Schedule Day 2 - Friday, June 13th, 2014printer friendly version

* Dress Code: Business Casual for Forum, Festive attire for Friday and Saturday dinner.

Time & LocationEvent
8:00 AM - 9:00 AMBallroom FoyerWelcome Coffee
8:00 AM - 9:00 AMSalon 4Wharton Women`s Breakfast

Join us for this facilitated networking breakfast session where you will meet other women from Wharton. This is an opportunity to cultivate a network of peers. It is also a chance to discuss the challenges and opportunities that women encounter in the business world. Learn from the wisdom of other alumnae, while making new friends and professional contacts.

 Monica McGrath

Vice Dean, Aresty Institute of Executive Education, Adjunct Assistant Professor of Management, The Wharton School

9:00 AM - 10:15 AMBallroomOpening Plenary
 

Welcome Remarks

Vincent Price

Provost, University of Pennsylvania

 

Welcome from the Chairmen

 Feng Deng, WG'05

Founder and General Partner, Northern Light Venture Capital

 Robert Zou, WG'94

Founder and Chief Executive Officer, Arrail Dental

 

Keynote Panel - Technological Change and the Threats and Opportunities in Higher Education

Panel Description

Technology for on-line educational experiences presents threats and opportunities for Wharton and other institutions of higher education. In this panel, three experts from three very different contexts come together to explore the implications of emerging educational technologies. Will these technologies improve the experience of the learner? Will they strengthen the positions of elite institutions? Or, do they threaten incumbents and provide an opportunity for new entrants?

 

Moderator:

Karl Ulrich

CIBC Endowed Professor, Professor of Operations and Information Management, Vice Dean of Innovation, The Wharton School, Professor of Mechanical Engineering and Applied Mechanics, School of Engineering and Applied Science

 

Panelists:

Alan Filreis

Kelly Family Professor of English, Director, Center for Programs in Contemporary Writing, Faculty Director, Kelly Writers House

 Michael Yu

Founder, Chairman, and Chief Executive Officer, New Oriental Education and Technology Group

10:15 AM - 10:45 AMBallroom FoyerCoffee Break
10:45 AM - 12:15 PMLifelong Learning Master Classes led by Wharton Faculty
Gallery 1 

Growing and Retaining Your Talent Pool

Peter Cappelli

George W. Taylor Professor of Management, Director, Center for Human Resources, The Wharton School

 Alexandra Hendrickson, WG'79

Partner, Odgers Berndtson Executive Search

Salon 1/2 

International Labor Standards and Global Supply Chains

Class DescriptionJanice Bellace, CW'71, L'74

Samuel A. Blank Professor of Legal Studies and Business Ethics, Professor of Management, The Wharton School, Director of the Huntsman Program in International Studies and Business, University of Pennsylvania

This session will identify the relevant international labor standards and discuss what these standards mandate, in light of recent UN and ILO actions. It will then explore how non-Asian companies are responding to pressure from workers` rights groups, e.g., through codes of conduct, contractual stipulations with the vendor companies, audits, etc. It will also consider how Asian companies confront possible de-listing as a supplier if they do not meet standards set by a foreign company, how different buyer companies lay down different standards, and consider how specific standards may be challenging in light of production schedules. Case studies based on recent incidents will be analyzed.

Ballroom 2/3 

Customer Portfolio Management in the Age of Big Data

Class DescriptionZ. John Zhang

Murrel J. Ades Professor, Professor of Marketing, Director, Penn Wharton China Center, The Wharton School

Advances in information and digital technologies over the past two decades have not only made it possible for firms to identify, track, target and engage customers at the individual level, but also to do so at increasingly lower costs. The advent of Big Data has further led to an exponential increase in the amount of information firms can gather and process about individual customers. Through online, mobile and other technologies, firms are able to constantly capture interactions with customers at multiple touch points, leading to a detailed picture about their behavior and preferences.

We show that, paradoxically, in the age of big data where individual customers have become more visible, firms should in fact pay more attention to managing customers collectively as a portfolio rather than in isolation. In other words, firms must not miss the forest for the trees. More specifically, we show that there is an optimal customer portfolio that includes not only high value customers but also low value ones. The existence of such an optimal customer portfolio further dictates that, contrary to the traditional CRM advice, having only high value customers need not necessarily be beneficial to a firm and in some situations it can be counterproductive to convert less profitable customers to more profitable ones.

Ballroom 1 

Outsourcing Innovation: Trends, Opportunities, Challenges and Management of Outside Capabilities

Class DescriptionSaikat Chaudhuri, ENG'97, W'97

Adjunct Associate Professor of Management, Executive Director of the Mack Institute for Innovation Management, The Wharton School

In this interactive session, we will explore the trends, opportunities, challenges, and management of outsourcing, as it moves into increasingly sophisticated high-end activities like R&D and product development today. We will cover what we know from existing research, discuss cases from the aerospace, telecom, and high-tech sectors, and highlight ongoing research findings with implications for the creation of globally distributed virtual firms. In doing so, we will examine new and different contractual and organizational arrangements being experimented with, and identify lessons learned. The master class is designed to provide exposure to the latest thinking in this rapidly expanding externally-sourced strategy to drive innovation-based growth, to help develop conceptual frameworks and best practices in the evolving modern company.

Salon 4 

The Impact and Implications of China`s New Healthcare Reforms on their Healthcare System

Class DescriptionLawton R. Burns

James Joo-Jin Kim Professor of Health Care Management, Department Chair, The Wharton School

A discussion of the impact of expanding insurance coverage on rising healthcare costs, the impact on the country`s emphasis of biotechnology investments, and efforts to reform its public hospital system.

Gallery 2 

Innovative Companies and the Chinese Innovation Plan: A Look at Goodbaby, Yihaodian, and Daphne

Class DescriptionEdwin Keh

Lecturer, The Wharton School

This session discusses three highly innovative companies that may be bell weathers for where China is heading through China`s nationally advanced innovation plan.

Goodbaby was founded in 1985 by middle school teacher Song Zhenghuan, who invented the `push-and-rock,` a conventional stroller that can become a rocker by folding up the wheels. From this modest beginning, Goodbaby has grown to be the largest stroller and car seat manufacturer in the world, based on the core value of innovation.

Yihaodian is a Chinese e-tailer founded in 2008 by Junling Lui and Gang Yu. Both of them were born and raised in China and attended college there, but then pursued graduate education in the West -- Junling in Australia and Gang in the U.S., earning a Ph.D. in Operations and Information Management at the Wharton School. A study conducted in 2013 by Deloitte rated Yihaodian as the fastest growing tech company in Asia. Their growth is heavily driven by innovation, one of their four core values and their innovation center has created countless `killer app` ideas.

Daphne is a $1 billion Chinese shoe retailer based in Shanghai. To support product development, Daphne has built, on the site of one of its first Chinese factories, an R&D center where designers mock up product ideas and new store layouts and have seasonal fashion shows to introduce new lines. Product development and design is a hybrid of the American model of shopping for inspriration overseas and working with local designers. A designer, hired from the U.S., oversees the effort. Daphne integrates this design process with its China market knowledge and Taiwan manufacturing knowhow. The result is a well-built, competitively priced fashionable product that relects both western fashion and regional popular culture.

Are these companies trendsetters or outliers? We conclude with a discussion of powerful economic forces in China that will cause other companies to follow the same path, but also risks that might jeopardize China`s innovation pivot.

12:15 PM - 1:45 PMXiu Bar and Ballroom FoyerStanding Networking Lunch
1:45 PM - 3:15 PMConcurrent Panel Discussions
Ballroom 1 

The Tao of China: How China`s Top Business Leaders are Revolutionizing Management

Panel Discussion Description

Chinese business leaders are presiding over some of the world`s fastest growing enterprises, and their growth is at the heart of China`s torrid expansion. They draw on a host of leadership principles from strategic thinking to decisive decision making that company executives everywhere embrace, but they also bring a distinctive set of principles that we believe have come to constitute a new "China Way" for leading the enterprise.

Peter Cappelli, Harbir Singh, and Michael Useem of the Wharton School and Neng Liang of the China Europe International Business School are embarking on a new study of the unique elements in the strategy, human resources practices, governance and leadership of major Chinese companies. They are interviewing those who lead the nation`s largest corporations and gathering information from a host of other sources.

Fortune magazine recently wrote: It is "just a matter of time befor a `China Way` emerges. Chinese companies now have a level of self-assurance and success on the world stage that is allowing them to experiment with their own ways of working, and they are well placed to bring together the best of the American model with the best of their own unique cultural heritage." This project is intended to characterize and appreciate the China Way that we believe has now emerged.

 

Moderator:

Michael Useem

William and Jacalyn Egan Professor of Management, Editor, Wharton Leadership Digest, Director, Center for Leadership and Change Management, The Wharton School

 

Panelists:

Harbir Singh

Mack Professor of Management, Co-Director, Mack Institute for Innovation Management, Vice Dean, Global Initiatives, The Wharton School

 Peter Cappelli

George W. Taylor Professor of Management, Director, Center for Human Resources, The Wharton School

 Neng Liang, WG'86

Professor of Management, Associate Dean, Director of CEIBS Case Development Center, China Europe International Business School

Gallery 1 

Opportunities and Challenges of Innovation and Entrepreneurship in China

Panel Discussion Description

Based on two published case studies (An Early-Stage VC Investment: DT Capital Financing of LuckyPai (Wharton Case # 88), ZX Microfinance (Wharton Case # 90), this panel shows both the perspective of the entrepreneur, as well as the perspective of the VC firm that is considering the investment opportunity. The relationship between the founders and the investors is discussed as the panel explores how deals in China are structured somewhat differently than in the US.

 

Moderator:

Raffi Amit

Robert B. Goergen Professor of Entrepreneurship and Professor of Management, The Wharton School

 

Panelists:

Xiaojun Li, WG'04

Partner, IDG Capital

 Bertrand Schmitt, WG'04

CEO, App Annie

 Joe Tian, WG'98

Managing Partner, Shanghai Office, DT Capital Partners

 Wayne Zhang

CEO, Lucky Pai Limited

Ballroom 2/3 

Innovations in Banking Panel Discussion with Ping An Bank, Morgan Stanley, CTBC Bank, and J.P. Morgan

 

Moderator:

Marshall Meyer

Tsai Wan-Tsai Professor, Professor of Management and Sociology, The Wharton School

 

Panelists:

Nicolas Aguzin, W'90

Chairman and CEO, J.P. Morgan, Asia Pacific

 I-C Liu, WG'97

Senior Executive Vice President, CTBC Bank

 Shao Ping

President, Ping An Bank

 Shane Zhang, WG'98

Managing Director, Co-Head of Asia Pacific Investment Banking, Morgan Stanley

3:15 PM - 3:45 PMBallroom FoyerCoffee Break
3:45 PM - 5:15 PMLifelong Learning Master Classes led by Wharton Faculty
Ballroom 2/3 

Going Out by Going In: Business Model Innovation with Chinese Characteristics (presented with Peng Jiajun of Haier Group)

Class DescriptionMarshall Meyer

Tsai Wan-Tsai Professor, Professor of Management and Sociology, The Wharton School

"Going in" by "going out" remains a hypothesis, but it is based on close observation of the Haier Grouip, who has reconfigured rural distribution in China, is renting the distribution system to foreign competitors seeking to enter rural Chinese markets, and is poised to transfer its distribution system to emerging markets outside of China.

Their work provides an alternative model to China as a cauldron for manufacturing, in which China develops business models upending traditional assumptions about organizational design, consumers` preferences, and the capacity of distribution systems to reach remote markets. This introduces the notion that Chinese firms, like Haier, may be capable of exporting these business models to other emerging markets and hence of "going out" by "going in."

Bolstered by both the investment and concomitant affirmation of US private equity, Haier`s unique management and distribution systems focus on "product innovation, building a fully integrated online/offline platform and creating a highly efficient "made to order" distribution channel." Further validation of the Haier model comes from Alibaba, which recently announced a $361 millon investment in Haier Electronics to reach consumers in the interior of China.

Gallery 2 

Customer Portfolio Management in the Age of Big Data

Class DescriptionZ. John Zhang

Murrel J. Ades Professor, Professor of Marketing, Director, Penn Wharton China Center, The Wharton School

Advances in information and digital technologies over the past two decades have not only made it possible for firms to identify, track, target and engage customers at the individual level, but also to do so at increasingly lower costs. The advent of Big Data has further led to an exponential increase in the amount of information firms can gather and process about individual customers. Through online, mobile and other technologies, firms are able to constantly capture interactions with customers at multiple touch points, leading to a detailed picture about their behavior and preferences.

We show that, paradoxically, in the age of big data where individual customers have become more visible, firms should in fact pay more attention to managing customers collectively as a portfolio rather than in isolation. In other words, firms must not miss the forest for the trees. More specifically, we show that there is an optimal customer portfolio that includes not only high value customers but also low value ones. The existence of such an optimal customer portfolio further dictates that, contrary to the traditional CRM advice, having only high value customers need not necessarily be beneficial to a firm and in some situations it can be counterproductive to convert less profitable customers to more profitable ones.

Gallery 1 

The Impact and Implications of China`s New Healthcare Reforms on their Healthcare System

Class DescriptionLawton R. Burns

James Joo-Jin Kim Professor of Health Care Management, Department Chair, The Wharton School

A discussion of the impact of expanding insurance coverage on rising healthcare costs, the impact on the country`s emphasis of biotechnology investments, and efforts to reform its public hospital system.

Salon 4 

Supporting the Growth of Entrepreneurship and Preparing for Viability

Class DescriptionLaura Huang

Assistant Professor, The Wharton School

Over the past two decades, China`s economy has grown at a phenomenal speed, and much of the growth has been stimulated by small Chinese firms run by private entrepreneurs. These entrepreneurs represent the most dynamic force in the Chinese economy, and have begun to affect global market opportunities, including opportunities in the United States and the West.

Much like their counterparts in the West, in an environment where survival is the top priority, the ability to gain critical resources such as financial capital and access to key mentors is one of the most important ways in which entrepreneurs ensure the viability of their firms. This master class examines the early stage ecosystem that is necessary to support the growth of entrepreneurship and how entrepreneurs can prepare themselves to tap into it.

This session brings together research on entrepreneurial founding teams, early-stage financing, organizational culture, and Chinese entrepreneurs and investors at high-tech incubation centers in Beijing in a discussion on the changing nature of entrepreneurship and early stage ecosystems, which are facing rapid growth.

Salon 1/2 

Managing Succession in the Chinese Closely Held Private Firm: Balancing Harmony with Financial Prosperity

Class DescriptionRaffi Amit

Robert B. Goergen Professor of Entrepreneurship and Professor of Management, The Wharton School

Through a highly interactive dialogue, Professor Amit will lead a discussion of a range of issues that relate to managing transitons in ownership, management and control in the Chinese closely held private company. Using examples, we will address the overarching challenges for family firms in the transitions including:

- Balancing the liquidity need of different family branches or generations with the desire for control of the family

- Balancing the diverse interests of different family members, branches or generations, with the interest of the family as a whole and of the family business

- Balancing the need of attracting and retaining talents from outside of the family for management with the importance of involving family members in managing the family business

- Preparing for leadership succession

This discussion will be embedded into a broader framework that considers the challenges to the sustainability and prosperity of the Chinese family enterprise. We will review the foundations of effective governance and in particular the roles of shared values, beliefs, norms, and culture.

Ballroom 1 

Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way

Class DescriptionMichael Useem

William and Jacalyn Egan Professor of Management, Editor, Wharton Leadership Digest, Director, Center for Leadership and Change Management, The Wharton School

Change is coming. Leadership is being redefined at the top, as boards take a more active role in decisions that once belonged to the CEO. But for all the advantages of board engagement, it can create debilitating questions of authority and dangerous meddling into day-to-day operations. Directors and executives need a new roadmap for when directors should lead, when they should partner, and when they should stay out of the way. This new governance model -- a sharp departure from what has been demanded by governance activists, raters, and regulators -- requires a new set of practices that guide shared leadership of the firm by both directors and executives. Based on interviews and experience with executives and directors from dozens of the world`s largest firms, including Apple, Boeing, Ford, Infosys, and Lenovo, we conclude with a set of checklists that will help transform directors from monitors to leaders.

7:00 PM - 8:00 PMBallroom FoyerCocktail Reception
8:00 PM - 11:00 PMBallroomGala Banquet
 Phillip Y. Wu, WG'95

Founder & Chairman, Applied Strategy Group

 

Keynote Speaker

Silas Chou, PAR'14

President and CEO, Novel Enterprises Limited

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