Today was more hectic than usual, due to last minute preparations for Monday’s meeting. However, to be honest, Monday’s event is less about meeting with foreign banks than it is about signing contracts. After all, the real measurement of success will be how many signed letters of intent we receive from our guests; inviting high profile representatives and treating them to a fancy lunch afterwards is merely a means of enhancing the Bank’s reputation. While I’m sure the same tactic applies in the U.S., seeing this happen firsthand is a bit unnerving, to say the least. One thing I have learned in all my trips trips to China is that a very large part of Chinese culture is the concept of “saving face” (给面子). In other words, people are motivated to do certain things in order to preserve and enhance their own image and reputation. For example, if someone invites to you dinner, it becomes your obligation to return the favor. Business is no different. As a means of saying thanks to those foreign banks who have decided to do business with CITIC, inviting representatives of higher title from these banks to lunch becomes a matter of saving face for CITIC. In this case, the actual invitation process is delegated to the Financial Institutions group and it’s leader Yu Yong. Yu Yong, in turn, must make it his priority to successfully carry out the invitations, or he risks “losing face” (丢面子). In such as fashion, the burden of responsibility is transferred down the ladder. Although it is arguable that this system of management is ultimately fueled by personal interest [and desire to save face], such motivation also leads to higher performance and results. The weakness of this system, however, is that the company itself lacks a sense of identity. The “will” of company is instead replaced by an amalgamation of all the employees’ desires and interests. In such an environment, it becomes difficult for employees to act in the pure interest of the company, because they prioritize personal goals above all end. According to Jim Collins in Built to Last, a company that is defined by its employees rather than the other way around will never become a truly “visionary company.” If this is in fact true, then it appears that China may have to undergo a drastic change in its workplace culture if it wants to achieve long-term success in the global market.