According to Mr. Shih, Wangdao is about leadership in organizations large and small, and based on the three core concepts: value creation, the balance of interests, and sustainable development. It also calls for leaders to pay equal attention to the “six-aspect values,” which are: the visible values of tangible, direct, present; and the invisible values of intangible, indirect and future.
Six aspects of Wangdao
In order to practice Wangdao, leaders have to consider first what values he could create for the society. As has been mentioned above, the importance of the organization lies in creating social values. However, if we look at the value only from the direct, the tangible and the being perspectives, we could be prone to blind spots.
Hence I put forward 6 aspects to create social values in the process of practicing Wangdao. Leaders are suggested to take the following 6 aspects into consideration when creating social values, namely “the direct”, “the indirect”, “the tangible”, “the intangible”, “the being” and “the future”. Leaders should not only consider creating the direct, the tangible values at the time being, but they should take values of the indirect, the intangible and the future into account.
To creation values via innovation
There are two important cores for Wangdao: to create social values and to balance the interest of stakeholders. And my motto is “to challenge difficulties, to break through bottlenecks and to create value.” Whenever I get to the bottleneck which impedes the realization of social values, I always take breaking it through as my determined aim. It is of course a thorny job for a leader, otherwise it does not possibly fall upon me to make a decision. I hold that as soon as I overcome the bottleneck, I will create values.
And in order to create values, we have to be innovative. As for innovation, I summarize three important factors, i.e. value, creative ideas and efforts to work on the ideas. First, whether values can be created is the guiding principle to any innovation; second, creative ideas should create additional values since there is not any additional value for the old; and finally, the creative ideas should be workable to create values.