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] |
In his keynote speech, Wei Wei, professor from Peking University HSBC Business School and a co-founder of the roundtable, compared advanced technologies to "decent rice grains" and creation of a suitable business model to the work of "skillful housewives". He added: "Only by having them both at the same time can you make a tasty rice meal" and the same was true of business models becoming "instrumental" in enterprise success.
Prof. Wei also tried to clarify the subtle differences between business and management models from the economic perspective. He stressed that a business model should "focus more on the business activities themselves" such as processes leading to profitability. In contrast, how an executive manages staff engaging in those activities should be categorized as a management model.
Prof. Zhu said the Tsinghua workshop also tried to explore the key antecedents and design elements of business model innovation, and how to manage the process through which business models are innovated through integrating academic perspectives with practitioners' experiences.
The International Workshop on Business Models was created in 2013 with an aim to provide a platform for the "fusion of insights" from both research and practice.
In particular, the platform is predicated on the belief that researchers and practitioners could mutually benefit from the exchange of ideas and insights. On the one hand, economists bring a holistic view on business models to help practitioners tackle difficulties with academic solutions; and on the other side, practitioners use their real-world and hands-on experiences to help scholars "crystalize" and further develop business model frameworks, according to the explanation of Tsinghua SEM.
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