Haier made a profit of around 15 billion yuan in 2014. On 4th March, Haier purchased the iconic former Greenwich Bank Building, located in midtown New York as its headquarter in North America. Top overseas scholars and research institutes became Haier followers instead of Haier sceptics . As the only IoT ecosystem brand on the list, Haier's global ranking rose by 21 compared to last year, marking a significant improvement in brand value and a leading role in ecosystem branding. As a result, the organizational structure of Haier evolved from an inverted pyramid with zi zhu jing ying ti (ZZJYTs, self-management teams) as the basic unit to a flat management structure which later evolved into a grid organization with microenterprises as the basic unit. It's the one of the first overseas industrial parks built by China. Haier's internationalization strategy started with making a firm stance in the markets of developed countries which have the strictest entry standards and continued the momentum to that of developing countries. They wanted to start refrigerators in China that are of high quality which were not being offered in Chinese markets by any existing players. A win-win evolution means Haier evolves with users, which is an important feature of blockchain – decentralized automated user trust. Upholding the vision of “creating new engines to growth in the era of IoT with Rendanheyi Model”, Haier is committed to working with its world-class ecosystem partners to continuously build scenario brand and ecosystem brand, and to set up IoT ecosystems in clothing, food, accommodation, travel, health, elderly care, biomedicine and education, and to tailor personalized smart life for users around the globe. Haier offers services for over 1 billion families in 160 countries or regions around the world. Influenced by such a corporate culture, each employee enriched these values with their own practice and experience. By 2005, in terms of industrial layout, Haier has achieved a comprehensive industrial structure that covers all aspects of home life, including home appliances, furniture and home decoration; in terms of market layout, Haier has established its presence around the globe through glocalization. After that, the “Branding Building Strategy” was implemented. Haier Spirit is not only the shared vision of Haier entrepreneurs but also an answer to the call of the times. That period of time was defined as the age of “Haier – Made in the World’. By purchasing Meneghetti’s manufacturing unit in Italy, Haier had made its way into European market. The news that Haier issued Exclusive Agency Certificates to foreign retailers was a sign that Chinese products has entered the world stage and Haier has been recognized in the international market. Zhou Yunjie, then-director of Second Affiliated Factory to the Qingdao Refrigerator Factory and the incumbent president of Haier Group, wrote an inspiring article to encourage innovation among employees. Haier, which is based in Qingdao, China, is the world's leading appliance manufacturer, but the company only holds 1.1 percent of the US appliance market … To date, Haier has successfully incubated four listed companies (Haier Smart Home, Haier Electronics, Haier Biomedical, INKON Life), five unicorn companies and 23 gazelle companies. Self-powering/organizing microenterprises with self-entrepreneurship constitute a basic unit in the creation of user values. For external analysis, China experienced growing economic development from late 1980s, which means demand outstripped supply in home appliance industry. An analysis of the historical background: The development of the first generation of the Haier Spirit was closely related to the distinct characteristics of the times. On 9th December, Haier and Alibaba announced a strategic partnership, aimed at combing Haier's strength in supply chain management, logistics & warehousing, delivery and installation service, and Alibaba's advantage in the e-commerce ecosystem. DO NOT BUY HAIER PRODUCTS: UTTER CHEAP CHINESE RUBBISH. And zero-distance, decentralization, and distributed system will continue to play a bigger role in the economic development. In November 2003, the company was bought from Weetabix Limited, by the American private equity firm HM Capital of Dallas. The new Haier Spirit was a complete iteration compared with the previous one. With not so much information that can be gleamed online, we do hope that the company does decide to bring back its smart mobile division back. Per Fische was impressed by the stable and efficient working pace made possible by Zhang Ruimin. Haier grew in China in coming years and had expanded its business empire by procuring Red Star, its main rival in electrical appliances manufacture. Zhang Ruimin and other entrepreneurs have earnestly practiced the spirit of “Selfless Devotion, Nonstop Excellency” in a “Fast Response, Quick Action” style. Partnering with the German company Liebherr, it started producing refrigerators. In the era of Internet of Everything, the top priority is business integrity. Each enterprise must transform itself from a self-contained organization to an open ecosystem which requires higher level of honesty and integrity. The company also conducts sports events, charity programs in regular basis. [citation needed] From 29 January 2004, it was owned by Lion Capital LLP, [citation needed] until 3 May 2012 when the Chinese company Bright Food bought a 60% controlling stake, valuing the company at £1.2bn ($1.9bn). (Haier's chairman agrees--of course- … The door seal team of the second affiliated factory was upgraded from the first Inspection-free Team to the first Self-management Team. Haier corporate culture is guided and developed by innovative strategy efficient organization creative technology and market orientation enabled Haier to grow swiftly with business expansion from China to outside world Haier corporate culture features recognition and participation of all employees Haier has had all its employees involved in realizing Haiers ideal to be a global recognizable brand In some sense, users are also creators. 7000 units were sold out in only seven hours. Without the support of capital, technology and talents, Zhang Ruimin and other founders devoted themselves fully to the transformation of the factory and seized the opportunities brought by the Reform and Opening-Up. After decentralization, users can choose to trust the enterprise in order to achieve a win-win evolution. While Haier sells more home appliances than any other manufacturer in the world, it’s still a relative unknown in the U.S. Many enterprises have realized the importance of platforms but what impedes the transformation is the organization itself. In contrast with other contemporary enterprises, Haier has, from the very beginning, developed a customer-oriented corporate strategy and culture, which is the focal point of organizational excellency. This Chinese brand is known in the market for the production of home appliances and also for their consumer electronics. From 27th January to 1st February, Zhang Ruimin was invited to 30th World Economic Forum and delivered a keynote speech My Opinions on the New Economy, introducing the idea “No Internet, No Future”. In July, Haier turned the loss-making Red Star Electric Appliance Co., around in only three months. The acquisition of GE home appliance business, a representative enterprise of US industry, has trained the spotlight on Haier in the management world. Haier, together with the Shandong Pavilion, the America Pavilion, the Italy Pavilion, the New Zealand Pavilion and the Shimao Pavilion, brought the culture and philosophy of innovation to the World Expo. Against the new backdrop, Haier Spirit and Haier Style serve as the guidelines for Haier's transition from a follower in the age of traditional industry to a leader in the age of IoT. Part of the fund raised from the listing were distributed to the construction of Haier Industrial Park. Among the 13 gold and silver medalist companies, Haier was the youngest one with only four years' experience since Zhang assumed the post. It is a useful tool that is widely used for strategic planning and management in many organizations. Former West Germany ambassador to China Mr. Mr. Zhang Ruimin, Chairman of the Board and CEO of Haier Group, systematically illustrated the Rendanheyi Model in September 2005, whose contemporary features, universality and social characteristics have achieved trans-industry and trans-culture fusion and replication. Together, both parties committed to building a new, comprehensive system and standards, covering the transportation, delivery and installation of home appliances and large items. It is the world’s first definite proposal on building an ecosystem brand in the age of the IoT. It has funded over 186 schools till date. Globally it was acknowledged soon after it started producing full-sized refrigerators for North American market, competing directly with Whirlpool and Frigidaire. Founded as a refrigerator manufacturing unit, Haier has now expanded its range to the production of digital products, bio-pharmaceuticals, logistics and … On 21st, December, Ministry of Finance and Ministry of Commerce launched the Home Appliances for the Rural Areas program in Yantai City. Besides, China entered the WTO in 2001. Purchased refrigerator in 2017 and now in December 2019 it's digital display is not working and company says you have to replace whole door , this is very ridiculous Don't ever purchase Haier products and their service charge also very high . Moreover, Haier has established 10+N open innovation systems, 25 industrial parks, 122 manufacturing centers, 108 marketing centers and 143,330 sales networks globally. The future is here. The aim of Haier's global branding strategy was to seize the opportunities amid the internet era when different countries were woven into the same web and a globalized Haier flourished in all parts of the world. It … MANAGING PERFORMANCE AT HAIER (A) Group E2 Problem Statement How to improve Haier’s performance management system and make it adaptable or applicable in other regions of the world? The company made an intensive capital allocation in order to upgrade its products so they can be competitive in the US. Fortune cited Zhang for “his radical management innovations…very rare in western countries and even ground-breaking in China.”. In many of Haier’s target markets, the company deliberately leaves out mention that it is a Chinese company in advertising and product brochures as they feel it would be detrimental to the brand if consumers associated the Haier name with China. Rendanheyi, Microenterprises for Exponential Growth. Haier was the first Chinese enterprise to set up an advertising sign in Ginza, Tokyo, Japan. Traditional manufacturing industry will be the next to undergo these changes. In this context, in order to increase the morale of employees and aim higher, Haier made a minor change to Haier Spirit from “Selfless Devotion” to “Patriotic Dedication". But future organizations will not be hierarchical and closed enterprises but self-organizations. Haier was the first Chinese enterprise to be included in the Harvard Business School Case Library. Looking closely, the root cause of the stagnation lies with the separation between production and sales. KEEP AWAY It is under such harsh conditions that Haier Ren (people) embarked on the journey of entrepreneurship. Once again, Haier takes the lead in transforming enterprise into an entrepreneurial platform and employees into entrepreneurs. Throughout the whole process, all decisions made, including management, research & development and operations, were centered around the development of China. Focusing on user experience and keeping abreast of the times, Haier has experienced six strategic stages: brand building strategy, diversification strategy, internationalization strategy, global branding strategy, networking strategy and ecosystem brand strategy, growing from the once collectively owned small factory on the verge of bankruptcy into an ecosystem that leads the IoT era. Project Hope is an initiative of the group to provide education to the deprived and the underprivileged children. In the process of sustainable innovation and entrepreneurship, Haier always upholds the principle of “prioritizing people's value”. This Chinese brand is known in the market for the production of home appliances and also for their consumer electronics. The Haier users stood 36.85 million in 2014, according to the company report. The company also spends time for ecological concerns and is very much enthusiastic in planting trees and promoting ‘green’ ideas. “Haier is a Chinese company with a global presence and has always practiced corporate citizenship. An analysis of the historical background: Haier kept expanding its business domain in the first three development stages. Haier Taking a Chinese company global Essay Sample. Haier Case Study. Information Technology in the company is mainly used to develop LCD TV, Plasma TV, etc. Focus on the following - Zero down on the central problem and two to five related problems in the case study. There are may refrigerator in market who gives 5 years warranty but Haier gives only 1 year warranty On 30th April, Haier built the Haier American Factory in South Carolina, USA, a major step for its internationalization strategy. The Qindao-Liebherr 4-Star BCD-212L Side-by-Side refrigerator won the first National Quality Product Award Gold Medal in China's refrigerator industry. Globally Haier ranked 3rd in whites goods revenues and was the 2nd largest refrigerator manufacturer in Chinese market. The company also established plants in Asian and African countries. During that historical period, two major changes were transforming the world economy – one was China's admission to WTO, the other the rise of data-driven economy in the wake of internet technological development and applications. Haier also received the world's first BrandZ IoT Ecosystem Brand Award, showing its leading role in global brand evolution. The Pakistan Haier-Ruba Economic Zone jointly constructed by Haier and Pakistan Ruba Group was officially opened. Case Overview • Haier Group is a multinational company specializing in the production of home appliances and consumer electronics. This will be my LAST. It's also among the first China Overseas Economic Zones initiated by the Ministry of Commerce of the People's Republic of China. Environmental Analysis (PESTC) Political: In 2006 company exported to 160 countries valuing to $ 1.7 billion, however they have not established their manufacturing base outside the China. It was thus imperative that Haier people attract new customers and take over markets by way of resource creation. Throughout the history of the World Expo, Haier is the first enterprise to sponsor multiple pavilions via global subsidiary companies. Honesty and integrity will no doubt be the core competency of the next era. It was the loan that Zhang secured from the rural production brigade that helped the whole factory survive another year. Haier: Taking a Chinese Company Global Aiming to be the number one producer of white goals, Haier developed the marketing expansion strategy as called “three thirds”. Haier, as an IoT Ecosystem Brand, was included in the rankings. Internally, Haier highlights “quality products made by quality people” and “every employee can be a talent; every employee can race to the number one position”, which have activated the potential of employees to the maximum. Haier has topped Global Major Appliances Brand Rankings by Euromonitor International for 11 consecutive years. An analysis of the historical background: The previous period can be called the age of internet. Company Overview Established at Qingdao, China in 1984, Haier Group is a world-leading provider of solutions to better life. Haier Group is equally enthusiastic in the field of social works. Today, Haier designs and produces a large variety of home appliances including television sets, washing machines, air conditioners, computers, refrigerators and mobile phones. Haier is not yet a term for many Germans. The expected revenue from the market was designed to be derived from three categories: one-third produced and sold in China, one-third produced in China and sold overseas, and the rest one-third produced and sold overseas. The strategy also aims to build domestic brands that are recognized by respective mainstream markets. Assignment 7: Haier: Taking a Chinese Company Global * Solution 1: * * Established in 1984 by taking over a failing refrigerator company, Haier has come a long way in becoming the largest appliance company in China. After the settlement, GE home appliance business was officially included as part of Qingdao Haier. Haier started with nothing, grew from a small factory to a large enterprise and expanded from China to the world markets. The company has its headquarters at Qingdao, Shandong territory in China. On the day the Beijing Olympic Games opened, Haier launched One Gold Medal, One Hope School project. On 25th March, Zhang Ruimin was invited to Harvard and gave a speech about “Haier's Success with Stunned Fish”. Traditional empires are collapsing to make room for ecosystems. 4. On 28th July, Haier acquired the home appliance business of Japan SANYO Electric Co., Ltd in Japan, Indonesia, Malaysia, Philippine, and Vietnam. It reported 2014 revenue of $32.6 billion. Externally, Haier puts emphasis on“the customer is always right”and "customers' problems are the targets of our innovation”. It was the first time a Chinese white goods brand was recognized as the world's number one. Only when stakeholders uphold honesty and integrity can the open resources of the ecosystem be utilized to co-create and win together. On 12th August, Beijing Organizing Committee for the Olympic Games made an official announcement at Qingdao Olympic Sailing Center: Haier became the White Goods Sponsor of the 2008 Beijing Olympic Games. Its new species COSMOPlat industrial Internet platform leads the top ten trans-industry and -field industrial Internet platforms of the Ministry of Industry and Information Technology and named a leader in Forrester's Industrial IoT Platform and designated by the three international standard organizations, including ISO, IEEE and IEC to lead the drafting of international standards for mass customization models...In the era of IoT, Haier’s ecosystem brand is leading the world. On 20th March, Fortune published the list of The World's 50 Greatest Business Leaders, with Zhang Ruimin ranking 22nd. To raise employees' awareness of quality, Zhang invited employees to join him in smashing 76 defective refrigerators with sledgehammers, sending a strong message of “Make Quality Products, Compete for Gold Medals”. On December 26, 2004, Haier Group, ranked China’s number-one company by the Asian Wall Street Journal,3 celebrated its 20th anniversary with annual sales topping RMB 100 billion.a (See Exhibit 1 for Haier revenue growth.) Starting with a defunct refrigerator factory in Qingdao, Rendanheyi is a business model that adapts to the future. On 11th June, BRANDZ™ published the Top 100 Most Valuable Global Brand 2019 in New York. The fourth generation features an upgrade from a co-sharing platform to a win-win evolution and from Microenterprises for Exponential Growth to EMC Contract. While many factories reduced prices to increase the sales, Haier, with its renowned brand and reputation for high quality, raised the price by 12% and still attracted a lot of customers. At this historical moment, Haier is faced with a bottleneck: It has been 17 years since the introduction of IoT. Accordingly, Haier Style also went through an upgrade. Honesty has become ever more important in the fast development of traditional e-commerce. Per Fischer made a special trip from Beijing to Qingdao and visited Qingdao Refrigerator Factory. Enterprise is also a kind of organization. Haier is a multinational company, based in China. On 26th December 2005, on the 21st anniversary of the establishment of Haier Group, Haier announced the fourth development strategy – Global Branding Stage which differs from the previous three stages and features a transition from “the internationalization of Haier” to “the globalized Haier”. At the same time, a world-class management model was developed in the U.S. with reinforced customer satisfaction, innovation and business excellency as the core. On 10th March, at the Appliance & Electronics World Expo, Haier released 7 Smart Ecosystems, published the practice of Industry 4.0 Strategy, and launched an online user interactive customization platform and a resource platform for module makers. At the ceremony for observing the 35th anniversary of Haier Group and publishing the strategic themes of the sixth development stage and the fourth-generation enterprise culture dated December 26, 2019, Zhang announced the beginning of the sixth strategic development stage - Ecosystem Brand Stage with two other co-founders: Yang Mianmian, former Vice Chairman of the Board and President, and Wu Kesong, former Vice Chairmen of the Board. Desktop internet has removed the hurdles of information asymmetry; mobile internet has increased the speed of information transmission. In 1997, Haier, as China's number one home appliance brand, entered its internationalization stage. Although white goods, flat screens and smartphones of the Chinese company are already to find everywhere in the commerce. Decades later in 1984, Qindao Refrigerator Co. was established. A factory for the manufacturing of refrigerators came into being in 1920 at Qindao. 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