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Mamushi Business School (Hub Number One) "Mr. Cheng's Example of Business Success
Case History: the making of a Gold Tycoon
Mr. Cheng's Business Example
This Hub is the first official discourse associated with Mamushi Business School as an approach to teaching business principles to learners via Hubpages.
Mr. Cheng (his full name is Cheng Yu-Tung) has been chosen as the first subject because he is a classical example of what Hofstede has shared with us in his study of "cultural dimensions." Hofstede, in his work with his 5th cultural dimension called Long Term Orientation (LTO), teaches us about how society values long standing, as opposed to short term, traditions and values. It was later on in his work, after he had laid the foundation for explaining the first four cultural dimensions, before, in the 1990s, he finally found out that Asians were different in their orientation to time. He noted that Asian countries that had strong ties to Confucian philosophy behaved differently from western cultures. After working out a method for scoring countries, he noted that countries with a high Long Term Orientation (LTO) score considered it very important to deliver on social obligations and tended to avoid "the loss of face." Equally important, countries that rank high on the fifth dimension (the Long Term orientation), such as China, who ranks far higher on this dimension (with a score of 114), have a different time perspective and have a very positive attitude of perseverance. The high LTO score of 114 is an indication of the Chinese society's willingness to overcome obstacles over time (they have a good measure of will and strength). Hofstede found that most Western cultures scored in the 20s by comparison.
Hofstede noted that time is a major stumbling block for Western cultures (that is Western organizations) that enter into the Chinese market place. It may take two or three times as long to close on a business deal in China when compared to the West. In a business deal with the Chinese time is required to build a relationship that is mutually beneficial to both parties, and the relationship must be sustainable.
Turning our attention back to the case of Mr Cheng we can better understand why it has taken a good amount of time to achieve the business success that he has accomplished. According to Chow, J. (2011, December 31, 2012, January 1) Mr. Cheng started his career as a jeweler in 1940 when he was 15 years old, after he had fled Japanese occupied Southern China to live in a neutral Portuguese territory of Macau, about 70 miles away (p. B1, The Wall Street Journal). Chow went on to report that now, the 86 year old Mr. Cheng is the patriarch of a Hong Kong family whose members span three generations and whose holdings range from New York's Carlyle Hotel, to highways and a chain of Ferrari dealers in China, to Chow Tai Fook,the world's largest jeweler by some measures and the source of windfall from public offering. He has a vast empire, a portfolio estimated at $16 billion dollars. Some consider him the world's biggest jeweler.
He started work as a jeweler in 1940, as a 15 year old teenager, and now he is, at age 86, the world's biggest jeweler. My lesson, the first to you, from the Mamushi Business School, is to help make you aware of the time that it takes, sometimes, to build a business. Mr. Cheng is a great example for all of us, whether we are Easterners or Westerners, because he teaches us to develop the patience, the great patience that we must practice to build successful businesses, especially in these tough, tense, economic times.
These lessons will continue to come to the Hubpages as frequently as I can afford to take the time to write them. I need to know if my lessons are reaching people who consider them useful. I need you to follow me if you consider my lessons worthwhile. Please do take the time to do the follow me steps for Hubpages. Do me this favor, please. Thank you in advance. "And as you go, Peace." Dr. Haddox