Further Read: How to Truly Innovate like Elon Musk? We should incorporate that mission into our cultures and implement it at every level to promote a better world. Ma states that leaders do not have to sacrifice our sense of humor just because they are in charge. And that figured topped 25 billion dollars last year. So, what makes jack a powerful leader? According to him, change is the best plan and so that everyone should embrace changes. This feat can largely be attributed to the efforts and leadership qualities of Mr. Jack Ma. It is mandatory to procure user consent prior to running these cookies on your website. Indeed it takes a rare person to accumulate a total net worth of over $20 billion while maintaining a sense of perspective, through a devoted work ethic. Jack Ma solely focused on making Alibaba a B2B portal in the start, and only after that vision was realized did he strive to turn it into B2C and C2C as well. https://steemit.com/recommend/@cooper10510/jack-ma-s-leadership-style-with-8-keys-to-success-in-alibaba, http://www.lifehack.org/articles/work/8-keys-success-from-jack-self-made-billionaire-and-ceo-alibaba.html, http://www.investopedia.com/university/jack-ma-biography/jack-ma-success-story.asp, Undifferentiated Marketing Strategy – Definition, Advantages, Disadvantages, and Examples, Leadership Qualities, Skills, and Styles of Elon Musk. Jack Ma knew from the beginning what his aspirations for Alibaba were, and how to turn them into reality. He unites them under a common goal rather than uniting them under his own supervision. Use this failure to improve yourself, and the next time, you can do better than the previous. Mr. Jack Ma is a famous successful businessman in this decade, with a great leading and perspective, which has a powerful inspiration to a lot of people who learn through his story. 18 billion dollars on November 11, 2016 alone. And his mission is to regenerate China’s sense of purpose and culture which were lost under Mao Zedong’s rule. When he was asked what separates a leader from an employee he said, “Your employee should have superior technical skills than you. Taking pride in your work and not taking no for an answer are keys to Mas business philosophy. Perseverance pays off “Never give up! Beyond his economic success, Crazy Jack is an exemplary figure that embodies the persona of a responsive and responsible leader. Looking for more help? Ma has given his employees generous equity shares so they get to benefit from Alibaba’s success too. Dejected people resort to complaining and whining, and take all pitfalls they encounter at the start of their venture negatively. Be an Authentic Leader: Ma possesses a strong sense of character which helps him build loyalty and strong foundation on which his business Alibaba grows. It is the firm belief of Jack Ma that a good leader should possess ample foresight. He Unites People under a Single Goal: Ma knew that it is not possible to convince every single employee, business partner and investor to trust him or to listen to him no matter how hard he tries. He applied for an admission in the Harvard University and got precluded 10 times! He accepted this open-heartedly and changed his approach to his advantage. With the success of Alibaba, Jack Ma proved this right time and time again. He is a Chinese business magnate who is the founder and executive chairman of Alibaba Group. Jack Ma is responsible for founding one of the most visited online companies in the world – Alibaba . Alibaba was not an instant success and Jack Ma had faced a lot of difficulties while starting this business. Ma believes this will bring him success and it will inspire people around him to work hard for achieving the goal. At a crucial time when Alibaba was looking to outplay eBay in the USA, Yahoo! More Rest Means Greater Productivity. His fascinating leadership qualities, skills, and styles made him possible to turn his dream true. Jack Ma’s Leadership Approach. A cluster of ideas can muddle up the way ahead and blur your sight. He was rejected to get KFC job and also, he got rejected from Harvard University when he applied for 10 times. Jack Ma is one of those rarities. One the most unique aspects of Jack Mas business philosophy is the idea of friendly competition. In leisure time, he likes to use the Internet and spend time with his family. These cookies do not store any personal information. which also help him to run his business in a successful way. Most people find it hard to envisage how many times a successful person such as Jack Ma had to face rejection and crushing disappointments. What Are The Pros And Cons Of Starting A Freezone Company In UAE? Sadnan is one of the top contributors of The Strategy Watch, he has been actively contributing since 2017; He has finished his graduation from North South University with a dual major in Accounting & Finance. His keys to success are motivating and true for anyone, be it the entrepreneur of the smallest businesses or an aspiring billionaire magnate. Asian Award honored him with the Entrepreneur of the Year award in 2015. That’s why people around the globe are eager to follow in the wake of his stellar leadership qualities and discover the reason behind his thriving success. Jack Ma thought of turning the day into something huge and Alibaba cashed on it big time over the decades. Creating Alibaba platform was a step to the change for Jack Ma which leads him to the success. He is Democratic Leader since he gives importance of his employees’ ideas. Ma intended to use the influence of internet & Alibaba to facilitate more globalized trades across the borders beyond China and to help SMEs (Small and Medium Enterprises) across the world. He also stared Alipay, a third-party online payment platform, which has become the largest Chinese company and giving PayPal a run for its money in some major markets in the world. Ma continues to shape the growth and development of e-commerce as executive chairman of the Alibaba Group, which earned an annual revenue of CN¥101.143 billion in 2016. To remain one step ahead of the competition, and anticipate the repercussions of even the most seemingly insignificant of decisions, are the keys to his success. Here are 10 of his most exceptional leadership traits that you can adopt so you can have an idea of how Jack Ma built his huge empire in less than 2 decades: With Alibaba, Jack Ma started offering a platform to individuals and small businesses to find suitable customers for them. In comparison, Walmart has a current market cap of just over 294 billion dollars. We also use third-party cookies that help us analyze and understand how you use this website. Develop a Mission: Jack Ma possesses a prolong & grand mission. He possesses illustrious leadership qualities, skills, and styles, some of which are being discussed here. Known for his great personality in both his leadership style and his beliefs, here are some leadership lessons from Ma. Syed Hammad Husain is a Digital Content Producer and Editor at TaskQue. Ma does not see his competitors as his enemies, rather t… Invested US$ 1 billion in it and that was the turning point in the history of Alibaba. Alibaba is a successful Internet based business. When he was creating a new business, he initiated changes in the process. Born in September of 1964 as Ma Yun, Jack founded the Alibaba Group in April 1999. His humble beginnings and astronomical rise to the top is proof enough that there is a huge potential in the marketplace. Alibaba was also not an instant success in its early years but moved gradually to the position where it is today. Even though the idea wasn’t novel, Jack Ma provided an online portal specifically targeted for the people of China, and it became a huge hit within a few years. According to Ma, “giving up is the greatest failure. This is a company goal rather than a leader’s goal. Environmental Factors of PESTLE Affecting Businesses, Social Factors of PESTLE Affecting Businesses, Economic Factors of PESTLE Analysis Affecting Business Organization. Bold but timely decisions have made Jack Ma a visionary leader. As leaders, we must cultivate our goals and visions to improve our companies and to improve the lives of our employees. As of April 2016, Alibaba has surpassed Walmart as the largest retailer in the world. He is passionate about reading books, mostly related to current affairs, memoirs, latest trends in technology and sports. Leadership Qualities and Style of Jack Ma Yun. So, what makes jack a powerful leader? Only a marketing genius like Jack Ma can work such magic! Instead you should look for the right opportunities to make things happen for you. Knowing what you want to achieve and having the drive to chase it down will not only put you on the path to success, it will inspire those around you to work hard for that common goal. Feel free to use the comments section below. Jack Ma, who not only flunked in math as the student, but also failed twice for securing admission in collegeand struggled enough for admission in his third attempt at Hangzhou Normal University, challenged the world of leaders that leader is someone who is not prone to the biggest hurdles but he is who, who can revive with visionary charismatic qualities and he is person who believes in consecutive struggle and inventing the opportunities when management styles are changing, structural changes are … Jack Ma’s success can be deemed almost a fairytale. There were times when Jack Ma didn’t taste success even after putting in his best. He follows leadership styles which also help him to run his business in a successful way. document.getElementById("comment").setAttribute("id","a06275bbf49f37604792a1a345b6515f");document.getElementById("c84621d8c0").setAttribute("id","comment"); Get things done faster with TaskQue and increase your Business Productivity. Another outstanding … But Jack Ma never lost his hope. Leadership Lessons from Jack Ma 1. The people working for Alibaba and the affiliated companies know that they have to follow the steps of their leader, as positive attitude coupled with industrious work is valued by Mr. Jack Ma. He follows transformational Leadership style as well by empowering his employees and motivating them to do more to achieve success. This category only includes cookies that ensures basic functionalities and security features of the website. If they don’t, it means that you have hired the wrong person.” Jack Ma focuses on the skills of employees before him and look for people who have a comprehensive know-how of carrying his vision forward. 21 Inspiring Leadership Quotes That Will Get You Through Tough Spots, Top 15 Leadership Qualities That Make Good Leaders (2020), 5 Link Building Tactics For eCommerce Websites, Why Outsourcing HR Functions Leads to Greater Productivity, 7 Distractions that Impede Modern Business Growth, How to Track the Progress of New Hires: A Managers Guide, How to Fall Asleep Fast? Indeed it takes a rare person to accumulate a total net worth of over $20 billion while maintaining a sense of perspective, through a devoted work ethic. Accepting this and changing the approach is another quality and skill of his success. In 2014, Forbes ranked Ma the 17th richest person in the world. Ma never gives up if he fails one thing repeatedly. 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