Despite capitalism dominating business environment across the globe, China has managed to hold firm on the Marxist-communist foundation and has struck a balance between the science of politics and communist business system (Deer and Song, 2012). The manufacturing industry in China has unlimited potential for expansion.
Within business organization and practice, labour is vital especially in balancing over head cost of doing business. Reflectively, existence of abundant, cheap, and sustainable labour supply gives the Bearing & Boodles business an upper hand in the competitive Chinese market and ensures its sustainability in the long run. China has a skilled pool of cheap labour. This aspect is attractive for the company in doing business within its territories (Deer and Song, 2012). The population of China is ethically aligned and appreciates the essence of commitment and hard work towards achieving optimal output.
Professionalism and competitive work ethics have been internalised in the Chinese labour market. There are millions of graduates who are available to offer skills to any business activity. In order to gain from this comparative advantage, doing business in China saves resources that could have been directed towards training workforce since skilled labour is available and relatively affordable, as compared to other nations where living standards are higher and minimum wage bigger (Deer and Song, 2012).
In addition, the culture of the Chinese people promotes self discipline and appreciates excellence in service delivery as a means of making the economy better. In the process of achieving this, the self motivating culture will facilitate competence and combine skills with loyalty to give positive results for the Bearing & Boodles Company.
Customer base
Since the Bearing & Boodles Company operates in the manufacturing industry in China, it has the potential of offering services to all the major companies using ball bearing as a raw material in their production activities. The Bearing & Boodles Company has unlimited opportunity for expansion since companies manufacturing automotives, robots, and other appliances in China are very many (Deer and Song, 2012). These companies have high annual turnover and will maintain the demand for ball bearings produced by the Bearing & Boodles Company.
Besides, the company has the potential to attract the highly skilled personnel within China. Basically, the skilled manpower will ensure that the company’s production, creativity, and distribution activities are sustainable in the long run. China has the highest skilled manpower in the entire world (Farrell and Grant, 2005).
Recruitment procedure
In order to benefit from the above opportunities, the Bearing & Boodles’ graduate recruitment manager should concentrate on graduates with relevant skills through a selective recruitment process (Farrell and Grant, 2005). This should be followed by verification of the qualifications of each candidate against the Chinese government’s standards. It is important to create an environment of practical skills assessment to ensure that those who pass the recruitment procedure can become global business leaders (Farrell and Grant, 2005). The recruitment program should accommodate the Chinese work ethics and culture for it to be inclusive and accommodative to special talents.
Reference List
Deer, L., & Song, L 2012, “China’s Approach to Rebalancing: A Conceptual and Policy Framework.” China & World Economy, vol. 20 no.1, pp.1-26. Web.
Farrell, D & Grant, A 2005 “China’s looming talent shortage”, McKinsey Quarterly, vol. 1, no. 2, pp. 31-54, 2014, via McKinsey database. Web.