However, it still didn’t look like a world-beater in 2007 when the management team, which I had joined full-time the year before, met for a strategy off-site at a drab seaside hotel in Ningbo, Zhejiang province. Founder Jack Ma has become a household name.įrom its inception, in 1999, Alibaba experienced great growth on its e-commerce platform. Today, the company has a market cap among the global top 10, has surpassed Walmart in global sales, and has expanded into all the major markets in the world.
This article provides a framework for transforming a company into a smart business.Īlibaba hit the headlines with the world’s biggest IPO in September 2014. Players in the ecosystem share data and apply machine-learning technology to identify and better fulfill consumer needs. This is an emerging business model that Ming Zeng, the chair of Alibaba’s Academic Council, calls smart business. It harnesses the efforts of thousands of Chinese businesses to create an ecosystem that is faster, smarter, and more efficient than traditional business infrastructures. do, with a healthy helping of financial services for garnish.Īlibaba achieves this by leveraging the new technologies of network coordination and data intelligence. Indeed, Alibaba does what Amazon, eBay, PayPal, Google, FedEx, all of the wholesalers, and a good portion of manufacturers in the U.S. Instead, Alibaba is what you get if you take all the functions associated with retail and coordinate them online into a sprawling, data-driven network of sellers, marketers, service providers, logistics companies, and manufacturers. It doesn’t source or keep stock, and logistics services are carried out by third-party providers. Alibaba is not a retailer in the traditional sense.
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