Building a tech-enabled ecosystem: A culture of innovation

A culture of innovation and failing fast drives the Chinese financial conglomerate’s expansion beyond traditional sector boundaries and its early adoption of emerging technologies…”We have a clear vision and set very aggressive targets. No matter your background or position, at the end of the year, the only thing that matters is whether you’ve delivered your results or not. That helps to galvanize people to work together because if they don’t, they won’t meet their targets.…In this culture, everyone is able to speak up with new ideas or objections. There’s no sacred ground that you can’t touch, and that’s a philosophy that has really helped us over the years. Risk taking is strongly encouraged, and failure isn’t stigmatized. When I first came to Ping An, I remember Peter Ma, our founder and CEO, telling me, “You don’t have to worry about failing at all. We just need you to try really hard to find a way to make it work. As long as one of these ideas eventually works, we’ll be successful…”