Myths and Realities of Innovative China: The Case of Haier Company

It is well recognized phenomenon that innovations are a strategic weapon for economic growth and have played an important role in industrialization process of developing countries. Because of the conventional thought that China produces sub-standard goods; the term innovative China sounds like a myth. In reality China has made tremendous progress in producing innovated goods. To support this view, in this paper, we have thoroughly discussed the case of Haier Company. Haier is one of the very successful stories of Chinese companies which absorbed the foreign technology and climbed up the technological ladder. This case of Haier supports our notion of innovation philosophy behind success of world renown Chinese companies.