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Song Zhiping: Business First

Apr 20-2021   



Today’s entrepreneurs should mainly devote their energy to business decisions and focus on strategic choices and situational judgement, says Song Zhiping, NSD Professor of Practice, in a recent forum. That doesn’t mean management isn’t important; it’s just that business decisions should carry more weight, he explains. 

 

Entrepreneurs are advised to delegate management to subordinates. As they keep their eyes on business decisions, they are focusing on doing the right things, while the subordinates charged with management are focusing on doing things in the right way, says Prof. Song. He’s also the director of both China Enterprise Reform and Development Society and China Association for Public Companies.

 

His views on business and management are comprehensively laid out in his new book, Business First. The insights are based on his 40 years at the helm of various enterprises and keen observation of the nuanced connotations of management in Western and Chinese contexts. Whilst in the West ‘management’ encompasses both business decisions and management ones, in China it is widely associated with looking inward, perfecting processes, and improving efficiency. 

 

For many Chinese companies, management issues are not as challenging as before. The fact is that even if perfection is achieved in cost, quality and service, an enterprise is still likely to run into the ground because of bad business decisions, says Prof. Song. 

 

He offers some advice for those who aim to become an efficient business leader. First, make the right strategic choices based on goal setting. Invariably it’s about choosing the right businesses and personnel. And among the two, the latter should take priority. Second, conduct effective innovations. High-tech might be the buzz word, but business model innovations are just as important. Third, achieve good business performance and discover values. This is a tough battle that an excellent entrepreneur must deliver. Fourth, integrate resources. It’s noteworthy that many of the world’s large corporations are based on alliance and restructuring. Fifth, build a profit-sharing scheme between company and staff. Wealth should be better distributed by balancing efficiency and fairness.

Song Zhiping: Business First

Apr 20-2021   



Today’s entrepreneurs should mainly devote their energy to business decisions and focus on strategic choices and situational judgement, says Song Zhiping, NSD Professor of Practice, in a recent forum. That doesn’t mean management isn’t important; it’s just that business decisions should carry more weight, he explains. 

 

Entrepreneurs are advised to delegate management to subordinates. As they keep their eyes on business decisions, they are focusing on doing the right things, while the subordinates charged with management are focusing on doing things in the right way, says Prof. Song. He’s also the director of both China Enterprise Reform and Development Society and China Association for Public Companies.

 

His views on business and management are comprehensively laid out in his new book, Business First. The insights are based on his 40 years at the helm of various enterprises and keen observation of the nuanced connotations of management in Western and Chinese contexts. Whilst in the West ‘management’ encompasses both business decisions and management ones, in China it is widely associated with looking inward, perfecting processes, and improving efficiency. 

 

For many Chinese companies, management issues are not as challenging as before. The fact is that even if perfection is achieved in cost, quality and service, an enterprise is still likely to run into the ground because of bad business decisions, says Prof. Song. 

 

He offers some advice for those who aim to become an efficient business leader. First, make the right strategic choices based on goal setting. Invariably it’s about choosing the right businesses and personnel. And among the two, the latter should take priority. Second, conduct effective innovations. High-tech might be the buzz word, but business model innovations are just as important. Third, achieve good business performance and discover values. This is a tough battle that an excellent entrepreneur must deliver. Fourth, integrate resources. It’s noteworthy that many of the world’s large corporations are based on alliance and restructuring. Fifth, build a profit-sharing scheme between company and staff. Wealth should be better distributed by balancing efficiency and fairness.