How This Giant Chinese Company Escaped Bankruptcy

12 Mar 2024 · 0 min

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This content was created by Eric Siu. This content was uploaded by Eric Siu. This is a YouTube video titled "How This Giant Chinese Company Escaped Bankruptcy" (published/recorded 2024-03-12). The excerpt is a spoken commentary by a single speaker describing Haier’s dramatic turnaround: poor culture and near-bankruptcy to a decentralized structure of thousands of business units (several publicly traded), focus on smart appliances (e.g., smart refrigerators), and mentioning the book The Startup Factory that documents their iterative pivots and processes.

Have you heard of Haier before? The appliances company in China? They are huge. Basically, like they're about to go bankrupt and then the culture was terrible. But now they have like 4,000 business units within the company and 3 or 4 of the business units are publicly traded companies. They build like smart refrigerators, smart appliances, and they're number one. They like were in the outhouse and now they're up in the penthouse. That guy has a book called The Startup Factory and it shows their entire process on how they went from like nothing, pivoted, pivoted again and pivoted again.