“CONSTANT” ENTREPRENEURSHIP — THE KEY TO A CENTURY-OLD ENTERPRISE
As the Chinese saying goes, “Wealth does not last beyond three generations.” Typically, an enterprise undergoes three phases: founding, sustaining, and declining. Yet, Lee Kum Kee has been passed down through six generations, with a legacy of over 135 years. What is the secret behind its enduring success? The answer lies in our commitment to “Constant” Entrepreneurship.
If a single generation embodies Constant Entrepreneurship without imparting it to the next, the succeeding generation will merely sustain, and subsequent generations may struggle to carry on. Hence, each generation must embrace the spirit and adopt an innovative mindset to pursue change, thereby ensuring the longevity and vitality of the enterprise.
Lee Kum Kee Group’s Constant Entrepreneurship encompasses four key elements: 6677, Breakthrough and Innovate, Defy Limitations and Effectiveness Orientation. We consistently emphasise the significance of seizing opportunities through the 6677 principle, driven by entrepreneurship with an innovative and effectiveness-oriented mindset in achieving Constant Entrepreneurship.
Constant Entrepreneurship transcends mere concepts; it represents concrete initiatives and endeavours. Our ongoing product innovation, market expansion, and business advancement exemplify our commitment to the spirit. This ethos has solidified us as a century-old legacy and paved the way for boundless possibilities in the future.
The Constant Entrepreneurship Journey of Lee Kum Kee
Lee Kum Kee’s entrepreneurial journey began with the sauce business. In 1972, the late Mr. Lee Man Tat took the helm of the sauce business, leveraging his exceptional vision and Constant Entrepreneurship to formulate distinct business strategies and directions. He consistently drove innovation and broadened the company’s offerings from just two products to an impressive portfolio of 200.
Mr. Lee upheld a winning mentality throughout his tenure. He proactively invested in modernising the Tai Po factory to enhance production capabilities despite financial adversities. During the 1980s to the 1990s, we, the fourth generation of family members, joined the business and drove the business toward globalization by developing new products and establishing an overseas market presence. Today, Lee Kum Kee Sauce offers a diverse range of over 300 products, fulfilling the vision “where there are people, there is Lee Kum Kee.” We then achieve “even where there are no people, there is Lee Kum Kee” by venturing our sauce products into space to extend the brand’s influence to a wider audience.
6677 to Breakthrough and Innovate — From Sauces to Chinese Herbal Health Products
Lee Kum Kee has successfully attained its mission of “promoting Chinese culinary culture worldwide,” but we did not stop there. To capture opportunities, we believe a 60-70% certainty of success (6677) is sufficient to take action, as absolute success cannot be guaranteed. The principles of “6677” and “Breakthrough and Innovate” under Constant Entrepreneurship have been instrumental in the establishment of Infinitus.
In 1992, we recognized the vast potential of Chinese wellness culture. Under the “6677” principle, we seized the opportunity and ventured into the Chinese herbal health industry by collaborating with the First Military Medical University to establish Guangdong Nanfang Lee Kum Kee Health Products Co. Ltd. (later renamed as Infinitus), thereby defining the second mission of Lee Kum Kee Group: “advocating premium Chinese health regimen.”
Breakthrough and Innovate for Business Expansion and Transformation — Never Settle for the Status Quo
Constant Entrepreneurship is founded on a dedication to “continuously breakthrough and innovate,” which propels Lee Kum Kee Group to diversify its businesses into traditional Chinese medicine plantation, investment management and real estate services, venture capital, corporate culture consultancy, the movement to co-create a happier world, and the dried tangerine peel industry.
Moving beyond the “business-as-usual” mindset involves perpetuating a winning mentality at all times, not only in new pursuit of opportunities but also for existing businesses to adapt and evolve. We believe that business transformation does not require substantial financial outlays. Instead, it should be guided by an “effectiveness-oriented” mindset, utilising limited resources to foster unlimited creativity. This mindset has been perpetuated across generations, with Mr. Lee Man Tat often reminding us: “We cannot move forward if we only focus on a task with our heads facing down. When we move forward, we must broaden our awareness of our surroundings to monitor changes in the environment. By closely staying updated on the trends of an ever-changing environment, we develop a mentality that fosters a sense of learning and exploration of business opportunities.”
In this spirit, we actively organise annual Innovation Trips, during which we visit and explore various companies and markets to stay attuned to market dynamics, enabling us to identify business opportunities in an ever-changing environment.
The Continuation of Constant Entrepreneurship
Throughout his five decades of leadership as the Chairman of Lee Kum Kee Group, Mr. Lee Man Tat effectively steered the company toward remarkable accomplishments.
As of 2022, I have taken on the role of Executive Chairman. In this new capacity, I am assuming thirteen distinct roles and spearheading the entire family, the Group, and its business units for the first time, which entails a significant responsibility. In the face of numerous challenges, my motivation has always been fueled by the “Helicopter View,” emphasizing a perspective of “We are Greater than I.” I am dedicated to serving the family, the enterprise, and all stakeholders. Through continual breakthroughs and innovations, I aim to guide our family business into the next millennium, creating a lasting legacy.
Mr. Sammy Lee
Executive Chairman
Lee Kum Kee Group
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