He studied law, had a doctorate in law and an American lawyer's license, and became the pinnacle of the financial industry. His son, the richest man in Taiwan Province Province, shares an inexhaustible source of wealth, but day and night, he keeps his feet on the ground and never stops.
He believes in Buddhism, calm and pious; His low-key, quiet and simple work makes employees feel his dedication and work. He is a crazy idol employee.
The helmsman who is less than 38 years old is now 15 the largest financial enterprise in Taiwan Province province. In the past 15, the pilots of this aircraft carrier Cathay Pacific, Cathay Pacific? It will not only maintain the leading position in Taiwan Province's financial industry, but also accelerate its withdrawal. It is prudent to approach the goal of becoming the best financial institution in China. Editorial Board of China Merchant Strategy
Extraordinary execution of simple goals
-Visit Cai Hongtu, Chairman of Guotai Financial Holdings.
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Tu Caihong, a resounding name of China's financial industry.
15 years ago, when he was the insurance king and the richest man in Taiwan Province Province, he took over the helm of the family business from his father, many people were worried about him. easy
It's a blockbuster, and everyone will see where the Cathay Pacific pilot he wants is.
An enterprise that has obtained a doctorate in law
Born in 1952, Hong Caitu grew year-on-year in Ximending, Taipei. 1974 graduated from the Law School of Taiwan Province Provincial University. He went to the United States to continue his research and obtained a doctorate in law from an American university. Twenty years later, the school awarded the American "Outstanding Alumni Award" from South America 1978. Although born into a noble family
Cai Hongtu, a Leo, was self-reliant, got a doctorate, rushed into research, took the bar exam in Washington, D.C., and got his father.
Cai Hongtu was born in Zhentou, Miaoli County, Taiwan. Date of birth: June1924+065438+1October 65438. When he was 8 years old, he went to Taibei with his brother Cai Wanchun and became a professional lawyer. Live, conquer the world, work during the day and study at night. After graduating from junior high school, the two brothers opened a soy sauce factory and started their shopping career. Later, Cai Wanxiong and * * * jointly established Cathay Pacific Life Insurance and Cathay Pacific Construction Company, both of which are enterprise groups marked "Cathay Pacific".
1979 is a sophomore. It is difficult for Cai Hongtu and Cai Wanchun to remain at the helm. Have the Cai brothers decided? Go their separate ways. His son was selected by Zhou to consider forming a new group with the four most promising companies, namely Shixin and Cathay Plastics, Cathay Life Insurance, Cathay Construction, Mitsui Engineering and Cathay Automobile Industry, and Cathay Life Insurance as the core. At first, Cathay Life, 1983, went to Lin Yuanhe. At that time, the assets of Linyuan Group in Caiwan Province reached NT$ 354 million, with a total revenue of US$ 293 billion.
Regardless of the background, encouraging innovation is a famous saying of Cai Wanlin, that is, to become an entrepreneur, you must use innovation. The so-called "three quantities", that is, courage, generosity and strength are indispensable. He pursues lean management, pays attention to the cultivation of talents, emphasizes organization and discipline, and is strict with employees and himself. Start working early in the morning, live a simple life, don't like to socialize, don't like to show off.
1987 Forbes magazine announced the richest man in the world, and Cai Wanlin has been among the richest people in the world for many years, because195 was there with 850 billion yuan, the sixth in the world, and China was the richest man in the world. Cai Wanlin's name has also become another synonym for wealth.
Caiwan forest focuses on cultivating future generations. His second son, Cai Hongtu, received his Ph.D. in the United States. He inherited the family tradition in his childhood and was determined to make progress. Naturally, he is regarded as a plastic talent, and he can also be entrusted with an important task.
June, 1980, near Cai Hong, just got the American lawyer's license. In order to help manage the core business of the family group-Cathay Life pictures My father recalled that he was only 29 years old at that time.
Although Cai Hongtu became the resident managing director directly, before that, he had a summer internship in Cathay Life Insurance, so all he needed was to learn from scratch, learn and follow his father. An old and senior employee of Cathay Life recalled the situation at that time and said: Caiwan Linzai Hong Kong has a strict and ruthless employee.
He first began to learn to read financial statements. Perhaps because of the rigorous teaching of the teacher, a great interactive advertisement and the study of the origin of law, he soon embarked on the track of a highly sensitive person.
& gt Hong Kong Caitu joined Cathay Life Insurance with a market share of over 50%. In order to keep the leading position and innovate constantly, Cai Wanlin implemented exhibition department, set up charging and chief marketing insurance, strengthened after-sales service and actively trained cadres, which laid the foundation for China Life Insurance Organization.
In addition to strengthening the management of Caiwan Lin Qin, it is often the front-line sales staff who cheer the development of practice and leave a deep impression. In Cai Hongtu and Cai Hongtu, my father is very serious about his business and often goes to the front line in person. He can run four channels a day and even record. Running five times a day is difficult to master, but the problem is deep. "
Serious and fruitful work has been affirmed by my father. 1May, 984, he was promoted to vice chairman of the company.
1990 in may, 65-year-old Cai Wanlin remained anonymous, and Cai Hongtu, the chairman of Cathay Life Insurance, who was under 38, fully shouldered the heavy responsibility of leading the family business.
Be prepared for danger in times of peace, lead change, and lead by example everywhere.
Since the establishment of 1962, Cathay Life Insurance has flourished in Taiwan Province Province, ranking first in the same industry. The successor of Hong Kong Caitu, in its heyday, its market share exceeded 5%. However, the hidden crisis behind the prosperity.
Cut the picture and meet? Come to a new era of insurance. 1987 Taiwan Province province began to open to foreign insurance companies, and 1993 the market was fully opened. A large number of foreign insurance companies have entered the insurance markets of Taiwan Province and Taiwan Province provinces with enterprising spirit and strong impact. All of a sudden, a hundred schools of thought contended with each other and became dangerous.
In the face of highly open market chaos, he has shown a stable visual business leader in Hong Kong after taking office. For other high predetermined interest rate policies, local life insurance companies set off a price war between foreign capital and market liberalization to seize market share. He should be calm and strong-willed, adhere to the long-term strategy, constantly implement stable profits and innovative products, and avoid vicious price war competition. The market share has dropped to about 3%, but Cathay Life is profitable in the medium term. With the passage of time, the losses of foreign and domestic life insurance companies began to rely on price wars to seize market losses, exit, and.
However, the first place, Cathay Pacific is becoming more and more difficult to sit. Although Hong Kong Caitu has repeatedly stressed that the insurance market in Taiwan Province Province is expanding, Cathay Pacific? It is not important to maintain the growth and decline of market share. However, in the face of increasingly severe market environment, the pressure is still increasing.
"The biggest question is, have you been chased? You are nervous after hearing the panting sound. " At that time, Cai Hongtu let his subordinates express their thoughts.
"If the company can't grow, it is the biggest sin." This is a common letter of Cai Jia in various dynasties.
Reading. Under pressure, actively recycle Cathay Pacific and Cai Hongtu.
"Many employees are still addicted to Cathay Pacific's heyday and lack a sense of crisis. They don't need to make any changes. Our number one, why should we change our new contract share from 55% to 25% or be the number one? So nervous? "
First of all, we must change this sense of crisis. "The staff always think that we have the first place, so now set the way that you can go to it forever, just like a frog cooking in cold water first, and then slowly heating it to heat, so that you will know when it is too late to escape! When a frog? "
His first transformation.
The habit of seclusion, from childhood to Guotai? , relatively low-key, cautious, saw the media interview. Always smile and say, "If you have any questions, ask its spokesman, our system." It is rare to attend public meetings or inter-bank meetings.
The whole Cathay Pacific is also low-key, even mysterious. So real, Cathay Pacific? The benefits of this situation may not be known, but misinformation and misunderstanding have spread like wildfire. For example, Cathay Pacific, even in the Asian financial turmoil, is still the most profitable investment, which is rarely known to the general public. Cathay Pacific? Only buy not to sell, only rent not to buy real estate investment strategy, invest in blue chips in the stock market, he is a real estate and stock market speculator misinformed by the public, Cathay Pacific? Donating 392 1 earthquake, in exchange for the company's image promotion effect, far less than spending only 300 thousand to adopt orphans, but Antai Life Insurance's press release is overwhelming. Antai, one of Cathay Pacific's competitors, talked loudly about buying Cathay Pacific last year and was acquired by ING Group of the Netherlands. Some social welfare activities sponsored by Cathay Pacific seldom realize that I was asked to send my blessing to Cathay Pacific.
In order to change, Cai Hong began to contact the media more actively to let people know more about Cathay Pacific, the most important thing, or send a signal.
"Did he change the chairman Cathay Pacific and recreate it? Completely different from the past
Cai Hongtu has been a Buddhist for many years and has eaten vegetarian dishes three times. On the first morning of getting up every morning, he worships sports, reads the Diamond Sutra, Heart Sutra, Great Compassion Mantra, and sometimes attends Dharma meetings. He said: "I really like this feeling. Very calm and pious. "
Because he is the chairman of Cathay Pacific, even if he is a vegetarian, he will be noticed by others. So the market says Cathay Pacific? Don't buy stocks, the chairman is a vegetarian, and I don't know if you want to become a monk one day. Later, when Cai Hongtu was interviewed on TV, he was asked about being a vegetarian. He has always been very low-key and mysterious. In fact, the answer is very simple:
Now I have good news. I started eating meat.
Cai's grand plan, but he thinks it is amiable and very open, but the employees below are very afraid of him. "He has a flexible mind and quick thinking. He is a more serious boss than you. If you want to do this, I don't know if he will find your shortcomings. On several occasions, he was impatient rather than intense. Do you get scared? ? "I still admire the clever veteran cadre who left his old club, but I still remember," As long as his unhappy people feel stressed, it is a symbol of his absolute authority. "
In order to change the image, in the actual People First Party, Cai Hongtu specially set up an e-mail website for employees to write to themselves directly and handle each letter. "If measured, they didn't send me a satisfactory email." If he had time, he also went to the staff forum ",which is about spicy. They don't know what I saw. "
Since 2000, Cathay Pacific has held large-scale overseas summits every year. Cai Hongtu not only participated in it personally, but also changed the dull dramas Moses, Red Sea and Hacker Mission into various shapes, or the joy of employees singing around. This change is that Cai Hongtu, a handsome guy recognized by the business community, will be sought after as a superstar every time he appears, and become an idol in everyone's heart. "Our worship of him is almost crazy, which is also the common wish of the majority of business people.
Save the change, be steady and pragmatic, and build a model industry.
At the same time, a series of reforms began to be implemented.
The first step is from the personnel system. In the first few years of living in the countryside, we sat together to publicize Japan's management system, which was also patriarchal. The salary structure of field workers in Cai Hongtu was adjusted for the first time, and then it was adjusted back to the office. Staff recruitment, promotion, evaluation, adjustment, performance-oriented and more transparent promotion.
After the adjustment, Cathay Life's homework "VIP" message will be published on the company's website, and all qualified candidates. There is only one person in the past ranking, who ranks two acting managers. Now, the fourth grade opportunity has come, and those female staff members who worship Cai Tu crazily see hope: he was promoted and appointed by four female section chiefs shortly after the personnel reform began.
"Queue, no incentive!" The new mechanism gives people a chance to climb back, and the advantages of seniority will be more positive.
At the same time, he also implemented a "new system" in various branches and sites. On the one hand, he requires the person in charge to be the only source of income for doing business, on the other hand, he requires the ability to develop his own relationship with "people with political power" in the commercial system; Systematic tactics, only re-tendering and bidding policies, emphasizing the after-sales service system and environment of the exhibition industry, gradually evolved into a regional commercial system ... subverting the previous method set.
Cathay Pacific has formed a fixed system for decades. At 8: 30 every morning, the business department starts on time in the morning and takes turns to be responsible for different hosts. Every morning before the start, all the procedures and precautions are written on the blackboard. The process of singing Guotai songs or live songs in the morning begins: in the middle of the neutral host stepping down for a few seconds, a full-time staff is responsible for playing music, and the music stops at the speaker's position immediately, and every step is completely correct.
It is these systems that Cathay Pacific operates. Such a huge institution has formed a strict system, so how difficult it is to reform.
Therefore, Cai Hongtu can only go to a quiet revolution, change its voice, be cautious in thinking, and introduce speed and methods.
"We are an aircraft carrier. We don't turn so fast, but turn slowly and steadily," Cai Hongtu said.
Steady is what Cai Hongtu appreciates most. Over time, he and his cousin daniel tsai, chairman of Fubon Financial Holdings, went to Nepal, India and Bhutan nearby to ride mules. A group of people are walking on the mountain road. Suddenly, Cai Hongtu fell off the mule and almost hit the ground. Before we realized it, he stood up quietly as if nothing had happened.
"Very elegant posture ... he is an infallible person." The description of the witness Daniel Tsai.
Voice is one of the core advantages of Cathay Pacific. At the beginning of its establishment, Cai Wanlin's huge turnover company adopted a decentralized and steady operation mode, and one third of it was used for loans to earn interest. One third went to the stock market to earn profits, and one third invested in real estate. Compared with other companies, Cathay Pacific has a rent of $5.2 billion, making it the largest landlord in Taiwan Province Province every year. Tell Cai Hongtu.
Warren Buffett, Bill told him a lot of high technology. It took him two hours to buy 100 shares of Microsoft. Except for 100 shares, all of them were high-tech shares. Many people ridiculed him as an antique, behind the times, living on his laurels and retiring. But after only one year, he will say that your internet is so beautiful. The internet has dropped from 80 to 1 yuan, and some of my investments are valuable, which I think is worthwhile. The Internet has a dream (vision) and sells you a dream. I don't understand the value of the dream. I saw a very specific value, so I bought Geely (who makes razors) and Coca-Cola (Coca-Cola).
Cai Hong said he hoped Buffett would still be in school. "I am sustainable. I hope to learn from him. It doesn't matter if you call me an old man."
So, even if the market share continues to decline, Cathay Pacific? Always adhere to the "sustainable management" market. To this end, they also voluntarily gave up the so-called high predetermined interest rate policy, which can generate more business and help increase market share. & ltBR/ In this regard, Cai Hongtu: It is very important to improve the contract quality and improve the efficiency of capital use, considering the sustainability rate. We must face the long-term operation and sustainable business in the future, but it is hard to call it stopping, and we will be able to stop and not do so. We are a local company, instead of going home leisurely like the burden of foreign companies and selling it to others for worship. Because we have no place to go, we must be conservative. " BR/>； The steady and pragmatic management of Cathay Pacific has become the highest quality management practice in the insurance industry. Cathay Pacific has always been in the forefront of the popularity and influence rankings of various enterprises, and won the best quality award as the only representative of the insurance industry. In Taiwan Province Province, when you think of insurance, you think of Cathay Pacific. Cathay Pacific's quality assurance concept is a symbol.
His savings or career is successful, he has tens of millions of achievements, but you don't. If he has a bank at this time, you can sell him some financial products through our salesman, and the overall performance will be brought into play. exist
Cai Hongtu Financial Holdings is looking forward to the integration of diversified businesses, which can be described as "waiting": "Once the life insurance company and the bank are merged, the comprehensive performance will come out. You can see that we have a huge customer base and there is overlap in the middle. In any case, it must be that the marketing channel plus one is greater than two. Second, it can be used, such as banks, 200 branches. We have three or four hundred, so there are more.
With the arrival of orders, a lot of solid preparations have been made in the era of cutting pictures. Focus on more complete education and training for personnel, that is, the so-called cross-selling, strengthen life insurance professionals, expand the study of property and accident insurance, save professional knowledge in taxation, finance, computers and loans, and improve the overall quality significantly.
"Customer, I can sell many things. I can sell insurance through banks and securities? Risk, I can also invest in the future "integrated marketing" of trust funds through insurance sales and bank financing plan sales. Cai Hongtu said.
The key to integrated marketing is the scale and quality of the network, which is an incomparable advantage of powerful Cathay Pacific.
"Service resources, don't talk about its mouth. For example, how many resources does the company have to help shop assistants provide services to our customers? The widest? The extensive use of marketing office, marketing network and marketing system is our advantage, because our company and the password of management system are more effective than others. For another example, computer online peers say that their computers are online, Taipei, Taichung, Kaohsiung, Tainan, four or five. Is this online customer helpful? If you live in Taoyuan, you will get more than 500 points online. We have primary and secondary school students insured by Ping An Insurance Company in Taibei, Kaohsiung, Taiwan Province Province and China. This is not fair competition at the high end, but also because there are so many business premises and personnel. Therefore, whether in school or in the mountainous area of Puli, Nantou, our unit serves you, and only we can do it. There are only five *** 10 units in the province, and how other industries can serve these schools must be delivered by fax. The so-called service, rather than service attitude, is very good and has a high degree of education. This is the point, but not the whole story. Our advantage is that from Taipei to Fangliao, as long as you need to protect me, you can speak the same language as you, so that you can understand. "
After the establishment of Guotai Financial Holdings, especially in the series expansion, Cai Hongtu's single commodity problem has been solved, and his proud road will play a greater role, which is undoubtedly that even if Guotai is stronger.
At the same time, the mainland market, Cathay Pacific? The plan came true.
Cathay Pacific has set up a mainland market development office since 1996, and set up representative offices in Beijing and Chengdu on February 5438+0, 2006. In the past year, we exchanged views with the mainland on AIA, China Ping An and China Life Insurance, mainly introducing Cathay Pacific.
On April 27th, 2004, Cathay Pacific and China Eastern Airlines each invested 50% to establish a joint venture life insurance company, which was established and approved by China Insurance Regulatory Commission. The joint venture company officially started operation on June 24, 2005. Became the first company to enter the Chinese mainland Taiwanese life insurance company market.
At the opening ceremony, Cai Tu of Hong Kong, a joint venture company, revealed that after Cathay Life Insurance and Cathay World Bank under Cathay Financial Holdings, Cathay Century Product Insurance will also have the opportunity to go to the mainland. The World Bank, including Cathay Pacific, which has been established for two years, is eligible to apply for establishing branches. Cathay Century Property & Casualty also set up a representative office in Pudong, Shanghai.
Mainland China, Cathay Pacific in Hong Kong, Vietnam, Malaysia, three Asian markets, with life, dual-core banks to enter and expand them? The footprint of the Asian region has also been locked.
At this point, Cai Hongtu Guotai has been responsible for 15 years.
15 years, the market is changing, almost facing fierce competition, Cathay Pacific? Entering the 2 1 century safely is not only a big problem for many people, but also an increasingly powerful, healthy and firm gait in the future. In the past 15 years, due to the grim reality that many well-known enterprises have not turned back or even closed down in the fierce competition, the financial storm has withstood various tests. It has been recognized by more and more world-renowned universities and won the opinions of respected industries, customers and the public.
After 65,438+05 years, Kong described the history of surrender, the enterprise in China and the members of the perfect father order: "As long as the successor's task is conservative and complicated, in the era of globalization, the pilot organizations are looking for more challenges. As a benchmark enterprise, we can pursue a higher realm with Excellence. "
The Cathay Pacific Declaration has only one simple goal, which is to gradually develop into the best financial institution in the eastern, central and western parts of China. "Cai Hong said.