Motivation Literature review Research gap Research questions Research framework Methodology

1. Role of Traditional Chinese Philosophies and New Product Development under Circular Economy Considerations on Performance: Empirical Evidence from Chinese Private Manufacturing Enterprises Lin WU Lecturer in Business Management Nachiappan Subramanian Tinghua Shen Angappa Gunasekaran SBC Second Annual Conference and Learning and Teaching Forum 26th October, 2017 SBC Campus, Shanghai

2. Agenda Motivation Literature review Research gap Research questions Research framework Methodology Results Contributions Limitations Teaching and learning

3. Motivation New product development (NPD) has significant impact on business performance. The concept of Circular Economy (CE) is becoming increasingly popular since the 1970s. Product design based on the right cultural values plays a pivotal role in realizing the desired effect of CE. Chinese society has been profoundly influenced by the traditional philosophies of Confucianism and Taoism.

4. Literature review • CE and NPD • A CE is defined as “a regenerative system in which resource input and waste, emissions, and energy leakage are minimized by slowing, closing, and narrowing material and energy loops” (Geissdoerfer et al., 2017). • “At the enterprise level, CE practices encompass environmental protection requirements on reduction, reuse, and recycling (3Rs) with an emphasis on achieving the dual environmental and economic performance goals” (Zhu et al., 2010).

5. Literature review • NPD process (ideation & commercialization) and performance (time-to-market & profit) • The traditional stage-gate NPD model (Cooper, 1984) • The more recent concurrent model • Time-to-market • Profit • The Knowledge-based View (KBV) of the firm • VRIN resources and competitive advantage

6. Literature review • Traditional Chinese philosophies • Confucianism (hierarchy; collectivism; Guanxi) • Taoism (freedom; individual talent and creativeness; human-nature harmony)

7. Research gap NPD & performance? YES NPD with CE considerations & performance? NO The role of philosophies? NO

8. Research questions • What is the impact of NPD with CE considerations on performance? • How is the impact affected by Traditional Chinese philosophies?

9. Research framework Philosophies NPD with CE Performance

10. Research framework Taoism Confucianism TTM NPD with CE Profit

11. Hypotheses H1: NPD efforts with CE considerations has a positive effect on TTM. H2: NPD efforts with CE considerations has a positive effect on profit. H3: The positive moderating effect of Chinese traditional philosophies on the NPD – TTM link is greater than Confucianism or Taoism alone. H4: The positive moderating effect of Chinese traditional philosophies on the NPD – profit link is greater than Confucianism or Taoism alone.

12. Methodology Quantitative Data collection:survey Sample: 130 responses Data analysis: PLS-SEM(SmartPLS 2.0)

13. Results

14. Results

15. Contributions • Theoretical • NPD with CE considerations and performance • Role of Chinese traditional philosophies in the NPD process-performance link • Practical • The findings provide insights for Chinese private enterprises on the establishment of a favourable environment for NPD

16. Limitations Small sample size Single region Limited attributes of philosophies

17. The study in the context of teaching and learning Teaching can be viewed as a NPD process Students academic performance and job prospects are measures of the effectiveness of teaching The role of cultural values

18. Thank you very much!