On September 17th, Liu Chuanzhi, chairman of Legend Holdings, said at the scene of the 15th anniversary of CCTV's "Dialogue" that he had researched a two-wheel drive business model of investment + industry. “There is a saying in the vision of Legend Holdings that represents our whole idea. That is, we want to have our own leading companies in a number of industries.â€
Liu Chuanzhi pointed out that after this idea, he did two things himself: First, he handed over the computer business that had already achieved success to Yang Yuanqing and other young people, and let them continue to fly high. Second, they and Zhu Linan, their other young people, began to enter the field of venture capital. In this field, I want to kill a new road, which is to establish Lenovo Holdings.
The following is a record of Liu Chuanzhi's speech:
The invention of the steam engine has been in existence for more than 200 years now, and people who were more than 200 years ago could not think of it in the future! Probably the rise of personal computers and large-scale integrated circuits was 40 years ago, when I was a researcher at the Chinese Academy of Sciences in computer research. At that time, I really killed me. I don’t think that after the Internet, mobile Internet, and big data appeared, society will become what it is today.
Fifteen years ago, I was already a 16-year-old company, and I fell a lot of people who knew how to think. At that time, personal computers were in full swing, and Lenovo Group was second to none in this industry in China. But at that time, I felt nervous and worried in my heart. Why? Because when I started my business in 1984, there were at least 50,000 companies in the industry. But after 15 years, that is, around 2000, the remaining enterprises in this industry are less than 5% at most, and the others have all been eliminated, and they have been eliminated by the laws of technological innovation and natural selection. At that time, I thought how could I face the uncertainty of the future. What should Lenovo do? According to our situation at the time, I was prepared not to put the eggs in a basket.
At the time, the most fashionable management theory in the business world was specific and professional. In 1998, I was lucky enough to go to GE's Crawton Village, a GE learning base where I lived for 10 days. I learned that GE is actually doing the opposite, in finance, engines, medical devices, biochemistry. All aspects have been diversified and have been very successful. But the person in charge of the operation was Jack Welch. During the contact with him, I felt that he was a super brain. People like me couldn't compare with him, so I studied a set of investment + industry. The two-wheel drive business model is matched with the organizational form that suits us. In this way, we have also embarked on a path of diversity!
After having this idea at the time, we did two things: First, we handed over the computer business that had already achieved the stage to Yang Yuanqing and other young people, and let them continue to fly high. Second, I and Zhu Linan, their other young people, began to enter the field of venture capital. In this field, we want to create a new path, which is to establish Lenovo Holdings.
There is a saying in the vision of Legend Holdings that represents our whole idea. That is, we want to have our own leading companies in several industries. I just said that the fashionable business theory at the time was inconsistent with our idea.
We have been in business for 15 years, and in these 15 years we have reached the first milestone towards our vision. The sign of this milestone is of course the listing of H shares in Hong Kong in June this year.
During the past 15 years, due to the continuous innovation of science and technology and business models, we have made tremendous changes in our entire society and the world. We are now trying to digest this change and learn about it. Therefore, in the three months after the listing, we have been working hard and studying the situation seriously, of course, mainly to study the situation of the industry we want to enter. In learning, researching strategy and tactics, I have been repeatedly practicing on the sand table.
Concerned about surprises
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