Jack Ma

Business and Finance

Photograph: Charlotte Chiu

Marshall Goldsmith’s 'What Got You Here Won’t Get You There' is a book on how successful people can become even more successful within their respective fields and why success can be so limiting for the average person. His book places a large emphasis on identifying interpersonal challenges: as he puts it, “the higher you go, the more your problems are behavioural”. As we advance in our careers, behavioural changes are often the only significant changes we can make to further our successes.

Similarly, the rising dominance of Alibaba has hit a ceiling, posting its first quarterly loss in nine years - a distant statement from last year’s 811 million users and a gross merchandise value of $1.2 trillion. However, the company's poor quarter is not due to a shift in ethos as it still prioritises innovation and development, “utilising global ingenuity and expertise to develop and drive long-term growth and popularity”. Instead, Alibaba’s recent struggles stem from Jack Ma, who is considered the mastermind behind the billion-dollar company. Critics claim that it is not because of Ma's incapability to run the company but rather his free-wheeling attitude that has propelled and ensured the prosperity of Alibaba for over a decade.

With his recent criticisms of the Chinese government for restricting innovation and creativity, Ma has faced increasing backlash. Speaking out against China was evidently irrational, undoubtedly reflecting poorly on the business. Chinese officials retaliated by postponing Ma’s financial technology company ANT’s launch on the stock market, which was predicted to be the world's largest initial public offering. Additionally, they also penalised Alibaba with antitrust fines, which damaged both the company's reputation and value.

However, it would be wrong to claim that Ma has brought harm to the Chinese regime. His global reputation as a charismatic figure was formed not only through his multinational company Alibaba but also publicised talks and conferences held with renowned figures such as Elon Musk, Barack Obama, and David Cameron. Chinese officials liked Ma's portrayal of a powerful and glamorous China as it associated the nation with a sense of soft power. Soft power, otherwise known as the ability to cooperate rather than coerce, is achieved through shaping the preferences of others through attraction and appeal. Attraction and appeal are things that Jack Ma perfectly achieves for China; nonetheless, it comes at the expense of the Chinese government's reputation.

Despite Jack Ma's glorification of China, his free-reigning attitude, which is utilised to boost company morale and facilitate innovation, backfired when set on the global stage - both the Chinese government and global audiences suffered substantially. Though the hallmarks of Ma's personality have been vital to his company's success, it is now the very thing that hinders the company's potential growth and prosperity.