Zhang Ruimin is chairman and CEO of the Chinese white goods manufacturer, the Haier Group. Originally, in 1984, Zhang Ruimin was Director of Qingdao Refrigerator Factory. The company was making a loss. Now, Haier is a global enterprise with global turnover of 163.1b Yuan. Haier has been acknowledged as the world’s largest major appliances brand and as one of the world’s most innovative companies. No other Chinese company has received such an accolade.
Haier’s success is founded on innovative management methods which seek to combine the best Chinese thinking with the best Western practices. Haier’s change in fortunes began with Zhang Ruimin’s bold affirmation that the company would produce high quality goods rather than the lower quality ones it then made. Since then innovative team-led working and the encouragement of entrepreneurialism internally has fueled growth and recognition throughout the world.