Tyler McKay, June 3rd, 2016
During our two weeks in Beijing, China, we made four corporate visits to KPMG, Hanergy, Hyundai, and Yanjing. Each one of these visits help shaped my perception of China’s economy and business principles in numerous ways.
Our first visit was to KPMG, where Luke Treloar spoke to us. His presentation was a great introduction to my experience in China that showed me the growing significance of China’s economy. KPMG’s statistics showed that the middle class had grown thirteen percent in the past five years and that it was projected to grow to make up fifty-one percent by 2020. Mr. Treloar also spoke about how China’s government has five-year plans, which are a number of goals set every five years for China’s economy. Right now China is on their 13th five-year plan. Some of their goals include increasing innovation, improving living standards, and shrinking the disparity between rural and urban communities. I found these five-year plans very interesting, because the plans are a completely new idea to me and vastly different from how our U.S. government plans and operates.
Our second visit was to Hanergy, which is a solar energy company. We were able to tour one of the company’s buildings and see the new concepts and designs that they were working on. One of the coolest designs in my opinion was the self-driving, solar-powered car. It was very modern looking and the interior resembled a dining room with four chairs surrounding a table. Other product concepts included solar powered jackets and shorts that possessed the capability of charging phones and other electronic devices. Hanergy was a great insight into the future of solar energy products that will be used not only in China but around the world as well.
Our third visit was to a Hyundai manufacturing plant. I enjoyed seeing the massive assembly line, and the ease with which the production process flowed. There was neither wasted movements nor time by both the machines and the factory workers. One of the most notable features of Hyundai’s assembly line was that they were able to produce several different car models on the same production line. The manufacturing process of Hyundai showed me how vital supply chain management is to businesses.
Lastly, we visited Yanjing, which is one of the leading beer manufacturers in China. Yanjing showed us a video that presented us with all the different marketing techniques that they have used over the years. Sponsorships were one of the main marketing avenues used by Yanjing. The have sponsored events such as the Olympics in 2008 when they were in Beijing. They have also sponsored the Houston Rockets when they had star player Yao Ming. Similar to Hyundai, we were able to visit Yanjing’s factory and see the production process. The efficiency in production was flawless, evident by their ability to produce over thirty thousand beers every minute. The visit to Yanjing showed me the importance of marketing and how to market products in China.
The four corporate visits to KPMG, Hanergy, Hyundai, and Yanjing really shaped my perception of business in China. KPMG showed us how China’s economy is going to continue to grow for numerous reasons. Innovation such as Hanergy’s solar power, efficient manufacturing processes like Hyundai’s, and great marketing techniques such as Yanjing’s are great examples of how China’s economy has grown so rapidly to this point and why it will continue to grow.
Categories: 2016 Trip