Jade Yachts

The visit to Jade Yachts was another of my favorites. We got to see some amazing yachts, watch production of the yachts, and the presentation by the vice president was very good. He talked about their strategy of setting a goal, planning an approach to accomplish the goal, determining the tools/resources available, recognizing threats and evaluating risks, following through with their plan, and finally learning from their mistakes. He also talked about social responsibility, which was refreshing. It was evident from the presentation and discussions that most Taiwanese business strategies are very similar to those in America. With all of the companies we visited, I did not see much that was unordinary in their business strategies. Nevertheless, there were still some differences in business practices. Where I saw the biggest difference between Taiwanese and American business practices was in the cultural environment.

In most cases, Americans are anxious to make business transactions happen as soon as possible. They are also reluctant to mix business with pleasure. Personal relationships between business partners are regularly avoided to prevent conflicts of interest and to avoid “bad blood” as a result of terminating the partnership. In Taiwan, as in many other Asian countries, personal relationships and trust are extremely important between business partners. A potential business partner must be acceptable on a personal level before being considered in a business deal. It is not uncommon in Taiwan for three or four meetings to take place between two companies before one word about a business deal is mentioned. The first meetings will involve meals and recreation, and only personal things will be discussed. They will learn about each other, their families, hobbies, etc. 

This is a Jade yacht

....just kidding. This is a Jade yacht

 

Takes about 2 years to build

Floating in style

There are many customary gestures that are important when building personal and business relationships in Taiwan, such as business card exchanges, gift giving, and proper meal and drinking manners. Each must be done properly to show respect and build trust. Failure to properly adhere to these customs can severely offend someone and permanently ruin any chance for a personal or business relationship.

Lunch with the big-shots.