Lessons from China: Haier and its Importance for Global Managers

by swisscham in Hospitality, Retail, Tourism

The household appliance industry in China has been a graveyard for well-intentioned, well-endowed and well-known firms, each of which most likely fully recognized the essential benefits of the five characteristics mentioned in the report. Globalization has become an even more formidable challenge. If not well managed, competitive arenas outside one’s domestic market create significant distractions for leadership teams that have no slack for anything but executing flawlessly on their strategic visions. The company under review is Haier, now one of China’s most recognized global brands, and the products are as prosaic as washing machines and refrigerators. Yet, here is a company which was on the verge of bankruptcy in 1984. Twenty-eight years later, it has become the world’s largest home appliance manufacturer with a nearly global sales presence, and revenues of over USD 27 billion.

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