Management in the Digital Age: Will China Surpass Silicon Valley? (SpringerBriefs in Business)

In this Springer Brief, the author introduces how Chinese firms are successfully using their own variants of the 'Silicon Valley Approach' to management. The author begins the discussion by deliberating on the extent to which management models need to be re-invented. A fundamentally new approach is then introduced, which already exists and is proving itself in practice at some of Silicon Valley ́s most dynamic firms. The author finds that the Chinese management models, in comparison, may be even more advanced. If true, this could have profound implications for managers everywhere. The author acknowledges that no management model fails (or succeeds) every time. Skeptics can point to bigbureaucratic firms that continue to prosper, as well as to radical innovators that have gone under. This book brings to light the need that has emerged for a model that will give companies their best chances of thriving amid the VUCA whirlwind. A combination of evidence and informed opinion indicates the old management model has run its course. Foreword 6 Preface 8 Acknowledgements 11 Contents 12 1 Management at a Turning Point: What Will the Future Look like? 15 Abstract 15 Silicon Valley and China 16 Looking Ahead ... 17 Chapter 2—A New Model for a New World: Why It’s Needed and What It Consists of 17 Chapter 3—Silicon Valley: A Cradle of Management Innovation 17 Chapter 4—Management Characteristics of Top Innovators in Silicon Valley 17 Chapter 5—China: An Innovation Country? 18 Chapter 6—China’s Entrepreneurial Companies—And What We Can Learn from Them 18 Chapter 7—China Versus Silicon Valley: Comparison and Implications 18 References 19 2 A New Model for a New World: Why It’s Needed and What It Consists of 20 Abstract 20 The Changing Nature of Change (and What It Means for Management) 23 ‘Dynamic Capabilities’—The Key to Managing in a Dynamic World 24 Core Pillars of Dynamic Capabilities 25 To Sum Up 26 References 27 3 Silicon Valley: A Cradle of Management Innovation 28 Abstract 28 The Nature of the Industries (And How Technical and Management Innovation Go Together) 29 Norms and Values of the Region 30 From Past to Present: A New Model Takes Shape 32 References 34 4 Management Characteristics of Top Innovators in Silicon Valley 35 Abstract 35 ‘Big’ Visions and Missions 36 Visionary, Entrepreneurial Top Leadership 37 A Focus on People 38 Entrepreneurial 38 Adaptable 39 Passionate 40 Constantly Questioning the Status Quo 40 Collaborative 41 Some Myths Dispelled 41 Culture: The Key Differentiator 42 1—A Commitment to Being Unconventional 43 2—A Recognition of Constant Change and the Need to Be Flexible 44 3—Commitment to Speed 44 4—Hiring Is the Most Important Thing You Can Do 45 5—A Focus on Product Excellence 45 6—Data-Driven Decision Making and Quick Learning Cycles 46 7—A Flat Organization with Minimal Bureaucracy 46 8—Openness and Transparency 47 9—Leaders, not Managers 47 10—Building an Ecosystem 47 Leaders as Coaches and Facilitators 48 Key Organizational Features: Flexible, Ambidextrous, and Open 49 Coordination Through ‘Soft’ Control and ‘Key’ Results 50 High Use of Automated Information Processes 51 The Silicon Valley Model Versus the Traditional Model 52 References 54 5 China: An Innovation Country? 56 Abstract 56 Definition of Innovation 57 Chinese Reforms and New Government Policies 58 China’s Rapid Learning Curve to Innovation 60 The Build-up of Cross-Sector Platforms for Innovation 62 Companies’ Own Research and Development 63 Domestic Competition, Market Scale, and Access to Capital 64 Domestic Competition 64 Market Scale 65 Access to Capital 65 Human-Centric Factors: Impediments or Drivers? 66 Chinese Culture and Its Effect on Innovation 66 Talents and Education System 71 To Sum Up 74 References 75 6 China’s Entrepreneurial Companies—And What We Can Learn from Them 78 Abstract 78 Entrepreneurship in China: Late to Develop, but Explosive and Intensely Competitive 79 The Chinese Case Companies: A Journey from Sledgehammers to Smartphones 82 Haier: A Chinese Precedent-Setter 82 Alibaba: E-Commerce and Beyond 83 Baidu: Born in Search, and Searching Further 85 Tencent: A ‘Mobile’ Company in Many Senses 86 Xiaomi: Phones for ‘Fans’ 88 A New Chinese Management Model? 89 Leadership—Who’s in Charge, and How Do They Lead? 89 Culture: Not like the Old Days 92 People—The Essential Ingredients 94 Organization—Open, Structured but Flexible, Ambidextrous 96 General Conclusions 99 References 99 7 China Versus Silicon Valley: Comparison and Implications 104 Abstract 104 China as an Innovation Country 104 The Silicon Valley Model 106 Main Characteristics of Our Chinese Case Companies 107 Big Visions and Missions 108 Visionary, Entrepreneurial Top Leadership 109 Focus on People 112 Culture and Values Emphasized 113 Flexible, Organic, Open, and Ambidextrous Organizations 114 Coordination 115 Automated Information Processes 116 The Silicon Valley Model Versus the Chinese Model 117 Management and Policy Implications 119 To Sum Up 121 A Note on Future Research 123 References 123 In this Springer Brief, the author introduces how Chinese firms are successfully using their own variants of the 'Silicon Valley Approach' to management. The author begins the discussion by deliberating on the extent to which management models need to be re-invented. A fundamentally new approach is then introduced, which already exists and is proving itself in practice at some of Silicon Valley ́s most dynamic firms. The author finds that the Chinese management models, in comparison, may be even more advanced. If true, this could have profound implications for managers everywhere. The author acknowledges that no management model fails (or succeeds) every time. Skeptics can point to big bureaucratic firms that continue to prosper, as well as to radical innovators that have gone under. This book brings to light the need that has emerged for a model that will give companies their best chances of thriving amid the VUCA whirlwind. A comb ination of evidence and informed opinion indicates the old management model has run its course. In this Springer Brief, the author introduces how Chinese firms are successfully using their own variants of the 'Silicon Valley Approach' to management. The author begins the discussion by deliberating on the extent to which management models need to be re-invented. A fundamentally new approach is then introduced, which already exists and is proving itself in practice at some of Silicon Valleýs most dynamic firms. The author finds that the Chinese management models, in comparison, may be even more advanced. If true, this could have profound implications for managers everywhere. The author acknowledges that no management model fails (or succeeds) every time. Skeptics can point to big bureaucratic firms that continue to prosper, as well as to radical innovators that have gone under. This book brings to light the need that has emerged for a model that will give companies their best chances of thriving amid the VUCA whirlwind. A comb ination of evidence and informed opinion indicates the old management model has run its course Front Matter ....Pages i-xv Management at a Turning Point: What Will the Future Look like? (Annika Steiber)....Pages 1-5 A New Model for a New World: Why It’s Needed and What It Consists of (Annika Steiber)....Pages 7-14 Silicon Valley: A Cradle of Management Innovation (Annika Steiber)....Pages 15-21 Management Characteristics of Top Innovators in Silicon Valley (Annika Steiber)....Pages 23-43 China: An Innovation Country? (Annika Steiber)....Pages 45-66 China’s Entrepreneurial Companies—And What We Can Learn from Them (Annika Steiber)....Pages 67-92 China Versus Silicon Valley: Comparison and Implications (Annika Steiber)....Pages 93-113