Edited by Huiyao Wang and Lu Miao
Chapter 17: Six aspects of wangdao to create values: the basic mindset to promote the development of human civilization
This chapter discusses the business philosophy of wangdao which is a form of leadership that values creativity, balances the benefits to stakeholders, and fosters sustainable development and prosperity through six aspects of business ideology and culture (“the direct,” “the indirect,” “the tangible,” “the intangible,” “the being,” and “the future”) to maximize value. Wangdao originated from Confucianism and Mencius and their disciples during the Spring and Autumn Period and Warring States Period in Chinese history. Wangdao combines the different cultures and management ideas of the East and the West. Its competitiveness formula – competitiveness = f (value/cost) – requires the six aspects of wangdao to calculate complete value. Wangdao has not only contributed to building human civilization but also can offset the drawbacks of capitalism and break through traditional cultural bottlenecks and tap talent potential. Some successful cases demonstrate how value can be more effectively created through the mechanism of wangdao by balancing the interests of all stakeholders. Wangdao can make a sustained contribution to society, and continue to contribute greatly to human civilization.
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