How do China enterprises adapt to the new market environment under globalization?

1, don't forget your initiative. More and more enterprises and employees hope to get more from their work. Finding the meaning of work and becoming a part of this inclusive society is becoming more and more important, especially for millennials. Therefore, only by finding and persisting in the initial intention and clearly passing it on to the society can we help enterprises attract and retain top talents.

2. Create a comprehensive social influence. In the past, enterprises paid more attention to the maximization of shareholders' returns and thought that the government should deal with a wider range of social challenges. However, without the participation of the private sector, it is impossible to solve the current crisis and challenges of globalization, establish a fairer globalization model and narrow the income gap.

3. Invest in human capital. Many enterprises and regions have not benefited from internationalization, largely because the working population has not obtained the corresponding skills and education. Especially with the rapid penetration of artificial intelligence and robots in the future, many people need to be trained and acquire new skills to remain competitive. Enterprises also need to invest in the human capital of their employees in order to win in the future competition.

4. Embrace diversity and inclusiveness. In the era of deepening internationalization, how to embrace diversification and benefit from it is a strategy that enterprises need to consider.

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Matters needing attention

In the past, the globalization model was built around low cost, and some regions gained competitive advantage through low manufacturing cost, which led to the relocation of global manufacturing industry. This is a well-known globalization model. However, with the development of digital technology, the pattern of global trade and value chain is also changing.

With the improvement of manufacturing automation, the gap of labor cost is narrowing, and manufacturing can be carried out in a geographical position closer to the market and consumers. This has also led to the phenomenon of "relocation" of manufacturing industry. For example, Adidas recently moved its factory back to Germany, and some American enterprises.

At the same time, digital technology has also opened the door for small businesses, giving them the opportunity to reach a broader market, which was impossible in the past.