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Some Thoughts on Leadership and the Development of China’s Innovation Economy

Some Thoughts on Leadership and the Development of China’s Innovation Economy

In the article posted on Hong Kong Baptist University website by Lucas DiLeo entitled “Some Thoughts on Leadership and the Development of China’s Innovation Economy,” the author talks about the prospects of China becoming the leader of the world in Innovation Economy. But the question remains – Is China really going to become the world leader in innovation?

China is the Future leader of the World in Innovation Economy

China is competing and leading the world with her new engines of growth that are driving her forward. We find following from his thoughts:

China on the road to Lead

Continuous improvement and new economic engines are being developed to move the economy faster and forward. China started their struggle few years ago and now she is leading the economic competition among the major industrial powers of the world.

China is not to stop here. They have developed their industry, brains and R&D to stay ahead. China must realize that their next step and phase is not just to compete; they have to lead the world. China is the future leader of the world.

China’s natural advantages

China has developed her industrial infrastructure as per the ideal specifications. They started developing, producing, and supplying to the huge local market; first, completed local requirements and then moved to fill the international voids. They completed this journey quickly and efficiently. World is watching them completely take over the consumer markets. Globalization is the aim of Chinese industry and they are succeeding at fast pace.

Now is the time for China to think beyond present industrial aims and start targeting innovation economy. They have to move forward and develop new innovative technologies other than the existing ones and lead the world for a new beginning.

What are the innovative companies and technologies?

Innovative companies are the enablers of new technologies; they drive product innovation and bring new ideas to the market place. In addition, they propagate innovation throughout the supply chain, driving improvements in design, manufacturing and distribution from their suppliers.

How to achieve this?

China has to take upon this journey and they must keep these factors under consideration:

• Significant potential for innovation rests with traditional industries and state owned enterprises. Services sector is the also a main component of innovative economy. The other factor is the availability of brain the will to do this. China has all the infra-structure available. Need is just to develop a management set up that could plan and streamline each and every thing to realize the dream. The management must be made responsible to develop new concepts in business development and for outsourcing. All the players have to support. Government has to take part to develop innovations especially in environment field and they have the capacity to do it at their own, at their own terms; without any outside help.

• Best brains from every country must be brought together for ideas and their efficient execution to achieve desired results.

Creating ecosystems for innovation

• China has academic centers, R&D facilities and industrial hubs to carry out research and subsequently produce innovative industrial environment. China has the resources so there should be a partnership between people, academia, businessmen and the government.

• All must then get together and make a plan for near and far future to make it a decision-chain that keeps developing new ideas and keeps executing.

How will China lead in the innovation technology?

• China must cross borders to collect and find innovative leadership.

• Adopt new challenges especially in energy and agriculture set up.

• Will have to do things against parochial interests.

• Innovation is around cooperation between industries and brains.

• Finally innovation comes from competition.

To achieve innovation, cumulative resources are available and the innovation leadership is best served by the competition. China is ready to lead the innovative economy. It has the basic infrastructure and the resources. It has the vision and resolve. It just needs to manipulate and combine brains and ideas from the world to accumulate those at one place and execute and then lead the world.

Sometimes we wonder how fast the technology is progressing forward. New inventions are being introduced; especially in telecommunication field. China is leading the word in telecom. They are developing new engines for technological growth.

Innovation is the key word for China

Although, people thought that they could only copy, but now they have proved to the world that they have the ability to think, use brains, innovate and produce new technologies. Latest product of cell phone having web services through satellites is the latest example. Now you don’t have to log onto internet, subscribe and then obtain the user data. This phone provides the same information on click of a button on the cell phone set. They also have improved the quality of their products and the rates are comparatively low.

China has already laid much of the groundwork for her innovation on agenda. China’s trajectory and momentum will carry her forward.

Note: The preceding is a summary of an article found though our research, and is provided here with editorial comment for members only. Please see the full article at the following link for full original content: http://www.hkbu.edu.hk

The New Asia Innovation Team

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