By Wang, Professor ShouQing
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Additional resources for Management Decision - Volume 43 Issue 4 (2005) - Special Issue: Chinese management: reflections, trends and opportunities
72-80. E. (2001), Making Sense of the Organization, Blackwell Publishing, Oxford. S. (2001), Translations on Four Books and Five Classics (Si-Shu-Wu-Jing) (in Chinese), Xiangzhuan Press, Beijing. Zellner, C. and Fornahl, D. (2002), “Scientific knowledge and implications for its diffusion”, Journal of Knowledge Management, Vol. 6 No. 2, pp. 190-8. (Guoquan Chen is a professor of organizational behavior in School of Economics & Management, Tsinghua University, Beijing, China. He was a Fulbright visiting research scholar in MIT Sloan School of Management from 2003 to 2004 and visiting scholar in The Judge Institute of Management Studies, Cambridge University in 1997.
Globalization has many advantages, among them, creating wealth for all nations through specialization, which increases trade; reducing inflation because of cost efficiencies; beneficial to customers because of price reduction owing to cost efficiencies; better allocation of resources; and reducing corruption because of free market trade (Ricardo, 1967). With China being a member of the World Trade Organization (WTO), and hosting several international events such as the Olympic Games, there are many opportunities for foreign architectural, engineering and construction (AEC) firms to undertake construction projects in China.
This may be because foreign firms sometimes have difficulty clinching projects in China, but this situation is expected to improve when China complies more fully with WTO requirements. Increase corporate profit. Table III shows that foreign AEC firms entered China with the hope of increasing corporate profits (M4). Greater profits can be obtained Benefits that foreign AEC firms derive 509 MD 43,4 510 by increasing revenue or reducing costs. Firms can obtain greater revenue by simultaneously undertaking construction work in foreign markets and their domestic markets.