But back in 1984, it was a small factory on the verge of bankruptcy because no one wanted its poor quality products. Today Haier is a multibillion dollar conglomerate with over 30,000 employees worldwide. In the U.S., Haier brand appliances are sold in Wal-Mart, Best Buy, Home Depot, Office Depot, Target and many others. With production bases in America, Europe, Asia and Middle East, and with sales outlets in over 160 countries, Haier has become an international powerhouse that is well on its way to building a global brand.
The Haier Way traces the appliance giant's path to success, from its early bleak years when the company director had to beg from the neighboring village head for loans to pay bonuses to his employees, to the glamorous achievement when Haier ranked the fifth among the global white appliance makers in 2002. The book also examines the three strategies Haier has adopted to survive and thrive in the face of cutthroat competitions: brand name building, diversification, and globalization.
Drawing on their interviews with the company's executives and employees, the authors offer a rare glimpse of the inner workings of the company and tell incredible stories about ordinary Haier employees who went extra miles to help boost the company's image.
Much emphasis is given to Zhang Ruimin, Chairman and CEO of the Haier Group, for his pivotal role in the company's success. A legendary figure who ordered the smashing of 76 faulty refrigerators with a sledgehammer, he rules with a management style that is a blend of Jack Welch of GE and Confucius of China. The book uncovers how his vision, ambition, and determination have led Haier to create a Chinese business miracle and made himself one of the world's thirty most respected business leaders.
The first English publication ever on an individual Chinese company, The Haier Way is an insightful and stimulating reading for those who are interested in Chinese business and economy.
