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Lessons learnt through leadership - Jack Ma (Bravehearts)
- 1. Lessons learnt through leadership : Jack Ma Chinese entrepreneur, investor and philanthropist (Source:Wikipedia.org) School of Business – Conestoga College, Brantford MGMT 8330 – Sec 6 – Organizational Leadership Group Assignment: Leader Profile Presented to: Presented by: Donna Needs Bravehearts D.o.P: 2019/02/05 Source: Google Images
- 2. Contributions and summary 2 Chapter Element Presenter Slides # A. Introduction Jeel Mistry 3 – 8 B. LeadershipTraits &/or Intelligences Aarti 9 – 14 C. Leadership Style and Behavioural Assessment Malkeet Singh 15 – 21 D. 2 Contingency theories Jaspreet Kaur Sidhu and Lokesh Kumar 22 – 29 E. Bibliography Team - Bravehearts 30 – 32
- 4. Life Founder, Alibaba.com Birth: October 15, 1964. Hangzhou, south-eastern China. Childhood: Rode bicycle everyday in lure of conversing with strangers Education: Flunked examination two times at university Employment: Got rejected by dozens of employers including KFC, finally hired as an English lecturer 4
- 5. Work Alibaba.com – Founded April 4, 1999 in Hangzhou after 4 years of successive failures in business ventures. Funding – Tried to obtain capital from SiliconValley, rejected every time for running an unprofitable business in online marketplace Present of Alibaba – one of the largest e- commerce retailers in the world with market cap of US$352.28 billion as of Dec 19, 2018 (Wikipedia.org) 1 2 3 Inexperienced in computers and coding. Failed in first two ventures Opened an apartment office with $ 60000.00 in hand along side 17 friends. 5
- 6. How he inspires? Whatsoever is inspirational about him is also motivationally aspirational. 6 Attributes of his leadership style: • Foresightedness in Innovation – opportunities that you cannot see are the real opportunities, as per his belief. • Humbleness and Adaptability – admits limitations and seeks avenues to improve them. • Positive Attitude – Poised to focus on achieving success in results. • Perseverance – Determined to walk for that extra mile to reach at the top in business and philanthropy • Resilience – Never whining, always working upon opportunities. • Passionate apprentice and public speaker – Always concentrates upon knowing great words to infuse motivation into his workforce Leadership oriented working style: • Understanding people – Apprehends expectations of his people. • Customer is the King - Values customer’s feedback in high regard. • Democratic management model – impartial in nature, constantly asks for employees’ feedback • Adaptive to change – willing to push beyond the limits to acquire change and implement it for organizational success.
- 7. Awards and recognition Trophies, ranks, certificates…. Top 10 Business Leaders of the year – China Central TV, 2017 25 Most Powerful Business people in Asia – Fortune Magazine, 2018 One of the world’s 100 most influential people –Time, 2018 Asia’s Hero of Philanthropy – Forbes Asia, 2018 30 Most Powerful persons in the world – Forbes, 2017 Entrepreneur of the year – Asian Awards, 2015 7
- 8. Influential Legacy • Philanthropy – does it through the Jack Ma Foundation that endeavours in pioneering wellness of education, ecosystem and residential health (Wikipedia, 2019). • TunnelledVisionary – 0.3% of total revenue of Alibaba reserved for the unborn to be spent on addressing climate change. • Ethical tradesman – waged a war against greed by fighting counterfeit production. Brought in “Sesame Rating System”, AI software that helps identify credible business owners based on a sellers’ rating. • Criticism is evolution – Believes failure is inevitable in journey to success but giving up is not.Tries to think out of the box all the time. 8 Photo credit: UNclimatechange | Flickr
- 9. 9 - Aarti
- 10. Attributes (to name a few)… 10 • Openness – to hearing innovative ideas from employees or ant one else. • Curious – building employee to employer relationship. • Empathetic – respects confidence of his employees and appreciates their work. • Enlightened – disagrees that he’s a rich person and believes not in flaunting his wealth, instead helps others become capable enough to start generating their own wealth and wellness in its pursuits.
- 12. Instances to support the GQ theory 12 1. When he decided to make alibaba.com website, he had 24 members in his team and only one member agreed with his idea and remaining 23 members disagreed with him. However such hurdles did not stop him and he successfully made the site and gained popularity. 2. When he heard about the internet for the first time from America back in 1995, he made a decision to do the a business associated with the internet, even though he lacked knowledge in computers. 3. His childhood full of hardships and immense experience with failure has made him more humble and empathetic towards the society in general and employees in particular. E.g. his endeavours are defined in helping the people out by providing them with an e-platform to conduct business through automated interface. On the founding day of Alibaba, he gave generous stock option packages to the first staff (George B, 2015).
- 13. Instances continued 13 4. Ma anxiously reiterates that China has lost its spiritually driven values in its DNA when Mao Zedong put an end to the existence of Confucianism and other practices. His vision is to infuse a culture of values, sense of purpose and thoughtfulness in belongingness into the coming generations.
- 14. Instances continued 14 5. Every person on earth who has ever met him can clearly sense lucidity in his thoughts and enlightenment in his mind on what he aspires to achieve and inspires to follow. He is an affable person and authentically open to innovation, creation and new experiences. E.g. When he started his company back in 1999, he envisioned it making to theWall Street and when he did, when his company’s Initial Public Offering (IPO) went out in history as one of the largest in United States at its time. Also, it was revealed that before his company came to be known worldwide, the secondary students employed by the company received honorary shares from the man himself (Lu, 2018).
- 17. 17 Transformational Leadership style Sporting, inspiring and humorous person. Employees feel comfortable while working in Alibaba, since he has created an energetic and happy environment in the company. His employees admire him as a authentic leader. The annual talent show calledAlifest is organized as a cultural gala to bring out the best in employees.On its 10th completing year, Jack dotted a casual Rock & Roll enthusiast get up to do a karaoke of his favourite songs.
- 18. 18 Visionary leadership style Jack Ma has a very strong belief that artificial intelligence will change the entire world in the forthcoming days . He possesses crystal clear vision about E- commerce , and artificial intelligence.
- 19. 19 Jack Ma interaction modes Twitter • Jack Ma with his followers via one of the most popular websites of social media Twitter • Tweets near about 482 • Flowers 72.2k • Flowing only 319 Facebook • He has made a Facebook official page named Jack Ma @ AlibabaJack • 142496 people like this page • 148404 people follow it
- 20. 20 Motives of Jack MA He has an aspiration to turn the world towards artificial technology. He wants to run small scale business under the banner of Alibaba in order to generates more jobs around the world He always inspires his flowers ,mates and employees .
- 21. Where could he stand apart by improving? 21 One grey area or weakness that he does possess is being too friendly or over-emotional. Sometimes it comes in the way of taking result-oriented strict decisions which if not done could hamper your potential prospects of success (Chowdhury, n.d.). Also, over-reliance on his subordinates might lessen his influence and ultimately, respect for his ethical ways of doing business (Chowdhury, n.d.). Bold suggestions – He must be able to deduce the timing of when to empathize. Otherwise, he might be robbed of his own magnanimity He must maintain a fine distance from his followers for a couple of times in order to legitimize authorization of power and influence.
- 22. 22 Leader – Member ExchangeTheory (LMX) Fiedler’s Contingency Model + Situational Leadership - Jaspreet Kaur Sidhu and Lokesh Kumar
- 23. Part 1: LMX Theory 23 • Dyadic : Mutual exchange occurring in a leader and his follower • Influential in follower’s responsibility, decisions, work ethics and performance. • Accessibility to resources of the leader and the follower wins over his trust. • Beneficial in promoting a positive environment to the subordinates and impart overall organizational effectiveness.
- 24. 24• Based on Dulebohn et al. • Source - Wikipedia
- 25. 25 Jack Ma’s Approach to LMX He believes your words should add weight to what you’re trying to communicate exactly to your subordinates, followers or employees. And he rewards his employees with equities, shares and promotions. He believes in hiring right fit for the job. E.g. once he was interviewed on distinction between a leader and a follower. His response was that one must recruit employees in superiority of expertise than oneself. A simple rule he embodies in his vision is unity in diversity. He believes in mobilizing people for the right cause under a unique goal at the right place and the right time. Giving up is a failure in itself, as he says. He hosts Alifest every year to unearth unique talents in his employees and how they could cater to a variety of alternate solutions to problem solving.
- 26. Part 2: Fiedler’s Contingenc y Model + Situational Leadership Model 26 • Instantaneously, Fiedler’s Contingency Model and Situational Leadership is applicable to Jack Ma in a variety of situations. • As we all know he’s a people’s person, he helps them out in identifying their own fit. E.g. he offered a platform on Alibaba for people to start their own search for customers for a way to lead their business by themselves. • He told once publicly that he believes that your competition teaches and not standardization. Instead of oversimplification through methodologies, innovation through imagination should run the creative horses in our minds (Chowdhury, n.d.). This reflects on his creative intelligence demonstrating presence of mind.
- 27. Least Preferred Co- Worker Scale Analysis 27 • High-LPC leader Task People High-LPC Motivational Hierarchy (from classroom lecture) • As discussed already, he is a people oriented person. He inspires them to find their own calling and suitability to the roles they want to fit in. • He finds the right people for the job and then works towards completing tasks successfully. End results is usually a streak of successes for him.
- 28. Situational Favourability 28 • As per textbook figure, it can be said that Ma might possess low authority over his followers but practical instances are quite contrary to what it is being suggested here. • Three sub-elements in situation favorability to his advantage: Leader-member relations – cooperative Task structure – assigns right fit depending upon situational demands Position power – yes, he does as he is highly respected for his ethical tradesman ship and concern for empowering lives
- 29. Instances of situational leadership 29 Way back in 2003, China was suffering from the SARS (Severe Acute Respiratory Syndrome). Jack told his employees to operate from home in order to prevent them from contracting the disease (Alibabagroup.com, 2019). Behaviour wise, it can be said that he was not ready to put the lives of his employees in danger just for running his business profitably. But simultaneously, while other businesses were suffering, Alibaba operated at ease and earned money like normal days of business. He is highly capable of adaptability to change. Initially, he wanted to start selling directly to the consumer as an e-commerce firm in Alibaba. But fast paced environment meant that he knew it already that his company wouldn’t be what envisioned for initially. So he changed the model in empowering small business owners to sell directly to their potential customers by providing them a platform through automation or technology.This is how the journey of Alibaba began.
- 30. 30 Alibabagroup.com, (2015). Alibaba Group. Retrieved: 29 January 2019. Available at: https://www.alibabagroup.com/en/about/history?year=2013 Basicmahiti.com, (2018). Jack Ma - Inspirational to many young dynamic and ambitious. Retrieved: 29 January 2019 from: http://www.basicmahiti.com/2018/06/jack-ma.html Chowdhury, F. (n.d.). Background of Jack Ma. Retrieved: 29 January 2019. Available at: https://www.academia.edu/8339253/Background_of_Jack_Ma George, B. (2015). Jack Ma: lessons on global leadership. Retrieved: 29 January 2019. Available at: https://www.weforum.org/agenda/2015/10/jack-ma-lessons-on-global-leadership/ Diarystore, (n.d.). Jack Ma Alibaba Founder Success Story | Amazing Quotations. Retrieved: 29 January 2019 from: https://www.diarystore.com/inspire/jack-ma-alibaba-founder-success-story-amazing-quotations Husain, H. (2018). 10 Leadership Secrets of Jack Ma that Shaped Alibaba’s Roaring Success. Retrieved: 29 January 2019. Available at: https://blog.taskque.com/leadership-secrets-jack-ma-alibabas/
- 31. 31 Kataria, P. (2016). Jack Ma: Founder of Alibaba.com. Retrieved on 29 January, 2019 from: https://www.slideshare.net/PratikKataria/jackma-64202123 Leader-Member ExchangeTheory. Retrieved on 29 January 2019 from Wikipedia.Available at: https://en.wikipedia.org/wiki/Leader%E2%80%93member_exchange_theory Meah, A. (n.d.). 40 Inspirational Jack Ma Quotes on Success. Retrieved on 4 February, 2019 from: https://awakenthegreatnesswithin.com/40-inspirational-jack-ma-quotes-on-success/ National University, n.d. Jack Ma – Final. Uploaded by National University, course: LAW 304 on Coursehero. Retrieved: 4 February, 2019 from: https://www.coursehero.com/file/11992054/Jack-Ma-Final/ Shultis, J. (n.d.). 30 Life Lessons From Chinese Billionaire Jack Ma. Retrieved: 29 January 2019 from: https://www.lifehack.org/articles/productivity/30-life-lessons-from-chinese-billionaire-jack.html Social Media profile feed from: https://www.facebook.com/AliBabaJack/ https://twitter.com/plaid_jackma?lang=en
- 32. 32 Wikipedia.org, (n.d.). Jack Ma. Retrieved on 29 January 2019 fromWikipedia.Available at: https://en.wikipedia.org/wiki/Jack_Ma Yizhen, L. (2018). Lessons From ‘Crazy Jack’: An Extraordinary Leader In Style And Beliefs. Retrieved: 29 January 2019. Available at: https://leaderonomics.com/business/5-leadership-lessons-from-jack-ma