Business Assignment Jack Ma
Business Assignment Jack Ma
Ma Yun, also referred to as Jack Ma, was born on September 10, 1964, in Hangzhou,
Zhejiang, China. He is a Chinese businessman who served as CEO of the Alibaba Group, the
parent company of Taobao.com, a popular retail website, and Alibaba.com, a business-to-
business marketplace. Jack Ma once thought English was a beautiful language. He served as a
tour guide for foreign tourists visiting Hangzhou while still a teenager. Jack Ma has twice failed
the entrance exam for the Hangzhou Teacher College. One of his weaknesses is math. In 1984,
he began his studies, and he finished them in 1988, earning a bachelor's degree in English. He
taught English in the Hangzhou Institute of Electronics and Engineering of Hangzhou Dianzi
University from 1988 until 1993. In 1994, he established his first business, the Haibo Translation
Agency, which offered English translation and interpreting services. On a 1995 trip to the US on
behalf of the administration of Hangzhou City. After utilizing the Internet for the first time, Ma
realized that the lack of Chinese Web sites offered a significant commercial opportunity. After
his return, he established China Pages, one of the earliest internet companies in the country that
created websites for Chinese companies.
Because he believes in it, Jack Ma wants to profoundly alter globalization. Jack Ma wants to
fundamentally alter globalization because he believes in it. Due to the fact that globalization
hasn't yet fully occurred, many individuals are against it. Given that 60,000 firms dominated
globalization in the previous 20 years, imagine the scale of that number if it were to rise to 60
million businesses. In the end, Jack Ma had developed a platform for small businesses and
entrepreneurs to begin global operations, allowing individuals to take pleasure in travel while
purchasing, selling, paying for, and delivering items. That is the concept behind a new platform
made by Ma's company, Alibaba.
Additionally, you must put in 12 hours a day, six days a week, in order to succeed at
Alibaba Group. Owner of the largest e-commerce site in China, Jack Ma, expects this of his
workforce. According to a post on Alibaba's official Weibo account, Ma purportedly said before
in an internal meeting that the company doesn't require employees who enjoy the routine of an
eight-hour workday. He championed the well-known 996 work ethic, which is defined as
working seven days a week from 9 a.m. to 9 p.m. Being able to work 996 hours a week, in the
opinion of China's richest man, is amazing.
TWO (2) skills of the leader
With his expertise in change management, Jack Ma will be able to steer his company to
success. He began modifying the process as he established a brand-new business. He thinks that
accepting change is the best course of action for everyone. Jack Ma altered the world and
amassed money by creating the Alibaba platform. When he put the changes into practise, Jack
Ma discovered that he needed to encourage creativity and comprehend the goals of his clients if
he wanted to grow his business. He was well aware of the difficulties he would face in trying to
effect change at his company.
Additionally, Jack Ma's capacity for maintaining a positive view in any situation has helped him
rank as one of the world's most successful CEOs. Despite his best efforts, Jack Ma consistently
failed to find success. When he was young, he experienced a lot of rejection. He submitted ten
applications for admission to Harvard University but was denied both the employment with KFC
and admission. But Jack Ma persisted in maintaining his self-assurance. These rejections spurred
him on to work even harder the next time. Jack Ma had several difficulties when he originally
launched this business, and Alibaba did not immediately experience prosperity. His positive
outlook contributed to the success of his business.
Two leader’s achievement
The World Economic Forum honored Jack Ma a "Young Global Leader" in 2001. China
Central Television and its viewers named him one of the "Top 10 Business Leaders of the Year"
in 2004.
Besides that, in 2005, Fortune named Jack Ma as one of the "25 Most Powerful
Businesspeople in Asia." He was named "Businessperson of the Year" by Businessweek in 2007
and one of the "World's Best CEOs" by Barron's in 2008.
In May 2009, Time magazine listed Jack Ma as one of the top 100 most influential people
in the world. In a column he published about Mr. Ma's accomplishments, Adi Ignatius, a former
senior editor at Time magazine and current editor-in-chief of the Harvard Business Review, said
of him: "Meeting Jack Ma, you may be excused for believing he's still an English instructor. The
elf-like and delicate voiced Chinese Internet entrepreneur speaks English with ease. Ma,
however, is the founder and CEO of Alibaba.com, which he runs as one of the biggest B2B
online marketplaces and an eBay substitute for companies involved in international trade. Ma is
44 years old. Alibaba and Ma's online consumer auction site Taobao.com was so well-liked in
2006 that eBay shut down its own Chinese website. He was listed among "China's Most
Powerful People" by BusinessWeek in 2009, while Forbes China listed him among the "Top 10
Most Respected Entrepreneurs in China." Jack Ma received the "2009 CCTV Economic Person
of the Year: Business Leaders of the Decade Award."
THREE (3) leadership styles
Jack Ma is an authentic leader. With his sense of a strong character, he was able to build
Alibaba on a solid foundation of loyalty. Ma claims that just because we are in power does not
mean we have to give up our sense of humor.
In addition, Jack Ma is able to evaluate situations from the perspective of the client. As
opposed to approaching his company from a technological standpoint, Jack Ma can see his
products through the eyes of his customers. By doing this, he will be able to provide the best
service possible.
Furthermore, Jack Ma is skilled at setting goals and making significant efforts to achieve
them. His objective is to change China's viewpoint. The firm' success benefits the owners, who
are also its employees.
Other than that, Jack Ma knows when to act modestly. Instead of choosing individuals
with lower skills, he chooses workers with technical and other qualifications that are superior to
his own. You develop as a person, a leader, and a company in this way.
At last, Jack Ma is an expert at bringing people together. Nobody at your workplace will
ever take you seriously or pay attention to you, no matter how long you work at it or how hard
you try. Integrating partners, investors, and employees around common goals was Jack Ma's
strategy. If everyone is focused on the success of one person, they won't exactly be on board, but
when everyone is working toward a single, shared goal, amazing things might happen.
TWO (2) benefits of the leadership style that the leader possesses
Initially, less time spent at work. According to Jack Ma, most people will only work four
hours a day, possibly four days a week, in the upcoming thirty years. That is equal to a
workweek of 16 hours. According to the billionaire, it is a natural result of more tasks that were
previously carried out by people being replaced by technology. He notes that future workers will
only put in 4 hours a day, in contrast to his 8-hour workday now and his grandfather's 16-hour
shift in the fields. Similar claims have been made by Elon Musk, the CEO of Tesla and SpaceX,
who asserts that automation would provide individuals more time to do exciting work and
engage in leisure activities.
Besides that, Jack Ma added that we have additional time to travel in addition to that.
People will be able to travel more since automation will minimize the amount of hours that
people need to work. Ma predicts that the average person visits 30 places over their lifetime, but
that figure might increase to 300 in the future.
FIVE (5) sources of leader power
Firstly, Jack Ma used legitimate power, He promotes the abilities of past employees and looks for
people that have extensive understanding of carrying out his vision. He brings together a team of
exceptionally talented individuals. "Your staff ought to be more technically adept than you," said Jack
Ma. He wasn't afraid to hire people who are smarter than him, so if they aren't, you chose the wrong guy.
The majority of business owners allow their personalities to prevent them from reaching their maximum
potential. You don't have to be the smartest person in the room to be a good leader. A leader should be
prepared to listen to and take notes on what his team has to say. Both the company's prosperity and your
personal sense of self will improve as a result.
Besides that, Personal qualities of the leader are what give the organisation its power. power that
comes from having coworkers and subordinates that are loyal, respect you, and love you. Jack Ma's
success tips may help and inspire everyone, from aspiring billionaires to small business owners. He
emphasises attitudes and brings people together to work toward a common goal.
Furthermore, Coercive Power is the power of a leader has to punish or control. Coercive power is
the capacity of a leader to punish or exercise control. Because it raises the possibility of experiencing
repercussions for poor performance, coercive power can be unpleasant. For instance, Jack Ma might
influence other people's actions by chastising and threatening them.
Other than that, expert power is that based on special knowledge, skills, and expertise that a
leader. At the famous Forbes Global CEO conference held in Singapore on Tuesday night, the former
chairman of Alibaba was awarded with the Malcolm S. Forbes Lifetime Achievement Award.
Last but not least, the capacity of a management to provide or deny concrete benefits like as
wages, raises, bonuses, and other financial incentives. Ma inspired the staff by fostering an attitude of
being a resourceful little business ready to take on giants. He tells a group of workers on camera, "We
will make it because we are young and we never, never give up,"
Conclusion
In conclusion, Jack Ma is a successful person in the world. In his life up to this point, he has
accomplished 23 things. We may learn from Jack Ma to never give up, no matter how many times we
attempt. No matter what challenges you encounter, you must not give up. Jack Ma submitted 31 separate
employment applications, all of which were denied. When he went to KFC to apply for a job, they told
him he wasn't qualified.
1.