Tsai I-Chien, “Director of S.H.I.E.L.D.”, Leads New World Entrepreneurs in Global Battle

At the beginning of 2024, the global situation continues to be fluid and unpredictable, with market fluctuations caused by economic changes, as well as various risks and opportunities brought about by technological innovation and political uncertainty. This has caused many next-generation entrepreneurs and startup leaders, who are facing succession issues, to furrow their brows deeply when thinking about their next steps.

“Stop overthinking! Just go for it,” said Tsai I-Chien, the former Deputy Executive Secretary of Taiwan’s National Development Fund, in an interview with 《The Icons》:

“Walk with your eyes open! Better to take small steps than to stop.” Tsai I-Chien, affectionately known as “Director” by young entrepreneurs, said with a smile.

Tsai I-Chien’s nickname “Director” originates from the “Director of S.H.I.E.L.D.” in Marvel movies, a well-known figure around the world who leads and inspires heroes from various fields in films and television series. This includes the Norse god of thunder, a genius billionaire, the king of Wakanda, the Sorcerer Supreme, and others, working together to eliminate all elements that destabilize the world, ensuring peace on Earth and a future for humanity.

For decades, Tsai I-Chien, the “Director”, has been dedicated to integrating resources both domestically and internationally. Using his influence, he has also assembled young entrepreneurs into a formidable “superhero team” to collectively address the challenges of the era, enabling numerous businesses to evolve and turn the page through successive challenges.

Eight Generations Unite to Face Transformation: Everyone Must Join Forces

“The political and economic landscape is constantly shifting, making it increasingly difficult to establish new factories, and family businesses can no longer rely solely on the traditions of the past 50 years to sustain themselves. What businesses need is continuous innovation; ‘transformation’ is the key to survival,” Tsai I-Chien emphasizes, pointing out that we are in a unique era requiring extensive cross-generational communication:

“This moment in time is truly special. You can see people from eight different generations participating in the corporate ecosystem at the same time. These individuals are inevitably faced with the challenge of ‘transformation’ and even joining in this revolution together. If these people do not become ‘one team’, it will undoubtedly be more difficult.”

Tsai I-Chien particularly points out that entrepreneurs need to understand how to integrate resources with one another, while also keeping a keen eye on technological advancements to innovate and adapt at all times. He uses the United States as an analogy: “The reason the United States has been able to create a successful economy is because of its continuous cultivation of new industries, creating and developing new opportunities. From the internet to electric vehicles, it’s impossible for a single company or industry to succeed on its own. This must include the entire industrial chain, from top to bottom and bottom to top, embracing an open and innovative mindset. By fostering a mindset of investing in the future to drive the entire ecosystem, everyone can succeed in transformation together, and the era can turn the page beautifully.”

Tsai I-Chien: “Steady Small Steps Forward” – The Indisputable Path to Sustainable Transformation

When discussing transformation, Tsai I-Chien specifically reminds businesses to recall the “Who Cares Wins” report jointly released by the United Nations and the Swiss Government in 2004. The report advocates for capital markets to incorporate environmental protection, social responsibility, and corporate governance (ESG) into their investment criteria, thereby pushing companies towards sustainable development. However, while simplifying complex issues into scores or ratings can indeed accelerate the promotion of these ideals, without robust policies and strategic corporate actions, it may merely end up as a comforting slogan:

“Businesses that excel in ESG can not only win the favor of current consumers but also become a source of strength for each other in the collective revolution towards ‘transformation’. And when it comes to taking concrete steps, the concept I often share with everyone is ‘steady small steps forward’.”

Tsai I-Chien says that choosing to take one large step at a time may not effectively break through the “generational threshold”. Therefore, whether it’s succession issues, transformation challenges, or young entrepreneurship, it is not advisable to act hastily when facing challenges, but rather to first determine the direction. He uses a famous quote from Einstein to metaphorize the wisdom of “steady small steps forward”:

“If I had an hour to solve a problem, I would spend 59 minutes defining the problem and one minute solving it.”

He emphasizes that although it involves “steady small steps forward”, it still starts with setting a clear overarching goal, then gradually adjusting and achieving it, and continuously exploring the correctness of the direction through the process. In other words, the first step in solving a problem is to identify the essence of the problem, rather than rushing to find a solution.

“I also want to remind you not to think that simply moving forward is enough. As you progress, you must continuously learn and arm yourself with new weapons, including finance, law, and merger tools. Always think about how to expand into new markets. Never let yourself stop, keep yourself in a flexible state, embracing constantly updated knowledge and skills. This way, your progress is genuine!”

Aligning Corporate and National Goals: A Shortcut to Sustainable Transformation

Tsai I-Chien also reminds us that when talking about transformation, or facing any unknown challenges or opportunities, one key to a company’s longevity is aligning with national goals, while also focusing on both the present and future.

“Companies have their own perspectives, and policies have their own scopes. Entrepreneurs must have a keen sense of current affairs, not only to be clear about their immediate steps but also to understand and predict future development trends, thus allowing for early planning and flexible response. In this regard, the Taiwan Digital Enterprises Association provides a great support platform, enabling the new generation of entrepreneurs to bolster each other in their journey towards the future.”

Tsai I-Chien likens the Taiwan Digital Enterprises Association to a catalyst, not only fostering co-creation, co-learning, and co-winning among businesses and entrepreneurs but also making commitments to the next generation and creating international connections. This enables businesses undergoing transformation, like the well-known TSMC and, in recent years, industries such as biotech and green energy, to develop rapidly by following major trends.

“If the previous generation has achieved results, then it is time to wholeheartedly empower the next generation with opportunities and stages!” What new chapters will Tsai I-Chien, the “Director” in everyone’s hearts, and his “superhero team” write? Let’s wait and see.

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.

Recommend for you:

Navigating Sustainable Transformation! Catherine Huang, Sustainability Director of Victor Taichung of Taiwan, Chairperson of TDEA: Persist in Doing the Right Things, Leading the New Generation of Entrepreneurs to Transform Fundamentally

Is the Global ESG Standard a Mess? TXA Private Board Secretary General Steve Hsu: Become the “Market Definer”!