BUSN 1101 Chapter Notes - Chapter 1: Ant Financial Services Group, Exxonmobil, Taobao
23 Sep 2018
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Company example: jack ma (alibaba group ceo): he started building rudimentary websites for. Chinese companies and in 1999 he founded what is now known as the alibaba group, a family of online wholesale and retail companies. The empire began with alibaba. com, a business-to-business platform that allowed even small businesses access to a vast network of sellers. Building upon this success, ma launched taobao and tmall. com, retail sites targeting the burgeoning chinese middle class. One of the keys to the success of these sites is alipay, a financial services firm that provides safe transactions, accounting for as much as 80 percent of online sales. Through alipay, money is held in escrow until quality of goods is confirmed. This protection has helped to overcome concerns about subpar and fake goods and inadequate remedies through the chinese legal system. Marketing has played a big part in the company"s success.
