[ Tips ]
Zheng, Xiaoming;Zhao, Ziqian;Bai, Bingfeng
Chinese Online (COL) was one of China''s largest Chinese-language digital content distributor. Its offerings ranged from literature, audio, TV, film, and micro-drama. From 2018 to 2020, the company was in serious financial trouble as a result of an unwise acquisition. The founder of COL returned from overseas to turnaround the company by executing a strategic refocus to its core business field, which was literature and other forms of content. In addition to business contraction and cost reduction, he creatively designed a collective decision-making system called Class Committee, where he encouraged divisional heads to break the ice and make decisions together. This mechanism aligned divisional goals and allowed for executives to understand COL''s business lines from a more integral perspective. In early 2021, COL recovered from the crisis thanks to the executives'' joint effort. Tong was thinking how to leverage this mechanism to cultivate the next generation of CEO.
Organizational behavior;Leadership;Collaboration and teams;Turnarounds;Social media;Cybersecurity and digital privacy;Employee empowerment;Creativity