Re: Why Entrepreneurial Management is key to Innovation

Some thoughts from China
Innovation along 2 dimensions: technology and application. The latter
prevalent in china.

Vcs flock to liquidity and high PE ratios.
Entrepreneurs flock to where there is a large market and skilled engineers.

Talk to VCs first before investing.

The consumer business as a growth sector in china

Lastly, wealth cannot buy Health + How many people loves you

On 8/16/09, Yinglan Tan <yinglantan@stanfordalumni.org> wrote:
> *Senodia*
>
> - application of MEMs to iphone (gyroscope)
>
> SENODIA is a fabless MEMS based chip development company which targets on
> the over 3 billion US dollars MEMS gyroscope and IMU global market. Our
> market focus is the new generation of MEMS integrated gyroscope and IMU
> chip
> used for Consumer Electronics, GPS and Automobiles. Our products line
> includes Low-end and Mid-end MEMS gyroscope and IMU chips. Our projected
> Time-To-Market is In 2009, to produce the world thinnest and smallest
> Gyroscope chip (4x4x1 mm) and in 2012, to have over 150 million US dollars
> sales.
>
> *A tale of 2 car rental companies.*
>
> The company was founded in 1946 with three cars at Willow Run
> Airport<http://en.wikipedia.org/wiki/Willow_Run_Airport>
> [3]<http://en.wikipedia.org/wiki/Avis_Rent_a_Car_System#cite_note-Superbrands-2>,
> Detroit <http://en.wikipedia.org/wiki/Detroit> by Warren
> Avis<http://en.wikipedia.org/wiki/Warren_Avis>(August
> 4 <http://en.wikipedia.org/wiki/August_4>,
> 1915<http://en.wikipedia.org/wiki/1915>– April
> 24 <http://en.wikipedia.org/wiki/April_24>,
> 2007<http://en.wikipedia.org/wiki/2007>
> [2]<http://en.wikipedia.org/wiki/Avis_Rent_a_Car_System#cite_note-MorningEdition-1>).
> Avis has been owned by a number of other companies over the years, along
> with several periods of being a public company. These include:
>
> - 1962 - Investment group Lazard
> Freres<http://en.wikipedia.org/wiki/Lazard>
> - 1965 - ITT Corporation <http://en.wikipedia.org/wiki/ITT_Corporation>
> - 1977 - Norton Simon <http://en.wikipedia.org/wiki/Norton_Simon>
> - 1983 - Esmark
> - 1984 - Beatrice <http://en.wikipedia.org/wiki/Beatrice_Foods>
> - 1986 - Investment firm Wesray Capital
> Corporation<http://en.wikipedia.org/wiki/Wesray_Capital_Corporation>
> - 1996 - HFS Corporation <http://en.wikipedia.org/wiki/Cendant>
> - 2001 - Cendant <http://en.wikipedia.org/wiki/Cendant>
> - 2006 - Avis Budget
> Group<http://en.wikipedia.org/wiki/Avis_Budget_Group>
>
>
> The worst board meetings are when the company had been LBO and "how do we
> make our next payment to avoid being sent into receivership"
>
> Contrast with EHi of China.
> Young people doing products? How can I delight my customers?
>
> 3M vs large enterprises today.
>
> 3M - contrast that with the modern enterprise of today.
>
> Wu Jiang Guang - It is easy to find people who did things according to a
> template and what has been done in the past. The tougher is to find people
> who could innovate.
>
> - In a downturn, consolidate
> - franchise the easy shops, do the shops which were tougher to operate
> - took over other brands (in stronger geographies)
> - membership - the more you buy, the more discounts you get.
> - Internet
>
> Douglas Foo of Sakae Sushi
> - Vitamin E
> - lab-testing
> - conveyor belt to roll out watches / sushi belt in Zouk.
>
> Alex Ferguson
> - some people tell me he is a good coach
> - I say he is a good CEO, He has been with Manchester United since 1986,
> - been through different environment and adversity.
> - different players, teams 20 years ago all different.
> - So what is Cristino Ronaldo leaves, he picks the next batches
>