2014.07.21 CoStone Capital Views:
On May 31, 2014, the second CoStone Master Forum opened in Yixing, Jiangsu. The Dragon Boat Festival and charming spring added to the lectures. Prof. Bao Zheng at Renmin University of China (RUC) delivered lectures on Organization & Management. Prof. Bao is the first person who interpreted Peter Drucker in China and is a management master. He summarized the theories and practice of management from Adam Smith to Drucker and introduced some of his classic cases of company management consulting over the past 20 years.
June 5, 2014
On May 31, 2014, the second CoStone Master Forum opened in Yixing, Jiangsu. The Dragon Boat Festival and charming spring added to the lectures. Prof. Bao Zheng at Renmin University of China (RUC) delivered lectures on Organization & Management. Prof. Bao is the first person who interpreted Peter Drucker in China and is a management master. He summarized the theories and practice of management from Adam Smith to Drucker and introduced some of his classic cases of company management consulting over the past 20 years.
Prof. Bao Zheng on Organization & Management
Prof. Bao Zheng is good at concluding management philosophies from life. Taking Cai Yuanpei, the first Education Minister of the Republic of China and the President of Peking University, as an example, he compared the president of a university to a CEO, whose duty is also to"raise money and introduce talent". And on this basis, he made a sharp criticism of current higher education system. His speech was full of humour. He made fun of himself, his family, his neighbours, and even Zhang Wei, Chairman of CoStone Capital. With waves of laughter, the audience were totally immersed in the sea of management classics and theories.
Speaker
Prof. Bao Zheng
Prof. Bao Zheng graduated from Renmin Business School(RMBS) in 1982, he then obtained his master's degree and PhD in 1985 and 1992 from RUC. He visited Tokai University under the Sino-Japanese PhD program in 1990 and worked as a visiting scholar in Hitotsubashi University in 1995. In 1996, he was invited by the Japan Society for the Promotion of Science to carry out research on company management practice in Saga University. Prof. Bao is now a top expert of China Stone Management Consulting Group and the Professor and PhD Supervisor at RUC. He has been devoted to research and consultation in strategic management, marketing, organizational change and human resource management. He is also an expert in company consulting in China. His representative works include the Huawei Basic Law and TCL: Defeat Scale with Speed.
Rewritten by Jiang Xiaomei, Edited by Li Yunzhen, Du Zhixin, Wei Yiyi
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
