innovation china: how the chinese innovate
DESCRIPTION
A concise, visual look at how the Chinese go about innovation.Part of the 'Asia 5' series giving quick access to trends shaping the 'Asian Century'.TRANSCRIPT
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
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