“Having served in a large-scale public association in the past, I have walked a journey step by step. Now, it has been four years since I took up the position of CEO at Taiwan Digital Enterprise Alliance (TDEA).” Bella Wang ‘s resilience and professionalism have accompanied numerous new-generation entrepreneurs through the succession challenges of different stages. In the industry, she is referred to as the “Second Generation Queen.” However, beyond the image of a ‘queen,’ Bella Wang resembles more of a warm enabler, not just in terms of leadership and influence.
“In truth, what I enjoy the most and excel at is companionship,” Bella Wang shared in an interview with《The Icons》. She elaborated on how she professionally assists new-generation entrepreneurs and their companies in “innovation,” “upgrading,” and “transformation.” Explaining how, in the space-time continuum filled with opportunities and challenges, she helps individuals find their positioning. She also highlighted how, on the platform of TDEA, she discovers like-minded partners, fostering collective creation, contemplation, and the practical realization of greater influence.
“This is what the association should do, and it’s what I want to do. We see many new-generation entrepreneurs who are very willing to put in the effort, but succession is no longer a new issue. Everyone knows that the real challenges begin after succession. The association’s platform is here, and as long as you are willing to join the effort to turn this positive cycle, the doors here will always be open for you!”
Taiwan Digital Enterprise Alliance (TDEA) Provides A fertile Ground for the New Generation of Entrepreneurs
The industry refers to Bella Wang as the “Second Generation Queen,” but in her own heart, there may be another interpretation not known to everyone. In the minds of many new-generation entrepreneurs, whether in her professional capacity or personal life, Bella Wang is more like a continuously empowering good friend or sister:
“If we must use the term ‘queen,’ I personally prefer to liken myself to the Queen of England and her relationship with her country and affiliated enterprises. Queen Elizabeth II may not directly involve herself in every detail within the territory, but she is a crucial part of every English person’s growing-up memories. She serves as a lighthouse in the entire national and corporate ecosystem, providing various assistance to ensure that individuals, farmers, workers, businesses large and small, all have access to good resources to prepare for present and future development.”
Bella Wang emphasizes that fertile soil allows seeds to grow and bear better results. Positioned at the strategic international crossroads, Taiwan, TDEA is exerting its maximum capacity, providing such fertile ground for new-generation entrepreneurs. This enables them to prepare for succession, engage in “digital transformation,” “zero-carbon transformation,” and collaborate internationally:
“The association has a team of top-notch professionals and consultants, diverse industry partner companies, and every member of the new generation of entrepreneurs is highly motivated. If you are willing to come, I am willing to wholeheartedly guide you in utilizing these resources and grow together with us. However, the prerequisite is that you must be very serious.” Bella Wang adds that the association has gathered so many dedicated individuals, and everyone is willing to turn back and empower this ecosystem. That’s why, since its establishment in 2020, it has grown rapidly, now entering its fourth year.”
Bella Wang: The Shortcut to ‘Transformation’ is to Do It Together!
“Ask Bella!” This is a phrase that often comes to mind for many new-generation entrepreneurs when facing challenges. “If there are matters I cannot directly help resolve, I will accompany them in finding solutions or relevant resources. It is because of this that many second-generation individuals and the association have a deep sense of camaraderie.”
Since 2016, when Bella Wang was still serving in a large public association, she was entrusted with the responsibility of assisting second-generation entrepreneurs and guiding startups. She embarked on a journey to delve into various industries, unearth, and connect outstanding second-generation entrepreneurs. Her mission is not only to assist businesses in their development but also to help them respond to international trends, including the European Union’s announcement of the Carbon Border Adjustment Mechanism (CBAM) draft in July 2021. In the ongoing process of “digital transformation,” everyone is simultaneously contemplating sustainability and engaging in “zero-carbon transformation.”
It is evident that Bella Wang’s path was not easy from the beginning. Bella Wang jokingly said that when she first started integrating the work of second-generation entrepreneurs and initiating the “Zero University” in its inaugural and first sessions, her actions sometimes seemed “unbelievable” to many older-generation entrepreneurs:
“The previous generation was still managing business affairs, and suddenly there were people actively advocating for their next generation to take over. They always talked about things that they might not fully understand, such as ‘zero-carbon transformation,’ and even asked them to pay for their children to attend classes. How would these older generations view us? However, over time, they will also understand,” Bella Wang said:
“What we are doing is meaningful and can practically help everyone solve problems. Especially in the matter of ‘transformation,’ when regulations, supply chains, and even consumers begin to demand it, you have to start thinking about and implementing ESG. Even the external image of the company needs to be reshaped because the era of making profits by maintaining the status quo is long gone. But can this be decided by the father alone? Or does the son or daughter have a say?”
Certainly, such decisions cannot be made by one person but involve the entire company, from top to bottom. For example, setting up IOT involves countless communication matters, and merely bringing a young digital team into the company and communicating with older colleagues who may not understand new technologies is a colossal task.
TDEA has industry experts, methodologies, abundant industry resources, and a continuous supply of experiences from senior colleagues. These bits and pieces are the nutrients helping new-generation entrepreneurs overcome milestones.
Time will prove everything. Gradually, more and more new-generation entrepreneurs on the path of succession are gathering at the association to learn and create together. Under the active promotion of Bella Wang and the board of directors, more proactive second-generation and new-generation entrepreneur organizations with a desire for progress are connecting with the association. They are creating possibilities that were unimaginable before, from initially being questioned to now having a massive scale of over 30 second-generation communities working together. Bella Wang pointed out the key to the association’s rapid growth:
“Everyone here is very selfless, deeply believing that for the industry to develop, we must take the same path. This includes ‘transformation.’ Therefore, individuals like our chairman, Catherine Huang of Victor Taichung, and our vice chairman, Mr. Richard, the general manager of Anko Food Machine Corporation, along with several directors, are very proactive in sharing experiences and resources on various occasions, even driving transformation.”
Bella Wang emphasizes that the shortcut to ‘transformation’ is for everyone to join hands and do it together. These backbone partners of the association have become a paradigm, attracting similarly proactive, dedicated, and friendly entrepreneurs to create a complementary and symbiotic close-knit ecosystem.
Fighting as A Team and Engaging in International Battles are the Same Thing
“Whether assisting new-generation entrepreneurs in ‘digital transformation,’ ‘zero-carbon transformation,’ or establishing new brands, what I often emphasize to everyone is the importance of fighting as a team,” playing the role of a platform, TDEA, actively assists young leaders in forming alliances for international ventures.
In Bella Wang’s eyes, fighting as a team and engaging in international battles are two different paths leading to the same destination. She frankly points out that from earlier years until now, many Taiwanese companies are accustomed to going solo, both domestically and on the world stage, often even competing against each other:
“More and more foreign agents are reluctant to purchase Taiwanese products. Besides technical reasons, it is also because Taiwan cannot provide internationally integrated resources. Take South Korea as an example; their entire ecosystem collaborates globally. Every industry chain internationally offers integrated solutions.”
Bella Wang emphasizes that without a change in mindset, even grabbing a small piece of the pie can be challenging. In the international market, apart from breaking through in professionalism and competitiveness, companies need to innovate and understand how to collaborate and integrate with other enterprises to stand firm on the international stage. For example, establishing a holding company can reduce administrative costs and provide more negotiating leverage in international negotiations.
Recently, TDEA has been actively connecting resources between Taiwan’s second-generation entrepreneurs and ASEAN countries. Before 2000, Taiwan’s GDP was approximately half of the combined GDP of the ten ASEAN countries. However, in the financial year ending 2022, the GDP of the ten ASEAN countries has reached 4.8 times that of Taiwan, expected to surpass Japan in five years and reach USD 5.2 trillion by 2027. In Bella Wang’s view, many enterprises must collaborate to participate effectively in this lucrative opportunity.
Bella Wang states that the shift of manufacturing from China, coupled with gradually improved infrastructure and business conditions, including the consumption potential brought by a large population base, provides many opportunities for Taiwan’s new-generation entrepreneurs in the ASEAN region:
“Domestic enterprises cannot solely rely on natural growth anymore. What the association is doing now is encouraging upstream and downstream industries to form alliances and follow the lead of large enterprises in ASEAN and other countries. This is one of the shortcuts to internationalization. For example, during this period, we have had close interactions with several large enterprises in Thailand.”
Bella Wang also cites Japan as an example, illustrating the TDEA‘s ambition to lead the international expansion: “Many Japanese companies have the characteristic of not passing down wisdom to their descendants, providing opportunities for Taiwanese companies to acquire Japanese companies. Through acquisitions, you can quickly achieve internationalization, own a Japanese brand, and gain the trust of local Japanese enterprises and consumers. Simultaneously, through acquisitions, you can upgrade directly. If you have ambition, why not?”
Supporting New-generation Entrepreneurs to Stand on the Shoulders of Giants
“Grounded in Taiwan, with a global perspective, the confidence of Bella Wang and the TDEA largely stems from the mentorship network behind TDEA. These mentors are adept at addressing specific issues, providing varying degrees of support, and assisting businesses in resolving a myriad of challenges. Bella Wang metaphorically describes the mentors’ guidance as a blessing, positioning the new-generation entrepreneurs as ‘standing on the shoulders of giants.’
For instance, Dr. Fan Xin, the General Manager of TECO Electric & Machinery, holds a Ph.D. in Mechanical Engineering from the University of Michigan. With over 20 years of immersion in the automotive industry, including roles as the CEO of Jiangling Motors (a Shenzhen-listed company and one of China’s top 300 listed companies) and the CEO of Ford Lio Ho Motor Company (Taiwan), Dr. Fan possesses deep insights into finance, procurement, engineering, and management. He has also served as the President of The American Chamber of Commerce in Taiwan.
Dr. Fan is a mentor who has transformed the thinking of many participants, not only changed their mindset and enhanced their decision-making effectiveness but also altered the perspectives of the previous generation. For example, if you plan to enter the German market, Dr. Fan will advise you that specific think tank reports can be immensely helpful, potentially saving you millions in the long run. The older generation did business through travel, but the new generation needs to learn to use tools.
Another stalwart mentor is Mr. Hsieh, the Vice Chairman of Chuan Lian Enterprise (PX Mart) and one of TDEA‘s strong mentors. He is one of the few veterans in Taiwan with expertise in both logistics distribution and e-commerce. Previously serving as the Chief Operating Officer and Chief Strategy Officer at 7-ELEVEN, alongside Hsu Chung-Jen, they turned it into a dominant force in Taiwan’s circulation and retail industry. Later, Mr. Hsieh joined 85°C Bakery Cafe and, with Chairman Wu Cheng-Hsueh’s trust, propelled the brand internationally. Recently, with Mr. With Hsieh’s assistance, Saint Paul has redefined its business approach, including optimizing its product structure and innovating its business model, resulting in a 12.5% growth in revenue in 2023.
“I often share with everyone the phrase, ‘Learn from TDEA, apply for the next generation.’ Mentors are giants, and TDEA is a closely-knit ecosystem created by everyone together. New-generation entrepreneurs, as long as they are part of it, have the opportunity to become giants themselves and, alongside TDEA, empower more new-generation leaders.”
Bella Wang emphasizes that TDEA carries many aspirations, containing the expectations of the previous generation and seeing the vision and mission of the new generation. She has always believed in the law of attraction, where in every meaningful endeavor, every person willing to believe and put in effort can achieve each other’s breakthroughs:
“Many people often tell me, ‘Bella, without your empowerment, Taiwan’s second-generation circle would be very different.’ I say, it’s definitely not like that. I am happy to play the role of empowering, allowing capable and willing individuals to have a greater impact, but this is certainly not a one-person task but a ‘collective effort’!”
Pragmatically returning to the new-generation entrepreneurs, Bella Wang concludes by reminding them that business development, especially in the current era of ‘transformation,’ is like rowing against the current, and thus, they can only move forward continuously:
“Facing ‘transformation,’ the mission of young leaders is to continuously explore new business models and iteratively improve themselves in the three key terms of ‘innovation,’ ‘upgrading,’ and ‘transformation.’ We also welcome everyone to continue paying attention to TDEA as our long-prepared ‘Business Transformation Institute’ is set to launch later this year! In this shared learning journey, you will become a more influential leader through the exploration and practice of these three key terms!”
Business Transformation Institute is Now Enrolling
Business Transformation Institute, a transformation amplifier designed for Taiwanese enterprises, aims to integrate tradition and innovation to help businesses find new growth dynamics at critical moments of succession and transformation.
This place encourages new-generation entrepreneurs to accumulate experience and resources through internal and external entrepreneurship, while also facilitating the introduction of funds and resources to support the fusion and vigorous development of “first-generation” and “second-generation” entrepreneurs. Through this model, the institute not only serves as a growth platform for new-generation entrepreneurs but also acts as an amplifier for innovative thinking, guiding businesses to find their unique path of transformation amid change.
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