There is a spiritual leader in the Taiwanese business community known as the "God of Management". As early as 1984, his total capital reached more than 4.5 billion US dollars. At its peak, its net worth reached US$11.3 billion. He is Wang Yongqing, the founder of Formosa Plastics Group.
Perhaps it was caused by the extreme poverty of that era, and he was accustomed to thrift and frugality. As a result, he repeatedly emphasized on many occasions: "Save one yuan is equivalent to making one yuan net." This sentence is regarded as a classic by employees of Formosa Plastics Group and is called "Wang Yongqing's Law" by domestic and foreign managers.
Everything is about "rationalization"
Genius businessman Gates believes that spending money is like cooking, it must be just right. Wang Yongqing, the "God of Management", also has this principle: "Save one yuan is equivalent to making one yuan net", and pay attention to "rationalization" in everything.
Wang Yongqing's life is quite simple. The principle of eating is "simple". His favorite is home-cooked braised pork rice. He wears it very "neat" and needs to wear a pair of sports shoes for several years. Every time he takes a plane, he must be in economy class.
Wang Yongqing works more than 100 hours a week, but he keeps himself in good health and energetic through fitness every day. He used towels for exercise every day for 27 years.
In an exclusive media interview, the reporter found an interesting "small move" of him: when making coffee, use a small spoon to scoop some coffee and wash the container of the creamer balls, and then pour it back into the coffee cup, without wasting any waste.
It is said that when he was dining in Mailiao, when he asked about a braised egg selling NT$10, he intuitively thought it was too expensive.
Wang Yongqing's life details show his persistence in "rationalization".
In the period when Formosa Plastics scale continued to expand, he created a scientific way of employing people, the most incisive of which are "stress management" and "reward management".
According to the convention, he would have a light meal at the company at noon every day. After the meal, he would call on the supervisors of various departments to listen to their reports, and then raise many sharp and subtle questions, and ask the supervisors to be clear about the big and small matters of the departments under his jurisdiction. Therefore, supervisors have to work at least 70 hours a week, and many suffer from stomach problems.
Wang Yongqing relies on this pressure management method to promote business operations, and at the same time impart extremely generous rewards.
There are two ways to reward for Formosa Plastics: material and spiritual. Materials include year-end bonuses and improvement bonuses, as well as bonuses that Wang Yongqing gave to cadres privately, called "another package".
For general employees, the practice of "creating profits and sharing employees" is adopted. Employees know that their efforts will pay off in the end, so they are willing to increase their investment.
Wang Yongqing's "rationalized" operation and management made Formosa Plastics employees loyal and allowed the company to enter the Fortune 500 world, and the title of "God of Business" also came from this. But Wang Yongqing said: "I dare not take this as it is ordinary, it's nothing, it's very ordinary."
In his opinion, his management strategy is very ordinary, just like building a house, every brick and tile requires a solid foundation, so that every layer will be stable.
"Nothing hard in the world"
Wang Yongqing had many entrepreneurial experiences before founding Formosa Plastics. When he was 9 years old, his father was bedridden and began to use his little shoulders to help his mother share the burden of life.
15, when Wang Yongqing graduated from elementary school, he first worked as a handyman in the tea garden, and then worked as an apprentice in a Xiaomi store in Chiayi County, southern Taiwan for one year. The next year, he made an important decision in his life, to open a rice shop and become the boss.
At that time, the rice processing was very rough, and there were a lot of bran shells, sand grains, and small stones in the rice, which were used to by buyers and sellers. But Wang Yongqing found a breakthrough here. He would pick up the miscellaneous items before selling rice. The buyer got benefits and became a repeat customer after a while.
However, the rice shop business did not become popular because of this. The reason is that other old rice shops have accumulated a lot of old customers and cut off most of the customer flow.
For this purpose, Wang Yongqing established a small management system. "I have to provide services when selling rice. The first thing is that the price cannot be higher than others, and the second thing is that I have to be attentive."
Every customer has to record the date of delivering rice, and then ask how many people this family has and how much each person eats. Based on this, they estimate the approximate time they will buy rice next time. At that time, they will take the initiative to send the rice.
Not only that, Wang Yongqing also went door to door to sell his rice, and also washed and sifted rice for residents for free. Because Wang Yongqing had thoughtful ideas for customers everywhere, everyone spread ten to ten, and ten to hundreds, and the business became better and better. Until later, the capital accumulated to a certain level and founded his own rice mill.
from rice milling From the factory to Formosa Plastics, Wang Yongqing's habit of paying attention to details has not changed. Originally, the chairman only cared about some big decisions, but he still did many small things himself, and he still reads the reports. Most of the Formosa Plastics system was written by himself.
Wang Yongqing went to bed at 10 o'clock every night, got up at 2:30, and worked more than 100 hours a week. Many major projects and plans were thought out in such countless quiet nights.
Wang Yongqing often said: "We must always be vigilant. A little relaxation will lead to a recession. We must often be vigilant of being rich for three generations. "For decades, Wang Yongqing has always believed that "nothing is difficult to do in the world" and has never relaxed in business.
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