The Chinese have their own version of the BBC, a worldwide radio program which broadcasts in English and has a website to boot. A current article laments some shortfalls in the market economy.
"Business ethics and the spirit of contract are the foundations of the market economy. However, a string of food safety scandals across the country has dominated headlines in recent years. It requires a review and self-examination by Chinese enterprises. The cost caused by lower legal compliance is very high for an enterprise," Wu said, adding that poor performance in legal compliance reflected the fact that Chinese entrepreneurs need to improve their sense of responsibility toward their employees, their customers and society as a whole.
We have the same problem with safety issues in the USA market, especially in medicine. While ethics and contracts are foundational, what is the genesis of each? It is in serving the customer.
It does not serve a customer to be in doubt as to the quality of the goods on offer. China is experimenting with clean markets, with one effort being amazon.com and yelp-style internet feedback systems. This will do more than any state regulation to achieve the goals of clean business in China.
Feel free to forward this by email to three of your friends.
"Business ethics and the spirit of contract are the foundations of the market economy. However, a string of food safety scandals across the country has dominated headlines in recent years. It requires a review and self-examination by Chinese enterprises. The cost caused by lower legal compliance is very high for an enterprise," Wu said, adding that poor performance in legal compliance reflected the fact that Chinese entrepreneurs need to improve their sense of responsibility toward their employees, their customers and society as a whole.
We have the same problem with safety issues in the USA market, especially in medicine. While ethics and contracts are foundational, what is the genesis of each? It is in serving the customer.
It does not serve a customer to be in doubt as to the quality of the goods on offer. China is experimenting with clean markets, with one effort being amazon.com and yelp-style internet feedback systems. This will do more than any state regulation to achieve the goals of clean business in China.
Feel free to forward this by email to three of your friends.
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