• International Journal of Advanced Culture Technology
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• v.10 no.1
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• pp.131-137
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• 2022

The importance of corporate culture for its development has always been a classic research. Through excellent corporate culture, we can analyze the secrets of company success and provide important reference significance for other company brands. Since the outbreak of COVID-19, Traditional Chinese Medicine (TCM) has greatly increased its international recognition with its excellent efficacy, which has brought development opportunities to the TCM industry. The object of this research is the Beijing Tongrentang Group Co., Ltd. Tongrentang is a representative of Chinese time-honored brands in TCM industry. It has a development history of more than 350 years. It carries the traditional Chinese culture and Chinese medicine culture. The corporate culture of Tongrentang was thus extended and developed into 'Benevolence & love', 'Honesty & trustworthiness' and 'Quality first'. We can see that a good corporate culture is particularly important. This paper studies the unique Corporate culture of Tongrentang, and the reasons of company success. Hoping to help the company through this paper, so as to improve the company in the future. And put forward a certain practical significance and value.

• International Area Studies Review
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• v.13 no.1
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• pp.189-217
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• 2009

This study is to learn if and how company-consumer identification in regard of Chinese consumers influences the consumers' behavioral responses with their evaluation on Korean products. To be learned also is differential influences on company-consumer identification generated by two different factors of corporate image, which are corporate ability and corporate social responsibility, through Structural Equation Modeling. The results obtained by actual analysis are as follows. First, both corporate ability and corporate social responsibility turn out to be positively influential on company-consumer identification. Second, the company-consumer identification as to the Korean companies displayed by Chinese consumers induces positive influences on Korean products, which in turn induces positive influences on Chinese consumers' behavioral responses. These results suggest that in the future the Korean companies already settled in China not only need to enhance corporate ability but also have to give efforts on corporate social responsibility in order to improve their continuous and long-term relationship with Chinese consumers.

• East Asian Journal of Business Economics (EAJBE)
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• v.3 no.2
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• pp.26-30
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• 2015

Purpose-This paper aims to do research on success and failure of Chinese enterprises and suggest the implications to the Chinese enterprises by comparing the representative examples of Chinese enterprises' overseas M&A. Research Design, Data, and Methodology-This paper selected by six cases of Chinese enterprises' overseas M&A to do the contrast. Results-Consulting company still plays a very important role in Chinese enterprises' overseas M&A because Chinese enterprises' overseas M&A is being placed in growth stage. And how to grasp the development trend of industry accurate and choose the correct target enterprises is a very important issue for Chinese enterprises which can make Chinese enterprises to avoid blind investment. Conclusion-Chinese Enterprises have to evaluate the target enterprise with the aid of authoritative investment and consulting company, focus on training qualified talents and the integration after the M&A when they Overseas M&A in the future.

• Asia-Pacific Journal of Business
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• v.12 no.1
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• pp.101-120
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• 2021

Purpose - As the research of Chinese unicorn companies is still in early stages, this paper aims to investigate the factors that influence the success of Chinese IT unicorns. Design/methodology/approach - This study is conducted as a single case study and used various sources such as interviews, internal data, press releases, IR data, etc. to enhance the reliability and validity. Findings - First, the characteristics of the start-up team, social capital, and strategies as internal factors affect the success of unicorns. Among them, the more Guanxi in social capital factors, the greater the possibility of growing into an IT unicorn company. Second, the role of venture capital and geographical location have been identified that two factors affect the success of unicorns. In the role of venture capital, it has been confirmed that the world's top-level venture capital company or a company that has been invested by "BATJ" is more likely to grow into a unicorn company in China. Research implications or Originality - This paper distinguishes between internal and external factors to explain the factors that affect the growth of unicorn companies, which lays the foundation for future research, such as the exploration of the unicorns and the development of new variables.

• Asia Marketing Journal
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• v.15 no.2
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• pp.29-47
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• 2013

Distribution channel decisions involve long-term commitments with other firms that are very difficult to change or replace. In particular, marketing channel decisions in emerging markets are much more complicated due to unfamiliar conditions and problems such as lack of market data and distribution systems. Therefore, when a company considers changing or introducing a marketing channel in an area, it is much more difficult to judge its effectiveness in an emerging market than in a developed market. In this study, we investigate the development process of a new direct marketing channel of Hongfu Fertilizer Company (hereafter Hongfu), a medium-sized Chinese fertilizer manufacturer, and propose an approach to test the feasibility of this new marketing channel in the Chinese rural market. We measure the effectiveness of Hongfu's new marketing channel from two perspectives: i) from customers' perspective through direct responses of farmers, which showed that a new channel can increase the convenience and lower the purchasing costs for the farmers, and ii) from the company's perspective, by calculating the incremental profit of the company using the expansion factor (T/Q) method, which suggested that the execution of Hongfu's strategy to expand a new marketing channel will result in an increase in profits. The results of this study contribute to the development of a methodology to test the feasibility of a new direct marketing channel in the emerging markets such as the Chinese rural market. Traditional and indirect distribution channels in emerging markets are generally not very efficient and difficult to change. Especially, in emerging markets, like the Chinese rural market, the methods of testing channel feasibility must be different from that of developed markets. Considering market situations, market experiments can be more effective then systematic market surveys in testing channel feasibility in emerging markets. This study implies that managers must learn to cope with a transition from the traditional marketing channels in emerging markets. With the development in farmers' understanding of marketing concept, the transition from traditional marketing channel is unavoidable for all firms. Farmers in China are generally very conservative, however, their buying behaviors are changing. Therefore, fertilizer companies should try to adjust in accordance with farmers' demand characteristics that the efforts to meet the economic needs of farmers with new marketing channels as well as trust building are critical in the near future.

• The Journal of Industrial Distribution & Business
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• v.15 no.5
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• pp.1-15
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• 2024

Purpose: The purpose of this study is to explore the development and characteristics of e-commerce in China and analyze the current status of e-commerce platforms in China. Research design, data and methodology: To explore the development of e- commerce in China, this study collects and analyzes Chinese journals and secondary sources. It also conducts a case analysis of the success strategies of leading Chinese e-commerce companies. Results: The analysis showed that China's e-commerce is active in various forms of e-commerce, including B2B, B2C, and C2C, and that the development of e-commerce in China has been divided into three main stages. The Chinese government has been actively implementing various policies to promote the development of e-commerce. Conclusions: In this context, this paper specifically examines the development process of e- commerce in China, the current status of the Chinese e-commerce market, and the characteristics of the Chinese e-commerce market. In addition, the paper analyzes representative B2B, B2C, and C2C companies in China's e-commerce market. The results of the analysis show that Huichongwang, a B2B company, Jingdong, a B2C company, and Taobao, a C2C company, have achieved rapid growth through their core strategies and capabilities. The study also analyzed in detail the problems faced by the Chinese government and companies.

• International Commerce and Information Review
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• v.14 no.3
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• pp.253-280
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• 2012

Since China reformed and opened up itself, processing trade system has enormously contributed to chinese economic development and also become driving force of chinese economic growth. However, due to imbalance of industrial distribution, overproduction of labor-intensive product has expanded, and as a result, mass export of low-value-added products has aggravated trade friction. Also, these low-value-added products has caused environmental pollution and brought resource waste. On this, Chinese government start to modify system according to strategy for enhancement of processing trade. In this study, as a countermeasure of the Change of Chinese processing trade system, applicability of the bonded area is suggested. Firstly, even if a company's item is applied to prohibited or restricted items, the company can trade if through the bonded area. Secondly, even if a company has duty of deposit reservation, the company can be exempt from duty of deposit reservation if through the bonded area. Thirdly, as to importing facilities for processing trade, a company can receive more benefit through the bonded area than through outside of the bonded area.

• Asia-Pacific Journal of Business
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• v.12 no.2
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• pp.61-79
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• 2021

Purpose - The purpose of this study was to analyze the impact of a company's competitive strategy on corporate performance in the highly competitive Chinese automotive industry. Design/methodology/approach - This study collected 14 survey data from automotive companies in China which be listed more than one year. We chosen the exploratory study with deriving research assignments, and the final research results are presented as propositions to proceed with the study. Findings - First, in the Chinese automobile industry, a company's competition strategy has a positive impact on corporate performance. and also the Differentiation strategy and the Low-cost strategy both have a positive impact on corporate performance. In addition, a company pursuing the Differentiation strategy that it would achieve better corporate performance than a company pursuing the Low-cost strategy. Second, it has been shown that the hybrid strategy rather than the pure strategy in the Chinese automobile industry can achieve higher corporate performance. Research implications or Originality - First, the type of competitive strategy in Chinese automotive industry were identified through the original strategies presented by Porter and Murray, and the impact of the Low-cost and the Differentiation strategies on corporate performance was analyzed. Second, contributing to the study of pure and hybrid strategies that are still under discussion now. Third, it also suggested practical implications that companies in China's automotive industry should pursue cost or differentiation advantages to secure competitive advantage.

• Journal of Information Processing Systems
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• v.18 no.4
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• pp.480-488
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• 2022

Images of tobacco retail licenses have complex unstructured characteristics, which is an urgent technical problem in the robot process automation of tobacco marketing. In this paper, a novel recognition approach using a double attention mechanism is presented to realize the automatic recognition and information extraction from such images. First, we utilized a DenseNet network to extract the license information from the input tobacco retail license data. Second, bi-directional long short-term memory was used for coding and decoding using a continuous decoder integrating dual attention to realize the recognition and information extraction of tobacco retail license images without segmentation. Finally, several performance experiments were conducted using a largescale dataset of tobacco retail licenses. The experimental results show that the proposed approach achieves a correction accuracy of 98.36% on the ZY-LQ dataset, outperforming most existing methods.

• Journal of Information Processing Systems
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• v.18 no.3
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• pp.311-318
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• 2022

Tobacco sales enterprises often need to summarize and verify the daily sales bills, which may consume substantial manpower, and manual verification is prone to occasional errors. The use of artificial intelligence technology to realize the automatic identification and verification of such bills offers important practical significance. This study presents a novel multi-branch residual network for tobacco sales bills to improve the efficiency and accuracy of tobacco sales. First, geometric correction and edge alignment were performed on the input sales bill image. Second, the multi-branch residual network recognition model is established and trained using the preprocessed data. The comparative experimental results demonstrated that the correct recognition rate of the proposed method reached 98.84% on the China Tobacco Bill Image dataset, which is superior to that of most existing recognition methods.