Abstract: Management capability is an important source for firms to build their competitive advantages. Although firms can gain access to modern managerial techniques and upgrade their management capabilities through managerial learning, there are few studies concerning about managerial learning processes. Taking Suning Commerce Group Co.,Ltd as an example, the study explored key issues related to its managerial learning process: motivations of managerial learning, learning contents, learning mechanisms, and learning network-building. The study has following conclusions ①The dilemma of management upgrading is the driving force for managerial learning;②firms can reduce information asymmetry through visiting leading-edge firms and cooperating with professional institutions; ③firms should choose learning mechanisms based on attributes and embeddedness of managerial knowledge; ④embedding in a diverse learning network, firms can get heterogeneous knowledge which is useful for reducing information asymmetry ,meanwhile act as the main source of high-quality leaning agents for firms.