Wang Jianlin delivers speech at Oxford University.
Packed lecture hall
Wang Jianlin answers questions from the audience
Student raises a question to Wang Jianlin.
Media & Audience Questions for Chairman Wang Jianlin at Oxford Open Lecture (23rd Feb)
Wanda Group Chairman Wang Jianlin was invited to give a lecture about Wanda’s experience going global at Oxford University on February 23, 2016, becoming the first major Chinese entrepreneur to receive the honor. The event follows his lecture at the Harvard Business School in 2015 as he ascends the stage of another world-class university to inform the world of Chinese management philosophy.
Oxford University is one of the oldest universities in the world and one of the most renowned, producing 26 Prime Ministers, 60 Nobel Prize winners and dozens of royal family members and political leaders across the world. Its open lectures are the most famous of its kind in the world and contain some of the most influential talks of any university, which makes the invitation a high honor. News of Wang Jianlin’s appointment was so well received that the turnout far outnumbered the 300-person capacity of the lecture hall. The university was required to arrange a separate viewing area with a live broadcast of the event, and even this was so packed that many students were forced to stand.
In addition to the audiences at the Saïd Business School, a large number of people viewed the open lecture online. Tencent exclusively broadcast the entire open lecture live across its multiple platforms, and has been a favorited by a large number of people in China. The online trailer of the live open lecture surpassed 300,000 viewers within half a day. Despite the lecture starting at 1am Beijing time, with an 8 hour difference between China and the UK, nearly 60,000 people watched the live broadcast of the lecture online.
“The world is so big, I want to explore (the world).” Wang Jianlin began his speech by referencing a popular phrase from a letter of resignation that went viral over the internet in China in 2015: “The world is so big, I want to take a look”, reflecting the essence of Wanda's spirit of globalization. During the talk, Wang Jianlin expounded on Wanda’s international strategy for the first time. He explained that the first step is a focus on acquisitions. For overseas investment, mergers trump investments, and priority is given to mergers in entertainment, sport, and tourism. The second step is acquisitions with synergic value. Whether it is overseas acquisitions or investments, they must be relevant to existing industry sectors in which Wanda operates. To operate successfully in China, the cross-border merger must be able to form an integral part of Wanda’s current businesses. The third step is local talent. Wanda’s overseas investment projects must not be managed from China. The key for mergers is to retain the original management, hire locally for all positions and improve incentive schemes to motivate employees and enhance the company’s overseas performance. Wang Jianlin also stated some ambitious goals for Wanda’s international efforts: by 2020, Wanda will become a world-class international company and enter the world’s top 30 companies in terms of Group assets, revenue and profit.
Wang Jianlin interacted freely with students after the talk. One student asked about the reason why the Chairman worked so hard,...
Wang Jianlin delivers speech at Oxford University.
Packed lecture hall
Wang Jianlin answers questions from the audience
Student raises a question to Wang Jianlin.
Media & Audience Questions for Chairman Wang Jianlin at Oxford Open Lecture (23rd Feb)
Wanda Group Chairman Wang Jianlin was invited to give a lecture about Wanda’s experience going global at Oxford University on February 23, 2016, becoming the first major Chinese entrepreneur to receive the honor. The event follows his lecture at the Harvard Business School in 2015 as he ascends the stage of another world-class university to inform the world of Chinese management philosophy.
Oxford University is one of the oldest universities in the world and one of the most renowned, producing 26 Prime Ministers, 60 Nobel Prize winners and dozens of royal family members and political leaders across the world. Its open lectures are the most famous of its kind in the world and contain some of the most influential talks of any university, which makes the invitation a high honor. News of Wang Jianlin’s appointment was so well received that the turnout far outnumbered the 300-person capacity of the lecture hall. The university was required to arrange a separate viewing area with a live broadcast of the event, and even this was so packed that many students were forced to stand.
In addition to the audiences at the Saïd Business School, a large number of people viewed the open lecture online. Tencent exclusively broadcast the entire open lecture live across its multiple platforms, and has been a favorited by a large number of people in China. The online trailer of the live open lecture surpassed 300,000 viewers within half a day. Despite the lecture starting at 1am Beijing time, with an 8 hour difference between China and the UK, nearly 60,000 people watched the live broadcast of the lecture online.
“The world is so big, I want to explore (the world).” Wang Jianlin began his speech by referencing a popular phrase from a letter of resignation that went viral over the internet in China in 2015: “The world is so big, I want to take a look”, reflecting the essence of Wanda's spirit of globalization. During the talk, Wang Jianlin expounded on Wanda’s international strategy for the first time. He explained that the first step is a focus on acquisitions. For overseas investment, mergers trump investments, and priority is given to mergers in entertainment, sport, and tourism. The second step is acquisitions with synergic value. Whether it is overseas acquisitions or investments, they must be relevant to existing industry sectors in which Wanda operates. To operate successfully in China, the cross-border merger must be able to form an integral part of Wanda’s current businesses. The third step is local talent. Wanda’s overseas investment projects must not be managed from China. The key for mergers is to retain the original management, hire locally for all positions and improve incentive schemes to motivate employees and enhance the company’s overseas performance. Wang Jianlin also stated some ambitious goals for Wanda’s international efforts: by 2020, Wanda will become a world-class international company and enter the world’s top 30 companies in terms of Group assets, revenue and profit.
Wang Jianlin interacted freely with students after the talk. One student asked about the reason why the Chairman worked so hard, whether it is driven by wealth or because of his sense of social responsibility. Wang Jianlin jokingly said he initially planned to retire once his company generated RMB100 million in revenues. However, the goal was achieved in such a short time that he realized the bar was set too low. “You should set your life goals in stages and constantly adjust them for your own path.” He told students that the present entrepreneurial environment is much better than when he started Wanda, and when a student asked for tips he expressed that young entrepreneurs should remain grounded as they work their way up. “There are many opportunities in traditional industries. The reason why it’s called ‘traditional’ industry is because of its long life and viability. Although innovative business has potentially high added value and could turn a quick profit, it has equal potential to crash fast.”
Wanda Group began their international development efforts in 2012, and in just four years invested over $15 billion in over ten countries. They are one of the most successful Chinese companies to have invested the most in overseas projects, and Wang Jianlin has become one of the most renowned Chinese business leaders. Frequently invited to give talks at world-famous academic institutions, he has become an ambassador of Chinese culture.
Media & Audience Questions for Chairman Wang Jianlin at Oxford Open Lecture (23rd Feb)
