Hard Times Call for Innovative Entrepreneurship | CHINA US Focus

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Hard Times Call for Innovative Entrepreneurship

By Zheng Yangpeng
June 13, 2012
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Editor's Note: China Daily business reporter Zheng Yangpeng recently took a tour to find out how once export-oriented companies are coping with the consequences of the global economic crisis and, if possible, using them to change themselves into more competitive businesses. He visited Suzhou in Jiangsu, a province in the Yangtze River Delta, and Guangzhou and Dongguan, two cities in the Pearl River Delta in Guangdong province. The following is what he found out.

Investors know that Warren Buffett once said: "Only when the tide goes out do you discover who's been swimming naked."

All Chinese learn in school that Confucius said: "Only when the cold season comes, then we know the pine tree and the cypress are the last to lose their leaves."

So in today's business world, with its rapidly changing tides and seasons, how can managers learn to swim while still putting their swimming costumes on? Or, how can companies transform themselves from ordinary ones, like trees that become dry and bald in the winter, into ones that can continue to grow in bad times, like evergreens?

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