From Past to Future: The changing thread of Chinese management capabilities
Insight from CEO Kelvin Chao of Talent Creations
The working culture
- Mass production time is now over: there is no more “one-size-fits-all”
- Survival or even success no longer constitute major concerns for the young
- Fulfilment, doing what they enjoy, and doing what inspires them are foremost in their minds.
- Working with a company vision as a compass bearing
- In the past, the government guaranteed employees a job
- Now young employees are mobile, not afraid to seek different work experiences
- Important to let the modern employee feel that both the company and the business activity can inspire them.
- In the past, successful Chinese businessmen tended to follow Confucius doctrines based on intelligence, integrity, benevolence, righteousness, and loyalty
- They ploughed back these values into a collectivist approach towards their company and their teams
- In the past, business in China was all about cost
- A firm would hire thousands of people, paying them a same wage and organising their work around two shifts.
- Today, cost is no longer the dominant factor but rather the growth model.
Current to future capabilities
- Change in organisational and functional developments to continue
- In the specific context of Talent Creations, inventory management, engineering, processing, and strategy are the factors which have overtaken priority from mere labour cost
- The young generation is talented and self-driven
- Rather than force younger employees you must empower them
- Structuring of operations to encourage workers to inspire each other
- Still a requirement in China for managers in finance, marketing, and manufacturing
- The new challenge is to recruit different types of expertise that address the fast-changing business environment
- China needs people that are deeper, broader, cross-functional and even cross-industry in profile
- Chinese business needs people who are global and multi-cultural.
Edited by Tom Gamble, the Council on Business & Society, from speaker’s notes: by kind permission of Mr Kelvin Chao
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