The crucial task for businesses hoping to appeal to the "new generation" was to create "vibes" around their products, a Swedish business professor told delegates.
And sports management specialist Mr Frank Dick said "passion and motivation" could be more important than talent in pursuing success. Using video clips from athletics, soccer and gymnastics competitions, he said these factors characterised "winners" in sport and could be applied in business.
Prof Kjell Nordstrom of the Stockholm School of Economics said technology and efficient organisation and management systems were "necessary but not sufficient" to secure success. The key factor, he argued, was to make products "attractive" to customers.
If applied successfully, Prof Nordstrom argued that this principle would enable firms to create "temporary monopolies", offering "unique" products. He cited furniture firm Ikea, mobile phone company Nokia and the Body Shop chain as examples of this.
Mr Dick said success should be based on setting and achieving goals, with the ultimate objective characterised as "the dream".
"You've got to be able to focus on your dream and your milestones at the same time. If all you achieve is milestones, you get incremental development only . . . Teamwork is using your personal genius."
