Wang Shiliang; Leng Zhengyang; Dou Junsheng; Bo Qiushi; Zhang Zhongyuan; Zhang Gang
(School of Management, Zhejiang University, Hangzhou 310058, China)
Abstract: This case describes the business model innovation of Wensli Group. The whole silk industry’s fluctuation in 1980s and 1990s places Wensli into difficulties. Nonetheless, Wensli digs out the history and culture attribute of silk as Chinese culture prevails all around the world in late 1990s. On the understanding of that, Wensli embeds history and culture elements into its silk products and thus starts its business model innovation from merely fabrics manufacturing to culture creating. In 2008, Wensli presents the world a gorgeous medal ceremony costume for Beijing Olympics Games, which is a perfect combination of silk and Chinese porcelain culture. Besides, Wensli plans to extend this business model to two new industries – silk decoration material and silk arts, on revealing the environment-friendly and art attribute of silk respectively. The successful innovation of the business model not only upgrades Wensli’s business portfolios, but also lightens hope for other silk enterprises to create value through business model innovation.
Keywords: business model; business model innovation; silk enterprises; Wensli
