Haier

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25 April 2013

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1. Haier Is Higher.............................................................................................................................................. 1

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Haier Is Higher

Author: Lin, Thomas W Publication info: Strategic Finance 91. 6 (Dec 2009): 41-49. ProQuest document link Abstract: China-based Haier provided more than 60,000 refrigerators, air conditioners, washing machines, and water heaters for the 2008 Summer Olympics in Beijing. This type of success was out of reach in 1984 because the company was nearly bankrupt. But Haier's restructuring effort has taken it from a nearly bankrupt refrigerator factory in Qingdao to a company with global sales of US$17.71 billion in 2008. From 2001 to 2004, Haier reduced its production cycle by 70% and its production cost by 40%. At the same time, Haier increased its customer satisfaction rate by 60% and its quality level by 40%. Today, Haier Group is recognized as a worldclass brand. Haier began to implement the market-chain-based business process reengineering system in late 1998. According to CEO Zhang Ruimin, a market chain is a series of business process activities to make products or render services to satisfy customers' needs. Haier is the first Chinese collective enterprise that has sales of $16.2 billion with its own established brand. Links: Check SFX for Availability Full text: Headnote A Chinese Company's Roadmap to Success via Its Reengineering System This article is based on a study supported by IMA's Foundation for Applied Research (FAR). China-based Haier provided more than 60,000 refrigerators, air conditioners, washing machines, and water...