Entrepreneurship Is The Main Approach To Transforming The Business Structure In China

摘要: The progress of technologies has lowered the threshold for entrepreneurship, which is without a doubt a new wave of business opportunities for ordinary people. Lots of new ideas and new talents are entering the business world like fresh blood pumping into the business system, providing society with traction to generate new rules befitted current tendency and future development. The emergence of new rules therefore won’t be based on bloodshed and destruction in the world of business.

(Chinese Version)

We still encourage entrepreneurship in China since it’s the main approach to transform the business structure here.

1

My friend Zuo Zhijian showed me his article Entrepreneurship Is The Last Social Ladder In China last week.

My first reaction after reading the article was like: I have to write something too in response to that.

He asked me to wait for a bit before starting with my own piece, saying that he wanted the article to be posted on Tencent’s Dajia first. In the end, Dajia posted his article indeed, without even changing the title.

I wanted to write an article to response for the fact that it reminded me a piece I wrote five years ago: The post-80s generation: A tough generation

2

The entry point of that piece I wrote in 2010 was a conversation with my classmates at college.

That classmate of mine was really confused by Haizao’s decision, a character in the TV series Wohu who became a mistress of the mayor in order to get money to buy an apartment. In her opinion, Haizao could have achieved all her dreams through personal efforts and hard work. As a matter of fact, this classmate of mine had served in a restaurant and helped carry furniture around for exhibitions before, and later she became the president of an international enterprise’s branch in China.

The obstacles that post-70s and post-80s had faced, or, are still facing, are completely different. In that opinion piece I pointed out a few common difficulties that the post-80s generation has to face in general.

At the end of the article I wrote this: Profound changes of a civilization are always brought by the generations that face the most difficulties and struggles.

To be honest, I didn’t really want to understand how these changes took place five years ago. I used to believe that fate would impose the responsibility on able ones.

But then I started to understand. I got inspired a lot by Zuo’s article.

Business is what really matters.

3

I have always held a neutral opinion about businessmen, or, entrepreneurs.

Every successful businessman has more or less been in some gray areas. During my career path as a writer I have never used the word “great” to describe any businessman or company.

However, I believe business is great.

Just like no matter how many minor aspects you add up you will never get the whole picture, groups of not-so-great businessmen together they have built a great business.

Business allocates resources in an optimal way. Even a good market economy needs regulation and rules. Meanwhile, a good market economy also needs to form rules.

The history of the reform and opening up policy is a political history, as well as a business history. One can argue that China’s success in recent time is hugely attributed to the power of business.

The spirit of business is making comprises, and the same thing applies to the maturing of civilization.

4

However, nothing’s perfect, and business is no exception.

The biggest motivation that drives business forward is humans’ insatiable greed. Pure free business without any restrictions will result in monopolization, which will generate obstacles for innovations.

In the course of development of business for the past century, giants with a hierarchy system are not uncommon in the business world. China is the same in this way, even though every country is unique. In China, state-owned enterprises have even more complicated and stricter hierarchy system.

This is the upward passage that Zuo mentioned in his article.

It’s for sure that many people prefer a stable life that they could manage to keep, and therefore they stay that way and don’t really care for fighting for promotion.

But there are always people that are unsatisfied with what they have right now and long for so much more.

If a society loses the upward passage that allows people from difference class to go higher, then horrible consequences will follow suit.

The business world works that same way. It needs fresh blood to function and develop.

In some way, the downfall of giant companies is not necessarily a bad thing.

5

The Internet economy has been developing for two decades and it has nurtured giants like Baidu, Alibaba, and Tencent in China. And right now they are even challenging major traditional companies in different sectors. In some specific sectors, these new-born companies have already become the new winners.

Some argue that BAT, short for Baidu, Alibaba and Tencent, has dominated the Chinese market. And if this perception is indeed true, then the whole business world and society in China will start structuring.

Song Wei from Caijing wrote a long article titled BAT’s Offline War, in which he expressed his disagreement on this idea.

Zuo Zhijian also mentioned newly-emerged prominent companies such as Didi, Meituan, and TouTiao etc. Although these startups have more or less received investment from BAT, BAT is not in complete control of them.

Even the war between Didi and Kuaidi was attributed mainly to Tencent and Alibaba who wanted to guide their uses to form mobile payment habit. However, today’s Didi apparently has a tendency of independency.

There’s a fundamental drive here: the rise of the mobile Internet. The mobile Internet started to become the mainstream in 2008 and later enabled Internet companies such as BAT to cover many aspects of offline life services and consuming sectors.

Technologies will develop in a faster speed. In the book Race Against the Machine, the author believed that we were near the end of the match and the future development of technologies is beyond out imagination.

Baidu, Alibaba and Tencent have dominated the Internet world in China. But the truth is there are still chances for startups. And the BAT hasn’t control the future development of technologies yet.

6

Entrepreneurship nurtures startups, most of which would be eliminated by the market as the competition proceeds. However, there’re still chances for them to become giants.

The progress of technologies has lowered the threshold for entrepreneurship, which is without a doubt a new wave of business opportunities for ordinary people. Lots of new ideas and new talents are entering the business world like fresh blood pumping into the business system, providing society with traction to generate new rules befitted current tendency and future development. The emergence of new rules therefore won’t be based on bloodshed and destruction in the world of business.

According to Zuo, entrepreneurship is the last entry of the upward channel toward higher class and social status. Although I disagree with the “only” part, he does have a point.

From my perspective, entrepreneurship is an important approach to transform the business structure in China, which will eventually bring forth social changes.

Profound changes of a civilization are always brought by the generations that face the most difficulties and struggles.

But what’s the way to achieve this transformation?

Entrepreneurship is the answer.

[The article is published and edited with authorization from the author @Wei Wuhui, please note source and hyperlink when reproduce.]

Translated by Garrett Lee (Senior Translator at ECHO), working for TMTpost.

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