For any global business, there are few markets more critical than China. For anyone interested in business in China, there are few better events than the Hay Group International Conference held in Shanghai last November. The theme of the conference was “Leading Transformation” and it featured luminary speakers like Song Lin (Chairman, China Resources Company), Zhou Yun Jie (Vice Chairman, Haier), and Yu Liang (President, China Vanke). Hay Group has consulted closely with many leading companies in both the East and the West. HQ Asia sat down with Stephen Kaye – President and CEO of the Hay Group – to distil his insights on how the best companies in the world drive change and lead transformation.
Change before you need to
In contrast, Kaye argues that the best companies drive transformation – even at the heights of their success. As an example, he pointed how Netflix bravely changed their business model after overtaking Blockbuster, who was their main competitor in the space of DVD rentals at that time. Rather than rest on their laurels, they anticipated change and helped pioneer the internet video streaming industry.