Cross-strait Entrepreneurs Discuss Innovation Opportunities at 2nd CEIBS Taiwan Forum
April 12, 2017. Taiwan – Globalisation-generated opportunities for cross-strait collaboration as well as the impact that trends in science and technology are having on economic growth were among the issues explored by well-known scholars and entrepreneurs who headlined the 2nd CEIBS Taiwan Forum today.
“Over the years, Taiwan – which is two decades earlier than mainland China in its economic development cycle – has accumulated a wealth of experience in aspects such as branding and technology. Companies across the Strait will have a large number of opportunities for cooperation in the future,” predicted CEIBS Vice President and Dean Professor Ding Yuan during his speech on “Cross-strait Opportunities for Cooperation within the Context of Globalisation”. He pointed out that companies from mainland China often look beyond their immediate geographical area in their search for resources and capabilities that can make them more competitive at home. “These strengths garnered from outside would complement the advantages they have at home, such as strong government support and lower costs of capital; however they still face many challenges overseas,” Dean Ding Yuan told the hundreds of business executives from Taiwan who turned out for the event.
Sharing Economy & Internet+
Over the past few years, internet+ has become an integral part of the Chinese government’s strategy, and enterprises linked to online transactions – including those from the sharing economy – have boomed. Today, the question is: what role will the sharing economy and internet plus have on future economic growth? As CEIBS Professor of Management Practice Gong Yan pointed out in his keynote speech on “Sharing Economy and Internet+: Practices and Thoughts”, current sharing models have disrupted and reshaped traditional experiences and unlocked the value of idle assets. He provided concrete data by looking at the various models used in the ridesharing market: long-term rental (Shenzhou/eHi), flexible rentals (ZIPCAR), online car hailing (UBER/Didi), P2P car rental, and the model that sees players moving from manufacturer to operator (Car2Go/Car2Share). “It will be well worth waiting to see what the future holds for this field,” he said, noting as well the constraints faced by the sharing economy. These, he said, include client behaviour, market distortion as a result of incentives offered, oversharing, etc.
Innovations in Science & Technology
Successful companies are those who shape their strategy by effectively predicting, spotting and optimising trends. This helps them transform themselves, as required, to stay ahead of competitors. NTU’s Professor of International Business Department in the College of Management, Tang Ming-Zhe explored the role that science & technology has played in driving industrial upgrades in Taiwan by drawing on examples from its stellar performance in the global semiconductor industry. “Good strategies must be results-oriented, and those who are formulating strategy should be able to see opportunities their rivals cannot, develop core competitiveness, and implement their strategy throughout the company,” he said.
The role that technology plays in innovation was also explored during a panel of entrepreneurs from industries including Virtual Reality (VR), cultural and creative, as well as healthcare. Participants shared their thoughts on how to promote corporate development through technological innovation, discussed how Cross-strait high-level players can work together at the cusp of the Fourth Industrial Revolution, and seize opportunities for mutual benefit in the years ahead. The relationship is already bearing fruit. President of Advantech Co. Ltd. Liu Kezhen spoke of the value of – and synergies – from Cross-strait collaboration, saying it had played a significant role in his company’s success. Founder of Di’an Diagnostics Chen Haibin (a CEIBS alumnus) is confident even more gains will be made in the future, pointing to three mega trends in the healthcare industry that are closely linked to technology: accurate clinical diagnosis, surgical intelligence and the rise of widely accessible healthcare solutions. Meanwhile founder and CEO of Shanghai Graphic Design Information Co. Ltd. Zhou Qinghui (a CEIBS alumnus) is optimistic about the future of the VR industry. He sees parallels between it and the internet industry of the 1990s, and therefore believes there are plenty of opportunities ahead for VR. For his part, President of Jike Film Co. Ltd. Chen Le is confident that technology such as Artificial Intelligence – sometimes regarded as a threat to employees within specific sectors – cannot replace human creativity within the cultural and creative industry. Creativity, he believes, will remain unique to human beings. The topic of the cultural and creative industry across the Strait was explored in depth by Founder of Taiwan’s Business Weekly Mr. Jin Weichun, who is also author of the bestseller Still Learning. “Cross-strait cultural exchanges are of great importance for a rising China,” he said. The half-day event was an opportunity for fruitful exchange between entrepreneurs from mainland China and Taiwan. Participants also included President of Universal Vision Biotechnology Co. Ltd. Ms. OU Shu-fang, who is CEIBS Alumni Taiwan Chapter President; President of EMBA Alumni Foundation Mr. Wu De-Feng, who is also NTU EMBA Alumni Association President; and renowned Taiwanese writer Wu Dan-Ru, a CEIBS EMBA alumna who moderated throughout the forum.
Held at the International Convention Hall in National Taiwan University (NTU), the forum was jointly organized by CEIBS Alumni Taiwan Chapter and NTU’s EMBA Alumni Association. To date, CEIBS Taiwan Alumni Association has over 300 members from all walks of life and various industries. Today’s forum also marked the end of CEIBS EMBA Taiwan Culture Study Programme. Since the opening of the programme in 2011, CEIBS has facilitated five visits by groups of EMBA students to the “Treasure Island” in the East China Sea. With hard work and innovation, Taiwan has completed the journey from “a nascent economy” to “industrial transformation”. Through the study programme and alumni forum, participants not only deepened their knowledge of how Chinese traditional culture is being passed on across the straits, they also traced Taiwan’s economic development and transformation and explored new opportunities for cross-strait cooperation.
China Europe International Business School (CEIBS, www.ceibs.edu) is among the top international business schools in Asia. It has campuses in Shanghai, Beijing, Accra in Ghana and Zurich in Switzerland as well as a teaching centre in Shenzhen. CEIBS offers MBA, EMBA, Global EMBA, Finance MBA (FMBA) and Executive Education programmes. It is the only business school in Asia to have simultaneously made it to the Financial Times’ top 30 list of MBA, EMBA and Executive Education programmes. CEIBS’ world-class faculty – from both China and abroad – are experts in their fields. CEIBS has over 19,000 alumni from more than 80 countries and regions across five continents, and has provided management education to over 130,000 executives both at home and abroad.