Abstract

In 2012, Alibaba Chairman Ma Yun and Wanda Chairman Wang Jianlin entered into a ¥100M VAM (Valuation Adjustment Mechanism) agreement to challenge the possibility of e-commerce grabbing a 50+ percent share of the Chinese retail market by 2020. In the following year, Gree Chairman Miss Dong Mingzhu entered into a ¥1B VAM agreement with MI Chairperson Lei Jun on Gree’s traditional marketing model and MI’s e-marketing model. Symbolizing the clash between the new and old thoughts of economic and industrial transformation, the two events provide an insight into how to innovate in corporate technology, markets, organizational management and business models in the Internet revolution. How to initiate new innovation and innovation management in an Internet era is emerging as the leading edge of research and practice.