Richard Liu is a successful businessman and entrepreneur in China. Richard Liu is the founder and chief executive JD.com, the largest internet based company in China.
Currently, JD.com is the fourth largest company in the country. The company was formed in 2004 although retired Liu was in business from 1998. Before, he was managing 12 physical stores that dealt with computer accessories and digital products. It was determined to make it in business, but everything did not work out as he planned. The computer accessories business was not working as he intended and he decided to close down for some time and came back with a new idea. Richard Liu sat together with this managers to come up with a new way of making it in the business, and this is when they found the idea of setting up an internet based business as a great idea.
Richard Liu has built his business career from scratch. Everything he has accomplished today has been through hard work. The name JD.com came from a combination of his name and that of his first girlfriend. When he was growing up, his family ran a small transport company that influenced him to take business tasks. He identified that his parents’ business was not doing well and it would have been a great decision if he would have been in a position to put a business that would thrive successfully.
Richard Liu created his first business while attending college in China. It was a restaurant that unfortunately collapsed to reasons he attributes to lack of sufficient time to concentrate on its growth. He was in his third year in college, and therefore he had very little time to engage in work outside of class. He only had 2 hours a week to engage in business. The failure of the first business would not dampen his spirit. After college, he set up another business that had 12 physical stores in his home district. Get Related Information Here.
Richard Liu started this business before going to university. He was inspired to start the business by the challenges that he saw his parents go through due to lack of sufficient income. At the same time, his grandmother who he held a close relationship with was sick and would not afford medication. He needed money, and the only way was through business.
Today, JD.com stands at about $60 billion whereas his personal net worth is about 12.7 billion. And in 2017, Richard Liu became a “Variety500 Honoree” as a result of his persistence, innovation, and hard work. During his free time, the billionaire loves to either spend time with his family or volunteering at Red Cross.
Check out his profile on https://www.linkedin.com/in/richard-liu-54849942/
On 10th march 1973, a well know internet entrepreneur by the name Richard Liu Qiangdong mostly known as Richard Liu was born. Richard Liu is well known as the founder of JD.com, the leading electronic commerce industry in China, which is also known as Jingdong Mall.
Richard Liu was born and lives in china in a city known as Beijing. Richard Liu studied in one of best universities in china known as Renmin University. Richard Liu net worth since then has risen intensively. Richard Liu has graduated from university with a degree in sociology.
In the year 2004 an online retail website was hosted by Richard Liu and it was the first to be launched by him. Richard Liu had a full strategy that the company was changed from a business model of selling only consumer electronics and it employed a system of selling large variety of goods all over china.
While in the college Richard Liu had some earnings from his computer programming and he also had his first entrepreneur as a small restaurant but did not speak well. This was because he could just devote only two hours to his job and rest to his studies. The money gotten was to be used in paying his grandmothers medical bill and treatment conditions. Get Related Information Here.
There was an outbreak of a certain disease that made it difficult to Richard Liu Qiangdong to interact with his customers hence forcing him to close all his shops and stated online business.
According to Richard Liu Qiangdong, he compared an online and offline business and concluded that online business was much cheap as compared to offline business since it was more efficient and less costly and also most of the customers were well satisfied by online business.
In the online business, Richard Liu added more of information technology products that were digitalized. Some of the products included were cell phones and many more. As we talk the online business is offering over billions of different products and its net worth is very large.
Richard Liu has offered a large percentage delivery of products to his customers within the shortest time possible.
Check out his profile on https://www.linkedin.com/in/richard-liu-54849942/
Migrating to the online retail business is probably one of the best moves to make in this century. Most of the business transactions are already online with innovations like cryptocurrency in the pipeline to ready to make every possible transaction completely virtual. Though moving your business to the online world may be appropriate, not knowing what to do or how to do it to optimize on the investment can and already have brought about the end of many dreams.
The e-commerce revolution has made it more convenient for clients or customers to make purchases at whatever time they want. By doing so, e-commerce has created opportunities for retailers as discussed above as well as challenges that need understanding for the sustainability of the business. One of the biggest online retailers in the world JD.com is an ideal place to start the research before taking this business risk.
JD.com has become the world’s leading e-commerce retailer through the incorporation of high-end technology in the provision of services, philanthropic approach in their business-customer relations, and by ensuring that they preserve and remote environmental sustainability in their areas of delivery as well as within their market reach.
With the increasing rate of technological acceptance in China and the rest of the world as well, the market for e-commerce products is rapidly growing on a global scale making global consumption sustainability one of the priorities of the business. The following are steps in which Richard Liu Qiangdong, the founder of JD.com, has laid the foundation of his company. Get Related Information Here.
Their recent step in the article “JD.com Launches New Reusable Package Initiative” is a big one. It signifies that the company has put their full force behind making the company a truly environmental company.
In the delivery process, JD.com has put in place a number of policies and regulations to reduce the waste, which is one of the goals of the company. They have achieved this goal through the use of reusable packages and the use of bio-degradable technology as well.
JD.com has achieved sustainability of the business, by ensuring the sustainability of the environment around them. This is made possible through the use of alternative fuel and energy during delivery of products during transportation. The company target is to reduce the emissions of carbon monoxide during transportation by the converting to green energy.
Watch their video on https://www.youtube.com/channel/UCj1O__aZW_05RdTCL8E3kUA
Not all business ventures start out the way that we want them to. Richard Liu Qiangdong is no difference. His original business venture was a restaurant as a sociology student for Renmin University in China. He had saved up a lot of money from his tutoring jobs and various other business endeavors. He believed that he could use that money to fund a restaurant. Unfortunately, while he did have the startup funds, he was not able to put in the amount of time that is necessary to grow a business like this. Restaurants are notoriously difficult to get up off of the ground. The amount of money that they make is very thin on the margins and it takes an involved manager to make a profit.
This is one of the stories that Richard Liu Qiangdong tells Weforum in a recent interview with David Rubenstein entitled “An Insight, An Idea”. He looks back at this time with thought, believing that it set him up to be successful with JD.com in the future. Some years later after he had graduated from college, Richard Liu decided to try again.
Over the years he had worked for a variety of companies that taught him a lot about what he wanted out of his own business. In 1998 he opened Jingdong Mall. Jingdong Mall would eventually be the online retail company JD.com. In 2005 he was forced to move the small electronics business online because of low sales due to a recent outbreak in SARS. Moving the store online would prove to be the smartest decision he could make.
Currently, JD.com is regarded as a massive retailer for China. Chinese citizens go on to the website every single day to order necessities and trust them to deliver those items very quickly. In fact, during the interview Richard Liu explains that JD.com has a very quick turnaround when it comes to their delivery. See This Page for more information.
In a lot of cases, they can get items to customers in as little as two hours. It is staggering how quickly they have streamlined the process and Richard Liu Qiangdong believes he can go on a global scale. Only time will tell how successful he will be in this new arena.
See Also: https://www.aacsb.edu/about/advocacy-and-awareness/member-challenges/influential-leaders/recipients/richard-qiangdong-liu
Many people know JD.com because they are the biggest online retailer in China, the most highly populated country in the world. JD generates literally billions of dollars every year. However, the company is also known for being very charitable. Jingdong is another name that the company goes by. They have given away very large sums of money to help people in China who do not have very much. One example of this is a recent campaign where they donated money to buy school bags, books and clothing for children that have been left behind.
There has been a big problem in China of parents who live in rural parts of China moving away from their children so they can find a job in a big city. The children are usually raised by their grandparents in these situation. The places where these children live are often very cold. Visit This Page to learn more.
Therefore, it is imperative that these children have the proper clothing so they are able to stay warm. JD.com wants to help these children by buying them the items that are essential for their survival. There are an estimated seven million children who have been left behind by their parents in China. However, this number used to be much higher than it is now.
Jingdong also has a partner in this project. They are teaming up with Wardrobe of Love. This is a charitable organization that focuses on clothing poor people in China. The union of JD.com and Wardrobe of Love has been a very successful one. They have been able to distribute a large amount of clothing and other essential supplies to the children who need them. They have both said that they would like to work with each other again in the future on similar projects.
JD.com has always stated that they are always trying to think of new and innovative ways to help people in China to have better lives for themselves. This project has been a success. However, JD.com knows that there are still many people who need help. Therefore, they will be launching similar projects in the future.
More about JD.com on https://finance.yahoo.com/quote/JD/
Richard Liu Qiangdong is unquestionably one of the most successful business people in the world of new markets and technology in Asia. For the last two decades, Liu has made history as the first single person to impact the Chinese commercial space with his company JD.com. Through his company, he has always revolutionized the retail market both in Asia and in China. It is interesting to see that Liu is still building structures and collaborations around this niche and the future of the retail market in China can only be big.
In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.
Prior to 2004, Liu Quiangdong was just an average businessperson. The SARS epidemic was his turning point as a businessperson and as an investor. According to him, the SARS epidemic almost made him run out of business. However, the presence of virtual space is the reason why a small store business is now a billion-dollar business. Richard Liu Qiangdong realized that he could still trade even without physical interaction with his clients. JD.com was born. This new trading space improves after-sale services since he could only interact with clients on a third-party basis. See This Page for additional information.
Richard Liu Qiangdong attributes his success to many factors. First, he acknowledges that his ability to change and adapt to new changes has always been his strongest point. The virtual market is ever changing, and Liu points out for JD.com to remain relevant, the company is always in constant change. Second, in order to compete well with other alternatives, Richard Liu Qiangdong points out that a company must have the right approach to customers. JD.com serves as the best example of what a customer-based organization looks like. The company has invested in customer services for the past 16 years. Through this approach, they have been able to keep clients and gain new customers.
In addition, Richard Liu Qiangdong believes that business philosophy can make the company either the great or just an average company. JD.com as a company has a firm policy on the quality of goods. This firm policy according to Richard Liu Qiangdong makes customers have unmatched trust in the company.
Source Article: https://jdcorporateblog.com/about-liu-qiangdong/