Our Chairman Mr Hans Michael Jebsen was recently interviewed by the world-renowned business publication Fortune China. In the six-page interview feature, Mr Jebsen explained how Jebsen, as a century-old family business, constantly adjusts itself and adapts to the times in the face of drastic changes in the economic environment, technology, market and society.
Mr Jebsen explained, “The impact of digital technology and the popularity of Internet on foreign trading companies is undoubtedly huge – but over the last 130 years, we have changed our business model at least three times already! We originally started with shipping from A to B, then we added trading with our own ships. Next, we began distributing consumer goods, industrial products and more; and today, we have added investment by creating Jebsen Capital in 2017.”
In the interview, Mr Jebsen shared Jebsen’s route to success. The traditional way of thinking is that trading companies rely on bridging the information gap between the market and consumers as their key to success. But in the digital age, consumers have immediate access to information from around the world – so how can Jebsen benefit from bridging the information gap now?
To elaborate on this, the article quoted Professor Joseph Fan of the University of Queensland Business School who said that he believes Jebsen has survived for over a century not simply by eliminating the information gap, but also by establishing trust between buyers and sellers. This has been the biggest investment in building Jebsen’s business network and is something that has been accumulated over a long period of time.
During periods of economic depression, people often experience a lack of confidence. Regarding crisis, Mr Jebsen said, “I think a real crisis is when you know that there will be situations like famine or war. When our trade goes down 10 or 20 per cent, that’s not a real crisis. What I care about is that none of my employees became seriously ill or died during the pandemic, for example.”
In the interview, Mr Jebsen expressed his confidence in global trade and China’s status within it. He also expressed his love for and belief in Hong Kong. He shared, “Hong Kong will always attract people with positive attitudes and the courage to take chances. It has an irreplaceable cosmopolitan character, which is rarely seen elsewhere.”
For the original coverage, please click here.