M., (1989), Globaler Wettbewerb, p. 375.
43 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, p. 179.
44 Cf.: Porter, M., (1989), Globaler Wettbewerb, pp. 375.
45 Cf.: Porter, M., (1989), Globaler Wettbewerb, p. 376.
46 Cf.: http://www.answers.com/topic/joint-venture.
47 Cf.: Liessmann, K., (1990), Joint Ventures erfolgreich organisieren und managen, pp. 75.
48 Cf.: Porter, M., (1998), Competitive Strategy, pp. 335.
49 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, pp. 175.
50 Cf.: Thompson, A., et al, (2006), Strategy - Winning in the Marketplace, pp. 183.
51 Cf.: Liessmann, K., (1990), Joint Ventures erfolgreich organisieren und managen, pp. 77.
52 Cf.: Liessmann, K., (1990), Joint Ventures erfolgreich organisieren und managen, p. 19.
53 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, p. 34.
54 Cf.: Deresky, H., (2003), International Management, p. 241.
55 Cf.: Deresky, H., (2003), International Management, p. 273.
56 Cf.: Deresky, H., (2003), International Management, p. 241.
57 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, p. 35.
58 Cf.: Kutschker, M., et al, (2006), Internationales Management, p. 694.
59 Hall, E., (1980), The Silent Language, p. 43.
60 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, pp. 33.
61 Cf.: Deresky, H., (2003), International Management, p. 241.
62 Cf.: Chung, T., et al, (1995), Joint Ventures im chinesischen Kulturkreis, pp. 43.
63 Cf.: Hofstede, G., (2006), Lokales Denken, globales Handeln, p. 525.
64 Cf.: Hofstede, G., (2006), Lokales Denken, globales Handeln, pp. 28.
65 Cf.: Hofstede, G., (2006), Lokales Denken, globales Handeln, pp. 38.
66 Cf.: http://www.geert-hofstede.com.
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