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Prof. Gong Yuzhen Advises Entrepreneurs to Stay Fully Optimistic and Moderately Pessimistic

Jun 04-2024   



In current era, entrepreneurs should stay optimistic while adding in a moderate amount of pessimism, said Prof. Gong Yuzhen in a media interview. He is NSD Professor of Management and the interview centered on strategy-making and development of corporate capabilities.

 

The world is undergoing a structural shift that comprises profound adjustment to globalization and the advent of a brand-new technological revolution, said Prof. Gong. As a result, things that were formed in the relatively stable strategic environment of the past, such as decision-making modes, management systems, and management philosophies, are being challenged. For entrepreneurs, the core task is to balance changes and constants, long term and short term, he stressed.

 

While entailing the need to fight for survival and seize current opportunities, long-termism lays emphasis on grasping major trends over the long run in order to achieve future development, said Prof. Gong. He advised entrepreneurs to study the trends and patterns behind historical cycles so that they can harness them to make strategies.

 

Given the headwinds in today’s era, he suggested that entrepreneurs keep optimism with a tinge of pessimism, which makes for a realistic, proactive approach to surviving adversities. When an industry tumbles into unfavorable situations, opportunity costs will come down, thus giving companies an optimal time to develop internal organizational competence and lay solid managerial groundworks. All these require patience and stamina, so entrepreneurs must remain unwavering in their conviction and confidence and transmit them to every member of the organization, said Prof. Gong.

 

When it comes to strategic-making, corporate helmsmen should stay open to inputs, but be decisive in taking decision on their own and having the guts to shoulder responsibilities. For execution, entrepreneurs must identify the problems to solve, craft an execution plan, select the right implementation team, and equip the team with sufficient resources. They must clearly articulate the visions and missions to galvanize the staff to work with all their might, said Prof. Gong.

 

He also shed light on how to turn an entrepreneur’s individual will and capabilities into organizational ones. To start with, the entrepreneur should have a solid knowledge structure and philosophies. He should then weld them with the experiences of first-line staff, as well as the problems they identify and the solutions they develop. In this way, the entrepreneur is well positioned to develop a methodology that emanates from the masses and is to be used by the masses. All along, a feedback loop should be put in place to allow for adjustment and optimization based on trials and errors. To turn personal will into organizational will, Prof. Gong said that entrepreneurs must show empathy to staff and resonate with them emotionally, which will form the basis for achieving consensus and common actions.

Prof. Gong Yuzhen Advises Entrepreneurs to Stay Fully Optimistic and Moderately Pessimistic

Jun 04-2024   



In current era, entrepreneurs should stay optimistic while adding in a moderate amount of pessimism, said Prof. Gong Yuzhen in a media interview. He is NSD Professor of Management and the interview centered on strategy-making and development of corporate capabilities.

 

The world is undergoing a structural shift that comprises profound adjustment to globalization and the advent of a brand-new technological revolution, said Prof. Gong. As a result, things that were formed in the relatively stable strategic environment of the past, such as decision-making modes, management systems, and management philosophies, are being challenged. For entrepreneurs, the core task is to balance changes and constants, long term and short term, he stressed.

 

While entailing the need to fight for survival and seize current opportunities, long-termism lays emphasis on grasping major trends over the long run in order to achieve future development, said Prof. Gong. He advised entrepreneurs to study the trends and patterns behind historical cycles so that they can harness them to make strategies.

 

Given the headwinds in today’s era, he suggested that entrepreneurs keep optimism with a tinge of pessimism, which makes for a realistic, proactive approach to surviving adversities. When an industry tumbles into unfavorable situations, opportunity costs will come down, thus giving companies an optimal time to develop internal organizational competence and lay solid managerial groundworks. All these require patience and stamina, so entrepreneurs must remain unwavering in their conviction and confidence and transmit them to every member of the organization, said Prof. Gong.

 

When it comes to strategic-making, corporate helmsmen should stay open to inputs, but be decisive in taking decision on their own and having the guts to shoulder responsibilities. For execution, entrepreneurs must identify the problems to solve, craft an execution plan, select the right implementation team, and equip the team with sufficient resources. They must clearly articulate the visions and missions to galvanize the staff to work with all their might, said Prof. Gong.

 

He also shed light on how to turn an entrepreneur’s individual will and capabilities into organizational ones. To start with, the entrepreneur should have a solid knowledge structure and philosophies. He should then weld them with the experiences of first-line staff, as well as the problems they identify and the solutions they develop. In this way, the entrepreneur is well positioned to develop a methodology that emanates from the masses and is to be used by the masses. All along, a feedback loop should be put in place to allow for adjustment and optimization based on trials and errors. To turn personal will into organizational will, Prof. Gong said that entrepreneurs must show empathy to staff and resonate with them emotionally, which will form the basis for achieving consensus and common actions.