CEIBS shifts focus to executive education

The lack of international talent is one of the biggest challenges for Chinese companies expanding into overseas markets, according to a survey on China businesses conducted by the China Europe International Business School or CEIBS.

"A lot of their mistakes can be traced back to a lack of talent, a lack of employees who understand how to do business in the new markets they are trying to break into," said Professor Li Mingjun, president of CEIBS. "The world has changed and Chinese business executives have to change along with it."

He noted that in the 1980s, Chinese companies doing foreign trade only needed to focus on low-cost production as professional foreign trade agencies took care of everything else. In contrast, companies making overseas investments today need to handle everything by themselves, from setting up joint ventures to making acquisitions or green-field investments. As a result, talented professionals who are familiar with such matters are urgently needed.