Questions on Emerging Chinese Multinational
Haier: An
One spring day in early 1985, anyone visiting the facilities of QingdaoEmerging Chinese MultinationalRefrigerator General Factory, a home appliance manufacturer in the northeastern Chinese city of Qingdao, would have been forgiven for thinking that company CEO Zhang Ruimin had taken leave of his senses. Just a few months after taking the helm of this virtually bankrupt company, at the age of 35, this former city official gathered all factory personnel in the factory courtyard. There, they watched a group of coworkers take sledge- hammers to implement an order from their young CEO: Destroy all refrigerators that have been found to be defective in even a minor way. Zhang had a clear message: The Company would no longer produce substandard products. Instead, a high quality of products and services would become the foundation of its global brand.1
By 2008, Zhang had turned the small loss-making refrigerator factory into a group of more than 240 subsidiaries, 30 design centers, plants, and companies, employing over 50,000 workers. Haier (as the company is known today) was the worlds fourth-largest maker of large kitchen appliances with US$16.2 billion in revenues and a 6.3 percent global share with a particularly strong position in washing machines (#2) and refrigerators (#3). The companys products were sold in 160 countries, in 12 of the 15 top European retailers, and in all of the top 10 retail chains in North America.
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Published June 18, 2021By Categorized as Assignment Questions
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