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A cover story entitled The New Masters of Management was carried in the special issue of The Economist on the 16th week of 2010, in which the innovation of emerging markets, including the innovation of Haier on market and management, was introduced.
In another article in the special issue entitled “Easy to Say, But Hard to Do: Elusive Customers at Emerging Market”, there was such description that, “The most difficult thing is to “play piano” at emerging market: serve both low-level and high-level people. It is proved that, Haier is good at market segmentation. When Haier found farmers wash potatoes with washing machine, it designs a washing machine that is specially used for rural areas. And it designs a mini washing machine for the young people living in small apartments of cities.”
When mentioning management innovation, there is such description in the special issue that, the world economic center has shifted to emerging markets and the emerging markets are no longer satisfied with low cost but try to restructure business mode. “Among developing countries, Infosys and Haier are successful enterprises.” (Editor’s notes: Infosys is the second largest software company in India and an information and technology service provider in the world.)
Started in 1843, The Economist is circulated globally with the view of “launching a fight between the wisdom promoting progress and timidity and ignorance hindering our progress”.
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