Accenture: Globalization of Chinese enterprises has become an indisputable fact

The survey shows that 89% of enterprises are now engaged in global business.　　However, the lack of necessary experience and ability, especially the ability to manage staff, is the main difficulty for Chinese enterprises to face globalization. The "globalisation" of Chinese companies has become a reality as Chinese companies increase their dependence on overseas markets, according to Accenture, a consultancy of Jiang Jiangning, a consulting firm, in a report released November 11.　　But enterprises are still facing difficulties in the process of globalization. Wangbo, managing director of Essen Greater China, argues that "globalisation" should not be limited to companies that conduct overseas mergers or acquisitions or engage in overseas operations.　　Accenture's definition of "globalization" refers to "the process by which the operation of an enterprise is gradually dependent on the overseas market and has the ability to continuously enhance the global industrial layout, resource allocation and operational management capabilities".　　Wangbo said there are two major criteria for measuring "globalisation": the degree of dependence of the company's business on overseas markets and the ability to operate globally, which can be measured in terms of the proportion of overseas business and the ability to operate.　　According to a survey conducted by Accenture, a consultancy, and the Chinese Business Federation on 89 Chinese companies from May to August, 89% of the companies now have global business and 5% are planning to launch global business, accounting for the vast majority of the respondents. In the report, "the road to globalisation of Chinese enterprises," Accenture said the main difficulties of Chinese enterprises globalization, including the Chinese enterprises as a successor, the lack of necessary experience and capacity, cultural and social system differences, so that the operation of enterprises and overseas enterprises still have a large gap;　　Lack of ability to manage employees, lack of global talent, lack of innovation and core technology.　　For the current rise of the domestic resource industry mergers and acquisitions of the phenomenon, Wangbo told Caixin reporter, the fact that domestic resource-oriented enterprises do not complete the commercialization of the transformation, in the "go out" process often leads to misunderstandings, to mergers and acquisitions caused by additional obstacles. To solve the problem, he said, "first, Chinese companies should learn to adjust their strategies." CNOOC, for example, has been through a failed takeover of Unocal, but now they are ready to make a full deal and spend a lot of effort on media and government PR. Second, Chinese companies will try to buy a partial equity investment in a non-full acquisition, resulting in a relatively small amount of resistance. Moreover, Chinese enterprises should also learn to alliance with industry multinationals to improve the environment and image of asset mergers and acquisitions. "In analyzing the case of China Railway investing in Saudi Arabia's huge losses, he told Caixin reporters that China Railway is the first in the incident in the lack of international contract management capacity, the details of the contract and loopholes can not be properly prepared, and also in this project is inevitably affected by a certain degree of political pressure.