Despite a two-month long total lockdown, China has avoided an economic meltdown. Professor Mark Greeven, a China expert, is not surprised.
In this webinar, Mark Greeven, Professor of Innovation and Strategy, IMD, has gathered best practices from four Chinese companies from different industries and discusses how they can be adopted by companies in the rest of the world. With stories highlighting the COVID-19 responses of automobile manufacturer BYD, film producer Huanxi Media, retail fashion company Peacebird and insurance company Ping An, he provides examples that other companies can draw upon during this challenging time.
Tackling concerns including supply chains, remote work, leadership and employee safety, Greeven provides four key lessons learned: use proper leadership techniques; challenge the assumptions of the business model; fully commit to any changes and trust employees; and think like an ecosystem, rather than just a business.
At the end of the webinar, Greeven provides a surprise for the audience—a selection of four tips and takeaways for other companies that can be implemented in just 48 hours.
Case study: The CEO suffered a breakdown. Now what?
Summary
Alex Reinhardt was brought in to turn around a renewable-energy company that had been on the verge of bankruptcy until the German government bailed it out. After he fainted from overwork and burnout and had to take a medical leave, the board appoi...
Contact
Research Information & Knowledge Hub for additional information on IMD publications
The strategic imperative
Summary
In a world where change is the only constant, the strategic imperative for sustainability is not just a theoretical construct – it’s a call to action. This section of the book delves into the core strategies that will enable businesses to thrive i...
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Framing the conversation
Summary
In late 2020, as the world began to emerge from the worst
of the COVID-19 pandemic, Wärtsilä, a Finnish corporation
specializing in power systems, made a bold decision.
Despite being a well-established company with a strong
track record in...
Contact
Research Information & Knowledge Hub for additional information on IMD publications
NTT at a crossroads (A): Quest for growth
Summary
NTT Corporation, Japan’s information and communication technologies (ICT) leader since 1953, was the first to commercialize internet usage on mobile phones in the 1990s, which resulted in NTT achieving much success in Japan. However, by the end of the 2000s, Japan faced challenges with an aging population and a stagnant economy. Recognizing disruption in the ICT sector, CEO Satoshi Miura understood the need for the dominant players in the ICT industry to integrate emerging business domains beyond their existing frameworks. To secure leading global positions in ICT and the new paradigm of cloud computing, Miura needed to make strategic choices to revive growth. Case A provides information on NTT, its rivals, the global market and cloud computing disruptions. The case ends with NTT’s CEO exploring strategic growth options to prepare NTT for the future.
Reference
IMD-7-2351
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Nippon Telegraph and Telephone
Industry
Services, Telecommunications;Information Technology
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
NTT at a crossroads (B): Mapping growth options
Summary
Building on NTT (A), the case starts with NTT’s CEO having narrowed down strategic growth options with the board to prepare NTT for the future. Past international investments in AT&T Wireless and KPN to tap into foreign markets had resulted in billion $ write offs and stopped international acquisitions. However, after reviewing the disruptive changes facing the ICT industry and considering the shareholders’ views, CEO Miura committed to internationalization. The B case details NTT’s growth strategy focused on internationalization, while considering the need for new capabilities and technologies. It provides more insights into NTT, its opportunities and the Japanese experience with M&As and ends with Miura’s determination to quickly grow through international expansion to prepare NTT for the future.
Reference
IMD-7-2352
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Nippon Telegraph and Telephone
Industry
Services, Telecommunications;Information Technology
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Lessons from leadership by an Olympic Finalist
Summary
When I was eight years old, I watched the Mexico Olympics on television and thought ‘I want to do that.’ It took eight years and an incredible amount of work, including extraordinary highs and lows, to achieve that goal.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Is sustainability a luxury for listed companies?
Summary
Companies seek to move stock exchange listings to avoid ESG responsibilities.
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Overcoming adversity through innovation – Daikin at 100 (A): Leadership lessons
Summary
This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircraft components. However, the company pivoted towards refrigeration technology in response to emerging market demands, notably during Japan’s post-World War II economic boom. By leveraging R&D in fluorocarbons and innovative cooling technologies, Daikin established itself as a leader in the air conditioning sector. The case highlights key leadership eras, notably the transformative periods under Noriyuki Inoue. Under Inoue’s stewardship, the company emphasized execution capabilities, prioritizing operational excellence alongside technological advancement. His leadership drove Daikin’s globalization strategy, enabling the company to become the second-largest fluorocarbon producer globally and the foremost player in the air conditioning market. As Daikin approaches its 100th anniversary, it faces contemporary challenges such as climate change and increasing consumer demands for energy-efficient products. The company’s commitment to innovation remains pivotal as it seeks to balance profitability with environmental responsibility. This case prompts discussion on Daikin’s strategic responses to evolving market conditions and the importance of leadership in sustaining growth.
Reference
IMD-7-2618
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Daikin Industries
Industry
Consumer Goods, Home Appliances
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Overcoming adversity through innovation – Daikin at 100 (B): Sustainability lessons
Summary
This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircraft components. However, the company pivoted towards refrigeration technology in response to emerging market demands, notably during Japan’s post-World War II economic boom. By leveraging R&D in fluorocarbons and innovative cooling technologies, Daikin established itself as a leader in the air conditioning sector. The case highlights key leadership eras, notably the transformative periods under Noriyuki Inoue. Under Inoue’s stewardship, the company emphasized execution capabilities, prioritizing operational excellence alongside technological advancement. His leadership drove Daikin’s globalization strategy, enabling the company to become the second-largest fluorocarbon producer globally and the foremost player in the air conditioning market. As Daikin approaches its 100th anniversary, it faces contemporary challenges such as climate change and increasing consumer demands for energy-efficient products. The company’s commitment to innovation remains pivotal as it seeks to balance profitability with environmental responsibility. This case prompts discussion on Daikin’s strategic responses to evolving market conditions and the importance of leadership in sustaining growth.
Reference
IMD-7-2619
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Daikin Industries
Industry
Consumer Goods, Home Appliances
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications
Overcoming adversity through innovation – Daikin at 100 (C): China market lessons
Summary
Daikin’s success in the Chinese air conditioning market serves as a compelling case study in strategic adaptation and collaboration. Following its entry into the market in the 1990s, Daikin faced formidable competition from well-established domestic brands like Gree and Midea. Despite the initial challenges of breaking through in a fragmented and competitive landscape, Daikin’s innovative inverter technology became a distinguishing feature of its product offerings. The watershed moment in Daikin’s trajectory occurred in 2008 when it formed a strategic partnership with Gree, China’s largest air conditioner manufacturer. This collaboration enabled Daikin to tap into Gree’s expansive distribution network and manufacturing expertise, significantly enhancing its own market reach. The partnership proved mutually beneficial; Gree capitalized on Daikin’s advanced inverter technology while Daikin secured a foothold in a market driven by increasing consumer demand for energy-efficient solutions. By 2012, inverter air conditioners claimed over 60% of the Chinese market share, a figure that surged to over 90% by 2024, illustrating the success of their joint efforts. Furthermore, Daikin’s commitment to sustainability was manifested in its pioneering use of HFC-32 refrigerant, known for its low global warming potential. By openly licensing HFC-32 patents globally, Daikin not only positioned itself as an environmental leader but also fostered industry-wide innovation. This case highlights the critical importance of strategic partnerships and innovation in overcoming competitive challenges and underscores Daikin’s role as a transformative force in the global air conditioning market.
Reference
IMD-7-2620
Copyright
©2024
Copyright owner
IMD Copyright
Organization
Daikin Industries
Industry
Consumer Goods, Home Appliances
Available Languages
English
Contact
Research Information & Knowledge Hub for additional information on IMD publications