Family Enterprise Inheritance Forum: Jiang Xipei Deciphers the “Spirit of Founder”

    On November 7 and 8, the Chinese Family Enterprise Inheritance Theme Forum and the Third Election of the Best Inheritance Enterprise were grandly held in Beijing. Participants were representatives from the Henokiens Association, Wendel Family, Rothschild Family, Far East Holding Group and New Hope Group and other family enterprises from China and abroad, and many scholars of Hupan University, Bain Capital, Guanghua School of Management of Beijing University, PBC School of Finance of Tsinghua University and China Europe Family Inheritance Research Center. A heated discussion on the topic of “Being Better Families and Enterprises, Writing a Memo for the Next Decade” was launched two days among all participants, who witnessed the prize-awarding ceremony of 2016 Family Enterprise Prizes together. Jiang Xipei, board president and CEO of Far Eastern Holding Group and Jiang Chenghong, director of Group were invited to attend and give speeches.

    In recent years, many enterprises that developed well at the period of rapid economic development started to face the challenge of “stalling”, which means growth and revenue slumped suddenly and even stopped during the process of economic slowdown and structure adjustment in China. How to overcome crisis of stall and restart growth engine? At founder sub-forum, Mr. Han Weiwen, president of Bain Greater China and global partner gave the key words – the spirit of founder, which contains 3 essences: mission of new rising forces, emphases on first-line business and the spirit of ownership. Jiang Xipei and many founders of private enterprises, such as Cao Weide, president of IMC Group and FBN Asia, Li Shaohua, president of Santi City Management (Group), Cao Qimin, president of Shenglong General Aviation Group and Qiao Huijun, partner of Angel Plus and founder & CEO of Hongtai Smart, explained how the spirit of founder works and which way should be taken for inheritance from strong genes of great enterprises by their own practice and experience.

Jiang Xipei Gives a Keynote Speech Titled How Founders Become Simple and Pure and Achieve Higher Purposes

    Jiang Xipei explained his opinions in the keynote speech of How Founders Become Simple and Pure and Achieve Higher Purposes. He thought that all the family enterprises and private enterprises be able to achieve sustainable development should have spirit of founder, whose core elements include the spirit of innovation, risk, cooperation, win-win, share and integrity.

    Under current environment, we need to find better cooperation partners, marketable products, reasonable structure, good products and service, and none of these aspects should be abandoned. From a newly small factory established in 1985 to a leading enterprise in cable industry, and to the present global investment management expert, goals of Far East refreshed again and again. To achieve these goals, Far East always practiced “five satisfactions": customer satisfaction, employee satisfaction, shareholder satisfaction, government satisfaction and society satisfaction.

    Both the external environment and internal environment are of great importance. Far East designed an internal operation mechanism that company is managed by all business partners in order to find more excellent talents and make them become partners of business. Under current market environment, although there are only one or two founders, it is extremely difficult to run an enterprise well if you just want to be a professional manager. Therefore, Far East built such an internal operation mechanism to provide a platform for starting a business and guarantee the motivation of sustainable development. Up to now, nearly 15 percent of Far East core employees have become the company’s shareholders. We need to find employees who are of willingness, can retain reliably and having good performance in company. Only by motivating their spirit of founder can a company achieve the inheritance.

Jiang Chenghong Gives a Speech at the “Chinese Practice” Theme Forum

    At international exchange session of the forum, numerous entrepreneurs, experts and scholars from all over the world exchanged their collisions and inspirations of the family enterprises practice in different regions through the three topics – “global vision”, “Asia reference” and “Chinese practice”, and held a discussion on how family enterprises can develop better in next decade during transformation. At the discussion process of “Chinese practice”, Jiang Xipei and his son, Jiang Chenghong, Sun Dawu and his son Sun Shuo of Dawu Group, Li Shaohua and his daughter Li Meng of Santi Group shared three different modes of family inheritance.

Jiang Xipei and His Son Jiang Chenghong at the “Chinese Practice” Theme Forum

    At the prize-awarding ceremony of the Third Best Inheritance Enterprises, individuals, enterprises and organizations that made remarkable contributions in inheritance areas of family enterprises received the awards. After examination and recommendation of organizing committee, and prudent evaluation of expert council, Far Eastern Holding Group won the prize of “The Best Inheritance and Entrepreneurship eEnterprise of 2016”.

Far Eastern Holding Group won the prize of “The Best Inheritance and Entrepreneurship Enterprise of 2016”. Jiang Xipei (the fifth from left) accepted the prize on the stage.