Li Ka-Shing: The New ‘Old’ Entrepreneur



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Code :ENT0011

Year :
2004

Industry : Shipbuilding

Region : :Hong Kong

Teaching Note:Not Available

Structured Assignment :Not Available

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A HUMBLE BEGINNING
LiKa-Shingwas born in 1928 inChaozhou,Gaungdong,China.During the Japanese invasion of China in 1940, Li Ka-Shing and his familymoved to Hong Kong.When he was 15 years old, he promised his dying father that he would take care of his family and become a big businessman. He mopped factory floors during wartime to run his family and attended evening classes to continue his schooling. One day, he left school to sell plastic watchstraps and belts...

THE POWER OF GUANXI
Till the late 1970s, the British trading companies dominated the Hong Kongmarket selling products manufactured in Western countries and Japan, Hong Kong and other Asian countries. Hutchison, a British trading company that was started in the late 1800s and operated in Hong Kong, got into trouble during the early 1970s. It went bankrupt in 1970 and was purchased by Hong Kong Shanghai Banking Corporation, better known as HSBC...

A QUICK DECISIONMAKER – PERFECT TIMING
In the late 1980s, Li invested in theUKtelecomindustry by initiating the first early generation cellular service inUK by financing a British startup, Rabbit. The business was unsuccessful and the company lost around half a billion dollars and had to close it to avoid further losses. But Li Ka-Shing, to the surprise of many, was able to readily accept his mistake in a press conference in 1993 in Hong Kong. Many felt that, accepting failure was an unusual behaviour, not expected fromany CEO of such a stature...

BUSINESS AND SOCIAL RESPONSIBILITY GO HAND-IN-HANDWITH LI
Li Ka-Shing, in addition to being a popular businessman, is also known for his philanthropic activities. By 2000, he had contributed around $450 million for the cause of education and healthcare in the country. Around one-third of this went into the construction of Shantou University, near his hometown.According to Li Ka-Shing, “It ismy belief that the increasing pressures tomaximize profit and efficiency should not compromise our respect for equality and our determination to minimize misery...

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