Wang Jianlin is a giant in the real estate world, and the owner of Dalian Wanda Group. This company includes luxury hotel properties, commercial real estate, and e-commerce ventures. At one time, he also owned a big share in the European soccer club Atletico Madrid. His net worth is estimated at $14 billion.
Five Management Tips from Wang Jianlin
- Army Discipline
As a teenager in the early 1970’s, Wang spent several years serving in China’s military. The experience taught him toughness, sacrifice, and a desire to fight to victory. He points to a direct relationship between a military background and success, pointing out that many top Chinese entrepreneurs previously served in the military.
- Innovate and Differentiate
Wang takes important lessons from the successes won by such American companies as Starbucks, McDonald’s, and. YUM! brands. Each of these companies have succeeded because of their ability to create outstanding consumer value in unique ways. He believes that this is something any great company must do, regardless of industry.
- Stay close to the Chinese leadership
Wang has forged a very close relationship with the Chinese Communist Party. The initiatives that they pursue are the areas where he focuses his business. For example, overseas investments; after the State Council in 2014 released specifications urging private Chinese companies to go global, he pointed his businesses in the same direction.
- To Be Number One, Instill a Distinctive Corporate Culture.
To create this corporate culture, Wanda has created an internal website and monthly company magazine that is “the core media for spreading Wanda’s corporate culture.” Each month, this internal media publishes touching success stories about Wanda employees that embody aspects of corporate culture. Also, Wang selects one book each year for all employees to read.
Outstanding employees get a bonus paid vacation and an invite to a splashy annual conference to rub elbows with Wanda company executives.
- Don’t read books on corporate philosophy
Each company must define its own essence and create a unique culture that is right for its goals, industry, leadership. Simply borrowing a culture from another company will not achieve the desired end.