innovation china: how the chinese innovate

China:10 Insights

on how the Chinese innovate

Asia 5Bringing you a flavour of businesstrends in Asia...in just 5 minutes

A Futures Coaching initiativewww.futurescoaching.com

“Speed, not size is what kills you in China”

Moto: get it out the door and see how customers react

speed

“$2trillion GDP growth over the next four years is the equivalent to adding France to the Chinese economy”

Moto: Grow fast

growth

“5 year planned investment gives policy clarityand means hi-tech infrastructure for cities”

Moto: $1,5trillion in 'guaranteed' Government investments creates new opportunities

state planning

“Not all innovation has to be a radical big idea”

Moto: small stuff often creates more jobs and profitse.g. Huawei's $80 low spec phone which is ideal for Africa & S America

incremental

“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

short term bets

“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, Renren's profits come from online games and digital avatars, not publicity

business model

“Innovation starts with learning”

Moto: Learn from everyone... just don't admit to it

learning

“The culture of trying uncomfortable things is not popular”

Moto: We may have to learn more about externalising a product or brand

lack of free thinking

“We are getting better at this”

Moto: Chinese companies taking Chinese competitors to court, will improve the legal context for everyone

intellectual property

“M&A with foreign companies is problematic; getting cultures aligned is very difficult ”

Moto: Our culture is different; you'll need a partner

cultural alignment

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_medium=ui-thumb

Website: www.futurescoaching.comBlog: http://futurescoaching.typepad.com

Email: chris@futurescoaching.com

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