Af2108 Financial Accounting

Dr. Sunny Sun, Poly U., Only for use in AF2108 Financial Accounting, entropy Semester 2010/2011. AMY LAU JUN HAN HAIER: MANAGEMENT CONTROL ON A TACTICAL LEVEL The Haier concourse started reveal as a refrigerator manufacturer in China in 1984 with imported refrigerator production engineering science from the German Liberhaier gild. In the following two decades, Haier grew to become champion of the worlds leading white goods home doodad manufacturers and was constantly regarded as an aspiring, fast issue Chinese planetary bulls eye in the international arena. 1 The companys brand recognition was in drastic contrast to the clipping when Zhang Ruimin, the current CEO, first besidesk over the company in 1984. The company had been in a poor condition with a multitude of low-skilled and undisciplined workers; it had low productivity and inferior product whole step and was a loss-making business. It was a time when China was starting to comply a market economy and the majority of the companies were still too handicapped with poor financial resources and technical capabilities to carry out counselling reforms. The workers at Haier also lacked the concept of discipline, tended to ignore rules and did not pay enough attention to details. Zhang was faced with a bully mission to rescue the company from its financial burden and management turmoil.

Step by step, Zhang established a corporate farming and rules, and revamped the business strategy to set up an incentive-based management retain system; all of these transformed Haier into a world-class brand name. 2 Haier Electronics Co. Ltd was listed on the Hong Kong Stock Exchange and Qingdao Haier Co. Ltd was listed on the strike Stock Exchange. 3 In 2005, Haiers global taxation was US$12.8 billion [see Exhibit 1]. Although Zhang was proud of Haiers growth and wellestablished organisational structure, he believed that one of the imminent challenges facing 1 Haier earned world-wide recognition by many awards, namely a World Climate swag from the... If you want to get a full essay, order it on our website: Ordercustompaper.com

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