Themed "Uncertainty Navigating," the New Champion Dialogue, a virtue panel held during the World Economic Forum (WEF) started off on July 18 with the participation of some 1,100 leaders and experts from over 90 countries.
At the session of "Championing the Entrepreneurial Agenda", Perfect World CEO Dr. Robert H. Xiao shared his insights on enhancing future readiness of SMEs together with three other corporate executives.
Dr. Xiao said that Perfect World is by nature a technology company. "So the technology itself is the center of our development, and the second is content, as contents of films, games, e-sports or Metaverse all have a storyline, and telling a story well is very much to do with creativity, not exclusively in technology," as he added.
What measures and changes to take to survive the recession caused by the pandemic have become a hot topic for enterprises, especially SMEs. As far as the solution is concerned, Dr. Xiao suggested that digitalization and cross-disciplinary cooperation could be a way out. "In the case of Perfect World, we put cultural symbols such as Nanjing Confucius Temple, the Mogao Caves of Dunhuang, hanfu, and traditional Chinese music in our products, said Dr. Xiao. "It would enrich the contents by bringing in different scenarios and cultural symbols into the contents of our products", he added.
As Metaverse becoming a popular buzzword, Dr. Xiao shared some of his view on Metaverse. He believes that Metaverse is still in a preliminary stage and has not yet formed a market consensus. "A complete Metaverse would involve various fundamental technology platforms and a uniformed standard, so that everyone can build their own Metaverse contents on the platforms," he said.
In answering the question of how SMEs achieve sustainable development despite the potential recession caused by the COVID-19 pandemic, Dr. Xiao stressed that the recession is also a test for a company to see whether it has determination and can focus in its core competences.
"Additionally to resilience and a heart for mission, SMEs must find the correct direction and focus all the resources in this direction. Furthermore, we must keep faith for the future, and stay agile to respond to changes in the market and the industry to better embrace the challenges and opportunities," said Dr. Xiao.
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