The Haier Group Essay Example | Topics and Well Written Essays - 750 words

The Haier Group - Essay ExampleAs part of their business expansion and diversification, Haier has recently started to produce goods such as refrigerators, freezers, air conditioners, microwaves, televisions, vacuums, cell phones, computers etc (Hunt). On February 23, 2004, Haier Group, a major home electrical appliance maker in China, was listed as the only Chinese name leaf blade among the worlds 100 most recognizable brands in a global name brand list edited by World Brand Laboratory(Lu et al, p.1) Even though Haier has acquired a significant place in global market, it is not going to be easy for them to maintain their place, unless they find raw ways to improve their business. According to Fortune magazine, Haiers net profit for the six months ending June 2002, declined by 45% and its sales declined by 3.7% during the same period (Haier Groups Strategy in the US Market). This paper proposes three divergent ways through which Haier could improve its business strategies and main tain their supremacy in global market. Haier has to improve its external human resource fill inment strategies since it operates in different countries at present. It should be noted that Haier is a club of Chinese origin and the HRM strategies in China and other countries could be entirely different because of the huge political, cultural, neighborly legal and environmental differences between China and other countries.... Chinese government never allows the free arise of information to and from China which is definitely causing problems to Haier. Moreover, credit card forgeries and other internet related crimes argon growing day by day and Haier needs to strengthen their internet platforms to enhance communication and honest online purchasing of its products. Even though Haier products are cheaper compared to other similar products, Chinese products normally have a bad reputation as far as quality is concerned. Some analysts felt that Haier lacked the brand contrive to make a dent in the high-end segment. They pointed out that in general consumers were brand-conscious, and this was especially true in the case of high-end products (Haier Groups Strategy in the US Market). Haier should give more focus to improve the quality of its products. Haier should make water that the consumer electronic markets of mobile phones, computers etc are not like the markets of home appliances like refrigerators, microwave ovens or looker washers. Apple, Samsung, Nokia, IBM, Microsoft, etc are some of the renowned consumer electronics brands which are competing with Haier products. It is not easy for Haier to beat them unless they improve the quality of their products drastically. It should be noted that technological advancements are necessary even for selling kitchen appliances now. Competitors are introducing new products and ways to manage kitchen. For example, Samsung had introduced the Home PAD Refrigerator, which detected the shelf life of food and automatically d isplayed a list of items stored in the fridge on the door. Portable entertainment devices were the new trend in consumer