The Haier way

"Haier is the largest consumer appliance maker in China, regarded as the "GE of China." 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, in 2002, when Haier ranked fifth among global white-appliance makers.

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 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 the extra mile 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 him one of the world's thirty most respected business leaders.

The first English-language book ever on an individual Chinese company, The Haier Way is an insightful and stimulating read for not only those who study Chinese business and economy, but also those who are interested in China and its culture. Book jacket."--Jacket.