JD.com is a Shanghai-based Chinese electronic commerce company with an online shopping website. One can buy products online and get them delivered on the same day in over 215 cities in the People's Republic of China.
It is one of the ten biggest venture capital-backed Internet companies by investment, and it ranks behind only Alibaba for market capitalization among new economy companies. It is a member of the Dangdang Inc. group.
How is JD.com by Richard Liu Improving Lives?
In the past year, the firm has exploded into a billion-dollar enterprise. The founder of JD, Richard Liu, previously made a name in the Chinese startup scene by building his mobile app venture in his 20s. In 2013 he was named China's most influential entrepreneur for his staggering success in transforming his company from a few dozen employees to a billion-dollar private equity-backed market leader.
• It helps improve the lives of the people it serves through its technology and infrastructure, which provides a way to make money.
• One of the main reasons JD has been so successful is that it was an online marketplace for specific products. Examples are shoes, electronics, and toys. By specializing in these categories, JD provided a better user experience than its competitors. It can be difficult to judge whether a pair of shoes you buy online will fit. It can also be challenging to choose a toy among many different brands, something that JD was able to solve early on by implementing pictures of the toys and showing the shipping prices.
• JD's technology enables it to ship goods to consumers on the same day they are ordered, rather than two or three days later. It furthers this commitment through the creation of a JD delivery guarantee. If a product is not delivered on time, JD refunds the cost of the product. It is a successful business model to distinguish itself from other online retailers in China, who typically provide free shipping but only ship within several days.
A Strong Company Culture
•JD's corporate culture also deserves recognition because it has created an environment where everyone feels comfortable and empowered to contribute. A large part of this is due to the owner, Richard Liu. He has set up a meritocracy where employees are judged on their work, not their social position. He has also created a culture team, which decides what the different types of music employees should listen to and what cultural icons and products represent the company and its values.
• Its attitude towards failure also demonstrates JD's culture. All employees, even the CEO and founder, can participate in meetings and make suggestions. The company encourages different opinions and also allows its employees to take risks because they are judged on their output rather than the results of their actions.This has indeed motivated the employees to work diligently and execute their set targets.
• JD's culture is further demonstrated by its company's sense of humor and camaraderie. The company has a JD TV channel that shows videos about different parts of Chinese culture, including ads for other products. The company also has a monthly performance review meeting that each employee gets to attend.
• JD's work ethic is also exceptional. All employees are required to work at least 12-15 hours per day, and the company even contributes a third of the salaries of its staff. It is notable because it demonstrates that the company places high importance on productivity.
• Another unique aspect of JD's culture is its dedication to the future. Every employee must sign a two-year contract, and they are given ten days of vacation every year. It indicates that the company has a great deal of faith in its employees, as it believes they are capable of long-term engagement rather than simply paying them for working hours.
• Cultural values have also extended beyond the work environment and into how it interacts with customers, making it a global brand. It has a reputation for being extremely approachable and helpful. The company has a large customer service center where anyone can contact the company, but it has also gone beyond that and implemented a JD Culture Club. It is an online community of users interested in e-commerce, tech, and so on.
Anyone can join the community to take part in live chats with leaders at JD and learn about new products that are being released. JD has also implemented an exclusive shopping club, where a select few members are given access to early product releases.
This culture has helped JD.com become the success it is today. In the past two years, the company has grown to over 15,000 full-time employees worldwide. The company is open about its expansion plans and wants to expand further into Latin America, Europe, and numerous other parts of Asia.
JD is an innovative company that has built a network of consumers and capital that is unparalleled in the industry. Its features set it apart from the competition, and its dedication to the future makes it a good company for other businesses to model themselves after. The company's focus on customer service and happiness is exceptional. It listens to its customers and develops products designed with their needs in mind. Its excellent customer service ensures that customers are happy with the service they receive from JD, even if they receive an item lost in transit or receive incorrect items upon delivery.