Merchants highly stressed fiduciary responsibilities, including staff on the boss’s trust responsibility, the boss of the client’s fiduciary duty, and the corresponding system designed to ensure the implementation of this responsibility
Lang / Culture
Merchants glory is its unique geography of the environment. Since ancient times, the country has a unique Shanxi Salt Pond, abundant, and Henan, Shandong, close to major grain-producing provinces, but also in the east and west, connecting the South and the North position, since ancient times and mixed with the life of ethnic minorities. These advantages make Shanxi Province in the Ming and Qing dynasties have developed before the commercial trade, but also the material basis for the formation of the Ming Dynasty Merchants.
The founding of the Ming dynasty when the northern border guards troops of 90 million people, divided into nine depot, that is, nine positions. In order to prevent violations of the Mongols, it is called Nine. This nine border posts, there are four in Shanxi Province, which can be developed to Shanxi a unique opportunity. Nine troops as much, which is 90 million, forage becomes a big problem. Ming Dynasty when China just opened usually by Hunan, Anhui transport forage, and made anger and grievances. Finally thought of a way to open the system called. Transport food to encourage businessmen to nine side, and then salt the Ming government to give him a ticket, then called the salt, table salt is actually operating certificate.
Ancient Chinese dynasties have taken the government monopoly on salt policy, salt was the main reason is to control the interests of large, was no less than today’s control of oil and coal interests. Ming government relied on it an incentive mechanism to encourage the businessmen and transportation to the north, for the ticket.
In this environment, Shanxi most convenient, so accumulation of large numbers of food to the north, take the salt for salt, etc., Shandong, and then merchants arguments. However, after five hundred years after the operation, this system had a major problem – corruption. Local officials do not hold the salt lead to the Shanxi merchants, to their relatives. Therefore, this system undermines finished. So pushing a new system, called the open system were reflected color.
However, in 1492
Years, the Ming government regulations, traders at the northern border and then to use the food for the ticket, salt controller in the Mainland can go to the Secretary of salt with silver in exchange for votes. As a result, Shanxi has the location advantage of business previously gone on the ticket has no control, together with official corruption, is facing an unprecedented crisis of Shanxi merchants, many merchants so Shanxi bankruptcy.
But at the time of the Shanxi merchants have not been defeated, because of destruction of the Ming dynasty, the Qing dynasty up. Qing Dynasty in the north was alien, so the Qing Dynasty with intermarriage between Mongolia, the Mongolian race is between the Qing Dynasty with, so the North all right. Then north specialty is ginseng, mink, Ganoderma lucidum, etc., of the South production wok, salt and tea. The north is the junction with the south of Shanxi, Shanxi businessmen got so Qing geographical convenience, the North has not been caught, they begin to trade. Northern Mongolia, there are very necessary pots, do not create their own. How change it? There was no money, then say he want to change mink Shanxi merchants to barter, we are very happy.
But at the time of the Shanxi Merchants not only that, I think this time is called the Merchants began, because this period of Shanxi merchants to create a unique chain management around the world. Was only a small business selling salt only, this time was different.
Let me give an example, today one of China’s factory Barbie doll factory price one U.S. dollar, sold close to 10 dollars U.S. prices. 10 dollars minus one U.S. dollar in nine U.S. dollars is Who created it? Is in addition to all the major logistics manufacturing sectors other than manufacturing, including transportation, packaging, logistics, warehousing, wholesale, retail and the entire logistics chain to create a large value of the dollar 9. Therefore, in terms of the Merchants they have more than our generation of entrepreneurs to find wisdom, you want to be a successful businessman, to control the whole chain, not just manufacturing. However, tea traders from the south, Shanxi, from manufacturing to packaging, to processing, to transportation, to wholesale, the retail end, full control of the whole industrial chain. I believe this is the world’s first high-performance integrated industry chain. This is not easy. In other words, to Barbie dolls in this instance, for example, by making the tea is not simply a dollar, but the whole industry chain of 1 plus 9 dollars, 10 dollars throughout the entire cover from the Shanxi This is the real wealth.
Why are our manufacturing so difficult, why the United States so rich? Due to the Barbie doll, for example, the United States through the creation of a large part of the logistics of the production value of 9 times. Therefore, the more manufacturing in China, the United States the more affluent, this is the so-called international division of labor.
Different Shanxi merchants and Shanxi merchants not only control of a dollar of tea production, while in control of the back nine dollars. Thus, Fujian Ye Hao, Hunan Ye Hao, Guangdong Ye Hao, the more you produce of tea, the more you create, the more affluent Shanxi merchants. Therefore, when the United States today is rich and wealthy merchants of Shanxi soul is the same as that control the entire logistics chain which links the big, the big logistics sectors, including product design, raw material procurement, storage and transportation, order processing, wholesale and retail business as well as terminal . The few hundred years ago is like this, today is like that. Today to see who can control the whole industry chain, while the decline in manufacturing today, the most important underlying reason is that the whole industry chain in the United States controlled. At this moment I want to give a high degree of Shanxi at the time of respect, because they really do not easy.
As a rule the roost for hundreds of years the business group, in the Ming Dynasty with a favorable geographical location, transport rations received by the government of “lead”, earned the first bucket of gold, a great business resource monopoly. As the war in the Ming and Qing dynasties, establishing good relations, Shanxi by the Qing government’s special privileges, access to a huge development. 1823 Rishengchang opening, beginning the Qing conquest of Shanxi prelude to the financial industry, eventually becoming dominated Qing Shanxi economic lifeline, Huitong the world’s “Number One business group.”
In the Draft stage, Shanxi has created a unique world, unique new stock. The stock is amazing, and is extremely smart, very wise. What kind of a stock? Called unlimited liability joint-stock, and we listed today called limited liability joint-stock company, or Corporation. What are they? They share an unlimited company. In other words, the boss of Shanxi, once encountered the problem, he should proceed from their possessions to pay out the money inside, which is an unlimited company characteristics. The Limited is easy, listed companies, will not do so, the company was closed, their property could be retained. Which limited liability is that many countries, including China’s listed companies hurt investors the most effective way, after having emptied the company assets, put bags inside, people ran away. Then you can only call a limited liability company settlement company settlement of what are empty? Therefore, Inc. itself is a problem. And Shanxi merchants decided to use an unlimited stock, it does, we should give a high degree of respect, because that Shanxi merchants fiduciary duty for their customers.
I have always stressed that the trust responsibility, I think the first step is to start from the Shanxi merchants. And Shanxi is China’s first business management company with separate ownership.
Found a club to help him take care of dispensers, and the dispensers of the fiduciary duty to maximize their own club to help make money, but whether you make money Ye Hao, losing money both mean owner, the shopkeeper in itself does not require compensation, Who will pay a sum of unlimited liability then? Compensation from the club behind. However, Shanxi great emphasis on the fiduciary duty of the treasurer, to whom the fiduciary responsibility? For the owner’s fiduciary responsibilities. The club emphasizes what? Fiduciary duty to his clients. So at this stage of the Shanxi merchants, after speaking earlier in the integration of industrial chain, they once again give us an unprecedented new concept of people: the trust responsibility. That owner took out the responsibility system by unlimited compensation for their own money to protect his client, the treasurer does not need compensation, but play to their fiduciary responsibilities, the maximum limit for the owner to make money, what a wonderful ah.
Then, of course, then owner to pick dispensers, also has his governance was not a random pick of. How to get some trust responsibility of the shopkeeper? He came up with two ways: first, the rule of law. What is legal? Dispensers must be from Shanxi, of course, must not let opportunities outsiders field is certain; In addition, the recommendation must come in person to do business with money secured, and the business it is best to number the tickets with us, has business dealings of. As the business do you have security, which is legal. The businesses to prevent their loss, and ticket numbers to prevent the loss, he must be strict supervision, to strict selection, with this so-called the Danbao the legal power to ensure that his staff had trust Zeren yes, that is the treasurer origin. Commercial guarantee is a legal establishment, unfortunately this system is handed down.
The second approach, education, three years apprenticeship. In addition to teaching your abacus, engaged in accounting, treasury, the very important point, moral education. In fact, when the dispensers do Shanxi or two dispensers or staff, it is very difficult.
Merchants in the prestigious Rishengchang quite large dispensers Leilv Tai, the first is to start small boy. Early years, the business school to shop for new-boy known as “Dear husband.”
Dear husband revolve by the master, at least after three years of difficult times. Either cold or heat, apprentices have to get up before dawn, sorting the House, kettle cooking, food dispensers respectfully wait on living, or even go to help the treasurer of the chamber pot drained. End points such as the counter one day, Zhang Deng hours, take the plate home. Night, in addition to helping instructors organize their inventory of goods, arranging dispensers break, the their need to learn abacus, brush or accounting practice, very late to bed.
After years of honing a lot of small guys that, with an absolute sincerity of the will, opened a “keeper” of the stone door.
Why must be very hard, he made you for? Fiduciary responsibilities. Not that you all enjoy there, because you are a fiduciary responsibility to professional managers, is the treasurer, you have to set an example for man, your life purpose is to make money for the club, but also the most moral, the maximum capacity of their own serving you money.
(This article Source: New Century Weekly)
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