Learning from the Most Successful

On the 18th this month, CommonWealth magazine began its annual “CommonWealth Economic Forum.” The two-day event brings together top Asian leaders in diverse fields to explore “new thinking and new engines of Asian growth”. PwC Taiwan was pleased to be strategic partner to CommonWealth magazine in holding this year’s forum.

Listening to the main speakers, one could learn much from the management thinking and wisdom demonstrated by truly excellent enterprises. It was also a chance to better understand the global and Asian economic outlook, as well as the sudden rise and future opportunities of corporates in Asia (especially in the greater China region).

The talks and lectures were excellent, but I was in especially profound agreement with the views expressed by TSMC Chairman Morris Chang in his talk, “Post Financial Crisis World: New Thinking Globally, New Opportunities for Taiwan.” He noted that in an economic crisis and downturn, the most important thing for a corporation is maintaining vitality and competitive strength, not saving every last cent. Looking back at the financial crisis that shook the global economy in 2008 and 2009, a time when we saw some companies, including overseas CPA firms, resort to unpaid leave or even layoffs and salary cuts, we were first among Taiwan’s CPA firms to announce a policy of no staff or salary cuts. This fulfilled our social responsibility, and was a concrete way of seizing the opportunities presented by the business cycle.

Mr. Chang noted as well that the economy had rebounded strongly, which should lead us to regain the confidence we had before, and to possess the courage and spirit to do something big and something difficult.

I was also deeply impressed by Alibaba Group founder Jack Ma, one of the world’s most successful entrepreneurs of the last decade or so. Just in exchanging business cards with him I could sense his sincerity and amiable accessibility, there being nothing in his disposition to suggest a world-class corporate leader. I noticed that he used any odd piece of paper to jot down the highlights of what other speakers said. When he finished his own speech and walked back to his seat, he seemed still to be deep in thought. His movements – modest yet showing utter concentration – were for me the best testament to the man Jack Ma and the Alibaba organization he leads as it ceaselessly innovates, surmounts difficulties, and makes dreams possible amid intense, often cruel, global competition.

A famous saying of Jack Ma’s is: “Today is cruel, tomorrow will be crueler. The day after tomorrow will be fine, but most people won’t live past tomorrow night, so you must strive every day in order to see the sun come up the next.” He believes that success means “being better, but also being different.” This happens to coincide with the principles of “seeking excellence” and “being distinctive” that PwC Taiwan has long upheld.

These are a few of the thoughts I had after participating in the “CommonWealth Economic Forum.” Thank you for letting me share them with you.