To do business in China, become like the Chinese. Take Paolo Bazzoni's word for it.
"Creating value through managerial skills and innovation: this is the mindset which both Bocconi and my work experience have given me," explained Paolo Bazzoni, executive board member of Bonfiglioli China and board member of the Italian Chamber of Commerce in Chongqing. Having graduated in 1981 with a degree in Business Administration, Bazzoni began his professional career in business management at Pirelli Italia, in the cables sector. In the mid-90s he moved to the United States, where he held the position of Vice-President and CFO for Pirelli Cavi e Sistemi, which later became Prysmian. In 2007, Bazzoni moved to Beijing to become the CEO of Prysmian China, where he was given the task of restructuring and organizing the business. Today he lives in Chongqing and Shanghai. "The Chinese market has matured, and it's demanding. That's why one needs to become like the Chinese - to become a local.
There are still plenty of opportunities for Italian companies, but they need to be competitive with costs, service, and lead time, while maintaining their top technology and quality characteristics. That's why it's fundamental to create pyramidal situations in which Chinese top management can communicate with an Italian representative who is be able to best interpret and translate not only the practical aspects of the parent company but also its philosophy, and also create trusting relationships with its key Chinese customers and partners." Bazzoni maintains that China isn't for everyone. It's not just a matter of the language, but also integration. "For Italians, this isn't that difficult because our cultures have similar fundamental values, like family. I'm married to a Chinese woman, and this has helped me to get to know the local culture up close. I have a son in China, and a daughter in Milan. While I almost feel like I'm Chinese, I'll never turn my back on my Italian roots, which are stronger and more refined than ever."
When Bazzoni returns to Italy, he loves to take a break in his Lunigiana home, even though "I miss Chinese food after a while." Bazzoni's job involves working with the Chamber of Commerce on the issue of integration in favor of cooperation, in synergy with the national economic system. For example, his task involves identifying reliable local partners to propose to Italian businesses that want to enter into the Chinese market, especially in the southwestern region, where the growth rate is double as compared to the national average. "Once a partner has been identified, the business needs to work on governance; then the local managerial structure needs to be set up, and it's crucial to nail down clear, strategic guidelines from the start. Finally, staying on the path taken - while being consistent and patient - is fundamental."
Paolo Bazzoni is one of the over 500 Bocconi alumni present in China - where on March 11, in Shanghai, will be held the 4th edition of the Bocconi Alumni Global Conference.
Click here to learn more about the Bocconi community in China and read the stories of other alumni living there