An entrepreneur is someone who is always on the lookout for problems that can be turned into opportunities and finds creative ways to leverage limited resources to reach their goals. In this course, learners will be introduced to the fundamental concepts, theories, and frameworks of entrepreneurship and learn how to apply them within the context of the world's largest market: China. Through cases, articles, and experiential learning, learners will gain expertise in how to identify and evaluate opportunities; interpret, analyze, and build financial models to enable high-growth ventures; practice living life as an entrepreneurial leader; and create a new product or service for the Chinese market.
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Module 3. Business Plan
In this module, you will learn how to produce targeted presentation for potential investors and write your own business plan.
Associate Director, EMBA Program, Associate Professor of Practice in Entrepreneurship, Project Director, Centre for Entrepreneurship Department of Decision Sciences and Managerial Economics
And what do you see the competition like … I think China has,
like, different regions they are all actually also competing with each other? (Yeah)
How does that work?
Well, unlike Hong Kong
or unlike the States, okay, and we have one, only one center,
okay. So, Hong Kong is only have eight million people and in
America, okay, the majority of investment only happen in the Silicon Valley, okay.
So, but in Chinese is different because it's booming.
The Pearl River Delta, they have one region, and then the
Changjiang River Delta, okay, Shanghai, Hangzhou, okay, they
have another … system, and then of course the Zhongguancun in
Beijing, there is … the first startup hub in China. So, they are
competing to each other. Okay, because of the competition, okay,
so they are or on the other hand they have to retain the talent
into their region. So, they invested a lot of money, okay, so
that to keep that their own ecosystem, okay, to run well.
So, because of this, the entrepreneurship, the mindset, everything,
the system changed from time to time in order to enhance the
competitiveness of their own. So because of the competition, the
environment are better, the system are better.
So, somehow in my mind, they are far better than
Hong Kong on the entrepreneurship ecosystem.
So, is a healthy dose of competitions that actually keep
them in check? They have to continue to improve themselves.
At this stage, definitely yes.
Because there were limited … certain kind of rules in China
because it's just only only thirty something years’ time,
you know, that they… some of the rules are still quite outdated,
so we need a new set of rules, in particularly on FinTech, okay.
So, why China so advanced on this because they have no burden.
No burden means there was no rule. (Right.) So, as a stage that
the government allow a FinTech company to try their best, okay.
But of course once a problem comes, okay, and the government
address to it and they enhance it and they close the loophole, okay.
So, there's … technically, it is a huge sandbox in China.
Okay, and and to us, we need a sandbox because we have a very
fragile traditional system have
to take good care of. So we need a sandbox.
But in China, there are not much. Okay.
Either the very huge government-owned, state-owned financial institution,
okay, and then they don't need a lot of, you know, nursery.
But on the general, new form of economy, okay, and then there
are not many regulation at the beginning.
Rules are not written yet and so there’s a lot more room to explore.
Exactly, exactly, exactly. So, one is started, so, they … we tested it out, okay,
we tried it out and then they close down the loophole, system
is formed and then now they are more advanced, you know, than the
other other other countries.
Is that the kind of a general ways of Chinese business, right?
The government, right, they let you run and then they watch closely.
If you hit anything like the limit or if you hit something that
may cause trouble, then they would start writing the rules.
This is how the game is playing now.
But, say, China itself, the new China itself is a huge startup.
So, they match well.
So, to do startup in China and the new government is a startup
itself, so it’s … they dance well together.
(Right.) Yeah.
But would you expect some chaos as a result because it’s…?
Come on, there is always a chaos, every 10 years in America, in the
Western world, there is chaos, you know, say, like the Brexit
is a chaos …certain kind of chaos now, okay.
(Yes.) So, chaos
is there, okay. And yeah, it's always there.
(When the dust settles ...)
Yeah, a lot of small manageable chaos is better than a
huge one, okay, that that we face in the past in the old system.
So, I would rather see more small problems and then they are
manageable problems, okay, then hide it up.
(I think I agree. Because if there is no chaos, there's no innovation.)
As Schumpeter said, you know, it is a disruptive … a creative destruction.
That's the way how economy, you know, evolve and innovate.
Prof. Dominic ChanAssociate Director, EMBA Program, Associate Professor of Practice in Entrepreneurship, Project Director, Centre for Entrepreneurship
