Name: Noor-e-Hira Qureshi

Registration no: 40400

Course: Introduction to Entrepreneurship
Instructor: Abdur Rahman
Slot: Thursday (18:30 -21:30)
Submission Date: 3rd-October-2019
JACK MA: Chinese Business Magnate (10thSept 1964)

Jack Ma is a retired Chinese business magnate, investor, politician and philanthropist. He is the
co-founder and former executive chair of Alibaba Group, a multinational technology
conglomerate. His net worth is US$35.6 billion (June 2019).

Failure Story:
1. He Didn’t give up after failing many exams at school, He was not a good student and
almost didn’t get into middle school. He failed a key primary school test two times.
2. Scored 1 out of 120 points on math portion of his college entrance exam, failing is one
thing but getting 1 out 120 score is something completely different. It wasn’t because he
didn’t have time to prepare but he struggles with mathematics.
3. Wasn’t discouraged after being rejected from Harvard 10 time, not so much rejected from
Harvard 10 times is surprising, it is that he applied that many times after so many
rejections. He went to aptly named Hangzhou Normal University to become an English
major.
4. Stayed hopeful after being turned down for 30 jobs, after graduation he applied to 30
different jobs and was rejected by all of them, he also applied to be a police man but
rejected by saying that “You’re no good”.
5. Was the only interviewee out of 24 rejected by KFC, When KFC came to their country
China so 24 people went for job, 23 got the job only one guy was rejected and that was
Jack Ma.

Success Story:

1. Jack Ma visited Us in 1995 for government undertaking project related to the building of
highways. It was than Jack Ma was first introduced to the Internet and Computers. The
first word he searched about was “beer” and then “China” and not single result popped
out, so he decided that it was time for China and its people to get on the internet.
2. At first, he started building websites for Chinese companies with the help of friends in
US.
3. After persuading 17 of his friends to invest and join him in his new e-commerce startup-
Alibaba. The company began from his apartment. Building trust among the people of
China that an online system of payment and package transfers is safe. It was a biggest
challenge that Jack Ma and Alibaba faced.
4. Ma headed an information technology company established by Government.
5. From 2003, he founded Taobao, Alipay, Ali Mama and Lynx.
 Thanks
JACK MA,
“If you put bananas and money in front of monkeys, they will choose bananas
because they do not know that money can buy more bananas. In reality, if you offer job or
business to people, they would choose job because most people don’t know that business can
bring more money than salaries. Profit is better than salaries because salaries can make you a
living, but profits can make you a fortune”.