"This next year is going to be a very tough challenge for our business to face.  But at the same time, it’s also going to give us the opportunity to clean up the lesser performers in our company and upgrade our overall capabilities.”  This was the comment from the GM of a manufacturing technology and services company during my recent conversation with him about the global economic downturn’s impact on his China operation.  It’s also the exact same thought that I’ve heard expressed from several other executives as well.

More Transparent Situation
In fact, for many companies, this upcoming period is being seen as a chance for them accelerate the maturation of their business and employees, by raising expectations and performance standards in their organization.  For many companies and professionals in China, the past 15 years or so have been a long, nearly uninterrupted ride of growth and opportunities to pursue.  So much so that it is not always easy to distinguish which are the highly capable businesses and talents in this market and which are the ones that have mainly gained their success as a result of the highly opportunistic environment that we’re in.  But because of the global financial crisis, this is all in the process of changing, which is a good thing for the long-term growth and competitiveness of China, where the standards and capabilities of many companies and individuals need to be raised.

Slower, But More Sustainable Growth
In my own recent CEO address to our employees, I was very direct in telling them that it will be very difficult to grow our business at the same rate as previous years.  I also emphasized, however, that during the coming year we will be solidifying and building our business for the long-term by significantly raising our branding and positioning in the market, and by being one of the stronger companies to manage through this difficult economic time.  Actually, like many companies in China, this is the direction that we have always been heading towards anyway for us to become a more mature, highly professional and disciplined world-class company.  The global financial crisis is just driving it to happen with greater intent and urgency, and in a more focused manner than before.

Distinguishing Your Value
As a result, achieving success for many businesses and individuals during this downturn will require them to show a greater level of maturity, commitment, and value than they have in the past.  As the country manager of a mobile internet services company put it, “This is not the time to be telling others what you can’t or don’t want to do, but to be thinking about and demonstrating what you can do to bring greater value to your position.  It’s a time when you should be doing anything and everything asked of you to contribute and support your company or department’s success. 

“For instance, I tell my staff that they don’t want to be taking long lunches and breaks, taking care of a lot of personal business in the office, or giving others the impression that they have little to do.  And instead of avoiding new assignments or not showing their willingness to take on extra work, like helping to identify new business opportunities or develop new resources for the company, they should be glad to get involved in additional projects.  Right now, you want to be busy and showing your value.  If and when we need to make difficult staffing decisions, these are the people we’re going to keep and protect.” 

Better For The Long Run
Regardless of why it is happening or whose fault it is, the global financial crisis is what it is.  Meaning that for businesses and individuals everywhere, we have no other choice but to face the tougher realities that it is bringing.  In the upcoming year or so in particular, companies and professionals in the mainland are all going to have to get sharper and better in order to continue to compete.  For the long run, this will benefit many here as it quickens their process and development towards becoming more “world-class” in their standards and capabilities.