These systems were very successful regarding the Chinese culture of management but since the company wants to increase its global installed base there is a question on how it is going to achieve it by following the same human resource management practices.
These are the following: increase of employee internal competition by implementing an internal ranking of employees. Employees are judged by all performance dimensions and they have to complete their tasks the same day and have continuous self-assessments. Each employee is almost an independent profit center so entrepreneurship is developed. Managers are also continuously appraised like employees and both are given chances to improve their performance by providing abundant training. A talent pool inside the company is also created.
Haier has followed a product diversification strategy i.e. it has expanded to 86 different product categories. It is doubtful if Haier can pursue the same following strategy since product expansion requires heavy investment.
Then a second part of its strategy was product innovation to niche markets i.e. developing products for specific market segments. Under careful consideration this is a strategy that can be pursued at the current moment.
Globalization which is the third component of the strategy is expanding to other countries in all aspects i.e. production, alliances etc. Globalization can also be limited for the time being since it requires heavy financial investment when it comes to building new factory sites that can be quite risky at this period of time. Globalization demands also understanding foreign cultures so it requires further research on this issue.
The fourth component was marketing initiatives that emphasized product quality and market research. Sending a message of quality is a right strategy when an organization wants to establish a successful brand name but there is a question on how Haier in the current economic crisis can keep on holding high product prices.
The last component of Haier's strategy is the innovative human resource management practices. This has been proved successful for Chinese standards but there is a question on how these strategies are going to be successful in other countries and cultures.
2) Possible Solutions.
A solution cannot be suggested without taking into consideration the global macroeconomic environment. In this case there is a global economic crisis the duration of which cannot be predicted. The global crisis has affected investments, consumers' purchasing power, belief in the stock exchange and the banks, banks provide loans to businesses by following very strict lending criteria and as a result of the above businesses limit their expansion plans, their profit margins are reduced and in many occasions they fire people. The consumers on the other side are in a psychological "trap", they feel insecure about their future therefore they reduce and change their consumption habits. They have become more conservative.
Taking all the above mentioned into consideration, Haier has to limit its product diversification since it requires heavy investment in production and marketing and sales. The product innovation to niche markets requires usually an investment in R&D. Haier has to study carefully all its R&D expenses and do a very
As it appears from the case Haier has had a very successful performance so far and it was due to its unique performance management system that successfully moved from a socialist enterprise to a multinational. It is ranked as the world's sixth largest market of large kitchen appliances…
The report has been designed to analyze the best strategies that can be implemented in order to refine the HR functions for the International Committee of Red Cross in order to meet the international standards of HR practice. ICRC is a global non-profit organization working for the revival of humanity from both natural and human made catastrophes.
Dissatisfaction among the workforce and creeping frustrations can mount to glaring problems of low productivity and performance in the organization. This can subsequently end up with attritions or high employee turnovers. Cut throat competition and rivalry plays a pivotal role in robbing talents from one organization and placing them in another.
The way to attract the right staff is to tell the truth (Pickard, 2001). The research centres on presenting the negative aspects of the job responsibilities. To increase the job applicant database, the negative or warts-and-all hiring policy must be included during the second phase of the recruitment process, the interview phase.
This is because China has the largest number of people in the world. Their number stands to over two billion people. From this paper, where are going to learn on the dynamics of the Chinese market. This paper seeks to analyze the problems that Dairy Queen faces in its attempt to position itself into the Chinese market, and the attitude and behaviors of its customers.
According to the research findings, it can, therefore, be said that after the economic downturn is ceasing, many small businesses are now witnessing an increase in their revenues. However, they have a dilemma, which is deciding between using these extra revenues to expand the business and increasing their employee’s salaries.
The project tries to the explore the existing condition of the company Howard Transport which was established long back and has been taken forward by the subsequent generations. The company was established through the initiative of Steve, who was a worker in a factory and had been seriously injured while at work which no longer allowed him to continue working
In the organizational diagnosis of Steinway, an organization involved in the manufacture and supply of pianos, the business environment has been by carrying out a SWOT analysis. Moreover, the diagnosis has assessed impacts of change of technology to ensure the
Another course of concern for job board source is that out of 300 applicants only 20 are being short listed. That must be a real pain stacking and time consuming process. This really needs to be taken care of. Here, it should be mentioned that bit more information
On the other hand the external factors that are facing the university and impacting negatively on its performance are the union unrest and stoppages, economic down turn, completion from the other universities and the legal predicaments raised concerning the foreign
ty is also likely to improve the company’s financial image and therefore stock prices and these identify increased worth of investments or profits should an investor trade in his or her stock. The benefit is likely to be short term as pressure is likely to overwhelm
1 pages (250 words)Case Study
Hire a pro to write a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Apply my DISCOUNT
Got a tricky question? Receive an answer from students like you!Try us!
Let us find you an essay for FREE
Contact us via Live Chat, call us at +16312120006or send an email to firstname.lastname@example.org