Plan altruistic and mutually beneficial strategies and integrate industrial innovation across fields
This article was originally published in “Economic Daily”
In 2020, U.S. President Trump’s infection with COVID-19 triggered shocks in global financial markets, causing U.S. stocks to plummet. This incident has intensified investors’ concerns about the election and the epidemic, and also made the public pessimistic about economic recovery.
However, as Dickens wrote at the beginning of his novel “A Tale of Two Cities”: “It was the best of times, it was the worst of times…” Even in difficult times, we should strive for breakthroughs.
Recalling the lecture I attended at the National Taiwan University of Technology EMS Alumni Association when I returned to my alma mater, “Taiwan’s Godfather of the Distribution Industry” [Xu Chongren] (https://zh.m.wikipedia.org/zh-tw/%E5%BE%90%E9%87%8D%E4%BB%81) shared his cross-sector innovation experience and trend observations with the theme of “Cross-field Innovation”, which made me particularly impressed.
After Xu Chongren left his job at Uni-President Supermarket and Quanlian Welfare Center, he founded Zhucheng Chuangyan and Chongren School. He encouraged everyone to have the courage to take an altruistic path in this era of uncertainty.
In this closed-door lecture, he shared his story of studying in Japan in 1972 and meeting 7-ELEVEn. Later, he introduced convenience stores to Taiwan in 1979 and promoted Uni-President Supermarket along the way.
Director Xu pointed out that if the business wants to operate sustainably, the first priority is to pursue a stable business model, and the evolution of the business model actually comes from the needs of customers. With the iteration of information technology and the continuous upgrading of customer needs, industry players also need to keep pace with the times.
Taking the distribution industry as an example, the upgrade from a neighborhood grocery store to a 24-hour convenience store, and now a community service center, actually closely follows the needs of customers. Business operators who want to be people’s good neighbors and good friends must listen carefully to customers’ needs; in addition to making shopping convenient, they must also become a leader in life style.
In the lecture, Director Xu also mentioned the second circulation revolution launched in 2014. In the past, he had proposed the vision of “exploiting energy to create social happiness and make customers more satisfied”; now, he also advocates gathering the power of small farmers through small-scale experiments to improve the level and competitiveness of the agricultural industry!
Even in Taiwan, a small and densely populated country, many markets are not saturated. Director Xu took “AEON MALL Sakai Kita Hanada Store” located in Sakai City, Osaka, Japan as an example, and encouraged everyone to be brave enough to seek cross-industry cooperation. This store space, which sells fresh ingredients, has become the most youthful fresh food supermarket since its opening on March 20, 2018. It focuses on local ingredients and direct delivery from the origin, emphasizing the interaction between producers and consumers.
Director Xu pointed out that innovation does not come out of thin air, but needs to be integrated across fields. If you want to build a successful business model, you must learn from benchmark companies and find ways to create differences and improve competitive advantages.
Finally, Director Xu did not forget to remind everyone that in addition to meeting customer needs, bosses and senior managers should also create a safe workplace for employees, thereby forming a friendly cycle that is altruistic and mutually beneficial.
Photo by bertholdbrodersen on pixabay
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