Chapter 7: Talent Management Best Practices: Harnessing the Dragon for Competitive Advantage

The rise in the Chinese economy in recent decades has increased the influx of investment dollars into the Chinese economy creating opportunities for new multinational corporations (MNCs) and local organizations. China’s economy is evolving from predominately an exporter of goods to now being one of the largest consumers of the world market. Thereby creating opportunities for organizations to distribute products and services in their own back yard. However, this growth, as with any other, does not come without challenges. Corporations are challenged with globalization and emigration of knowledge workers, as well as challenged with the changing demographics and a higher demand of workers needed with specific skill sets, experience, and motivation (Beechler & Woodward, 2009).