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Making China your second home market: An interview with the CEO of Danfoss
In an interview, Danfoss CEO Jørgen M. Clausen discusses the challenges of making China this industrial-control company's "second home market."After glimpsing Greater China's many business opportunities on a journey through the old Silk Road, Clausen launched a strategy to achieve market shares similar to those Danfoss holds in Europe.Establishing R&D centers in China and acquiring local companies, Clausen says, is the way to address the key challenge: widening the company’s product range to include products designed for the huge mass market.Clausen explains that Danfoss aggressively protects its intellectual property, lobbies government officials tirelessly, and trains Chinese managers to speak their minds.
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