One day, a textile product trading company received a phone call from one of its suppliers: the caller mentioned that their factory was relocated, and their bank account was changed. The supplier asked to wire the payable balance to their new bank account. The CFO of this trading company recalled that he read an article about a similar case in which the subject company was caught in trouble because they wired money into the trading partner’s new bank account. What should the CFO do in this case?
In recent years, Taiwan has been suffering from economic downturn. Some people pointed out that Taiwan's success caused its downturn. How?
Economically, is Taiwan competing with China, or they are helping each other?
Officially, the United States has supported the One-China policy since WWII, which acknowledged only one Government as the sole legal Government of China. So how does the United States relate to Mainland China and Taiwan?
In Taiwan, if you have a chance to pay in a shop or restaurant, the cashier or waiter will ask you for your business' Government Uniform Invoice Number (GUIN統一編號) before he or she issues you a receipt with the restaurant's GUIN and your GUIN printed on it.
In North America and Western Europe, you seldom see a seal (or stamp, or chop) on an invoice. Yet this is a standard business practice in Taiwan. Legally, what does the seal mean? How many seals must a company have?
New visitors to Taiwan quickly find out that, besides the Gregorian calendar and the Chinese calendar, Taiwan has its own calendar system. What is the history? How does it work?
Understanding the definition of SMEs in Taiwan is important because it helps to plan for the sales & marketing, and credit management tactics in the region. Would it be possible that more than 80% of the companies in Taiwan are SMEs?
While we were preparing the book, there was a debate whether we should use “Taiwan companies” or “Taiwanese companies”. By searching the internet, both terms "Taiwan Companies" and "Taiwanese Companies" were commonly used. Which one was the right one?
Most credit management managers in multinational companies found that it is relatively difficult to do credit management in Greater China (Hong Kong, Taiwan, and China). The challenge is mainly due to the dissimilarity of legal system, the business culture gap, and the lack of statistical data. The Greater China market is too important to be ignored, isn’t it?
Alexander has over 25 years of experience in Business Information Management and Information Technology. Previously, he has held leadership positions in the world’s leading Business Information providers, including Managing Director of Thomson Reuters Asia, and General Manager of Dun & Bradstreet (D&B), Hong Kong and Taiwan. In addition, he personally managed Hong Kong's Commercial Credit Bureau while working with D&B, and the Consumer Credit Bureau through his directorship at TransUnion Limited.