.*
9/8/18 paul oyer: fei-fei li : lei zhang - WE WELCOME q&a THE MORE MATHEMATUCAL OR HUMAN THE BETTER chris.macrae@yahoo.co.uk MA stats cambridge 1973

2016 bangladesh schools go edigital nationwide :: brookings video :: Bangla video :: brac how's that
1/1/21 we have entered the most exciting decade to be alive- by 2030 we will likely know whether humans & tech wizards can save futureoflife- tech surveys indicate odds of accomplishing this greatest human mission would be lot less without spirit of a chinese american lady at stanford-...
bonus challenge for those on road to glasgow cop2 nov2021: future 8 billion peoples want to value from 2021 rsvp chris.macrae@yahoo.co.uk

GAMES of world record jobs involve
*pack of cards: world record jobs creators eg fei-fe li ; fazle abed ...
*six future histories before 2021 starts the decade of empowering youth to be the first sustainable generation.

problem 99% of what people value connecting or doing to each other
has changed (and accelerated in last three quarters of a century- while laws, culture and nature's diversity and health are rooted in real-world foundations that took mother earth 1945 years to build with -and that's only using the christian calendar

1995 started our most recent quater of a century with 2 people in Seattle determined to change distribution of consumers' markets - the ideas of how of bezos and jack ma on what this would involve were completely different except that they changed the purpose of being online from education knowledge to buying & selling things -
nb consuming up things is typically a zero-sum game or less if done unsustainable- whereas life-shaping knowhow multiplies value in use
from 1970 to 1995 knowhow needed to end subsistence poverty of over a billion asian villagers was networked person to person by women with no access to electricity grids- their number 1 wrjc involved partnerships linked by fazle abed - borlaug's crop science was one of the big 5 action learnings -its person to person application saved a billion people from starvation; the first 185 years of the machie age started up bl glasgow university's smith an watt in 1760 had brought humans to the 2 world wars; when people from nearly 200 nations founded the united nations at san francisco opera house 1945 chances of species survival looked poor- miraculous;y one mathematician changed that before he died 12 years later- john von neumann's legacy was both the moon race and twin artificial intel labs - one facing pacific ocean out of stanford; the other facing the atlantic out of mit boston .. who are top job creating economists by practice - health -refugee sports green hong kong..where are top tour guides around billionaire 1 2 around poverty,,, we the peoples ...

Friday, July 5, 2019

guangchang fosun

Guo Guangchang: What I’ve Learnt from Other Masters

Volume 4, 2014
On April 26, Fosun Chairman Guo Guangchang spoke about “Strategies for Chinese Companies Going Global: Role Reversal in Integrating Resources” during a Master Class, one of a series of lectures being held to mark CEIBS’ 20th anniversary. He drew heavily on lessons he’s learned from some of China’s best known business figures. Here are excerpts from his speech. 
“Looking back on my path as an entrepreneur, I think it’s been important to listen to others and try to learn lessons during conversations. During the past 20 years I’ve learned a lot from conversations with many major business figures, and I’d like to share with you my thoughts about three of these discussions.
The first conversation was with Vanke’s Wang Shi. We talked about specialised operations vs diversified operations. The conversation made me realise that an enterprise can do well in multiple industries, through investment, and it won’t necessarily be unprofessional, because it can hire the best teams in those industries to handle operations. What’s most important is that it should properly allocate its resources, like Fosun has done as an investment group. So in my view, for an investment group, the source of capital is very important. Of course talented employees and project knowledge are also important, but knowing how to allocate resources is crucial. An investor should always ensure that he makes the right decision about these important factors, instead of having the core team being stuck operating one single industry.
Based on the theory of diversification, extraordinary success in one industry may be a huge help for new investment in another. But those fixed mind-sets and stereotypes brought by success might instead block the new investment. So while it’s worthwhile to be a good multi-industrial investor, it might not be possible to be a good multi-industrial operator. To be a good multi-industrial investor we have to hire industry professionals to handle the job and look at it as an investment – that’s what I learnt from my conversation with Wang Shi. That’s why Fosun now clearly defines itself as an investment group.
In the future, we will move ahead on two “tracks”, one is to be a financial group with the insurance business at the core, while the other track is to be a China-rooted global investment group with a multi-industrial foundation. Those are our two goals, which were inspired by the conversation with Wang Shi. I really appreciate that he was willing to share his insights with me, though he’s more well-known than I am. I’ve found that those Chinese business figures that I admire most are all willing to share their thoughts with and listen to each other, instead of exerting power over others. That’s really important.
The second thought-provoking conversation is one I had with Alibaba’s Jack Ma. It was about tai chi, which may seem to have nothing to do with corporate management. Jack Ma introduced me to my tai chi teacher, who he actually thought isn’t a good teacher. But I worked very hard with my teacher to learn Yi tai chi – even though Ma said I didn’t have to. Yi tai chi focuses on the accuracy of every motion, by which one can facilitate the circulation of chi and blood, and be fully vitalised through this process. However, with the help of his tai chi teacher, who is an authentic master, and relying on his gifted high-level perception, Ma focuses more on spirit enlightenment and chi circulation than on accuracy. In my view, he’s practicing with his mind instead of his body.
Talking with Ma reminded me of two well-known concepts in Buddhism – sudden enlightenment and enlightenment in meditation. People with high-level perception and who are gifted with wisdom, even if they’re not educated, might achieve success by sudden enlightenment. But for those who are not that gifted and intelligent, like me, what shall we do to get enlightened and achieve success? We need to believe in enlightenment in meditation.
The same goes for tai chi – it’s not about right or wrong. It’s about gift, natural talent. And it also applies to entrepreneurship. Entrepreneurs such as Jack Ma and Tencent’s Ma Huateng can achieve success by sudden enlightenment. They suddenly found a successful business model and received a market value of over a hundred billion. However if we think it through, we will know that their stories are legends that cannot be learnt and created by everyone.  But you can learn from me. Why? Because Fosun began from scratch in 1994. At that time we had no money, no technology, no MBA. Though we didn’t achieve a quick and huge success as Alibaba and Tencent did, we took it step by step and also became successful.
Feature, Vol 4, 2014
Going global
In 2004, we were determined to open up the financing channels; that was the only way we could be a top-ranked investment group. So what did we do? We spent three years getting listed in Hong Kong. Fosun International was listed in Hong Kong in 2007, and it had a positive impact. At the very least, it solved the financing problems because by going public we could enjoy the global financing platform. Besides, it laid a solid foundation for us to go global.
However, gaps still existed, and our capital was still insufficient for what we needed for future development. So after the company was listed in 2007, we began to think about which future path we were going to take, and where we should look for breakthroughs.
Then we decided on our main areas of focus for the future. One focus is to enhance our investment capability. Because we had already listed in Hong Kong, I thought it was time to go global. At that time we faced fierce investment competition, and our competitors were not just Chinese companies. Blackrock was also a competitor then. They were good at integrating global resources, which was exactly what Fosun lacked. We were at a disadvantage in competition, and we had to reverse the situation. So we came up with a strategy, which needed other Chinese companies to go global and integrate global resources. We all knew that to win the competition, we had to be clear about our strengths and weaknesses. Our advantage came from knowing China better than any outside company could, and our capability to help global companies develop in China.
But what about our weakness?
Our weakness was the lack of a truly global vision and organising capability when it came to global resources. So we needed Chinese companies to go global and integrate global resources, and through this we could give full play to our advantages.
Method to the madness
Some people have advised me to establish a corporation with a set of clearly defined systems which we can successfully apply forever. But I think that’s absolutely impossible. I prefer to establish a corporation with a lot of vitality, even if it’s a bit messy in its organisational structure. This kind of corporation is much better than one that seems perfectly organised but is really going downhill. Many companies fail even when they seem perfectly organised.
Throughout Fosun’s history, every new employee feels the disorder within the company and might not even know whom they should report to after one month on the job. I now spend a third of my time on recruitment.  At the end of job interviews, I usually ask candidates if they have any questions. Some ask me about the project, our KPIs, our goals and their future prospects. Then I will tell them how Fosun rolls. In Fosun you tell me what I need to provide for you, and I will provide the money, our platforms, and our resources, whatever you need. You can even ask me to assist you, and I’ll always be ready to help, but only if you tell me your goal. If you can’t tell me your goal, or your goal doesn’t seem like a good one to me, then I won’t let you go ahead with the project. Sometimes when two of my teams separately tell me their plans to do the same project, I will encourage the two teams to work together on it. The point I’m making is that openness ensures a company’s lasting vitality.”
Feature, Vol 4, 2014

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