Research On Localization Strategy Of A Medical Device Company In China

With economic globalization and rapid development of regional economies,multinational corporations actively carry out the localization strategy worldwide and have obtained significant achievements.The localization strategy has already become an important strategy that many multinational corporations currently must adopt for the sake of their management and development.As China's economy continuously and stably grows,the investment environment continues to be optimized,and policies are implemented including construction of Free Trade Zone,the Belt and Road,Guangdong-Hong Kong-Macao Greater Bay Area,innovation and the like,localization development of multinational corporations in China are rapidly expanded.Since reform and opening,many multinational corporations actively promote the localization strategy in aspects including no matter production and manufacturing,marketing,or human resource,research and development and the like.The Chinese market gradually becomes a critical position for multinational corporations to implement their localization strategies.This paper,with the medical equipment industry and the multinational corporation's localization strategy as the research perspectives,used the literature study,the strategic management and analysis,and case study in which the company A serves as the specific case,to probe into the problem of localization strategies of multinational corporations in the industry of medical equipment.Moreover,on this basis,this paper conducted comprehensive thinking and analysis in order to better improve the operation and management level of multinational medical equipment corporations and meanwhile provide theoretical basis for macro decision-making of Chinese government as well as globalized development of corporations.This paper mainly contains five chapters,wherein the first chapter relates to the introduction mainly comprising the research background and research significance,status quo of research literature at home and abroad,research contents,research methods,and possible innovative points;the second chapter relates to relevant concepts and basic theories which describe involved concepts such as localization and the localization strategy,product localization,marketing approach localization,human resource localization,and research and development localization,respectively,and provides description for relevant theories;the third chapter relates to status analysis deeply discussing the background,the status quo,and motivation of localization of multinational corporations in the medical equipment industry in China and pointing out existing problems;the fourth chapter relates to case study providing analysis of the company A including a basic introduction to the company,the situation of the localization strategy,motivation analysis,strategy analysis,and prospect of the developing trend of the localization strategy in China;and the fifth chapter relates to conclusions and suggestions.It is discovered through research that the localization strategy of multinational corporations in the medical equipment industry is a systematic process,which not only requires localization of products and marketing approaches,but also needs to pay attention to localization of human resource and research and development.Accordingly,it is necessary that the localization process in China needs to be continuously promoted and upgraded.In addition,the company A as the case studied in this paper plays a good demonstration effect on development of the medical equipment industry in China and even implementation of the localization strategy of relevant corporations.