Tsinghua explores new biz models in annual roundtable
- By Chen Boyuan
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E-mail China.org.cn, December 14, 2015
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Tsinghua explores new biz models in annual roundtable. [Photo by Chen Boyuan / China.org.cn] |
China's prestigious Tsinghua University launched the 2015 International Workshop on Business Models last Friday in Beijing. It was the third consecutive time for it to hold such an annual seminar, with a focus on how new business models could be smoothly implemented in organizations.
Business modeling is increasingly recognized as an element of innovation and a key driver of corporate performance. Most successful international companies, such as Coca-Cola, McDonald's and China's home-grown Alibaba, have achieved their outstanding global success with innovative business models, according to the leading international economists attending the seminar hosted by the School of Economics and Management (SEM) of Tsinghua.
"Great entrepreneurs are inventors of revolutionary business and trade models," said Zhu Wuxiang, professor at Tsinghua SEM, and a co-founder of the roundtable.
Coca-Cola pioneered franchising as long ago as 1899. McDonald's generated huge global revenue only by opening new outlets from the sheer profit obtained through existing restaurants. And Alibaba, while modeling itself initially on eBay and Amazon, introduced the third-party payment platform Alipay, smoothing out the risks in online payment a decade ago, when China's online banking sector was far from its present-day maturity.
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