A Quote by Zhou Qunfei
My choice of this business, and that I relatively enjoy innovation and research, is greatly related to my father.
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No decision in business provides greater potential for the creation of wealth (or its destruction, come to think of it) than the choice of which innovation to back.
We are working to understand the tastes of people born in the 1980s and 1990s - it is very different from my generation. We do our own research. Marketing research companies, I think, are relatively academic.
My father was a great business leader and humanitarian who dedicated his life to the company and the community. He also was a wonderful family man, a loving husband, father, grandfather and great-grandfather. He will be greatly missed by everyone who knew him, yet he will continue to inspire us all.
If you look across the economy, if you have multiple players in an industry, you have more customization, more innovation, greater choice for consumers. The more you have consolidation, the less likely you are to invest in innovation. It becomes all about driving down cost and mass production. And that's not good for innovation in an industry.
We human beings do have some genuine freedom of choice and therefore some effective control over our own destinies. I am not a determinist. But I also believe that the decisive choice is seldom the latest choice in the series. More often than not, it will turn out to be some choice made relatively far back in the past.
There are lots of India-related business which is nourished overseas. I mean India-related business that is done off-shore. There are lot of funds that are invested in India and run by Indians but are being operated from outside, mainly because of the taxation laws.
Most innovation is not done by research institutes and national laboratories. It comes from manufacturing - from companies that want to extend their product reach, improve their costs, increase their returns. What's very important is in-house research.
I always thought, 'Will I go into the business, or will I not go into the business?' But when my father got arrested, I really didn't have a choice. I was the oldest son, and it was something that had to be done.
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