With a population of just 45,000, the Caymans Islands house more than 100,000 Taiwanese letterbox companies with tax-free status. However, earlier this year, the tax haven enacted “economic substance” legislation that requires offshore companies to prove that they actually derive their income from business in the island territory or pay tax.
A physical checkup three years ago changed the life of Innolux honorary chairman Tuan Hsing-chien, who had just retired at the time. He was told he had lung cancer, and the diagnosis spurred him to take up the charge against air pollution in Taiwan.
Says design guru Aaron Nieh (聶永真), “An important reason why Spring Pool is more than a traditional industry, but also a famous contemporary brand, is because it melds environmental protection with craftsmanship and positions itself as a sustainable industry that will survive far into the future.”
The Fulin Plastic Industry Company(富林塑膠) has enjoyed double-digit growth and good profits for many consecutive years. In 2018, it returned to Taiwan to be listed on the Taiwan Stock Exchange. It is the biggest PVC manufacturer in Vietnam. They make everything from scooter seats to car interiors; they’ve even secured a spot in the supply chains of posh handbag brands such as Coach and Michael Kors. How do they do it?
As other Philippine telecom service providers were still embroiled in a cut-throat price war for text messaging services, Globe Telecom had already transitioned to more innovative business models, increasing customer loyalty through free telephony services, enhancing the customer experience through guided tours and creating its own content. On the sidelines of the CommonWealth Economic Forum, Globe Telecom President Ernest Cu shared his views on leading his team and embracing a digital lifestyle.
Digital innovation within CommonWealth Magazine meant requiring print-oriented workers to take on more tasks. How did CommonWealth get people lacking in digital skills up to speed to take on the rapidly changing media environment?
Western Europe is the leading hub for the world’s talent, outperforming other regions in attracting, developing and retaining highly skilled employees. This is according to the recently released IMD World Talent Ranking 2018 in which Western European nations fill nine of the top 10 places.
The digital economy has upended every industry, and the media is no exception. But while international media outlets have been overhauling their operations to adapt to the changing world, the business models of most Taiwanese media organizations have remained stagnant. Even specialized financial and business news companies that report daily on how companies are transforming their operations have made few advances in their own operations.
At 24, Jeffery Lin returned to his hometown of Sanxia in New Taipei City to save his grandfather’s soap factory from going under. Together with a few friends, Lin established a new soap brand that generated sales worth NT$50 million in four years. Despite his commercial success and a bright future, Lin decided to call it quits and test uncharted waters. With borrowed money, he launched a community-based social enterprise.
With 430 corporate partners in 28 industries, this platform offers internship opportunities in 45 countries; over 309 students have interned in countries such as Taiwan, Italy, Indonesia, Vietnam, and India. We have also attracted foreign students, from countries like Italy, Germany, and Spain, to intern in Taiwan.
Some Taiwanese executives have embraced a “blue ocean” strategy of seeking out new markets rather than getting stuck in fiercely competitive “red ocean” markets. CommonWealth Magazine helped two of them ask the scholars behind the concept questions on how it can be better applied.
An initial question for a wannabe-Western entrepreneur would be: "Where in Asia do I want to build a business?" A careless answer could be whichever economy is growing the fastest. However, a more thoughtful approach would consider how fast an economy is expanding and in what way.
According to the latest research from Bloomberg, Generation Z will outnumber Millenials for the very first time by next year. Gen. Z, born and raised in the digital age, has no experience in pre-digital life. The rise of Gen. Z might shift business paradigms for companies that want to engage with this new demographic.
Although Silicon Valley is still in the top spot for breeding 'Unicorns', startup companies that are valued at more than $1 billion, some Asian cities are hot on their heels. Beijing and Shanghai have led the way in Asia, ramping up to compete.
Taiwan’s textile and apparel industry is taking advantage of new opportunities, since manufacturing in the United States cuts down on costly shipping time, smaller brands gain in popularity, and the global division of labor is reshuffled yet again.
The prominent Japanese Enterprise Naturally Plus elected to establish its first overseas base in Taiwan in 2004. That decision was largely made out of appreciation for the proactive, hard-working nature of the Taiwanese people, starting with their energy and capacity for getting things done, and extending to advantages like their knack for planning and problem-solving, along with Taiwan’s frequent commercial interactions with other countries. And Taiwan did not disappoint, as Naturally Plus has gone on to record year after year of revenue growth in Taiwan. The Taiwan branch also established a new precedent, holding a leadership conference at the Sydney Opera House for over 1,700 partners, making numerous miracles happen and paving the way with its extraordinary energy for Naturally Plus to expand business around the world.
Timothy Lu went to the United States to study electrical engineering, seemingly set to follow his father in the electronics industry. But he decided to follow a different path, and the MIT professor is now recognized as one of Boston’s top entrepreneurs.
U.S. President Donald Trump was in Wisconsin to celebrate the groundbreaking of Foxconn’s new science and technology park. But as the market evolves and supply chain realities emerge, can the project really deliver on its promise?
When Morris Chang returned as CEO in 2009, his first major decision was to double TSMC's capital cost to 5.9 billion US dollars, leading TSMC to create the 28-nanometer process miracle, to snatch away 80% of the market, and to win over Globalfoundries. With Chang at the helm, TSMC's stock price increased by 237% with a market value increase of NT 3.3 trillion. Yet, after seven years of legendary leadership, he vowed to make a clean break with TSMC in June. What will TSMC's future be without Morris Chang?
Four years ago, Chinese smartphone maker Xiaomi entered the Indian market, where it went up against the seemingly impenetrable market leader Samsung. In just two years, it became the leading smartphone brand in India, commanding over 30 percent market share. What lessons does Xiaomi’s sweeping success have for Taiwanese firms?
In the startup scene, advice is typically given to avoid creating a platform because conditions are harsh and survival prospects slim. But John Sie, a former Hon Hai/Foxconn Technology Group employee, along with a fellow student founded software-as-a-service platform Accupass. Their startup not only managed to survive lethal competition in China where Internet startups go bust in droves, but Acupass even evolved into the biggest cross-strait event-hosting platform. How did Sie achieve this formidable feat?
At the age of 20, Jeffrey Huang was the oldest member of L.A. Boyz, a hugely popular trio that took Taiwan by storm with their American-style hip hop, rap, and dancing. Now in his mid-40s, Huang has become a serial crossover business entrepreneur. From performing on stage to founding businesses behind the scenes, how has Huang adjusted?
Launched as a small coffee-to-go store, Louisa Coffee has since evolved into one of the nation’s major coffee chains, looking to take on market leaders Starbucks and 85C. How did founder and General Manager Chris Huang turn his passion for coffee into a successful business?
At the just-concluded Tokyo Motorcycle Show, Taiwan’s largest conventional scooter maker Kwang Yang Motor Co. Ltd (Kymco) premiered its new battery technology eco-system, called Ionex. With what it calls its “game-changing” new system, Kymco hopes to sell e-scooters made in Taiwan around the globe.
The Taiwanese live streaming platform "17 Media,” co-founded by Taiwanese rapper Jeffrey Huang of the hip-hop group Machi, successfully entered Japan last year and is now looking to South Korea and the United States. What is the secret to standing out in the hotly contested live streaming market?
He is in charge of the Microsoft search engine Bing, personal assistant Cotana and cloud platform Azure. He comes from Taiwan and is now CVP of Microsoft AI Core and CTO of the AI and Research Division. He is David Ku, the person in charge of integrating AI function into Microsoft’s essential products.
In the 20th century, having oil meant having power and influence. In the 21st century, data has supplanted oil as the resource of choice. But having it isn’t enough. What is it that is separating the winners from the also-rans in this data-driven age?
Jack Ma, the founder of Alibaba, is ranked second on Fortune’s list of the World’s 50 Greatest Leaders. Here he shares his insight on management and also points out a crucial mistake that startups should be avoiding.
Like many young Taiwanese entrepreneurs, this CEO of a men’s skin care company had to break out of his shell to find his way and now hopes to create an environment in Taiwan that values talent more highly and dares to reach out into the world.
What can we learn from the Hidden Champions? What potential danger is threatening Taiwan in the global competition? See how professor Hermann Simon, elected as the most influential management thinker after Peter Drucker, reveals the secrets of the Hidden Champions in 2017 Gurus Forum in Taiwan.
Startups and young entrepreneurs are one of the key factors to improve the state of the Arab world and the future ahead of them can be full of potential. How do they find the way to success amid the region's current geopolitical conflicts?
The Taiwan Lettuce Village’s modern practices are redefining how to grow, harvest and store fresh produce. After conquering Taiwan, the company’s iceberg lettuce is now making waves on the global stage.
At a time when China is gaining dominance in Chinese-language pop culture, KKBox has chosen a new approach, launching cultural and entertainment platform “KKFarm” to give fledgling Taiwanese cultural and creative firms the chance to flourish.
From buying Hollywood talent and acquiring movie theater chains around the world to protecting its home market, China is intent on becoming a powerhouse in the global film and video industry and setting the agenda on video content.
Even with open curricula and Internet-based direct broadcasts available in China, a paid subscription knowledge platform has attracted 1.5 million users and garnered NT$1.3 billion in annual revenue. How has it done it?
Live streaming has not provided the payout many anticipated, but a new model has emerged in China that could fill in the gap – paid subscription knowledge sharing platforms. How have they been able to rise to prominence?
Each day our world is constantly changing and becomes more competitive. Good leaders brings their teams toward progress and success. However, what does it really mean to be a good leader? World-class author and motivational speaker Simon Sinek might have an answer.
Why is business booming for Pinkoi in countries around the world? Using a recommendations function and analyzing consumer preferences to target their needs, the company acts as a bridge between supply and demand to successfully navigate the intense competition of the e-commerce space.
Clayton Christensen, who is a professor of Harvard Business School and known for his famous theory of "disruptive innovation", came to give a speech in Taipei under the joint invitation from CommonWealth Magazine and NTHU.
Starting a business is easy, but continuing to make profits is really difficult. Many enterprise operators are afraid of innovations, because once the existing business model is altered, it will be hard to expect profits. Then, what is the key and strategy for companies to innovate successfully?
Growing up, she dreamt of becoming a knight in shining armor defending the weak and downtrodden. As an adult, she worked to save mold maker Chaheng Precision Co. Ltd. from bankruptcy, transforming the conventional company into a Tier-1 supplier for the world’s leading aircraft makers.
Internet technology has facilitated the rise of social media “tribes” that promote their own ideas or interests through highly insulated “echo chambers.” How can marketers penetrate these social media groups to turn “fans” into customers?
A milkfish farm in Kaohsiung has found success with ecological aquaculture, using mostly all-natural feed. Its experience has raised hopes that eco-friendly fish farming can maintain supplies while allowing our exhausted seas to catch their breath.
With the advance of medical technology, physicians need to communicate not only with patients but also with engineers. The definition of “professional" now includes being able to apply new technologies and keep up with technological progress.
Venture capitalist Kai-fu Lee believes the new wave of startups by young entrepreneurs will disrupt established business models, and he argues in this interview that the power of youth should be feared and respected.
Steven Chang's CID Group has been Taiwan's most successful venture capital firm for nearly a decade. As he looks to the future, what are his latest strategies, and what investment opportunities does he see in Taiwan?
Nearly three out of four Taiwanese want to start their own business. But how does ambition differ from reality? CommonWealth Magazine compares the expectations of the public with the experiences of ten top entrepreneurs.
Using a groundbreaking new cooling fabric, an international undergarment brand has unveiled a new collection that's completely Made in Taiwan – from materials to R&D to production to international marketing.
Morris Chang has returned to the helm of TSMC. In this exclusive interview, he ponders the questions on everyone's mind: How will this veteran executive stabilize the company and help it surmount barriers to continued growth?
The venerable century-old institution that got its start in incandescent light bulbs is plunging into the new era of LED lighting. Using a clever joint venture model, OSRAM is deploying around the globe.
Meticulous intelligence on retail sales, inventory, and product maintenance have allowed cell phone vendor Senao to cut costs, get a clear picture of consumer preferences, and become Taiwan's largest handset distributor.
While most Taiwanese companies are focused solely on the U.S., Europe and China, D-Link has been intensively cultivating Third World markets. What is their singular strategy for working alchemy in the wilderness?
With 176 vessels plying the world’s oceans, Evergreen is a truly global Taiwanese conglomerate. The green-friendly vision of Chairman Y.F. Chang has helped it claim a popular niche in a cutthroat field.
Hardly anyone has heard of this obscure Taiwanese-invested company in China. Yet Keen High, whose turnover has increased eightfold in just three years, makes portable MP3 players for most of the world?s global brands...
The Price-Earnings Ratios of Taiwan's listed companies remain discounted internationally. A number of substantive steps can be taken to make the island?s corporations truly world-class, and raise the appraisal of Taiwan.
The two industrial giants Chinese Petroleum and China Steel have born the blame for Kaohsiung City's world-topping carbon emissions. Now, their aggressive carbon-cutting efforts are helping the environment, and making them money too.
As petroleum prices keep rising, solar energy and LED lighting offer tremendous alternative potential. Riding high on the tide, Taiwanese enterprises are jockeying for position to profit off global warming.
The chairman of Uni-President, renowned for its contributions to disaster relief and aid to impoverished communities, shares his insights on balancing responsibilities to shareholders and the public interest.