Haier

Zhang Ruimin was honored with the first "Lifetime Achievement Medal for Ch.. Qingdao Daily reported: a few days ago, reporters learnt from the organizing committee of China's management talents forum that Zhang Ruimin, CEO of Haier Group, was honored with the first "Lifetime Achievement Medal for China's Management Talents". This is his second major award on management after the being entitled as one of the "10 outstanding persons in new China's 60-year history". The Medal, representing the Lifetime Achievement Award in management, is set up to recognize the talents who has made great contribution to the management science. Zhang Ruimin has been serving as a guide of Haier for breaking the monopolistic patterns of western management theory and ideas, exploring a new business model in a systematic approach. In the era of internet, the business model, namely "individual-goal combination win-win mode" established by Haier under the guide of Zhang Ruimin has won high opinion from western academic and management societies. Marshall Meyer, professor in the world renowned Wharton School of Business, Michael E. Porter, the founding father for competition strategy, and Gary Hamel, a first-class strategy master and the author of The Future of Management, have all put a premium on the "individual-goal combination win-win mode". Moreover, the innovation of management method has brought Haier a sustainable developing state with the profit margin in the first three quarters in 2010 up 67%.