Wednesday, March 19, 2008 | 12:00 AM EDT - 12:00 AM EDT
Jack Perkowski, chairman and CEO of ASIMCO Technologies, gave National Committee members and guests a snapshot view of his experiences in building an automotive parts business in China.
Mr. Perkowski left behind a Wall Street career in the early 1990s to investigate business opportunities in China; he subsequently built ASIMCO into a leading company in China, with eight factories, 52 sales offices and 12,000 employees.
One of the primary challenges he faced in building the company was establishing effective management and recruiting managers who fit the culture of the industry. To strengthen management, he initiated a core value exercise with his managers in 1999, and used this to help shape the company’s culture.
Mr. Perkowski also touched on the impact of new labor laws, the currency issue and insufficient IPR protection, and their impacts on businesses operating in China.