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Date: November 2, 2011 (Wednesday)
Time : 2:30pm - 4:00pm,
Language : English
Venue : Room 617, 6/F Meng Wah Complex, The University of Hong Kong
Presented By : Professor Stephen In-Ho Kim, Professor Emeritus, Hanyang University
Seminar title : Core Competence: Starting Point to Trigger Dynamic Management based on Firm Power Theory
Abstract:

 

Starting from core competence, this paper firstly develops firm power to explain value creation in a general manner with a rationale borrowed from physics. Firm power at a time can be expressed as firm size with product fit (prior indicator of revenue) and process fit (prior indicator of cost) determined as a result of innovation over time to meet needs with willingness to pay (WTP) based on core competence at starting time. Secondly this paper, based on firm power, dares design dynamic management as holism/synthesis/dynamism-based paradigm to deal with innovation adapting to needs evolution for sustainable growth, where/when power shifts from firms to customers and customer needs evolve so frequently since Internet revolution

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