Haier Group Essay

1577 Words7 Pages
Company Overview Haier Group was founded in Qingdao, China in 1984 under the leadership of Mr. ZHANG Ruimin. Haier is the world’s 4th largest white goods manufacturer and one of China’s Top 100 IT Companies. The Business Scope of Haier is technology research, product development and manufacturing, trade and financial services. The key products are refrigerators, commercial air-conditioners, microwave ovens, washing machines, dishwashers, televisions, mobile phones, and computers, etc. Haier has 240 subsidiary companies and 30 design centers, plants and trade companies and more than 50,000 employees throughout the world. Haier specializes in technology research, manufacturing industry, trading and financial services. Strategy Development Haier evolved from almost bankruptcy to becoming a globally recognized brand in less than two decades. The company’s development could be divided into four stages: brand building, diversifying, internationalization and global branding. Brand Building Phase (1984-1991) Features: Focusing on refrigerator, Haier explored and gathered experience in corporate management to lay a solid foundation for its later expansion. A localizable mode of management was established. Diversification Development Phase (1991-1998) Features: Haier moved from a single-product company to a manufacturer with multiple product lines and expanded its brand to include both brown goods as well as white goods. Internally, the company restructured operations to maximize latent corporate potential, using intangible assets to get the most out of existing tangible assets. By doing so, Haier was able to quickly grow the scope of its business while enhancing the company's overall strength and position. Internationalization Phase (1998-2005) To become a national brand is not enough, the superiority won't last long. Features: Products are sold in great

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