In 2002, while an MBA student at the China Europe International School in Shanghai, Laurie Underwood received what she says was an unfair grade (B+) from her “feisty” professor, Juan Fernandez.
“Part of the MBA experience is learning to stick up for yourself and be assertive,” Underwood said, adding that she went to see Fernandez about the grade, expecting a verbal sparring match with her “Spanish-tempered” mentor.
“[Fernandez] was all smiles and had my resume out, which I thought was odd. We ended up talking about my grade — which he changed to an A — for one minute, and about his book idea for 45 minutes,” Underwood said.
PHOTO COURTESY OF JOHN WILEY & SONS
Fernandez's book concept was to compile wisdom and advice from some of the top foreign businesspeople in China about how to run a successful business there. But he needed a partner with the China-specific business savvy and writing ability to make that idea a reality.
That's where Underwood came in.
“I think [Fernandez] liked that I was a business journalist, and he wanted to write a carefully researched but easy-to-read book,” Underwood told the Taipei Times.
But Underwood was more than just a business journalist; she was an old Taiwan hand with 12 years' experience covering business beats in Taipei. After her MBA, she went on to become a top official in the American Chamber of Commerce in Shanghai. Her professional experiences as an American in Chinese-speaking environments made her the perfect candidate for Fernandez's project.
Four years later, their collaboration culminated in China CEO: Voices of Experience from 20 International Business Leaders, a well-researched page-turner about the Dos and Don'ts of running a business in the Middle Kingdom.
Underwood acknowledged that the book is part of an emerging “how-to” genre for foreigners seeking to make a buck in China. However, she insisted that China CEO is unique among the many new books about how to tap China's market, in that it is more academic and covers a wider spectrum of industries.
“We tried to go to a wide range of people — all CEOs of major multinational companies spanning many different sectors,” Underwood said.
“We wanted to do an academic study incorporating many views and opinions about what it takes to do business in China, rather than writing from one person's perspective,” she added.
The result is an entertaining but informative synthesis of interviews with foreign captains of industry in China. What does it take to recruit, manage, and retain talented Chinese employees? Let the CEOs of General Electric China, Coca Cola China, or Sony China tell you in their own words. Underwood and Fernandez, in true journalistic fashion, are more conduits of others' wisdom than purveyors of advice themselves about how to make it in China.
At first glance, China CEO may seem geared toward a Western audience, but Underwood insists that the book is relevant to Taiwanese businesspeople, too. That's why she was back in Taipei to promote China CEO last week.
“David Chang [CEO of Philips China], a Taiwanese CEO who we interviewed, gives a lot of advice in the book that's good for anybody who is familiar with the Taiwanese business environment but wants to break into China,” Underwood said, adding that a version with traditional Chinese characters will hit Taiwanese bookstores this month.
As for relocating to China from Taiwan, Underwood herself is familiar with the all-too-common shift among businesspeople: In her last two years of reporting in Taiwan (2000-2001), all her beats were in some way connected to China, she said. Her move from Taipei to Shanghai was thus part of a “natural progression” in her career.
Apparently, she's not alone.
Underwood said that she was reunited with “so many people”who she had first met in Taipei. She also described China's economic rise as a “huge opportunity” for Taiwan since “no other place is as connected to China.”
For example, the most formidable problem for multinationals in China — as discussed in China CEO — represents a tremendous opportunity for Taiwanese, Underwood said. The biggest problem in China isn't intellectual property rights violations or an immature legal system, according to the book; surprisingly, it's a lack of white-collar workers. That is, foreign companies are experiencing difficulties in running their businesses in China for lack of Chinese managerial talent.
“Taiwanese managers are quite highly valued in China — and rightly so. They can act as bridges between East and West, and their salaries in China are rising to the level of Western managers,” said Underwood. She added that the lack of middle to upper-level managers in China was a great opportunity for more Taiwanese to “come over and fill those roles.”
“I think this book can be useful for anybody who's heading over [to China], and I think an awful lot of people in Taiwan are. So, we hope that [the book] can give them a head-start and help them to avoid some common problems,” Underwood said.
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