Lulu PLC Clothing Manufacturing In China Essay Example | Topics and Well Written Essays - 2000 words

Lulu PLC Clothing Manufacturing In China - Essay Example This research will begin with the statement that Lulu PLC Company is a textile company specialized in the manufacturing sector and is based in the UK. In the recent years, the company has engaged in business relations targeting international market. Recent developments led to the company developing a manufacturing plant in China. Rapid economic growth and industrial development have been witnessed in China in the recent past. China is ranked third from the U.S and Germany in the rankings of world’s trading nations. Business organizations intending to exploit business opportunities in China has a mandatory task to understand the prevailing business environment as this may have profound consequences in business development. The Cultural and political environment in particular greatly affects any business performance. The government of the People’s Republic of China has over time developed a market economy in the system, which is dominated by socialist characteristics. Soc ialism in China advocate for collective or state ownership of economic resources and their distribution. Equal opportunities to all characterize the mode of production. This poses a challenge to Lulu Company in that it may take time before adjusting to the common ownership and sharing of production resources. Clothing and textile industry has been in the lead among the industries that have dominated the economy of China. She has been a leading country in supplying the world market with the commodity.