At our volunteer meeting that took place in November of 2017, we were pleased to invite the CEO of IdeaX, Sheng-Lun Hung, to speak with the volunteers. His speech was titled “From Value Innovation to Business Model Innovation”. We asked the volunteers to write a short report on the speech they heard, and here is the essay that won first prize:
Name: Pei-Chi Lin, First-year accounting student
Speech Topic: From Value Innovation to Business Model Innovation
Speaker: Sheng-Lun Hung
The most memorable quote from the speech:
A product has to create its own value.
Value and price are closely related. We often say that something is not worth the price, which means we are contemplating whether the value and price of an item are equal. If a seller wishes to raise the price of his product and reap more profits, the most important thing is to increase the value of the product; if only the price is raised but not the value, customers will not be interested and the seller will lose money. Even as workers in the job market, we need to increase the value we can create for others, or we will be replaced easily in the future. The value of a product, quite simply, is determined by the customer. Advertising is the most important and the easiest way to leave the impression of the product’s value on customers. A lot of thought has to be put in advertising so that it resonates with the viewer, leaves the viewer with a deep impression, and even convinces the viewer to buy the product. Some advertisements rely too much on famous actors or celebrities and do not properly introduce the product; when customers think of the advertisement, they can only recall the actors or celebrities in it, but remember nothing of the actual product that is advertised, which of course is not the original intent of the advertiser. As a manager in this era of constant change, it is of great importance to have a constantly innovating mindset; sticking to existing ideas and ways of doing things and you will be left behind. I have listened to many speeches and I discovered something that is common to all successful businessman: they all notice things that is easily ignored by everyone else. We all know there are people who wear blue clothes, but we do not keep track of the number of people we meet who wear blue clothes. I walk to the College of Management for my classes, but I do not know how many steps it takes to get to the College. These small details offer successful businessmen insight into the society, and it is because of this attention to detail that these businessmen have become successful.
The last thing I want to point out is a video that was shown during the speech, about a story we all know since we were little: a group of people with long chopsticks who could not eat their meals; our teachers and parents always use this story to teach us the importance of working as a team. Now hearing this story again as an adult, it reminds us that no matter how successful you have become, like the chairman of a company, you cannot forget the contributions of the workers who helped you attain this position. We are all equal; no success comes without cooperation among people. No matter where you end up, never forget to think from the perspective of others.