Year: 2024
Type: article
Abstract: In recent years, as China transitions into an aging society following Japan and South Korea, interest in leveraging opportunities within what is commonly referred to as “the silver economy” has grown significantly among various industry stakeholders. Many Chinese enterprises are now at a stage where they are actively exploring potential markets associated with population aging trends, notably within healthcare sectors, which are adapting their strategies towards addressing needs specific to elderly populations, thereby reshaping their current business models accordingly. However, there is still a lack of comprehensive studies that examine how such shifts impact overall corporate frameworks. This paper takes Vishee Medical Company as an example to analyze the existing business model of Vishee Medical and its transformation and innovation under the "silver economy" context. The long-term strategic planning for the "silver economy" has led to a gradual increase in Vishee Medical’s sales data. The results also indicate that Vishee Medical’s business behavior changes include expanding its own product market, prioritizing research and development of products related to aging, and actively promoting a customer-centric corporate philosophy. Building upon the discourse on the “silver economy”, this paper aims to investigate potential business opportunities, advances theoretical research within the context of China's “silver economy”, and offers a solid theoretical foundation and recommendations for the market development of China's “silver economy”.
Author: Chen Li
Institution: Xi’an Jiaotong-Liverpool University
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405590811