After another 20 years, we meet again
On the Spring Festival Gala in 1998, singer Faye Wong and her buddy Na Ying sang a song called "Meet 98". The song quickly sang north and south, and throughout the whole year thereafter, the whole Chinese dance drew near to the demon Among the melodies.
In 1998, on the 20th anniversary of the reform and opening up, Wu Xiaobo set the theme for this year as' entering the landmine array 'in his' 30 years of stirring up'. At the time of his speech, Premier Zhu Rongji was shocked by the fact that Premier Zhu Rongji was answering reporters' questions during the two sessions of that year That sentence: 'No matter in front of the mine array is still abyss, I will be indomitable, hesitant, spared no efforts, after death.
Premier Zhu Rongji's position profoundly revealed the complex and difficult year of the reform. After Deng's southern tour for six years, the rapidly developing market economy had a sharp collision with the old system of economic governance. In that year, however, Penning was helpless Leave, Chu Shijian be jailed.
In such a drastic change, what kind of long-term solutions are there to be for Chinese entrepreneurs? What are these thoughts about how 20 years are still going after us in reforming the Sham Shui Po and still pursuing the modernization of economic governance? A foregone conclusion of wealth.
Fortunately, the "China Business" in that year, "dialogue with the boss," the report format, a true record of 20 years ago, Chinese entrepreneurs think, in commemoration of the 40th anniversary of reform and opening up today, we believe that such a back Hope is useful, it is necessary.
Is for the foreword
Host's words
Lenovo 's association
When asked to write a report writing Lenovo Group, I suddenly felt unable to write down because the Lenovo Group is a very transparent business, there are numerous articles on the association, many of them are very exciting classic classics from the late eighties , The report on the Lenovo Group began to see the newspapers, the past ten years almost never stopped .This on the one hand, Lenovo is doing well, on the other hand, Lenovo Group attaches importance to public opinion .But again, then propaganda There are still many companies that can associate with Lenovo, but now there are a few? Really can be described as very rare. Think like this, but also think of Lenovo is an indelible business, always make people have imaginative local.
Every successful business has its own development reasons, but Lenovo's calm and self-knowledge is beyond the reach of others .Liu Chuanzhi said: 'What can not do? Money can not do without money; make money But can not afford to cast money can not do; rich earn money also cast but no reliable person to do, such a thing can not do. "This kind of force to make the association to avoid the management of numerous attractive traps on the road Over the years, there have been ups and downs in China 's economy, how many companies have been trapped in the real estate industry, how many companies have lost their shares in stocks and futures, how many enterprises have been turning over in the process of large - scale diversification and how many enterprises have been developing rapidly In the management out of control and split it? The leadership of these enterprises can not be described as unsmooth, enterprises can not be described as lack of strength, perhaps the lack of this is calm and self-knowledge .But in the trajectory of Lenovo, but can always find this Commendable calm and self-knowledge.If there is an impulse in front of these temptations of temptation, Lenovo may not be today's association.
In his conversations with Liu Chuanzhi, we seldom hear exciting agitation, more analysis, even when talking about the future and ideals of Lenovo, he reveals astonishingly calm, without any extra feeling of emotion. Look, the success of Lenovo is indeed not by chance.Put forward the exciting slogan and the goal of natural importance, such as the cloud from the clout and there is no shortage of people, but there are only a handful of long-term business success.Chinese enterprises want To long-term development it? May wish more Lenovo Group experience from Lenovo.
What is the meaning of 'trade'?
Moderator: the survival of the information industry in the enterprise, to master the core technology is undoubtedly very important.Calc Technology in the hands of the Americans, so that it has always been in the world to maintain the initiative in this industry competition.In the face of China such a large In addition to their own survival needs, the national industrial enterprises have to shoulder the important task of rejuvenating the national computer industry, and many hope that Lenovo Group, the leading enterprise in China's computer industry, will also be able to create technological advantages and compete with large foreign companies However, according to their own actual situation, Lenovo developed a road of trade, engineering and technology development, which may have a gap with some people's expectations of association, but practice has proved that this is a successful road, the word "trade" led the way to Lenovo This is what many people want to know, please talk about it.
Liu Chuanzhi: Recently, some experts and scholars have conducted discussions on this issue. When we all compared together the paths of trade, industry and technology of the Founder's technology, industrial and trade roads and associations in Peking University, which one is more suitable for China's national conditions? In our opinion, There really is a profound truth in it, which is to be considered from two perspectives: one is from practice and the other is from reason.
From a practical point of view, Lenovo had a fairly large number of technology research centers in the late 1980s and early 1990s, and the phased results that were developed can be translated into dozens of products, the largest of which is 500 million, called multi-Han card, this product is still more market, and some Taiwanese manufacturers are still doing, but when we do it is not effective, why? Because there is no market development capability. First, the product itself Not in the market repeatedly run in, the performance and quality of the product should also get more opinions in the market; Second, the sales staff do not know how to sell in the market. Although Lenovo is engaged in sales started, and like We entrepreneurs who come out from the computer out of the sales, research market, but in the early nineties when we have not figure out how to form a large-scale sales, as well as mining the market, running the laws of emerging markets. The original sales staff only Will sell Lenovo Han Cards and IBM, when pioneering new products, I do not know where to start. The initial sales of Lenovo Han card, is all company-wide staff At this very top, including the deputy general level staff, though they did not find a law, things are still going on. For example, pyramid schemes are the first to chant slogans, swear and cheer up. Without them, Sitting at home stupid waiting, may not sell anything can be said that in the early nineties, although Lenovo has a certain ability to sell, but did not touch the law, so we either can not develop the product, or Is developed products can not be sold.
From the truth, China still lacks the soil for marketing commodities, such as the conversion of science and technology products into commodities, why do Americans do the same? Later, we understand that when Microsoft, Intel technicians engage in marketing, they are Long-term in a commercial society, the monasteries have long been a hitherto inexperienced, Chinese enterprises understand? Only like we come out doing these years, suffering from this to understand, this is a special case of China .China's long-term plan economy In the circumstances, a large state-owned enterprise engaged in sales is to open an ordering meeting. It is an outsider to engage in large-scale sales. Lenovo has only gained certain experience in recent years.
Also, I think the growth of Chinese enterprises should be studied in three aspects: First, the law of the development of the industry, such as engage in computer, is to engage in the network or hardware or software to go; Second, the law of enterprise management, that is, the business itself Thirdly, some special situations in China need to be studied, while in foreign countries the markets of other people are basically the same, there is no need to study special situations, and the management of enterprises in other countries is relatively mature. Therefore, they can concentrate on studying Industry rules, focus on 'technology', with the 'technology', there is this potential, there is this ability to promote the market, as Soros, he is the potential energy, for others to do Some scholars said: 'Technology can promote users, technology to guide market demand' .This is true, but depends on who to do.Fortunately, we do not have this potential today, either from capital or technology are Not enough, but can not stop, but also to this goal, how to do? Therefore, we engage in trade, industry and technology is to use 'technology' as a guide to the market as a basic means of 'trade 'For companies such as Lenovo is very important. We can compare Founder, Founder is starting from' technology ', but he is selling professional products, not universal products. I believe Founder today if you sell computers, But also to explore the experience of doing trade, it is because of different product backgrounds. If it is done in the layout industry, there are more than 20 individuals will be able to do the national market, but to sell the computer? Organizing large-scale propaganda offensive, large-scale market development capability, etc. Therefore, it is necessary for Chinese enterprises to make up the trade course. I can not say that this is a law, but for Lenovo, this road is very real If you say it more clearly: trade first, then large-scale industry to make it clear, and finally guide the market through technology.
After 1997, Lenovo gradually increase the technical content of products, such as our application software, shape design, motherboards, etc. The world really use 'technology' to guide the market there are several? That is, Intel, Microsoft, the other is By marketing, by trade, in order to use technology to guide the market, companies have strength.
Lenovo how to estimate competitors?
Moderator: The computer industry is a fast-growing industry, Lenovo in such a highly competitive industry has maintained a rapid development of more than a decade is not easy, but judging from the current situation, the future competition will be more intense, on the one hand abroad Large companies want to eat this market, on the other hand domestic counterparts in the competition, including several well-known domestic appliance companies have to enter the computer market, Lenovo how to treat the IT market, but also how to estimate these competitors?
Liu Chuanzhi: China's major rival of computer enterprises or foreign enterprises.China's computer market in 1990 sales of only 85,000 units, to 3.3 million units in 1997, the main reason for the rapid development of foreign companies in 1994 before and after the massive entry, stimulated Domestic computer demand because anyway, when the foreign computer is really better than the domestic, which makes all walks of life are daring to use the computer in the past users with the domestic computer is always afraid of the problem, and the large-scale foreign computer Entering changed the state, when domestic computers made up 50% of the domestic market and now make up 50%, but the current 50% is quite different from the 50% of the past, when foreign computers were stuck with documents and approvals Outside, and now is the result of market competition, competition with strong competitors for business development is good, this is my point of view, in addition, to see what the market before the competition.If the market is an immutable market, or do not Big market, the competition will be very cruel, is your eat more I eat less and I hope that the current computer market both competitive and joint, the cake bigger, this It is good for competitors.
You see, in 1990, the domestic computer market was only 85,000, up from 3.5 million in 1997 to 10 million by 2000, or maybe 5 million, depending on how the market is doing and what the market is about. Depends on how to solve the bottleneck restricting the market.Now the bottleneck impeding the development of the computer market is software applications, it should be from China and foreign software companies to bring the market bigger.As Intel is doing hardware, But he is very concerned about the development of China's application software, Microsoft has also made a lot of efforts in this regard.Lenovo and software companies not only for the cooperation of their own business development, but also to make the cake bigger, so in the market competition first Is to consider how to make the market bigger, and secondly consider their share of this is the combination of competition in the competition, according to market conditions to find the weak links in the IT industry to expand the market is our common request. Million units are good for everyone.
Therefore, in this case, the home appliance business into the computer industry is also good.Electrical appliances business has many features, such as their services, sales methods, etc., we are inspired.Now the competition in domestic enterprises is training, the future also To play abroad.
Moderator: Now the domestic price war played a very lively, appliance industry, the computer industry exists, some industries led to the price war the intervention of the relevant departments. Lenovo is how to see the price war?
Liu Chuanzhi: Lenovo took the lead in 1996, five price cuts, making the price of the entire domestic computer down.We think Lenovo's price reduction is to contribute to the development of China's computer industry.How to say? There are two points, first, then domestic The computer performance and price ratio is not as good as abroad when the foreign use of 486 when the domestic use of 386, and domestic prices are still higher than they are. This is dominated by foreign products, when the time comes, domestic enterprises have all the advantages that The situation came to an end, and now the most advanced machine is almost synchronized with foreign countries, and cheaper prices, which China's IT industry and users are good. Second, look at whether your price can be profitable, if it is long-term profitability , That is suicide.For Lenovo, the computer is the most profitable piece of the four major industries Lenovo, accounting for 60% .Therefore, look at the towel can not screw out the water, depending on the management level and work efficiency.
In addition, Lenovo also with other companies to the computer market to a healthy direction, for example, to promote the software.We are using software as an economic growth point, the software into the industry is a trend, to solve the bottleneck Can make big pie; And companies doing software at the same time, its own hardware development is also good; at the same time, the software itself is an important aspect of profit.Now one of the biggest software problems is piracy, which makes it difficult for software manufacturers to recover due Of the benefits, so reinvestment efforts will be reduced, can not make software products, the user is not satisfied, forming a vicious circle.Liaoning large-scale hardware production, bundled with the software can be carried out, which from the strategy The more heightened the degree of piracy, but also promote the development of intellectual property in China from a strategic perspective.
Moderator: Lenovo in the future how to engage in bundled sales?
Liu Chuanzhi: Lenovo in the future to engage in large-scale bundled sales, you can engage in two sets of software, a set of commercial, a set of home, you can bundle sales, but also supporting sales.
Lenovo is a state-owned enterprise?
Moderator: Clear property rights, management science is a basic requirement of the modern enterprise system.Now some countries engage in reform is to take the road of property rights clarity, and developed countries in the process of socialization, property rights and fuzzy trend. It has been said: 'Lenovo is a mystery' Perhaps one of the points is that the property rights of Lenovo did not figure out the property rights issue for a high-tech enterprises is not a very important issue?
Liu Chuanzhi: From Lenovo's main body, the CAS Institute of Computer is the major shareholder, this subject is called 'Lenovo Holdings', when the Chinese Academy of Sciences was originally invested 200,000 yuan is cast here, where the Chinese Academy of Sciences accounted for 65% of the shareholdings of employees will account for 35 % Legend Holdings controls a large company, Lenovo Group, which is a Hong Kong-listed company, all of our business here, we accounted for 68% of the shares here, the remaining 32% of social capital, the main Is a large foreign fund Lenovo Group has a lot of business below the Legend Holdings also have some of the following business, Lenovo Holdings business mature and then sold to Hong Kong Legend to get more shares.For example: Today we have a 3 yuan Bought 150 million shares, of which 50 million shares were sold by the major shareholders. 100 million shares were expanded. In the future, the stock price rose to 4 yuan per share. At that time, our shareholding ratio decreased from 72% to 68% Our major shareholders get 150 million in cash, listed companies take 300 million funds, money can do things. Hong Kong stock market is not very good, and so improved to sell the stock. Shares held down, Lenovo Holdings can good assets and then Sold For example, a laser printer (belonging to Legend Holdings) has a profit of 10 million yuan a year. When it is sold, it multiplies its price / earnings ratio by its profitability. If the result of the assessment is multiplied by 13, It becomes 130 million yuan, such as the stock was 1.3 yuan a share, we can exchange 100 million shares, which in turn increased the shares of major shareholders. So do back and forth, more and more money, Lenovo Holdings There is strength to raise the chickens to lay eggs to sell chicken.
In short, Legend Holdings is a purely state-owned enterprise, which controls a public company called Lenovo Group, which made 68% of its profits to its major shareholders.
Moderator: That Chinese Academy of Sciences had voted 200,000 yuan, then how much revenue?
Liu Chuanzhi: Chinese Academy of Sciences to 60 million yuan in revenue this year, the Chinese Academy of Sciences get the money after it re-use of the computer to the transformation of the package on the recovered funds are used in this regard.
Moderator: That Lenovo employees shareholding will have 35% of the shares is how is it?
Liu Chuanzhi: We call this a 35% stake, is the Chinese Academy of Sciences to the employee stock ownership, not shares to everyone's head .If the shares of the company will be scattered.Equity means that there is a 35% profit Assigned to everyone's head, so that the sense of ownership of employees has greatly enhanced.You will find in Lenovo, where the main person in charge are around the age of 30, how to become like this? Because the old comrades who started with me are back Come down, the old comrades can be smoothly retreated from the deputy general posts with this 35% have a direct relationship.35% of this 35% is for the 16 start-up veteran, because after the rights and interests to protect them to continue Share the fruits of their own undertakings so that there will be no such situation as the leaders of state-owned enterprises will not be able to refrain from their retirement that day, and 35% will be given to the general old comrades and the remaining rights and interests will be given to newcomers later. Ground back, new people can go smoothly, to ensure that the Lenovo Group's career development.
Lenovo does not exist When the general state-owned enterprise operators in the business to make the booming, approaching retirement found nothing after their own down, and take some illegal means for personal gain, the so-called '59-year-old phenomenon.' Therefore, Lenovo Ownership is a very important issue, and it is important for any business.
Lenovo can avoid mistakes?
Moderator: China's reform and opening up 20 years, during which there are countless companies or entrepreneurs rise or decline, like a superficial cloud, such as Shenyang dragon, Zhuhai giant, are in the rapid development of enterprises appear making mistakes, so that enterprises appear violent shocks. Lenovo has been steady and rapid development, Lenovo is how to avoid making mistakes?
Liu Chuanzhi: This question is well asked, in fact, Lenovo's mistakes are constant, but Lenovo in the development of special emphasis on three elements, is to build team, set strategy, with the team. This is our business management is the core part. Is the first one, with a good team will be able to set a good strategy, trade, industry and technology is one of our strategy.Len's strategy is five strategic lines: First, adhere to the diversified development in the field of information industry ; Second, insist on doing business mainly in the Chinese market; thirdly, lay the industrial foundation and carry out scientific research and development; fourth, strengthen the promotion role of subsidiaries in research and development; fifth, open up channels for stock market financing. Implementation is another matter, just as the Battle of Northeast China set to play Jinzhou, if the troops can not fight down or not, this is the problem with the team, and the development strategy is different.With the team divided into five aspects: First, the organizational structure; Second, the rules and regulations; Third, incentives; Fourth, corporate culture; Fifth, personnel training. These strategies will help Lenovo successfully achieve the goal of 3 billion US dollars in 2000 to become a real The international advanced level of high-tech enterprises.
The team that we just said is very important. This is an important factor in avoiding mistakes in decision-making. Here are three factors to consider: First, we can form the leading prestige only after we have a team. For example, Everything is done, because there is opposition to anything, a person can not form a strength, and a team can form a leading prestige. Second, a group can form a collective wisdom, no matter how to say, a person's intelligence is always limited . Third, with the team, there will be a number one control constraints. No restrictions will not work, such as Shenyang Feilong enterprises is the lack of constraints in this area: First, personal considerations are not comprehensive, the second is a person want to do There is no restriction, the third is to make a decision and then push does not move, which is prestige is not enough.You see, all enterprises made a major mistake is not the formation of a leading group, or ostensibly, but in fact did not form a team Lenovo formed a team, in each department has a planning office, in charge of various functional departments, such as business development department, human resources department, public relations department, its role in addition to specific In addition, there is the role of the company's think tank, and some of the people in this department are very experienced and can guide the decision makers at the company to make decisions and help the leaders of the company to understand the internal and external environment. This department can not only support leadership decision-making, but also promote decision-making Executive. Lenovo's top six decision-makers, three older, three young, planning director is the executive director.
That year, we did not enter the real estate industry is calmly considered the decision, so Chinese enterprises still have to pay special attention to the construction of the leading group, with the team also formed a synergy, with a synergy but also a core, a core ability to make decision.
Lenovo is ideal?
Moderator: You have a conception of Lenovo, Lenovo now is your ideal association? Lenovo's employment standards is what?
Liu Chuanzhi: Lenovo now and my ideal association is still very far away. I hope the association is a long-term, large-scale, high-tech companies. Long-term means we do not do short-term behavior, such as speculation in stocks, Real estate speculation, although also make money, but can not exercise our ability, so we through the trade, industry and technology of the road came today, but also to increase the technological content, profiting from the technical content is a matter of great concern to me.
Also, our current question is how to combine the goals of employees with the goals of the enterprise, and this is far from my ideal. I hope that the key employees of Lenovo can form a group of owners. Can do well.Generally state-owned enterprises say that there is a master, but in fact no owner, while most private enterprises are mostly personal management, family management, which also limits the development of enterprises.Our such enterprises should have a better Mechanism to mobilize the enthusiasm of staff to the fullest extent possible. If this can be done, the development of staff should be limited.
I also think that the top backbone should be a caring and capable comrades who are different from self-motivated and self-motivated people, but those who are self-motivated will work hard for their own sake, while others have different careers and ambitions. To work hard is for the cause of the nation, for the cause of association.If it is a group of people with dedication to work together to expand.
Moderator: to do business can not be separated from people, but also in the defeat are also people, business risk is the biggest factor in human management, Lenovo is how to measure talent, Germany and how to weigh?
Liu Chuanzhi: Under what circumstances are people using morality as the main? Under what circumstances? Only the most important thing is that Lenovo believes that for senior staff, there should be both ability and political integrity. Morality can not be mistaken while the average staff is capable of doing so, of course Hope both ability and political integrity .De meaning of meaning is nothing more than the value or the value orientation of the problem.Values come from people's needs, such as a person is mainly based on career or love, the order, the order itself formed Values, and the altruistic nature of a person's values determines the standard of German, if a person does nothing for himself, then his virtue is not very good as a human resources department should make this work as much as possible Refinement, and then look at his spirit of cooperation, personal efforts and so on, and finally to the overall score of this person.
Moderator: Now people often talk about 'energy economy', a person can start a business, you can destroy a business, a person's decision determines the rise and fall of a business.How do you see 'energy economy' How do you think about your successor?
Liu Chuanzhi: In the entrepreneurial stage of the enterprise, the economic phenomenon can not be avoided, but this should not be the case after a real maturity. Just as the U.S. president has changed so much, he has not heard anyone who wants to change his rules to become a second member Third, the United States, the same is true of the big business, in addition to founder of the founder phase, who remember what the president? But he has a set of systems and mechanisms for the market in which the business, so the business will last forever Lenovo's ideal is To develop for a long time depends on a set of sound management mechanisms. People are absolutely important. People can not only do things well in the entrepreneurial stage, but also improve the mechanisms so that capable people can come up and create new ones Career.
For me personally, if Lenovo really left me die, that is my failure, I now consider more about the issue of human level, not the pedestrian, the person does not work, college students have an increase after the association The issue of the level of grass-roots employees to improve the level of the middle to raise the level of high-level backbone also need to raise the level of the highest level after the formation of naturally have the core of the top to belong to the type of career, one should be caring, not Personal ambition, for the cause of association, should strive for China's high-tech undertakings; the second is to be good at summing up, not only can they do things well, but also give topsoy, summed up these things do the main and objective environment is what, This refers to human understanding. In addition, people at this level must have a holistic view and represent the interests of the entire group rather than representing the interests of a particular department.
Zhongguancun why did not become Silicon Valley?
Moderator: Zhongguancun in Beijing is known as China's Silicon Valley, but in fact far worse than the United States Silicon Valley.In retrospect, when many companies in Zhongguancun venture and the United States, Microsoft started almost at the same time, and now with Microsoft, Intel What are the reasons for such a gap compared to other big companies?
Liu Chuanzhi: Lenovo's success is by chance, in the United States, if the major shareholder to an employee 200,000 yuan, 14 years no additional investment, he can be a big company like Lenovo? In the middle of how much operational risk Policy Risk There are three unfavorable factors for running a high-tech company in China: The first is the issue of the mechanism. Why Gruff and Bill Gates are growing so fast because they are the masters of the business. In the high-tech sector, entrepreneurs It must be the owner of the business.So, in China to do high-tech enterprises should start with the entrepreneurial ownership of the company.Of course there are shares not necessarily on the line, but no shares must be much worse. Another point to illustrate this problem , That is, China's high-tech private-owned enterprises develop much faster than state-owned high-tech enterprises, but it stands to reason that the strength of state-owned enterprises is much greater than that of private-owned enterprises, which is related to whether the operators are the masters or not. The Silicon Valley of the United States guarding the securities market, high-tech who did not grasp when it first started two or three years can not be done, the banks are not willing to lend.But venture funds are willing to invest, Venture Fund invests in ten companies, of which eight are lost, two have been successful, venture capital funds listed on the two companies make far more money than the eight compensation money .China has not yet formed a risk fund , Listed companies require a certain size of the country, there is no high-tech companies listed that one, so compared with the United States, there is no risk fund profit way.The third point is the issue of talent .Top Silicon Valley in the United States, I and Taiwan There are many high-tech enterprises, many of whom have a history of studying in the United States, a background of work in the United States, and a difference in mainland China. Our enterprises can not afford such high salaries and those who study abroad will return to China Is not much.Lenovo's approach is to do business with large companies abroad, through cooperation to obtain technical and management experience, or send people to go out, or ask foreigners to be consultants.
Lastly, what I want to say is: China is in need of entrepreneurs and business philosophy.How to form an entrepreneur and a correct corporate philosophy in an environment such as China? This can not be learned from books and can not be learned at Harvard. From state-owned enterprises It is difficult to learn.This requires that successful Chinese entrepreneurs often tell their own experiences and lessons and let people be influenced and form an entrepreneurial society in China.
The host is "China Business" reporter Zhang Shuguang Li Quanwei