[photopress:MBA_Graduates.JPG,full,alignright]According to a report from Hay Group, Waking Up to China, businesses leaders are turning to MBA students from China because they believe too few local graduates have Chinese language skills. 41% of business leaders surveyed said they planned to recruit Chinese MBA graduates and 16% of executives would like to see business schools including a China module in all MBA courses.
The study, which was based on interviews with business leaders across the US, Asia Pacific and Europe can be summarized as follows:
1. Business leaders across the world view the expansion of the Chinese market as a definite net positive. Specifically, they cite average 14% of global revenues to China by 2009.
2. Around 50% of respondents see China as the greatest opportunity facing their business.
3. American business leaders expect the proportion of their global sales accounted for by China to increase by 200% over the next three years,
4. The winners in the race to take advantage of the opportunity presented by China are the UK, Japan, South Korea and Australia. The losers are given as Italy and France.
5. Asia Pacific business leaders see the greatest opportunities, with executives forecasting that 16% of their business revenues will come from China by 2009.
6. Only 47% of global companies have actually established operations in China. Another 22% said they are planning to set up in China within the next five years.
7. The biggest barrier to expansion in China is seen to be cultural and language differences.
The report is good news for China business overall but it is all bad news for employers in China. Now the competition for Chinese staff is global especially for those with an MBA.