The World Economic Forum, in collaboration with the Boston Consulting Group, has just published the report, “Emerging Best Practices of Chinese Globalizers: The Corporate Global Citizenship Challenge.”
The study identifies emerging best practices of Chinese enterprises that are developing increasingly sophisticated forms of citizenship in the local markets in which they operate.
Nearly 100 ofChina’s largest international companies were analyzed, and three major challenges identified:
1. Some Chinese companies lack a broad and thorough understanding of the concept of corporate citizenship.
2. A reluctance to communicate, such as disclosing balanced citizenship information to the general public, discussing a company’s plan and thoughts with external stockholders, and trusting the local partners.
3. There tends to be a less favorable environment for innovation among Chinese companies.
In order for Chinese Globalizers to become global corporate citizens, they must address all three challenges by building:
-A culture of corporate citizenship
-A culture of information sharing and open discussion
-A culture of innovation.
The full report is available online.