Terry Gou—the Founder of Hon Hai Precision Industry Co. (Foxconn)
In recently years, Apple’s products sweep the world. I think everyone only knows Steve Jobs, but not much people know Terry Gou who is the founder of Foxconn which is the supplier of Apple is a Taiwanese. Most of Apple’s products were assembled by his factories. He not only cooperates with Apple but also cooperates with many international companies such as DELL, Intel, COMPAQ, etc.
In 1974, Terry Gou used around $7500 to create his first company which is “Hon Hai Plastic Products Co.”. Their master product was the buttons of televisions. Until 1981, he successfully created new product which is computers’ “connector”. The following year, he changed his company’s name to “Hon Hai Precision Industry Co.” and he had around $530 thousand assets in that time. In 1985, he created a branch which is Foxconn in U.S.(MBAlib) In March 2012, Terry Gou was ranked as 184 of the world’s billionaires with $5.5 billion by Forbes.(Forbes)
Terry Gou has three main business philosophies.
1. Daring to give
For Terry Gou, he always remembers these words: “Thousand soldiers get easily, a will difficult beg.” He trusts that hiring and cultivating employees is one of the most important things for a company. He has never niggard to cultivate their employees. On the other hand, he puts high value on hiring talents.(WIKIPEDIA)
2. Daring to invest
He has never niggard to spend money on buying more advanced equipment or give more reward for his employees. He thought that long-term investment and development of talents is the only key for company to grow fast. Therefore, he had said, “Everyone thinks that spend money is a kind of enjoyment. I think spend money is a kind of pursuit. This is my philosophy.”(WIKIPEDIA)
3. Daring to face problems
During Terry Gou created his Hon Hai Empire, he got a lot of huge problems. But every time when he faced those problems, he always thought if he is breakthrough, it can let him get the biggest rewards, have more and more strength.(WIKIPEDIA)
In 1974, Terry Gou used around $7500 to create his first company which is “Hon Hai Plastic Products Co.”. Their master product was the buttons of televisions. Until 1981, he successfully created new product which is computers’ “connector”. The following year, he changed his company’s name to “Hon Hai Precision Industry Co.” and he had around $530 thousand assets in that time. In 1985, he created a branch which is Foxconn in U.S.(MBAlib) In March 2012, Terry Gou was ranked as 184 of the world’s billionaires with $5.5 billion by Forbes.(Forbes)
Terry Gou has three main business philosophies.
1. Daring to give
For Terry Gou, he always remembers these words: “Thousand soldiers get easily, a will difficult beg.” He trusts that hiring and cultivating employees is one of the most important things for a company. He has never niggard to cultivate their employees. On the other hand, he puts high value on hiring talents.(WIKIPEDIA)
2. Daring to invest
He has never niggard to spend money on buying more advanced equipment or give more reward for his employees. He thought that long-term investment and development of talents is the only key for company to grow fast. Therefore, he had said, “Everyone thinks that spend money is a kind of enjoyment. I think spend money is a kind of pursuit. This is my philosophy.”(WIKIPEDIA)
3. Daring to face problems
During Terry Gou created his Hon Hai Empire, he got a lot of huge problems. But every time when he faced those problems, he always thought if he is breakthrough, it can let him get the biggest rewards, have more and more strength.(WIKIPEDIA)