INTERNSHIPS
Reports
Experimental Entrepreneurship
2016-09-23
羅智朗 Law Chi Long James
新時代集團 Fairchild Group
溫哥華 Vancouver
The concept of “experimental entrepreneurship” is basically a business strategy of trial and error that I have come up with on two separate occasions: at a dinner sharing with Mr Fung, the President of the Fairchild Group, and on a ferry trip to Victoria with some retired businessmen.
The Fairchild Group under Mr Fung’s leadership has been expanding their influence into numerous industries such as real estate, media, retail and food. Although I do not study business at school, I have heard about sharing economy. Therefore, in the conversation with Mr Fung, I asked him why he chose to expand his business horizontally instead of vertically. He explained how he enjoyed travelling around the world to find special or inspiring ideas and implement them in Canada. Even though his sharing was interesting, the answer did not satisfy me.
It was not until the last weekend of my internship did I find the answer that satisfied me. I was on a 2-hour ferry ride to Victoria where I met a group of retired businessmen. During our conversation, they told me if your business could not dominate the market, it would decline or be acquired. Thus their business strategy is to start a company and sell it while it is still popular.
