China has historically been one of the great centres for innovation. Yet it suffered during a century of foreign domination, followed by three decades of Mao Zedong’s reign and another three decades of gradually opening by adopting the scaled copycat model. Now, China is finding its rightful place back as one of the premier business innovation hubs. A key example is that of DJI, which has taken up about seventy percent of the global commercial drone market. Add to this, market leadership innovations brought out by the likes of Baidu, Huawei and Tencent. To put things into context, between 2014 and 2016, China attracted venture capital fund worth US$ seventy-seven billion in comparison to just twelve billion for the previous two years. A study carried out by marketing research firm CB Insights, reveals that China is home to 58 unicorns in the last few years just below USA pegged at 108. Lagging way behind are the likes of India at 10, UK with 12, and Germany on a mere three. Unicorns here are start-ups with above a billion dollars’ valuation. Due to these various significant initiatives in the country, several summits are also taking place here such as the Fortune Global Forum and the Brainstorm Tech International.

Source:http://amp.timeinc.net/fortune/2017/11/21/china-innovation-dji?__twitter_impression=true

Uploaded Date:19 January 2018

Historically, doing well in business management has meant a combination of finance,economics and corporate strategy. However, this trend is set to change with robots and artificial intelligence being able to do so much of the routine, technical tasks. This will in fact, lead to an enormous erosion of jobs, far more than those lost through outsourcing to China or Mexico. One area however, where humans will always have the edge is in cognitive and emotional intelligence. This ability to excel at empathy will drive people towards the field pf psychology. Unfortunately, the present school system is not attuned to the demands of the smart machine age. An unlike the earlier Industrial Revolution where changes took place in the United Kingdom, the birthplace over a period of sixty to eighty years, people do not have the luxury of so much time in this digital age. Iterative learning and mindfulness are two other skills needed now.

Source:http://knowledge.wharton.upenn.edu/article/why-smart-machines-will-boost-emotional-intelligence/

Uploaded Date:24 November 2017

In earlier times, the personal and professional spheres for individuals would be completely divorced. That however has been bridged due to digitization and certain initiatives. Personal here means an individual’s holistic personal including his/her sense of humour, eccentricities, values and history, but does not include private which is about intimate details about relationships or family. The old mindset valued information as power, but now sharing is considered more powerful. Similarly, profit has been replaced by purpose as the ultimate goal. In turn control has given way to empowerment, hierarchy to a decentralized network, confidentiality to transparency and shareholder return as the ultimate value to employee and customer engagement. Experimentation is now more valued than planning, while influencers are used for digital marketing instead of traditional PR. The engagement is now more empathetic. Also, imperfection is now accepted so that employees can be more comfortable at workspaces and their authentic selves may come to the fore. This comfort could need physical support such as ping-pong or foosball tables, so be it.

Source:https://knowledge.insead.edu/blog/insead-blog/the-personal-professional-divide-is-over-7601

Uploaded Date:18 November 2017

Several industries are being disrupted by Virtual Reality (VR) but out of these, eight of them are most impacted already. Real Estate is one such as VR solutions are allowing potential customers to scan through the entire property from the comfort of their existing rooms. The Guru app is providing curated VR enabled zoo trips replete with informative insights on the species. The VR solution from Gap allows something similar in the fashion industry. The latest business innovation by Google Earth is to enable people to travel the world without actually moving an inch using VR headsets. Medicine, fitness and the automotive industry are similarly getting disrupted using VR. Even in the film and entertainment sphere, VR Is letting viewers get immersive experiences through apps like Within.

Source:https://www.entrepreneur.com/article/297495

Uploaded Date:28 July 2017