Skip to content

China's Next Advantage: Innovation

Event Details

Date/Time:
Tue, August 11, 2015
06:30PM - 08:15PM
Venue:
Ruby Room, JP Morgan, 27/F, Chater House, 8 Connaught Road, Central, Hong Kong
Location:
27/F, Chater House, 8 Connaught Road, Central, Hong Kong, Hong Kong
Map address
Registration Period:
07/08/2015-08/11/2015
Price:
HKD 220 (online pre-payment) or HKD 200 (cash or check pre-payment). For sign-up/payment alternatives, please visit http://www.stanfordgsbhk.org/events/E20150811
Contact:
Ms. Christina Chia-Ling Hu

This talk by Professor McKern, based on three years of research on the ground in China, describes the key arguments of his book with colleague George Yip, China’s Next Advantage: Innovation, to be published in March by MIT Press.

China is no longer just the factory of the world. It is rapidly becoming the innovation leader of the world. Its huge and rapidly growing economy, combined with its large number of scientists and engineers and the government’s far-sighted drive to establish a modern innovation ecosystem, mean that more and more Chinese companies now innovate in China, not just for China’s market, but for the world.

Chinese innovation does not follow the Western pattern. Chinese companies have very different approaches to the relationship between innovation and the market, to the organization of change, and to the fundamental purpose of product and process innovation. They have learned not only how to innovate more cheaply than their global competitors, but they have also learned to build innovation processes in collaboration with their customers, and to do it faster than their Western counterparts.

Chinese companies understand and respond to diverse customers and have evolved their strategies from low cost, to “fit for purpose”, to genuine innovation. And their outward investment is moving rapidly from resource security to leadership inside Western markets. Their focus on knowledge creation will soon enable them to challenge the world with disruptive innovation.

Whether or not a company operates today in China, its competitive success in the near future is likely to be determined by innovations created there. It is critical for MNCs to learn the lessons from the Chinese innovation model. The talk will outline strategies to deal with this challenge.

This event is co-organized by Stanford Club of Hong Kong, Stanford GSB Chapter of Hong Kong and Savantas Policy Institute.

 

Event Links

Event 18438