On the afternoon of October 17, the “Forum on Business Models and Circulation Innovation for Developing Countries” jointly organized by the MOFCOM Training Base for International Business Officials (Shanghai), the College of Business Administration and He Ying Studio of the Shanghai Municipal People's Government Decision Consulting Research Base was successfully held. He Ying, dean of "The Belt and Road" Sustainable Development Research Institute of Shanghai Business School, presided over the forum. Vice Professor Lv Jie from the College of Business Administration of Shanghai Business School, Professor Zuo Peng from the College of Business Administration of Shanghai University of International Business and Economics, and CEO of Asphalt Lake Company in Trinidad and Tobago, Svedaka Matthews, delivered keynote speeches. 22 participating officials from 8 countries including Jordan, Nigeria, Rwanda, Palestine, Albania, Sri Lanka, Trinidad and Tobago, and Venezuela attended the forum.
Based on brand soft power, professor Zuo Peng comprehensively analyzed the new driving force of circulation innovation in the new cycle of consumer recovery. She stated that with the continuous evolution of the global economy in the 21st century, the status and role of developing countries have become unprecedentedly important. As a developing country, China's circulation innovation can provide reference as the innovation models for other developing countries. After the epidemic, China has ushered into a new cycle of consumer recovery. On this basis, new characteristics have emerged in the evolution of consumer behavior: significant diversification of channel choices, intensified flattening of the consumer market, and enhanced brand driven orientation. Based on the above new characteristics, there have been new changes in the distribution channels: the retention was attracted by three-dimensional layout of all channels, the transformation of distribution enterprises from individual operations to complex operations, and the reconstruction of physical channels promoted by the market sinking. In the face of these changes, brand soft power plays a crucial role.
Professor Lv Jie explored the forum from a micro perspective, with the theme of "Knowledge Network and Creativity of R&D Teams in Chinese High Tech Enterprises". She pointed out that with the rapid development of China's economy and the acceleration of technological innovation, high-tech enterprises have become an important force driving China's economic development, and R&D teams are the core activities and starting points of innovation for high-tech enterprises. Therefore, R&D team managers should fully utilize the heterogeneity knowledge of team members, establish a broad shared knowledge network, balance the density of team knowledge network and the openness of team cognition. Meanwhile, employee creativity is a key driving force for enterprise development and change, and team leaders should fully recognize the important role of empowering leadership in enhancing employee creativity.
Mr. Svedaka Matthews, as the CEO of Asphalt Lake Company in Trinidad and Tobago, introduced how Asphalt Lake Company transferred to the guests. Mr. Matthews summarized the company's characteristics as "VRIO" - valuable, rare, inimitable, and organized. Mr. Matthews further proposed that the company's development goals are to achieve EHSS (Environment, Health, Safety, and Sustainability), improve the financial feasibility, sustainability, and operational efficiency, and establish a performance-oriented culture.
During the Q&A session of the forum, Ms. Anisa Hisesani from Albania expressed gratitude to the speakers. She further emphasized the importance of research and development and she believed that the forum during the seminar provided a good communication platform for participants from various countries, and hoped that all countries could work together to promote innovation.
Ms. He Ying made concluding remarks, pointing out that in the face of unprecedented changes in a century, uncertainty is the greatest certainty. "Platform orientation is the trend, the sharing economy is the mainstream, independent brands are the direction, and digitalization will become the normalcy. Business models, as a new productivity, lead the economic development of various countries. In the future, business models will place greater emphasis on platforms, sharing economy, and digital economy. Innovation in circulation encompasses innovation in various aspects such as circulation, organization, business formats, and concepts. Multiple and multi-level innovations jointly drive the development of enterprises and promote the reconstruction of production and lifestyle. This forum is a small window where ideas from eight countries and four continents collide. She wishes that various countries can embark on a determined development path in the constantly changing development environment through innovation in business models and circulation.
Written by: Sun Ya, Wang Fei
Photos by: Ni Haoran Reviewed by: Chen Wei
