New Wangdao
by Stan Shih/Acer Founder & Chairman of StanShih Foundation
(Practiced since 1976/Proposed in 2011/Repositioned in 2022)
The “Wangdao” philosophy 2500 years ago was first proposed by Mencius, the representative Confucian figure of the Warring States period, as an appeal to the nations as the King’s Way. The new definition of Wangdao in the contemporary world was unveiled in 2011. The so-called “New Wangdao” is not the King’s Way, but a way for leaders of groups big and small, the Leader’s Way who cares for the “world.”
New Wangdao’s Three Major Core Beliefs
New Wangdao’s three major core beliefs are “Value Creation, Balance of Interests, Sustainable Development.” Only through continuous value creation and a sustained construction of a mechanism for value co-creation and balance of interests can we attain the goal of sustainable development.
General Theory of Hexa-aspect Values
In order to create value, it is important to propose the “General Theory of Hexa-Aspect Values” which emphasizes that value creation must come from the hexa-aspect to view the overall value of an object. Besides the visible values of tangible, direct and present, we must place importance on the invisible values of intangible, indirect and future. Leaders, however, must create value for the organization and society not only in terms of visible value, but also in invisible value such as organizational culture, training talent, branding, research and development, etc.
Balance of interests
In addition, “Balance of interests” is also one of the important core concepts of the New Wangdao. Value requires many stakeholders to create value together. Therefore, besides the process of value creation, a mechanism enabling value co-creation for all stakeholders must be constructed. To ensure a balance of interests, this must be a cooperative mechanism and platform where all parties involved have mutual trust. Therefore, achieving a balance of interests must not point towards “absolute balance” but must be oriented towards “relative balance” or “dynamic balance”, requiring a weighted concept to make adjustments.