E-commerce
With the startup of lifung.com the two entrepreneurs, William and Victor Fung were worried about a myriad of problems that could plague the new section of Li & Fung. As William Fung stated, “I’m 51, I’m more than a grey hair in Internet terms, I’m a fossil”. After all, lifung.com would not be a typical Internet startup, springing from a almost 100 year old company started at the end of the Qing dynasty in 1906. Both William and his brother Victor are graduates of Harvard Business School and have managed to transform Li & Fung from a family owned business to a professionally managed firm with outstanding growth and potential. Li & Fung is facing the challenge of opening up a web portal, lifung.com, and not interfering with the more traditional day to day business that is well established in the market. Li & Fung is a company that does over $3 billion in assets. It has grown both organically and through strategic acquisitions. It does business in over 30 countries with outstanding growth potential. Run in a entrepreneurial manner allowing managers to manage teams much like individual companies. Li & Fung is far more sophisticated than a typical trading company. They have evolved into a company that orchestrates
Some topics in this essay:
Li Fung, Li Fung’s, William Fung, li fung, Chinese Communist, Mclaine Camberley, b2b portal, Profits” B2B, Victor Fung, Hong Kong, li fung’s, Business School, William Victor, key customers, outstanding growth potential, “3 plan”, business b2b, growth potential, planning system, traditional offline, acquisitions li, supply chain management, acquisitions li fung, traditional day day, business b2b portal,
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Approximate Word count = 901
Approximate Pages = 4 (250 words per page double spaced)
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