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» Marketing Case Studies Please note: This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source. |
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Introduction Contd...
Background NoteHaier was formerly known as Qingdao Refrigerator Factory (Quingdao General), a Collective Enterprise (CE)7 manufacturing refrigerators for sale in China. During the early 1980s, the company had no funds to invest in new product development or to pay employee salaries and was on the verge of bankruptcy with debts of more than US$10 million.
I figured I couldn't raise the entire worth of China, but I could raise the worth of this company."8 Under Zhang's leadership, the company broke even within a year. In 1989, Qingdao General changed its name to Qindao Refrigerator Company Limited... 7] Collective Enterprises were formed by groups of skilled laborers or small entrepreneurs who wanted to commercialize their skills. These enterprises grew in the aftermath of economic reforms in the early 1980s and they began playing a pivotal role in China's significant economic growth in the 1980s and early 1990s. |
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