Richard Liu Qiangdong rose from the owner of a 4 square feet store to the CEO of his online business empire, JD.com. When he was starting in 1998, he gave his establishment the name Jingdong and his main goal at the time was to make money and take care of the costs of this ailing grandmother. He also did not intend to work in a government office and therefore being an entrepreneur was the profession he wanted to pursue.
Richard Liu is a college graduate with a sociology degree and also an EMBA. Prior to starting his own business, he worked as the Director of computers for 2 years in a health products company. Heas honed his skills in computer programming during his college years. His company Jingdong grew rapidly and they were 12 shops under his leadership by 2003.
The SARS pandemic in 2003 inconvenienced the sellers and buyers. Face to face interaction was a risk to catching the virus, therefore the workers in Richard Liu Qiangdong’s shops had to go home. In a meeting with managers to strategize the next move of the company, one of them suggested for an online shop because then the seller will not have to meet physically with the customers. JD.com was born out of this suggestion.
In 2004, the online business was not yet stable. Richard Liu compared his past model with this new one and realized that the online model had more benefits. There was improved customer experience, and the costs of the company logistics were lower. In this time, the online market was chaotic, and the existing online shops were selling customer fake products and the prices were exorbitant. Richard Liu Qiangdong did not want his company to be like the rest of them, which is the reason he would source for genuine products to sell to his customers.
When the online business kicked off, they were selling IT items, and mobile phones. Money was a constraint at this point, However, each year, Richard Liu added more products and in six years JD.com had stocked almost all types of consumer products. Currently, it has hired more than 167,000 people.
For details: www.forbes.com/profile/richard-liu/#291a7bfd2677
Many people who have knowledge about financial industry know Fortress Investment Group as an organization that has played a significant role in demonstrating how companies should register in the stock exchange. This remains to be one of the most renowned factor that brought the organization to international level. However, the company has been known for other important roles such as being the best entity in incorporating technology in asset Management Company.
The founder of Fortress Investment Group, Randal Nardone, wanted to start an organization that is different from other financial management companies in the industry. Most of the financial organizations operating at this period were not offering quality financial services because they had not incorporated any form of technology. This means that most of the services that the customers were getting were not commensurate with what they were paying.
Fortress Investment Group incorporated technology in activities with the sole aim of ensuring that the customers received quality services. The customer department was instituted with some of the most advanced technology such as modern consumers with management software that focused on ensuring that they were providing services to all the customers who were visiting the organization. The large number of the customers who were visiting the organization received immediate services. This was a different approach as compared to other organizations that were offering low quality services to their customers.
Technology was also incorporated with an aim of ensuring that the entity was able to understand the financial industry better. For example, it was difficult to conduct financial industry because not many companies were not able to determine the challenges facing the industry. One of the main purpose of technology was to help in performing financial forecasting, which would help the entity to minimize the losses.
Additionally, Fortress Investment Group wanted to operate efficiently than other financial industry that were spending much money in their operations which was minimizing their income. This explains why a significant number of asset managers in the industry were experiencing losses. However, incorporating technology helped the entity to operate efficiently. For example, the company could minimize the number of employees hence saving much money that could be used in other activities.
Learn More: www.inc.com/profile/fortress-investment-group
As an investment adviser, Highland Capital Management is one of the foremost experts within the marketplace for investment banking. The firm, registered as an SEC-investment adviser, now has more than $15.4 billion in assets under their umbrella to manage from various sectors. One of the most vital things they focus on with the company is how they can be involved in the community around them. During a season when other firms would not make investments, it has become obvious that a resource able to lend money to those in need with alternative credit options would assist in raising the bar of the economy.
HCM today assists both large and small companies find their way with hedge funds, endowments, credit hedge funds, funds for emerging markets, public pension plans, and accounts or investments for high net-worth individuals. Based out of Dallas, Texas, this investment banking firm has become a household name within the community, donating thousands to charitable causes within the city of Dallas, with a total of more than $10 million dollars donated to organizations around the world.
The founders of Highland Capital Management, James Dondero and Mark Okada, both knew that there was an opportunity available to them when they joined forces to start the foundation for Highland Capital Management in 1993. Having worked in the leveraged finance market, Okada was a great partner and resource for helping those in need of alternative solutions. With more than 20 years of experience in finance, Okada knows that he can assist numerous clients with various financing strategies.
James Dondero also has vast experience in the marketplace, serving as the Chairman of the Board and Chief Executive Officer of Highland Acquisition Corporation. Dondero has made this arm of the company his focus since April 2016, serving as the President of this arm and focusing on acquisitions that will not only be mutually beneficial for the company and the client, but those that may encourage others to look to HCM for investment strategies.