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BIZCHINA> Top Biz News
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Report identifies building blocks of bussiness success in China
By Zhang Qi (chinadaily.com.cn)
Updated: 2009-01-08 16:47 Performance anatomy: the ways in which a company adopts the mindsets needed for successful execution. High performers have the cultural characteristics and mindsets to propel themselves further up the value chain. They are becoming "talent-powered" and leveraging IT as a strategic tool for growth as well as introducing strategies for long-term sustainability. They are "talent powered". They work hard to retain their best employees while acquiring new talent by offering much more than competitive compensation alone. More Chinese high performers see the long-term benefits in investments that reduce their impact on the environment. Conducted through 13 industries and 200 listed Chinese companies, Accenture identified 36 enterprises that fit its definition of high performance. Regardless of their current positions as high, average or even low performers, all companies must face the fact that the low-cost talent, resources and capital of the past cannot be a basis for competitiveness in the future, the report suggests. For the high performers, this is certainly no time to relax. To remain competitive, they must keep tight control over costs as a matter of course while they look more broadly at what factors will lead to long-term success in less favorable economic conditions, it says. "For the Chinese companies that rate as average performers, they must build and deploy the capabilities that allow them to change before circumstances force them to do so," the report states. "For the low performers, the message is stark: They must take this opportunity to learn some of the strategic and operational skills of the high per-formers and quickly translate those lessons into action. They must adapt their strategies while concurrently coping with the worst effects of the turmoil." (For more biz stories, please visit Industries)
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