Managing Performance at Haier Company - Essay Example

The administration has adopted amicable strategies that ensure the maintenance of the existing strengths while addressing the weaknesses (Bhasin, 2011). This section focuses on the institution’s SWOT analysis as presented below.

The institution’s key strengths

• Superior market share
• Adoption of innovative human resource management (HRM) practices and appraisal
• Reliability and efficiency in service delivery
• Acceptance of its high-end commodities by consumers
• Good market share in western India
• Well built presence in the home appliances segment
• Effective product distribution network
• Superior product diversification
• Superior storage facility of Haier’s products that ensure a constant supply

The institution’s weakness

• The company has a weak distribution network in central India
• The company has an inferior service agent network
• Poor logistical measures that are evident with the accumulation of trade stocks
• Inferior prediction of high sales seasons in major market segments

Opportunities

• Existence of untapped market opportunities especially in Northeast India
• New technological development, for example, mobiles and cellular phones that offer lucrative opportunities for business growth
• Increased the demand for electronic products that are set to grow by 14%
• Small appliance market set to grow
• Increased disposable income levels of consumers

Threats

• Medical Freezers are not selling
• The product portfolio is weak
• Overall, inferior distribution network compared to rivals
• Only chosen merchandise is selling from the entire Product Portfolio

Proper identification of the company’s SWOT capacity is critical in formulating growth policies. It enables managers to identify available strengths and opportunities that should be upheld to advance performance (Bhasin, 2011). Consequently, it facilitates the identification of weaknesses and threats that may hinder the production of superior commodities. It is imperative for administrators to perform a comprehensive evaluation of operations in Heir Corporation based on SWOT guidelines to enable the establishment of growth-oriented business policies.

Performance management human resource (PMHR)

Haier, which is an electronic-producing institution in china, has an outstanding human resource management history. The company practices conventional human administration principles that borrow its ideals from the integrated Japanese supervision philosophy, US innovation guidelines, and aspects of traditional Chinese culture. The policies are set with an aim of building cohesive working relations and teamwork, which are crucial for institutional advancement. Indeed, Haier Company has adopted noble performance management human resource (PMHR) policies that steer its growth. It sets the policies to boost interaction levels, worker recognition, morale advancement, and employee empowerment. The critical issues that foster PMHR that the institution tackles includes

• Innovative human resource management practices and appraisal

Haier in its human resource management guideline adopts motivational practices that facilitate employee satisfaction and improve performance. The company remunerates its employees well with job security that boosts performance (Donna, 2010). Consequently, it practices transparency, fairness, and justice without sheer discrimination. These aspects remain major human capital administration issues that influence performance if not addressed amicably.

• Globalization

Going global is a performance and human resource practice that expands an institution's network and employees' scope of a deployment. Globalization signifies the growth that most employees normally anticipate. Employees are motivated by the growth prospects of institutions since it guarantees their job stability and advancement. Haier Company has advanced its service portfolio and international networks with a strong focus on human resource development.

• Marketing initiatives that emphasize product quality and market research

Haier Company has differentiated its commodities to facilitate stakeholder satisfaction. It practices noble marketing procedures that include favorable pricing that has enhanced the company’s competitiveness (Donna, 2010). Clearly, it applies superior marketing strategies to build coherent relations between employees from various departments and consumers.

• Product innovation to create niche markets and development of talents

Increased product innovation has provided the employees of Haier Corporation with the ideal opportunity to participate in the formulation of product advancement strategy. This is achieved through superior interaction and openness of the administrators that encourage their participation (Donna, 2010). Human resource capital feels recognized and important when involved in the institution's innovation processes.

• Dramatic elimination of tolerable and emerging dissatisfies to employees

Haier's seeks to treat its customers and employees in an exclusive manner compared to its rivals. The management places more importance on considering the needs of its customers and employees with an aim of addressing pertinent issues that may compromise quality.

• Product diversification

Haier’s evolved from one refrigerator model to different product categories.