Successful Entrepreneurship in China: The Case of Jack Ma

This report discusses the case study of Jack Ma, a Chinese business magnate who founded Alibaba Group. It explores the concept of entrepreneurship and highlights the skills and qualities possessed by Jack Ma that contributed to his success. The report also discusses the use of primary data in conducting research and the importance of academic skills in managing a successful business.

Successful
Entrepreneurship in
China The case of JACK
MA

INTRODUCTION
Entrepreneurship is the process of introducing something new and innovations in the
changing environment that can help to attract the number of customers and increase the business
productivity. Entrepreneurship is the creation of value and introducing different products that
supports to increase the business performance (Liu, Peng, and Luo, 2020). A People who
conducts the market analysis and create the new business by taking risk is called an entrepreneur.
The present report is based on case study of Jack Ma Yun who is a Chinese business magnate,
philanthropist and investor, founded the Alibaba Group, that is a multinational technology
conglomerate company. This offers range of products and services by using innovation that
attracts large number of customers and increase the business productivity. The report is based in
academic skills by conducting research, range of primary data, qualitative and quantitative data
that can help to collect the relevant and reliable data.
MAIN BODY
China is the largest of all Asian countries as it has large population of any country in the
world. In China, number of business magnate are exists that use the entrepreneurship for the
purpose of identifying range of products and services. Jack Ma is the Chinese business leader
that established the Alibaba Group in the year 10 September 1964, for providing the range of
products and services. This person started their studies English at young age by conversing with
English speaker. This person identify the needs and wants of their customers and offer the
products accordingly which can help to increase the brand image. This person conducts the
market analysis where it identifies what innovative products should be introduce and how it can
increase the sale (Wu, Zheng Li, and Guo, 2019). Different qualities and characteristics have in
Jack Ma who used the new technology and innovation that can help to develop the business
effectively. To run a business successfully it is important to focus on changing environment and
introduce the products that increase the business profitability. The skills and qualities of such
entrepreneur are as:
Adaptability: The business nature is changing where it is important to bring the
challenges and managing the business performance. Jack Ma possess this characteristic as it
accept challenges while offering range of products and services to customers. This person take
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the risk in introducing new products and technology that can help to grow their business
continuously.
Decisiveness: To become a successful entrepreneur an entrepreneur is require to make
difficult decision which is critical for individual. Jack Ma is a successful business concern who
has confidence to make challenging decision and running their business (Hatthakijphong. and
Ting, 2019).
Risk tolerance: Entrepreneurship is associated with risk as a business concern launches
different products and services by taking risk regularly. Jack Ma is kind of entrepreneur who take
risk in their business by maintaining good relationship and increasing business range. This can
help to increase the business productivity in changing environment.
Innovation: This is another skills which have in Jack Ma as it bring innovation in
Alibaba Group by introducing products and services which can help to attracts the large number
of customers and develop the business profitability.
From the literature and case study of Jack Ma it can be interpret that to establish and run
a business successfully academic skills are important which used by business concern to
introduce the different types of products that attracts customers and increase the business
performance. These people conduct the market analysis and bring innovation by comparing with
other organization that influence the customers and enhance the business profitability.
The researcher has used the primary data to collect the information that how to become a
successful entrepreneur and what skills are require to manage the activities. Primary data is the
data which is collected from the first hand sources by using questionnaire, survey, focus group
and other that can help to collect the fresh and reliable data in relation to particular topic and
increase the understanding effectively. In context to Alibaba Group, Jack Ma prepare the various
questions asked to their potential customers which can help to know that what changes are
require to bring in the organization and how it can retain their customers regularly. Primary data
in relation to entrepreneurship helped the investigator to enhancing their skills and abilities in
innovation and managing functions effectively. There are two type of data collection method
primary and secondary (Azoulay, Jones, Kim and Miranda, 2020). When data and information is
collected from first hand or fresh sources then known as primary data collection. On the other
side, when data and information is collected from second hand sources such as books, journal,
article and other then considered as secondary data collection. In relation to present research,
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Primary data has been used by researcher in which it designed some question about their
products, quality and prices then bring the changes. The price and quality of products which is
providing by Alibaba Group is good and reasonable that influences the number of customers and
maintain the sustainability. This also helps to increase the business performance and brand image
in competitive environment (Richards, and et.al., 2019).
Quantitative data is the method of researching which used to measure the statistical,
mathematical, and numerical data by using appropriate sources which can help to take the right
decision. Qualitative data is the research method that used by research to analysis the non-
numerical and statistical data by using interview, focus group, questionnaire, and observation
that develop the business performance and productivity. In relation to current research successful
entrepreneurship, quantitative research has been used by researcher who analysis the market
collect numerical and statically data which can help to know about topic and managing the
business productivity. This data interpreted by investigator as it helps to know how entrepreneur
adopt innovation and bring challenges in their business which can help to improve the business
(Toma, Marinescu, Constantin and Costea, 2019).
Management style refers as planning, identifying, prioritising, organising, and directing
the work in order to accomplish the business goals. This is important for each business concern
to adopt effective management style that suits their business situation and supports to increase
the performance. There is different management style such as Autocratic, democratic,
Bureaucratic, and Laissez Faire management style that uses to develop the business performance.
From the all Jack Ma has adopted Laissez faire style that is based on delegation, and promoting
the business production by influencing number of people. By using this style in Alibaba Group,
management allows team member to maximize their leadership skills, creating an environment
of interdependence, team member to explore ideas, developing the individual satisfaction, and
developing the study skills which can help to increase the business performance (Bloomfield and
Fisher, 2019). Herein, business leader understand the task and allocate the work between
employees which can help to accept the challenges time to time that supports to develop the
business performance. Jack Ma is strategic management person who formulate different
strategies and create new ideas for enhancing their business. Deductive research approach is used
by researcher who conduct research and collect the relevant data and information which supports
to become a successful entrepreneur.
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CONCLUSION
From the report it can be concluded that there are various management style such as
autocratic, democratic, bureaucratic, and Laiseez faire style which is adopted by Jack Ma that
can help to allocate the work between employees and accepting challenges effectively. Primary
data collection method is used by researcher to collect information, and managing the business
effectively.
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REFERENCE
Books and journal
Liu, J., Peng, P. and Luo, L., 2020. The relation between family socioeconomic status and academic achievement in
China: a meta-analysis. Educational Psychology Review. 32(1). pp.49-76.
Wu, H., Zheng, J., Li, S. and Guo, J., 2019. Does academic interest play a more important role in medical sciences
than in other disciplines? A nationwide cross-sectional study in China. BMC medical education. 19(1).
pp.1-8.
Hatthakijphong, P. and Ting, H. I., 2019. Prioritizing successful entrepreneurial skills: An emphasis on the
perspectives of entrepreneurs versus aspiring entrepreneurs. Thinking Skills and Creativity. 34. p.100603.
Azoulay, P., Jones, B. F., Kim, J. D. and Miranda, J., 2020. Age and high-growth entrepreneurship. American
Economic Review: Insights. 2(1). pp.65-82.
Toma, S.G., Marinescu, P., Constantin, I. and Costea, D., 2019. Beyond Charismatic Leadership: The Case of Jack
Ma. Manager, (29), pp.99-105.
Bloomfield, J. and Fisher, M. J., 2019. Quantitative research design. Journal of the Australasian Rehabilitation
Nurses Association, 22(2), pp.27-30.
Richards, K. A. R., and et.al., 2019. Studying recruitment and retention in PETE: Qualitative and quantitative
research methods. Journal of Teaching in Physical Education. 38(1). pp.22-36.
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