What is China's winning magic? class="my-2">
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    What is the secret of China's success as a world economic power? What is the winning formula for breaking into the business sector? How are Chinese companies rapidly growing from startups to tech giants? Knowing these features is not only interesting, but also necessary!

    China Europe International Business School (CEIBS) in Shanghai is known as the best business school in Asia. In it, my former colleague Acharya Liang Neng published the book 'The Fortune Makers' along with Harbir Singh, Peter Capeli and Michael Youseem from Wharton Business School in America. The book presents a different analysis that challenges common perceptions of Asian businesses. He clarified that it is not correct to think that the support provided by the communist government is the reason for the success of Chinese industrial entrepreneurs. It is concluded that even if there is no such egg, they are excelling. Institutional support may not always be available for business establishment and development. Even if the competition in the market puts a lot of pressure, you have to stand on your own and make the business successful. In order to overcome the challenges facing them, they have to learn lessons from the experience and move forward. In terms of business, there is a need to develop relationships with various parties and progress.

    Continuous pursuit

    If all is well there are no problems, there is a need to find new ways to overcome them. There won't be. Shortages and constraints rather than abundance of resources create the drive to upgrade. The Chinese do not rely entirely on Western business models but adapt them to suit local conditions. It is in this order that new things are explored and invented. Instead of waiting for complete information about the market, they immediately enter the field and correct mistakes and move forward with new ideas and new methods. It proves that innovation arises from scarcity and not from abundance. BYD and other organizations are moving forward in this direction and are emerging as global giants. In order to survive in a highly competitive and ever-changing market, one needs to learn the right lessons before failure and leap towards success. This skill cannot be acquired through training alone. Only progress can be made by observing the best management practices of others and being passionate about continuous learning. Companies like Alibaba have grown in the world by turning the experience and lessons learned into internal knowledge within the company and sharing it with the staff. In ever-changing and volatile markets, success comes from the ability to react and adapt quickly rather than predicting the future. The keys to business success are quick decision-making by entrepreneurs and quick deployment of resources to where they are needed. Xiaomi releases its new models within months. Successful models do not continue to do the same. The principle that business strategy is a living continuous flow is the source of Xiaomi's success.

    Chinese companies sing and praise continuous development. They act as if there is no survival without continuous progress. They think that the higher they rise in business, the more protection they get from competition and the ability to withstand changes in government policies. That's why they work round the clock to expand their customer base and expand into new markets. Internationalization grows as a protection. In the outside world, competition, changes in government policies and unpredictable situations are common. Any company can overcome such volatility only with a strong internal culture. Deep discipline should be an integral part of company culture. Even if there are flaws in the management practices, they can be overcome with discipline and move forward. It should be understood that business is not a transactional culture that ends with selling and buying, but is much more than that. The top Chinese companies are developing day by day with this understanding.

    FAST OPERATION

    Like politics in China, businesses are run under the leadership of a top leader (big boss), i.e. the entrepreneur. A leader is not just a person holding a position for decoration. The entrepreneur is responsible for every bold decision. It is also an active architect who actively implements that decision. To the West this may seem like an authoritarian way of working. But, the BigBoss system works at an amazing speed. Acts as an effective guide for resource mobilization. The leader does not have to do everything, but even the best leaders know when and how to deploy professional expertise to expand the business.

    Finally, smart compliance in China does not guarantee business success. In addition, the network of relationships and partnerships with banks, local authorities and suppliers is crucial. With the help of this, you can get out of any difficult situation. The success principles described in 'The Fortune Makers' are not unique to China. They serve as a guide for any leader who faces uncertainty and volatility in business management anywhere in the world. Success does not come from having abundant resources or perfect organizations alone. The closest way to success is to adopt a mindset that responds to changes faster than those around us!

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