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Prasetiya Mulya Hosts Global Scholar Network Conference 2014

Agustus, 2014

Prasetiya Mulya Business School on 21st August 2014 hosted Global Scholar Network Conference 2014 at the Grand Hyatt Hotel in Jakarta. An annual event held to encourage discourse on topics relevant to Indonesia’s continued development, the 2014 installment focused on Global Innovation and Entrepreneurship as a main theme with particular attention paid to ‘building key capabilities for emerging economies’.

In providing a forum to discuss topics related to this field Prasetiya Mulya invited distinguished speakers from the foremost academic institutions around the world. Via prepared presentations as well as a question and answer panel session, these speakers delivered their insights to an audience of business leaders from across the full spectrum of Indonesian industries in addition to policy makers and fellow members of the academic community.

Opening the event was Mr Jusuf Wanandi, Chairman of Prasetiya Mulya’s Board of Advisors, who touched upon the importance of education in creating entrepreneurs and the responsibility of business schools to foster the spirit of business. Taking steps to create entrepreneurs, he explained, would allow Indonesia to begin tackling the challenge of pursuing innovation today.

Among the event’s esteemed invited speakers was Prof. Wong Poh Kam, Professor at the National University of Singapore (NUS) Business School and Director of the NUS Entrepreneurship Centre, who discussed in detail the concept of creative imitation as a strategy to be used by latecomers in catching up to the innovation frontier. Prof. Kam argued that emerging economies are best served adapting existing technology to novel applications
and new industries; thereby following a ‘path-breaking’ strategy as opposed to a ‘path-following’ one that confines latecomers to a permanent inferior position to developed economies. Examples of this path-breaking approach include Chinese electronics company Xiaomi, who emulated the Apple model for mobile phones but did so with models offered at lower prices and better suited to the Chinese market. Prof. Kam explained that there are many opportunities for Indonesian companies to adapt existing technology in a similar fashion to cater to emerging middle class consumers locally as well as in Turkey and India.

Prof. Masanori Namba from Ritsumeikan Asia Pacific University in Japan delved into similar concepts in his presentation on Incremental Radical Innovation, or market-altering innovation pursued in stages. Pursuable by SMEs, this strategy requires patience in allowing a small project to develop the capacity to produce ‘global niche products’. Illustrating Prof. Namba’s point is the steady rise of Toa Koki Co. Ltd. from a manufacturer of potbelly stoves in 1945 to now dominating the global market for cylinderliners for large scale ships.

Offering a wide array of insights into different topics, the Global Scholar Network event also presented a look into innovation as it relates specifically to business schools. In a speech on the ‘Innovation Imperative’ faced by business schools Prof. Horacio M. Borromeo, Dean of the Asian Institute of Management in the Philippines, presented challenges faced by business schools such as the emergence of Massive Open Online Courses (MOOCs) and rising competition for top students. Pursuing innovation in learning experience and teaching structure, Prof. Borromeo explained, is one ​way that business schools could stand out and provide value to students.

Also speaking at the event were Prof. Zong Tae Bae from KAIST in South Korea; Associate Prof. Brent Ritchie from the University of Queensland Business School in Australia; and Prof. Don R. Rahtz from the  Mason School of Business in the USA. Professor Djoko Wintoro as Dean of the Prasetiya Mulya Business School presented his key insights into innovation within the context of city development; expressing the view that Jakarta needs to take steps to become an ‘Innovative and Prosperous Megacity’. In its current state, the city trails far behind (348th) the leaders in a ranking of contributions to world innovation.

The Global Scholar Network is part of Prasetiya Mulya Business School’s tradition and is emblematic of its commitment to advancing business knowledge and practice. The business school will continue the annual hosting of this event to cement its status as a leading advocate for progress in Indonesia, not only as it pertains to education but also industry advancement.