China News Service, Taiyuan, April 25 (Reporter Fan Lifang) "In the post-industrial era, the top priority for the survival of an enterprise is the ability to innovate." On the afternoon of April 24, Xu Xiaonian, an economist and professor at China Europe International Business School Said in a speech at the founding conference of Taiyuan Station and the first Shanxi Business School Innovation Forum.
This forum was jointly sponsored by China Europe International Business School and Shanxi Transformation and Comprehensive Reform Demonstration Zone.
In recent years, Shanxi has regarded innovation as the “engine” of transformation. This forum aims to build a communication platform to release the innovative potential of talents from top business schools at home and abroad, and inject new vitality and vitality into Shanxi's innovation and entrepreneurship.
Xu Xiaonian pointed out in his keynote speech "Innovation to Respond to Severe Challenges" that with the development of China's industrialization in the 30 years before the reform and opening up, the model of solely relying on investment to drive economic growth has come to an end, and the market supply and demand pattern has undergone tremendous changes, gradually changing from shortages. The economy is moving towards a surplus economy, and the market faced by enterprises has changed from a seller’s market to a buyer’s market.
The picture shows the scene of the first Shanxi Business School Innovation Forum.
Photo courtesy of the organizer
Facing the severe challenges of market competition, the business model of enterprises must move from resource integration to innovation-driven, otherwise they will face market elimination.
Xu Xiaonian said that innovation is divided into two types, one is to create its own market with new products and new technologies; the other is to creatively use existing technologies to solve the pain points of enterprises, and then compete for stock at a sustainable low cost. Market, expand market share.
Xu Xiaonian emphasized that innovation first needs to be focused, and companies must shift from the past diversified and cross-border business thinking to a clear positioning, and the positioning should not be too wide. "Because innovation is the result of long-term deep cultivation in a certain field to a certain stage, not There is a flash of light in the minds of entrepreneurs. Choosing a good market segment and sticking to it will surely produce results."
The second is to differentiate competition.
For example, Alibaba’s social software failed to challenge WeChat, and DingTalk succeeded by cutting into enterprise application scenarios; Taobao, Tmall, and JD giants in the e-commerce field have been numerous, Pinduoduo has found the target customer group to enter the sinking market.
Only dislocation competition can gain a firm foothold and grow stronger in the fierce market competition.
The third is to pay great attention to technology, especially digitization and the Internet.
Xu Xiaonian explained how companies can build digital systems by analyzing large-scale customized production in the apparel industry and digital systems for small and micro loans.
Including basic data collection and cloud storage, establishing a data center for products, customers, employees, and supply chains based on business logic, and establishing a technical platform for developing business software.
One of the characteristics of the digital system is modularity, which can quickly develop products that meet individual needs through the assembly of modules.
Therefore, digitization is not a mystery. Creatively combine and apply various technologies to transform the management of enterprises and establish a digital system. On this basis, business model innovation can also be realized.
Xu Xiaonian said that Chinese enterprises have been growing in the face of challenges, and private enterprises are the main force for future innovation and development.
Only the healthy development of enterprises can guarantee the future of the country's economy.
At the first Shanxi Business School Innovation Forum held that day, representatives from business schools alumni from China Europe International Business School, Peking University Guanghua, Cheung Kong Graduate School of Business, Tsinghua University, Xiamen University EMBA and other business schools held a roundtable forum to discuss the construction of an innovative ecosystem.
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