With a large abundance of PC manufacturers out there all trying to sell you the same things, Lenovo, a Chinese multinational technology firm, and their CEO Yang Yuanqing are implementing some generous small business tactics that may be contributing to their success. Lenovo has pushed their way into the top of PC manufacturing, surpassing $34 billion in sales. This company brings you all the day to day technology you would use including PC’s, tablets, workstations, servers, electronic storage devices, and IT management software. Lenovo is also becoming a smartphone manufacturer, with rumors saying that they may even buy out Blackberry.
It’s hard to ignore the apparent success of Lenovo, and it’s even harder not to connect it to the selfless actions of their CEO, Yang Yuanqing.
Instead of simply pocketing his $3+ million dollar bonus due to the company’s success, Yang Yuanqing took it upon himself to share his bonus with his 10,000 manufacturing employees. Although profit sharing is a fairly common practice in small business, its quite rare nowadays for a CEO of a multi-billion dollar company to use this practice. Actions like this clearly relate to the company’s success because it motivates employees to work harder when they know they will be rewarded for the company’s accomplishments.
Profit sharing is by no means something that is expected of a CEO, but it definitely has its benefits. Attracting and keeping good employees, increasing business performance, and raising capital are just a few of the benefits that i believe Yang Yuanqing had in mind while making this decision. I personally feel that actions like this will play a large role in the future success of Lenovo, and if they keep it up, you will continue to see them at the top of the charts in PC manufacturing.