Jack Ma, the founder of Chinese internet giant Alibaba, is one of the most colorful and controversial figures in the business world. His life and management strategies have attracted the attention of many entrepreneurs and researchers.
Childhood and education
Jack Ma was born into a family that did not have much income. It all started with failures: Jack repeatedly failed exams at schools and universities. An attempt to enter Harbin University ended with four failures. But his diligence and desire to study led to success at Hangzhou Teachers College.
Communicating with foreign tourists and learning English opened the doors of world culture and business for him. After graduating from college, Jack Ma worked as an English teacher, while also doing translation work.
First steps in business
It was translation work that led him to his first business project – a translation austria mobile phone number list company. The unsuccessful experience of opening his first company and then the China Yellowpages project did not stop him. He searched for his niche for a long time and finally turned his attention to the possibilities of the Internet.
In 1999, Alibaba was founded. With a mission to simplify trade between small and medium-sized businesses in China and around the world, Jack Ma and his team attracted their first major investments from SoftBank and Goldman Sachs. Over time, Alibaba became one of the largest online platforms for business.
Strategy and Philosophy
Jack Ma has always preferred to think globally, focusing on creating value for customers and developing innovative solutions. His business philosophy is based on three pillars: customer, employee, and shareholder (in that order).
Ma prioritized customer satisfaction and encouraging talent and creativity among his employees. According to him, if the first two conditions are met well, shareholders will also benefit.