Executive education makes mark
By Erin ZureickUpdated: 2007-07-13 08:44
Rutgers has been offering graduate business courses in China since 1994 - the longest of any American university.
"You're seeing more and more universities get involved here," said Sopranzetti, whose recent research interests include investment banking and emerging financial markets in China.
As the country continues to make the transition from State-owned enterprises to private companies, MBA programs are part of an effort to make sure that investors and business people from across the globe are speaking the same language.
Western universities have long offered courses in business and economics. Harvard Business School is set to celebrate its centenary in 2008. In comparison, the University of International Business and Economics did not open its business school until 1982.
Sopranzetti continued to say that one of the greatest needs in China is to teach Chinese students basic business acumen such as financial analysis and how to think creatively.
"There really is a need for training on how to do business deals," he said. "They need to learn from people who have done deals before."
The Rutgers executive MBA program has an average class size of fewer than 40 people. With its 14-month US$37,000 price tag, it tends to attract people in their mid-30s who have some experience in business. Of the students who attend the program, 70 percent have worked in multinational corporations, and 40 percent are Chinese nationals.
Lin, who has worked at Siemens for 12 years, said she has used strategies from the Rutgers program to more accurately price products when negotiating.
"The idea is to make them better functioning executives," Sopranzetti said. "They're competing on a global scale."
Lost in translation
But the Chinese aren't the only ones making business adjustments in this equation. Foreign companies hoping to make their mark in the country's growing consumer hotbed have run into their own share of challenges.
"There's less trust [in China]," said Mina Vayanou, vice president of operations at Pearls Only, a company that buys pearls from China and Japan and sells them over the Internet.
"You assume more in the West when negotiating," said Varanou, a Canadian, who attended Wednesday's seminar. "There are unwritten rules that you go by."
One of the most difficult concepts for foreign corporations to grasp in China
is that of guanxi, which refers to the interpersonal relationships among
companies and business people. Many Asian companies are ahead of Western ones in
China because their cultural norms are closer and their ties run deeper. Many
Western companies make deals mainly based on market situations. Personal and
business relationships are more likely to be entwined in China.
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