HKUST Hosts Haier Group CEO's First Public Lecture in Hong Kong on Self-Management Business Model

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HKUST President Prof Tony F Chan ( left) and Haier Group's Founder and Chief Executive Officer Mr Zhang Ruimin at the Distinguished Lecture. Current Students Prospective Students Faculty and Staff Alumni Media Visitors Industry Partners Job Vacancies

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19/09/2012 HKUST Hosts Haier Group CEO's First Public Lecture in Hong Kong on Self-Management Business Model

The Hong Kong University of Science and Technology (HKUST) today invited Mr Zhang Ruimin, the Founder and Chief Executive Officer of Haier Group as a keynote speaker for a Distinguished Lecture. On his first visit to Hong Kong, Mr Zhang spoke to the enthusiastic audience comprising 500 HKUST members, professionals and members of the public on the theme of 'Successful

Enterprises Move with the Times', during which he shared Haier's experience of Self-management Model and key to sustainable development.

Commonly known as the 'Godfather of Business' in China, Mr Zhang Ruimin brilliantly combines traditional Chinese philosophy with Western management in instituting an integrated framework for Haier Group, namely a Win-win Model of Individual-Goal Combination. The novel management solution also saw the paradigm shift from product to service orientation. Grouping 80,000 employees into 2,000 ZZJYTs (self-organized units), Haier has been

structurally transformed into a closed-loop network comprising multiple nodes, each represented by a ZZJYT (self-organized unit). This major structural reform not only alters the enterprise workflow and structure, but above all attaches great value to each individual. Mr Zhang thought that for Haier to thrive over 27 years and grow into what it is today as a sizeable enterprise, the key lies in putting people first. Through creating a platform that ensures equal opportunity for all, each employee is empowered to become his/her own 'CEO'.

Mr Zhang Ruimin explored the Self-management Model in Haier primarily

because Western management concept has long been an object of study for Chinese enterprises. In the age of the Internet, however, conventional management theories are no longer adequate, and that enterprises in the west have started their search for a more sustainable management model to stay ahead of the times. At this critical juncture, the Win-win Model of Individual-Goal Combination has imbued Haier with tremendous promise and creative energies. Despite the challenges faced by the industry, Haier has managed to record growth and assert its leading position during the first half of 2012, its revenue and sales growth being twice that of its peers. Mr Zhang's dogged quest for a productive management paradigm has built a distinct model tailored to the needs of Chinese companies, and helped them turn from followers to leaders in customizing their own management strategies.

Placing innovation at the heart of his management philosophy, Mr Zhang Ruimin defined a successful enterprise as one that can keep abreast of the times and its needs. Our times being ever-changing, an enterprise must constantly update itself, take innovative strides and move with the times.

Mr Zhang's groundbreaking management concept has made the subject of case studies at Harvard and INSEAD Business Schools. Prof Michael E Porter hailed Mr Zhang Ruimin as an outstanding strategic thinker and Dr Gary Hamel, another world-class authority on strategy and the author of The Future of Management, believed that Haier's advanced independent management innovation would achieve great success. Dr Geoff Colvin, Fortune's senior editor-at-large even pointed out in his article that Mr Zhang would be management's next icon.

Mr Zhang Ruimin, the Founder, Board Chairman and Chief Executive Officer of Haier Group received a master degree in Business Administration from the University of Science and Technology of China in 1995. His outstanding leadership and management practice have won him international acclaim, including being named 'Entrepreneur of the Year' by the Asia Weekly in 1997, and 'Global 30 Most Respected Entrepreneurs (26th)' by the Financial Times in 1999. In 2010 and 2011, Mr Zhang was named one of "China's Most Influential Business Leaders" by Fortune China. He was also the recipient of the 2012 Carnegie Award for Outstanding Leader.

About the Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) (www.ust.hk) is a top-ranked international research university excelling in science, technology and business as well as humanities and social science. Internationally

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renowned for its academic rigor and accomplishments, the University promotes interdisciplinary studies and provides holistic education, nurturing well-rounded graduates with a strong entrepreneurial spirit, innovative thinking and relevant skills to thrive in a knowledge economy. As an international university with strong ties to global thought leaders, HKUST has also wide-ranging connections with Mainland China while aspiring to be a global premier knowledge hub and a center of research breakthroughs. HKUST was ranked Asia's number one for the second year in a row in 2011 and 2012. It was placed third for the world's under-50 universities in 2012. The Kellogg-HKUST Executive MBA (EMBA) program, for the third year in succession, topped the Financial Times EMBA global rankings.

About Haier Group

Founded in 1984 in Qingdao, China, Haier Group has been ranked the number one major appliance brand in the world for 3 consecutive years by Euromonitor International, the global leader in consumer market strategy research. It has set up 21 industrial parks, 24 manufacturing plants, five design and R&D centers and 19 overseas trading companies with more than 80,000 employees worldwide. In 2011, Haier's global sales reached RMB 150.9 billion. It has occupied the top place on China's Most Valuable Brands List for 11 years with its brand value accounting for 962 billion in 2012. On top of that, Haier has also been included in Newsweek's top ten list of most innovative companies and made the subject of case studies at Harvard and INSEAD Business Schools, which view its extraordinary success with renewed interest.

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