Making China your second home market: An interview with the CEO of Danfoss
The McKinsey Quarterly -- Purchasing, 2/13/2006 2:00:00 AM
* In an interview, Danfoss CEO Jørgen M. Clausen discusses the challenges of making China this industrial-control company's "second home market."
* After glimpsing Greater China's many business opportunities on a journey through the old Silk Road, Clausen launched a strategy to achieve market shares similar to those Danfoss holds in Europe.
* Establishing R&D centers in China and acquiring local companies, Clausen says, is the way to address the key challenge: widening the company's product range to include products designed for the huge mass market. * Clausen explains that Danfoss aggressively protects its intellectual property, lobbies government officials tirelessly, and trains Chinese managers to speak their minds.
This article includes the following exhibit:
* Biography of Danfoss's Jørgen M. Clausen
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