2018.05.25 CoStone Capital Views:
On May 21, the seventeenth CoStone Master Forum, which lasted for two days, was brought to a successful close in Hangzhou, Zhejiang. The theme was "Defining the Future and Surpassing Competition". Dr. Liao Jianwen, Chief Strategy Officer (CSO) of JD, and Dr. Ge Dingkun, Co-chairman of Techand Ecology & Environment and Former Professor at the China Europe International Business School (CEIBS), were invited to give lectures in the Forum.
On May 21, the seventeenth CoStone Master Forum, which lasted for two days, was brought to a successful close in Hangzhou, Zhejiang. The theme was "Defining the Future and Surpassing Competition". Dr. Liao Jianwen, Chief Strategy Officer (CSO) of JD, and Dr. Ge Dingkun, Co-chairman of Techand Ecology & Environment and Former Professor at the China Europe International Business School (CEIBS), were invited to give lectures in the Forum.
Dr. Ge Dingkun: How to Sustain Corporates' Profitability?
Dr. Ge delivered a speech on How Can Medium-sized Enterprises Remove the Growth Bottleneck. He shared his views on enterprise strategy from two aspects: how to choose the battlefield and how to win the battle. He also emphasized that only by adopting a systematic thinking could a CEO make a roadmap or action plans with sustained profitability, thus breaking the bottleneck of growth.
Liao Jianwen: To Build A Coexisting, Mutually Reinforcing, and Renewable Business Ecosystem
Dr. Liao pointed out that technology and consumption upgrading had brought the retail industry to a turning point where the game would be played by totally different rules. The key is to build a business ecosystem where various business models and forms are coexisting and mutually reinforcing and keep renewing themselves. To create tremendous business opportunities, as Dr. Liao said, we have to empower the innovation of future online and offline retail business forms with the existing physical and digitalized retail capacity.
Speaker
Liao Jianwen PhD
Dr. Liao was Professor of Practice of Strategic Innovation & Entrepreneurial Management and Academic Director of the Innovation Research Center at the Cheung Kong Graduate School of Business (CKGSB). Now he is the CSO of JD. Dr. Liao worked in North America and Asia. He once taught at the Illinois Institute of Technology as a tenured professor, the Hong Kong University of Science and Technology, Peking University and CEIBS. Dr. Liao, with a particular interest in the integration of technology and business, enjoys a high reputation in his teaching in and interdisciplinary research on strategy, innovation and entrepreneurship.
Ge Dingkun PhD
Dr. Ge is Co-chairman of Techand Ecology & Environment, Former Professor at CEIBS, and Professor of Strategy at the Peking University HSBC Business School. He received his bachelor's degree in HR Management from the Renmin University of China, and a master's degree in Marketing Management and a PhD in Strategy & Entrepreneurship Management from the University of Illinois. Dr. Ge is a world-class Chinses-American scholar with intensive research on enterprise strategy of growth. He is one of the professors of strategy with the highest rating at CEIBS, described as an accomplished and widely praised "atypical" professor with "excellent academic performance" and a focus on "localization". His doctoral thesis won the Best Doctoral Thesis Prize of the COLEMAN Foundation, American Management Association. He is the only Chinese scholar who won the prize.
Rewritten by Jiang Xiaomei, Edited by Li Yunzhen, Du Zhixin
The year 2019 marks the fortieth anniversary of China’s Reform &Opening-Up, once again, we meet at the turning point of history. What’s the next step for the game, is there any clear guidance? The answer is affirmative.
Our country is enjoying a good momentum of development, which does not come from the Washington Consensus nor the Beijing Consensus. China’s experience has proved that both the visible hand and the invisible hand are crucial: the visible hand, stands for the government-led reform, and would yield benefits for reform and opening up; the invisible hand, stands for the Marginal Power represented by the private sector, and would improve economic efficiency and tax collection, create jobs and employment opportunities.
Provided that we want to protect and expand the benefits form reform, three simple but mandatory agreements are to be made and followed: No.1 Private ownership must be recognized, protected and treated equally with public ownership constitutionally, both ownerships are scared and inviolable;No.2 Make further clarification of the principal position of market economy, “deepen economic system reform by centering on the decisive role of the market in allocating resources”, as President Xi addressed in the third Plenary Session of the 18th CPC Central Committee;No.3 Implement the guiding principles of “comprehensively promoting law-based governance” of the fourth plenum. The rule of law is essential for economic growth, irreplaceable to protect private ownership, and necessary to encourage innovation and entrepreneurship.
Above are three rules for us to avoid falling into the Middle-income Trap. Assuming that we are breaking systematic barriers to private enterprises’ participation in market economy, and boosting innovation and entrepreneurship of our society, then we are heading towards a promoting direction. We are marching in the path of light, regardless of the ups and downs of Sino-US relationship, the drop in GDP growth rate, or the monetary policy.
These principals also apply on knowing how better to run a business: don’t be hedged by rules and regulations at the beginning, pay more attention to your survival, and you’ll learn more when you start your second business.
For many years, Huawei has been the only Chinese company on the list of the Top 50 R&D Spenders. Regardless of the economy and its income, what Huawei has been doing is investing in its future, dedicated to R&D, continuously and resolutely. This provisional work underscores Huawei’s accomplishments, making Huawei anindustry leader.
So, there are standard answers on how to run a company,which could be summarized as concentration and professional dedication, continuous investment on innovation and trying harder in R&D. Entrepreneurship is also important, every single company needs entrepreneurs to push aside all obstacles and difficulties, to implement strategies and ideas. We, as investors, are destined to look for such outstanding entrepreneurs and their companies, invest in them and partner with them.
At this key point of history, a country, a company, or asingle individual, will all need to find the right path. Four decades after the Reform and Opening-up, it’s time to learn from our experience and stop “wadding across
