Alibaba Group and its Impact towards Business & Society
Alibaba Group is an e-commerce company founded by Jack Ma in year 1999. As an entrepreneur, one must be willing to take the risk in starting a business. Being an entrepreneur, Jack Ma has vision, innovation and determination. He foresaw the potential of the Internet that is going to help in business growth in China. He took a risk and began his entrepreneur journey. He started the business of Alibaba to help other small businesses to grow through technology. He learned to solve the problems occurring in the society and learned how to gain funds as he needed to explain his vision and convinced others to take out their money to start Alibaba. Furthermore, he mentioned that he learned from his mistakes when starting up the business. Now, the company is expanding globally, and Alibaba has become the world’s largest IPO. Jack Ma is also China’s richest billionaire. Technology played an important role to begin the business of Alibaba. The company used the Internet to create more businesses for people. Alibaba offered business-to-business online portals, data-centric cloud computing service, online payment service and a shopping search engine. In the modern world, a lot of businessmen and consumers used technology such as computers, cellular phones and the Internet to provide and to purchase goods and services. For most of the people in China, they would access Alibaba and other websites based in China at their convenience. Consequently, these have brought tons of profits for Alibaba as the company act as a middleman that charged annual fees and commissions when others used it for business purposes. Hence, we could see that the technological environment is necessary for the growth of Alibaba. Labor source is always essential in producing goods and services. Alibaba Group created job opportunities to the society. From the article, it is shown that Alibaba has become a public...
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