Number of words: 106 Jack’s mother, Cui Wencai, worked on a factory production line. His father, Ma Laifa, worked as a photographer at the Hangzhou Photography Agency. But both share a passion for pingtan, a form of Chinese folk art performance that involves the singing of ballads and comedic routines punctuated by the sound of … Read more

Number of words: 102 Most companies bear the imprint of their founders, but few more than Alibaba. Jack Ma’s outsize influence stems from his passion for teaching. Although he left the profession two decades ago, Jack has never really stopped being an educator. He used to joke that in his case CEO stood for “Chief … Read more

Number of words: 91 As a form of escrow, Alipay diffuses trust throughout Alibaba’s e-commerce empire. Consumers know that when they pay with Alipay their accounts will be debited only when they have received and are satisfied with the products they have ordered. Only then, after freezing the amount on the account, will Alipay release … Read more

Number of words: 160 Alibaba’s websites are popular in part because, as in the United States, shopping online from home can save time and money. More than 10 percent of retail purchases in China are made online, higher than the 7 percent in the States. Jack has likened e-commerce to a “dessert” in the United … Read more

Number of words: 222 One of the biggest mistakes I have made during my career was coining the term profit centre, around 1945. The truth is that inside the business, there are only cost centres. The only profit centre is a customer whose check hasn’t bounced. We know literally nothing about the outside, and yet, … Read more

Number of words: 45 I have often advised managers that a 20 – 1 salary ratio is the limit beyond which they cannot go if they don’t want resentment and falling morale to hit their companies. Excerpted from Page 103 of ‘Managing in the Next Society’ by Peter Drucker