Mr. Yao Weimin
Mr. Yao Weimin -Huawei Technologies Addresses FIIBians
He highlighted the role the two
developing economies like India and China can play in global economic order. Mr. Weimin emphasized the similar history of the two countries in terms of both being
the two earliest civilizations, closest nations and with a background of cultural, social and religious sharing and friendship. He further quoted 70 billion US dollar
bilateral trade between India and China as the evidence for scope and magnitude of mutually constructive relationship.
Huawei Technologies is a twenty three year old Chinese firm and an end to end hardware and software service provider in Telecom Sector. It is an employee owned organization. It is one of the fortune 500 companies with presence in 140 countries and with 20 billion US dollar business last year. Mr. Weiminn attributes the success of the organization to its human capital; 50% of the employees are engineers and most of them with a Masters degree. Mr. Yao proudly revealed the extent of investment made in R & D and how has this fuelled its evolution from a low end contributor in the value chain to a high end contributor. Today, Huawei Technologies is end to end service, solutions, software and hardware provider in the telecom sector. The firm has now ventured into Enterprise and Government communication domain also. Mr. Weimin proudly asserted that the organization has achieved global competitiveness through extensive Research and Development set ups across the globe.
While shedding light on challenges and strategies to thrive in a foreign market, Mr. Rajiv Weimin underscored the criticality of developing a long term partnership with the host nation and striking a win-win relationship. He further illustrated the point by sharing with the college as to how Huawei Technologies has partnered with India as responsible corporate citizen, by being an employer to approximately 5000 locals, by setting up R and D bases and training centers and by channelizing resources towards Corporate Social Responsibility Initiatives. Huawei Technologies has made significant contributions in the social domain through initiatives targeted at education, bridging technological divide in the society and developing sustainable relationships between India and China.
He further added that while in a foreign market you need to strike the right balance where on one hand you have to address the local context and on the other you have to be globally competent. Think Local Act Global- he says is the phrase that captures the essence.
Constant learning and relearning the global best practices, dealing with legal, cultural and social fabric of the host nation and managing multicultural staff; were some of the other challenges that he put forth.
He concluded by urging young Indian managers to be more action oriented in their approach.
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