China CEO Forum: The World 3.0 Trend
BEIJING, Oct. 19, 2011 /PRNewswire-Asia/ — Today, many enterprises are encountering new difficulties. “The days at present are worse than those in the period of financial crisis,” some enterprises complained. The financial crisis had many entrepreneurs reconsider the globalization and redistribute their markets. “My personal advice is that Chinese enterprises not blindly pursue globalization, but to pay close attention to the huge domestic market. Don’t focus on the big markets, but at the small markets and the markets around you…”, said the world famous economist and strategist Pankaj Ghemawat at the 5th China CEO Forum held on Sep. 24th 2011. Meanwhile, he also brought on the latest result of his research: World 3.0.
This session of China CEO Forum positioned its topic at: New Ideas for Growth Transition — The Growth Solutions at New Circumstances. The latest theory of Pankaj Ghemawat provides a new thinking direction for Chinese entrepreneurs.
As the top business forum in China, this conference attracted numerous world-class experts and entrepreneurs around the world to gather in Beijing, such as Pankaj Ghemawat, said globally famous economist and strategist; John Quelch, the famous marketing expert; Qian Yingyi, the well-known economist and the president of College for Economics and Management at Tsinghua University; Yu Bin, Director of the State Council Development Research Center of Macroeconomic Research Department; Zhang Yin, the chairman of Nine Dragons Paper Holdings Ltd.; Tang Jun, the president of Newhuadu Industrial Group and so on. The number of registered forum guests exceeded 1000, and over 100 media attended and covered this conference.
“Globalized intelligence will be further evolved in the coming 10 years,” Pankaj Ghemawat said when explaining this concept. As for any suggestions on the future growth transition of Chinese enterprises, he believes that Chinese enterprises were trying hard to walk out from traditional business models such as low-end manufacturing and labor-intensive industry etc., and began to target the global acquisition of high-value resources, which will be a self evolution process full of opportunities and risks. But, he also advised that Chinese enterprises shouldn’t be misled by globalization, and shouldn’t forget that China has a huge domestic demand to be satisfied. Globalization is being over exaggerated today, which is not the pursuit of direction for most of Chinese enterprises.
In the viewpoint of Pankaj Ghemawat, globalization ‘didn’t bring a real change in the crisscross modes of population migration and business economics, but reflects more merger of companies represented by geopolitical national symbols, especially for those labor-intensive enterprises that take in global intelligence resources through acquisition after having accumulated plentiful funds, and further gain marginal benefits exceeding the real economy in the early global business structure.
In fact, the overseas mergers and acquisitions carried out by Chinese enterprises in recent two years also conform to the trend of World 3.0, and no longer prefer the real economy like SAIC acquiring SYMC, or LENOVO’s zeal for global channels of IBM PC, but tend to seek a strategy intertwining intelligence resources and the mercantilism.
World 3.0 is an extension of Pankaj’s strategy theory. Previously, he once proposed a theory of “semi-globalization”, overthrowing the theory that the world is flat with data one by one. He believed that “semi-globalization” was the real situation of the world. Transnational enterprises cannot be completely invasive, and the real world where enterprises’ place is located between “an (isolated) country and an (integrated) country. The viewpoint of “semi-globalization” may help enterprises to boycott various fallacies originated from the globalization prophecy: massive growth, large-scale standardization, extend tentacles into the world blindly and without national boundaries, and manage to control all foreign enterprises with one method.
It is reported that the scale of 5th China CEO Forum is larger than that of the former sessions, and has higher bright spot frequency. John Quelch described future marketing tools and trends, especially mentioned how to stick to consumers in the era of social media. Tang Jun, Newhuadu president, having made a few public events recently, made a high-key appearance again at this conference. His speech received lots of applause and laughter as usual, and became one of the most welcome guest speakers in the conference. Wu Changjiang, the president of NVC Lighting Holdings Limited and is deep in the betting storm, appeared in public and talked about his thoughts and views.
It is introduced by the organizer that the China CEO Forum always emphasizes international characteristics; every year the world’s most influential management masters will be invited to bring the latest and most current management ideas to China, to have a collision of thoughts with Chinese entrepreneurs. It really practices the purpose of Managers magazine to influence the management practice of both China and the world.
SOURCE Managers Magazine