"The third step is to carry out independent research and development in parallel with cooperation. We cannot rely solely on external investment, but must also set up special technology research and development laboratories within the company to attract top scientific research talents to join us and increase independent research and development of core technologies. We must formulate long-term research and development plans and invest no less than a certain percentage of the company's total revenue each year to ensure that we have independent intellectual property rights in key technology fields, break free from technological dependence on others, and lay a solid foundation for the long-term development of the family business." The son spoke in a firm tone, with perseverance and determination in his eyes, demonstrating his deep hope for the family business to be self-reliant and self-improving in science and technology.
When discussing the financial sector, his son's thinking was equally clear and meticulous. "In developing our financial business, we're proceeding according to the following steps. First, talent is key. I've already reached cooperation agreements with several headhunting firms and will spare no expense to recruit a group of professionals with extensive financial industry experience to form two core teams: a risk management team and a business development team. The risk management team will be responsible for establishing a rigorous and scientific risk assessment system, meticulously reviewing and evaluating every loan and financial investment from multiple perspectives, including credit risk, market risk, and operational risk, to ensure the stable operation of our financial business and keep risks within acceptable limits. The business development team will be responsible for actively expanding our client base, working closely with local chambers of commerce and industry associations, and participating in various financial exhibitions and business conferences. We will gain a deep understanding of business needs, tailor financial service solutions, and rapidly expand our market presence." His words were powerful, and everyone in the meeting room could sense his thoughtful consideration and determination for the financial business development plan.
"Secondly, license application and compliant operations are crucial. We must organize a professional team and make every effort to apply for various financial business licenses to ensure that our financial services subsidiaries operate legally and in compliance with regulations. At the same time, we must strengthen communication and cooperation with regulatory authorities, keep abreast of policy developments, ensure that corporate development is always consistent with regulatory requirements, and create a good external environment for the sustained and healthy development of financial business." The son emphasized the importance of compliance, knowing that in the financial field, stability and compliance are the lifeline for a company's long-term development.
“Finally, financial technology integration and innovation. Leveraging the family business’s advantages in science and technology, we can apply cutting-edge technologies such as big data, artificial intelligence, and blockchain to financial operations to improve the efficiency and quality of financial services. For example, we can accurately identify customer credit risks through big data analysis, and use blockchain technology to achieve rapid settlement and secure information sharing for cross-border trade financing, thus creating a digital financial service platform with core competitiveness.” The son’s eyes sparkled with anticipation for the future integration and development of financial technology, making everyone seem to see the family business galloping along the new track of financial technology.
The atmosphere in the meeting room reached a crescendo as his son presented his detailed and comprehensive plan. Everyone engaged in further discussion around each implementation step, refining the division of labor, clarifying deadlines, and anticipating potential problems and their corresponding responses. After hours of intense deliberation, a forward-looking and feasible business expansion plan encompassing both technology and finance gradually took shape. Each step embodied the wisdom and determination of the family business team, setting sail for the family business to reach even broader business opportunities.
The son knew that implementing this plan would be far from easy, and would inevitably be fraught with challenges. But he remained undaunted. Gazing at the high-spirited team members in the conference room, he firmly believed that as long as everyone worked together and forged ahead, the family business would expand into emerging sectors, achieve new success, and continue the family's legacy.
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