If someone handed you a sledgehammer and told you to start smashing your company’s products, would you do it? That’s exactly what Haier CEO Zhang Ruimin did to prove a point to his employees. That was the first in a long line of radical decisions that have transformed the company from a fledgling refrigerator maker to the world’s number one appliance manufacturer – and kept it there.
A hundred years before Uber popularized the “platform business,” an English teacher and a porcelain merchant were launching their own platform business in Canton, China, called Li & Fung. In 1906, Li To-ming and Fung Pak-liu started a trading company, exporting porcelain, fireworks, jade and silk. They eventually set up headquarters in Hong Kong.