In the 1980s the name of the great management thinker, Peter Drucker, was unknown in China. However, a 30-year-old director accidentally got his hands on a book written by Drucker. He treasured it. From a dilapidated factory in the Shandong Peninsula, he pondered how an enterprise which was unable to pay its wages could get out of trouble. The director was called Zhang Ruimin. The small factory which was unable to pay its wages was called the Qingdao Daily Appliance Plant, later renamed the Qingdao Refrigerator Plant, which grew to become Haier, the world’s biggest white goods . . .
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