Innovation China: how the Chinese innovate

China:10 Insightson how the Chinese innovate

Asia 5 Bringing you a flavour of business trends in Asia...in just 5 minutes A Futures Coaching initiative www.futurescoaching.com

speed “Speed, not size is what kills you in China” Moto: get it out the door and see how customers react

growth“$2trillion GDP growth over the next four years is theequivalent to adding France to the Chinese economy” Moto: Grow fast

state planning “5 year planned investment gives policy clarity and means hi-tech infrastructure for cities” Moto: $1,5trillion in guaranteed Government investments creates new opportunities

incremental “Not all innovation has to be a radical big idea” Moto: small stuff often creates more jobs and profits e.g. Huaweis $80 low spec phone which is ideal for Africa & S America

short term bets“We are so focused on making money short-term that longer-term opportunities remain unexploited”Moto: We must be able to monetise quickly...even if quality or the long-term suffers

business model “Innovation is not just about new products”Moto: Do things which generate huge economic benefits e.g. Chinese GSM stations have revolutionised mobile business in Africa; Unlike Facebook, Renrens profits come from online games and digital avatars, not publicity

learning “Innovation starts with learning” Moto: Learn from everyone... just dont admit to it

lack of free thinking“The culture of trying uncomfortable things is not popular” Moto: We may have to learn more about externalising a product or brand

intellectual property “We are getting better at this”Moto: Chinese companies taking Chinese competitors to court, will improve the legal context for everyone

cultural alignment“M&A with foreign companies is problematic; getting cultures aligned is very difficult ” Moto: Our culture is different; youll need a partner

Acknowledgement These insights are drawn from the recent Techonomy, 2011 conference. Clicking this link will get you to the full debate (38mins) http://www.livestream.com/techonomy/video? clipId=pla_22b4e19c-8693-4c7d-8336- 0bbc1067b132&utm_source=lslibrary&utm_me dium=ui-thumb

LONDON • PARIS Website: www.futurescoaching.comBlog: http://futurescoaching.typepad.com Email: chris@futurescoaching.com

Innovation China: how the Chinese innovate

by Chris Middleton on Dec 09, 2011

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Innovation China: how the Chinese innovate — Presentation Transcript