Haier

CEO Zhang was the only winner of "Lifetime Achievement Award" "2006 China Entrepreneur Summit" was held in Peking University announcing award winners CEO Zhang was the only winner of "Lifetime Achievement Award" CEO Zhang proposed "high-profitability" as the touchstone of the globalization strategy of Haier Group On May 20, "2006 China Entrepreneur Summit" jointly organized by Contemporary Manager (CM) magazine and Peking University Market Economy Academy (PKU-MEA) was held in Peking University, under a theme of "innovation and growth-China's enterprise and leadership in globalization wave". The winners of "Lifetime Achievement Award", "Top 10 Entrepreneurs", "Top 10 Tax Payers" and "Top 10 Hidden Champions" were announced and CEO Zhang from Haier Group was the only winner of"Lifetime Achievement Award". Sina Finance reported that "as a wave, globalization is inevitably reaching every corner of the world." Led by CEO Zhang, Haier Group has started its journey of global branding by creating innovative resources, which has evoked industry-wide repercussions. As indicated in the jury's comments, "Zhang Ruimin, at the time of the stunning crush of defective refrigerators in 1985, has was destined to become an important figure in China's history of home appliance. He has brought a small-sized collective enterprise with a deficit over RMB 1 million into the 4th white goods manufacturer of the world; his management patterns, i.e. OEC, market chain, individual-goal combination, etc. have been praised by prestigious international business schools like Harvard Business School. Zhang Ruimin and his enterprise have become a benchmark for enterprises from China and even the rest of Asia. " The award given to CEO Zhang demonstrates the proactive insight of Haier Group to initiate the globalization strategy. Lately, CEO Zhang proposed a "touchstone" for determination of each department's performance in carrying out the globalization strategy, that is, the profitability of business. A high profitability is supported by continuous innovation and value creation of individual employees. The total added value roots in correct diagnostics of each S-SBU. That means the goal of Haier to become a world-class brand can be achieved only by world-class employees, i.e. S-SBUs. However, there is a noticeable gap between the reality and the dream. Therefore, CEO Zhang instructed S-SBUs to take actions to promote total added-value, and, only in this way, can Haier surf safely and successfully in the wave of globalization.