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New Momentum ep.5: Private company adopts 'Fission Entrepreneurship'

CCTV.com

04-15-2016 13:22 BJT

Guangdong province is home to a large number of private manufacturing companies. Due to sluggish global demand, many companies have taken measures to upgrade their brand and reform internal structure to maintain sustainable growth. CCTV's Wu Lei heard from one such company about the management model it has adopted to turn things around.

This is the production line of Phnix, one of the largest heat pump manufacturers in China. Its founder Zong Yi said the company once relied heavily on producing for foreign brands, but due to the sluggish demand, he has restructured the company and built his own brand. 

"The business model of these export-manufactures is simple, they produce high quality products for foreign brands. But when they upgrade their business model, they often lose talent. Their management model has trouble satisfying the needs of the company," he said.

After one of his partners left the company to start his own business, Zong Yi realized he needed to find a way to keep his managers on board.

Losing talent and a lack of innovation have been increasing challenges for many manufacturing companies. But this company has created a unique management mode called "Fission Entrepreneurship" to help solve these problems. Through internal competition, the management team has created over 10 spin-off companies.

Fission Entrepreneurship helps managers build their own teams and develop innovative projects. With the internal business contest, the candidate who wins the most votes will become the general manager of the new company.

Yi Yi was originally a senior engineer. He teamed up with other colleagues and won the contest. Now he runs his own company with other shareholders. 

"In the past I just finished my job as an employee, but after starting my own business, I have to manage the company myself, take the risk and be responsible for my colleagues and shareholders. So I must invest all my efforts and enthusiasm in my work," he said.

Yi's comapany is now a major player in the industry. Spin-off companies like his cover a lot of industries even education. This kindergarten is another such project. Zong Yi said this management model can offer business experiences to other private companies.

Most of the employees here are doing their best to chase their dreams. They hope that one day they too can start their own business.

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