World Medical Corporation Ltd ("World Health"), with its headquarters located in Chongqing, China, was founded in 2001 as a joint venture between a very large state-owned Chongqing Medicine («CMC»), which owns 51% of shares and Jeff Jiang, president of the company, which owns a 49% stake. Both World Medical and CMC are medical product delivery companies are wholesalers who buy pharmaceutical products from manufacturers and sell them to the hospital by pharmacies or retail drug trade. From the beginning, the agreement between the CMC and the World Medical has benefited both sides. Jiang was only in his mid-30s, when he co-founded the World Medical. He belongs to a generation of business leaders who came of age during China's transition from a centrally planned economy to a regulated one operating according to market processes. He tried to build on the success of his company in a strong organizational culture, good management and a clear strategy, an approach that stands in contrast to that older entrepreneurs who have learned to rely on political instincts, as well as from the business while guidelines state organization. Describes the case of health care reform in China, made by the government. It also describes the evolution of the medical world its first seven years of operation, and ends by asking the students to assess the company's strengths and potential weaknesses. "Hide
by Michael J. Fratantuono, Zhuoran Li Source: University of Hong Kong, 23 pages. Publication Date: September 21, 2009. Prod. #: HKU863-PDF-ENG
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