Formosa Plastics Group Wang Yongqing: The Legend Of Half Century

Wang Yongqing, chairman of Formosa Plastics Group, Mr. Wang Yongqing, male, Han nationality.

He was born in Xin Dian, Taipei County in January 18, 1917, and is originally from Anxi County, Fujian province.

His father Wang Changgeng lived a hard life by growing tea.

When he was 15 years old, he went to the tea garden to work as a miscellaneous worker. After that, Wang Yongqing went to a millet shop as an apprentice.

In second years, he used his father's borrowed 200 yuan to make the principal and set up a millet shop.

1954 funded Formosa Plastics Corp, which was put into operation in 1957.

By relying on the management system of "insisting on the complete separation of the two powers", Wang Zhongzhi's "Formosa Plastics Group" has developed into the king of Taiwan enterprises, under the jurisdiction of Formosa Plastic Co, South Asia plastics company, Formosa Chemicals Fibre Corp, Taiwan chemical dyeing and finishing company, Taiwan Asahi fiber company, Taili garments company, Yuzhi Industrial Company, Chaoyang timber company and Xinmao timber company and so on. There are also several large companies in the United States. The amount of capital in 1984 reached US $more than 4 billion 500 million, with an annual turnover of US $3 billion, accounting for 5.5% of Taiwan's gross domestic product, which is second to none among the private enterprises.

There are more than 1500 downstream processing plants that are in partnership with the Formosa Plastics Group. Today, in Taiwan's richest place, he ranks first in the world. He ranks among the top 50 in the world chemical industry. He is the only king in Taiwan who has entered the "world's top 50 enterprises".

The latest news: Taiwan enterprises donated to Sichuan Wenchuan earthquake stricken area Formosa Plastics Group 100 million donation. In June 5th last year, Formosa Plastics Group announced the most important personnel change since the establishment of the company.

As chairman of Formosa Plastics Group for half a century, Wang Yongqing resigned from office. His position was taken over by Li Zhicun, former general manager of Formosa Plastics. Wang Wenyuan, the eldest son of Wang Yongqing's younger brother Wang Yong, was promoted to be president, and vice president was appointed by Wang Yongqing's daughter Wang Ruihua.

In the future, Formosa Plastics Group will enter the "Tongzhi era" jointly managed by professional managers and second generations of Wangs.

But Wang Yongqing and Wang Yong are still the spiritual leaders of the Formosa Plastics Group.

From the small shop owner to the plastic king in January 18th 1917, a poor peasant family in Xin Dian, Taipei County, was delighted to add new products. This is Wang Yongqing who later became "the God of management".

At that time, Wang family lived in a very difficult life in Anxi County, Fujian province. Generations of people used to grow tea instead of living.

Wang Yongqing's father, Wang Changgeng, was watching the tea garden all day. His meager income barely supported the normal expenses of a family.

At the age of 9, Wang Changgeng was ill and had to lie in bed to recuperate. Wang Yongqing began to help his mother share the burden of life with his thin shoulders.

At the age of 15, Wang Yongqing graduated from primary school and worked as a miscellaneous worker in the tea garden. He went to a millet shop in Chiayi County of southern Taiwan for a year as an apprentice.

In second years, Wang Yongqing made the first important decision in his life. He opened the rice shop as his own boss, and the start-up fund was 200 yuan borrowed from his father.

The problem of Wang Yongqing was followed by little business after opening. The reason is that the Japanese rice store next door has a competitive advantage, and the other rice shops in the city have tied up the old customers.

However, the 16 year old Wang Yongqing showed a strong marketing ability, not only from door to door to sell his rice, but also free to the residents to dig rice, wash rice jar, as the saying goes, Wang Yongqing to Chiayi county people are highly targeted personalized services, in maintaining customer relations gradually prevailed.

In addition, the rice processing technology was relatively backward at that time, and the rice sold was mixed with rice bran, sand grains and small stones.

Wang Yongqing picked up all the odds and ends in the rice before he sold the rice, and the buyer got the benefit.

There is an article saying that at first, Wang Yongqing's rice shop sold less than 12 Dou a day and later sold more than 100 Dou a day.

In the past few years, the business of rice store is getting more and more popular. Wang Yongqing organized a rice mill and completed the primitive accumulation of personal capital.

Since then, the fate of Wang Yongqing has changed.

After the victory of the war of resistance against Japan, Taiwan's economy began to develop and the construction industry had the best momentum.

Wang Yongqing discovered this point keenly, and seized the opportunity to run the timber business, which turned out to be lucrative.

The son of an ordinary farmer became a local businessman.

At this time, there are more and more businesses in the timber industry, and the competition is becoming more and more intense.

When Wang Yongqing saw this, he resolutely decided to quit the timber industry.

In the early 50s of last century, Taiwan Industrial Bureau launched a series of industrial development plans, including the use of American aid to build PVC, the basic raw material of petrochemical industry.

Wang Yongqing, 38 years old, boldly took over the unpromising project at that time and established the Taiwan plastics industry Limited by Share Ltd.

After that, Wang Yongqing, who has been a great success in the field of plastics, has set up a large number of enterprises such as South Asia plastics factory and Taiwan chemical fiber industry company.

At present, Formosa Plastics Group has a wide range of operations, including refining, petrochemical raw materials, plastics processing, fiber, textile, electronic materials, semiconductors, automobiles, power generation, machinery, pportation, biotechnology, education and medical undertakings.

Especially in the field of petrochemical industry, the establishment of a complete industrial chain from crude oil import, pportation, smelting, cracking, processing and manufacturing to refined oil retail is a unique enterprise group in Taiwan.

Formosa Plastics Group has 9 companies under its jurisdiction, with a total number of employees exceeding 70 thousand and assets totaling 1 trillion and 500 billion NT dollars.

According to the survey of the strength of 2000 large enterprises in Taiwan in recent years, Formosa Plastics Group has jumped to the top of Taiwan's business groups.

Wang Yongqing also boarded Forbes's top list of rich people for $5 billion 400 million.

In 2002, although Wang Yongqing announced his retirement and no longer asked about the specific business of the group, he remained chairman of the group and major enterprises, and was the helmsman and spiritual leader behind the Formosa Plastics Group.

For decades, the world's chemical industry has always regarded Wang Yongqing as the "God of management". Its management is highly respected. Many entrepreneurs in Taiwan regard Wang Yongqing's management experience as the most practical textbook.

There is a writer named Guo Tai who studied Wang Yongqing for 20 years. He collected Wang Yongqing's speeches and newspapers, magazines, television and other related reports in the past 40 years, and wrote a book entitled "Wang Yongqing's eight lessons for young people".

This book sums up Wang Yongqing's basic attitude and the minimum principle of doing things.

There is a book review that reads, "Wang Yongqing's eight lessons for young people, though simple and easy to understand, are the valuable experiences he accumulated from decades of frustration."

The first lesson is to ask for a solution. That is to say, when facing problems, we must get to the bottom of it. Otherwise, we will never give up.

Second lessons: the spirit of serving the foundation, everything is for nothing, no result; everything is for the sake of rationalization.

Third lessons: thin goose theory, this is Wang Yongqing often mentioned the concept of life struggle, that is, learning thin goose hunger and hunger, with hard-working spirit to face difficulties, and perseverance to wait for the opportunity to come.

The fourth lesson: starting at the grass-roots level, we must be down-to-earth, step by step, start from the grass roots, and have to bite and let go after choosing the target.

Fifth lessons: strength, education is not equal to strength. Only through solid experience can we cultivate convincing strength.

The richer the practical experience, the greater the chance of success.

The sixth lesson: personal sense, if the management system of a company can make employees feel personal, their potential will reach ten.

Wang Yongqing often said to his employees, "although it is a penny, we must pick it up and make use of it. This is not a petty mood, but a spirit. It is a kind of vigilance and a good habit."

The seventh lesson: cheap and fine, only when it is built on cheap and good quality can enterprises develop vigorously. On this point, Wang Yongqing insists on supplying raw materials with low price to the downstream customers.

The eighth lesson: customer first, buyers and sellers are closely related, and know how to safeguard the interests of customers in order to get their best interests.

In addition, the article points out that Wang Yongqing has summed up a set of practical theories from the practice of many years of management and management, and the most penetrating one is the two magic weapons of "pressure management" and "reward management".

The so-called "stress management" is the way of management under the pressure of artificial pressure.

To be specific, it is artificially creating a sense of urgency for the whole enterprise and all employees.

Wang Yongqing has always believed in the fact that "a diligent world is not difficult." he believes that under the pressure of moderate pressure and even taking the initiative to meet challenges, it can fully reflect the vitality of a person. Therefore, both Wang Yongqing and others have strict demands.

It is said that the head of Formosa Plastics Group is most afraid of "lunch report".

Wang Yongqing eats a box of plain lunch in the company every day at noon. After dinner, he summoned the directors of the units in the conference room, listened to their reports first, and then put forward many sharp and subtle questions.

In order to cope with this "lunch report", the supervisor has to work at least 70 hours a week. They must be very clear about the minor matters of their own departments, and do a real analysis of the problems that arise, so that they can pass smoothly.

Wang Yongqing himself works for more than 100 hours a week.

Because of its adherence to the working principle and the habit of asking questions, the Formosa Plastics Group is completely in the grip of Wang Yongqing. He knows every detail of the operation of the company.

Of course, rewards and punishments are clearly the consistent practice of Formosa Plastics Group. Wang Yongqing's requirements for employees are harsh, but the rewards for subordinates are generous.

According to reports, there are two kinds of incentive methods for Formosa Plastics: one is material, that is, money reward; the other is spiritual.

The money award for Formosa Plastics is most famous for its year-end bonus and bonus.

The bonus that Wang Yongqing sent privately to management is called "another package", that is, bonus beyond public bonus.

For general staff, the practice of "creating profits and sharing employees" is adopted.

Formosa employees know that their efforts will be paid accordingly, so they all work hard, Wang Yongqing's "reward management" system has created a "1 + 1 = 3" effect.

Wang Yongqing, who once summed up his successful experience, said he thought the most effective and meaningful way was to choose "always pursue greater contributions" as the goal of the enterprise.

He said, "I am not only competing with others, but also strict and strict with myself."

Wang Yong, who is 5 years younger than his brother Wang Yongqing, is the vice chairman of Formosa Plastics Group. He is the longest partner in the company with Wang Yongqing.

When evaluating the cooperation experience of two people over the past decades, the media often use the words "perfect match" and "complement each other".

A magazine article said that Wang Yongqing and Wang Yong moved together in their brothers. From the young age, Wang Yongqing was responsible for planning the direction of career development. Brother Wang Yong was in charge of implementation and implementation.

In the eyes of Formosa Plastics employees, Wang Yongqing played the role of "looking up", thinking about planning the next development direction of Formosa Plastics Group, while his younger brother Wang Yong was "lowering his head" to push forward Formosa Plastics to a higher stage. Wang Yongqing set up a system and Wang Yong was implementing the details.

The tacit understanding and trust of the two people are more valuable. Wang Yongqing made a decision. Wang Yong was obedient to the one hundred percent, while Wang Yongzai had absolute autonomy in the execution process, and his brother Wang Yongqing fully authorized it.

A reporter asked Wang Yong if he had quarrelled among two people. Wang Yong said euphemistically, "he told him, I turned around and walked away."

Wang Yongqing, a billionaire in life, is also strict with himself and his family. He always follows the principle of "industrious and simple" and pays attention to "rationalization".

It is said that Wang Yongqing's principle of eating is "simple", and his favorite food is plain meat. The principle is "neat" and a pair of sports shoes should be put on for several years.

His brother Wang Yong is comfortable with everything, and is comfortable with everything.

In recent years, some European economists suddenly have great interest in family businesses. Many famous universities have set up specialized studios to deconstruct and study all aspects of their businesses.

In order to find out what really fascinates economists, the Newsweek commissioned Thompson financial consulting company to conduct a comprehensive investigation and analysis of European family businesses.

In a powerful database, Thompson's analysts found the answer: what economists are interested in is the unexpected development and growth of large family businesses in recent years.

From the aggregate data, in the stock markets of France, Germany, Italy, Spain, Switzerland and England,