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Xinhuanet: Yuan Yafei says private enterprises should have cultural confidence when going global

Time Published:2015-07-22Source:Author:
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After recent years of investments and M&A activities, Sanpower Group now owns a diverse portfolio of listed companies including Hiteker, Nanjing Cenbest, Mecox Lane, IDT International and Jinpeng Yuankang, as well as key privately held global enterprises such as House of Fraser (UK), Brookstone (US) and Natali (Israel). The Group has controlling stakes in more than 100 subsidiaries and has an 85,000-strong global workforce, including 25,000 from its non-Chinese enterprises.


The development of Sanpower Group in recent years is inseparable from its own unique cultural charm. "Self-reflection" report is what each Sanpower employee must write on a monthly basis, in which he summarises the pros and cons of his work and has the report reviewed by his superior. Moreover, each executive's monthly "Self-reflection" reports are often reviewed by Chairman Yuan Yafei himself.


As regards the Group's overseas companies acquired during recent years, Yuan reiterates that synergy must be achieved with them not only in terms of data, industrial chains, and methodology, but also in terms of such soft power as culture; that is, there must be "cultural self-confidence". Therefore, be it Brookstone CEO's or House of Fraser team's visit, Chairman Yuan will promote the Group's "Self-reflection" culture every time. Gradually, the Group's overseas employees have recognised its core cultural values. Now, all the executives of the Group's overseas businesses voluntarily submit monthly "Self-reflection" reports to the headquarters in China, suggesting that the "Self-reflection" culture has taken root in foreign countries.


In the years to come, Sanpower Group will hopefully add more cultural connotations to Chinese brands that go global via its own "Self-reflection" culture, thereby making contributions to achieving "the great revitalisation of the Chinese nation".