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2009/10 Annual Report Lenovo Group Limited
7
More importantly, it is because of the fundamental
changes within Lenovo ranging from the top all the way
down to the grassroots. All our staff was determined
to embrace and steadfastly execute the new strategy.
By leveraging its solid management and professional
capability and its leadership position in China’s PC
market, Lenovo has expanded quickly into emerging
markets and its transaction business around the world.
The Group has improved its operational efficiency, and
turned the business around in just a short time. The
Group has achieved its highest global market share
in its history. Lenovo has become the fastest-growing
group among the top five global PC manufacturers
during the second half of this fiscal year.
Why can Lenovo achieve these?
It is because CEO Yang Yuanqing, with support from
the Board, has built a good leadership team. With an
approach blending Eastern and Western practices,
the team has developed a very sound strategy. This
team’s scope of responsibility covers the whole
spectrum of functions of the Group, so they can
access comprehensive and timely internal information.
The team members have both the expertise and
experience. When creating a strategy, they started on a
conceptual and macro basis, after rounds of thorough
and open discussions and debates, then moved to a
detailed and micro level. What’s more, when developing
the strategy they also considered how it would be
executed within their respective organizations and
functions. Therefore, the actual execution proceeded
more smoothly and with greater determination. In this
way, the management team succeeded in delivering
on all of its commitments both to the Board and to our
customers, while gradually establishing its authority
and credibility among the staff. It has been especially
delightful to observe the “We Do What We Say; We
Own What We Do” Lenovo Culture being embraced by
our staff and the resulting boost in their morale. All of
these developments have laid a solid foundation for the
Group’s long-term development.
In addition, Lenovo has focused on technology and
product innovation. Several of the Group’s newly-
launched products have garnered top awards at
the Consumer Electronic Show in Las Vegas during
January 2010. These honors have demonstrated our
efforts of in enhancing profitability through innovation,
not merely through reducing costs. In the future,
Lenovo intends to continue to invest in technology
innovation and brand building to maintain sustainable
profit growth.
I have full confidence in the new management team.
I have complete faith that they will analyze both
industry trends and global economic prospects in
depth, and then develop an effective strategy. The
primary characteristic of this strategy is that it will
integrate innovation not only into technology, but
also into business models and management. The
Lenovo management team is now full of passion, and
pragmatic and enterprising spirits. I strongly believe
that they will bring Lenovo, step by step, to new
heights and more aspirational goals.
Liu Chuanzhi
Chairman of the Board
Hong Kong, May 27, 2010