Richard Liu is one of the top entrepreneurs in China. He is the founder and chief executive officer of a top retail company known as JD.com. As the top executive and founder of one of the most reputable retail companies in China, Richard Liu has been interviewed a number of times. In his most recent interview in 2018, he talked about his business and how he manages it.
One of topics he discussed was how the company was started up. During this interview, Liu talked about how the company was founded after looking for a way to reach customers through ecommerce. Since his company is in the ecommerce retail industry, Richard Liu Qiangdong has talked about his company’s shipping policies. He said that in major cities such as New York and London, his products can be shipped within a few business days. However other cities such as Washington DC will require up to two weeks to be shipped to a customer.
In 2004, Richard Liu Qiangdong founded JD.com and looked to build it into one of the most successful retail and ecommerce businesses in China. The company sells a variety of common products that are practical and useful for most customers. Over the last few years, Richard Liu has looked to expand the company and build it into a leading international company. As well as expansion, Richard Liu Qiangdong has also looked to improve the company operations. Liu has emphasized technological development to create a more efficient shipping process. Today, the company uses drones to ship products to customers throughout China.
Prior to starting up JD.com, Richard Liu Qiangdong started up another business. The company was called Jingdong which specialized in selling a number of optics products. While the company was successful at first, it was eventually shut down due to an outbreak of SARS. Since customers were no longer able to leave their homes, his business suffered. See Related Link for additional information.
This prompted Richard to start the ecommerce business JD.com. Richard Liu Qiangdong worked as a director or computers and business as well as being a freelance computer programmer before becoming an entrepreneur.
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.
There is a business quote which is very common with successful entrepreneurs. They state that you should take care of your employees, because they are the direct link to your customer, and they get to decide how the customer will feel about your brand. Louis Chenevert, a renowned business leader, an entrepreneur seems to read from the same school of thought. He states that there is no better way to bolster your business success than working on your current employees. He adds that when a company has a low turnover rate, it has a higher possibility of meeting its growth goals.
Creating the optimal workplace is not as hard as many bosses believe. The first thing that you need to remember as a boss is that it is possible to create an optimal workplace, as long as you are willing to make changes which will make the employees enjoy spending their time in the given workplace. He adds that fostering positive relationships and avoiding poor leadership styles such as divide and rule, always works in making a perfect workplace.
The other recommendation which he makes about improving the workplace is that there is no better way to encourage employees to stay on and work hard than to have awards for the ones who do well. He stated that while there are cynics who will laugh at concepts such as the employee of the month, it makes everyone have something to look forward to as they set their work goals.
The third way which Louis Chenevert recommends to try and improve the workplace is investing in the academic and professional development of the employee. One of the best ways to do this is creating employee scholarship programs such as the one that he initiated in his company, UTC. He states that after the program was introduced, more of his employees felt encouraged about staying on and improving themselves. When they got higher qualifications, they would get promoted within the organization, which encourages the others to work hard and get the same benefits. These are the types of incentives which support business growth.
Mike Bagguley is the new chief operating officer of the investment banking unit at Barclays. The step to appoint Bagguley to this position came as part of the plan by the bank to beef up its investment banking operations. Barclays was once booming with investment businesses but lost its way leading to a significant decline in investment banking operations. With the new appointment, Barclays is hoping to get operations back to normalcy; like it was during the past glory days. Before the promotion, Mike Bagguley was working as the head of macro markets division at the bank. He will be working under Tom King, the chief executive of the investment unit.
Mr. Bagguley was promoted after recording impressive results in his former position. He helped the bank reshape macro business in areas of interest rates, commodities products, and foreign exchange. These changes were necessary since the bank had to move with speed to implement measures that would get the bank back to profitability after suffering from tough regulations in the banking sector and a decline in trading revenue. From the statement released by the bank, Mike Baggley will be responsible for the coordination of projects in the investment unit.
The appointment of Mr. Bagguley came after a streak of changes in senior management of the bank. Earlier, Sir Gerry Grimstone was appointed as the deputy chairman. Grimstone is an experienced financial expert who has previously worked with financial group Schroders as the global vice-chairman of in-charge of investment activities. Other appointments have been made in the investment banking unit as Barclays shows commitment to re-position itself as a leading investment bank in the world.
Barclays’ senior management has full confidence in Mike Bagguley to accelerate delivery of the goals they have set to accomplish. Bagguley experience as a senior banker will help him put together key infrastructure to achieve growth within a short time.
Mike Bagguley has been at Barclays since 2001. His roles have mainly been around fixed income operations. He has previously been assigned duties in Johannesburg, Tokyo, London and New York. He finally joins the investment banking unit as the COO to replace Justin Bull who left in April.