附录B 外文原文
Financial Strategy Based on Harvard Analytical Framework - a Case Study of Haier
Abstract- Nowadays, smart home and IoT have been the trend of the home appliance industry. Taking Haier, the representative of Chinese household appliance enterprises, as an example, this paper USES the Harvard Analysis Framework to interpret the companys financial statements in recent years through accounting analysis. Finally, explain the reason for the change of the companys name and put forward optimization suggestions combined with the prospect.
1.INTRODUCTION
The Harvard analytical framework originated in the United States. It is a financial analytical framework proposed by three Harvard scholars. The framework includes four parts: strategic analysis, accounting analysis, financial analysis and prospect analysis. It fully pays attention to the influencing factors behind the financial statement data, and better analyzes the operating status of the enterprise, so as to provide information support for decision-making. With the advent of 5G era, the Internet of things is driving the accelerated development of all interactive interfaces and intelligent terminals, and more and more traditional home appliance enterprises are transforming into smart homes. Haier group was founded in 1984 in Qingdao, Shandong Province, and listed on the Shanghai stock exchange in 1993. It has been ranked the worlds top household appliance brand by euro monitor international for 11 consecutive years. However, on June 5, 2019, Haier group said that in order to better reflect the companys global development and promote the implementation of the companys IoT smart family ecological brand strategy, the full name of the company was changed from 'Qingdao Haier Co., LTD' to 'Haier Zhijia Co., LTD'. The companys stock abbreviation also changed from “Qingdao Haier” to “Haier Zhijia” (600690) on July 1, 2019.This indicates that Haier complies with the consumer trend and is marching into the field of intelligent family. This paper will introduce the Harvard Analysis Framework, start from the financial statements of Haier Zhijia from 2016 to 2018, analyze financia data, and provide some suggestions for the future development of the enterprise.
2.STRATEGIC ANALYSIS
Strategic analysis is the foundation of Harvard Analytical Framework. It analyzes the overall development strategy of an enterprise through the macro industry background and the micro strategic positioning of the enterprise.
- Industry Analysis
In recent years, Chinas household appliances market tends to saturation, product homogeneity is serious, home point industry A - share capital market in the long - term low hovering. Among them, high-end consumption is rising rapidly. The growth rate of high-priced products in offline channels is consistently higher than that of low-priced products, and the industry share continues to concentrate on leading brands with higher prices. In recent years, air conditioners, refrigerators, washing machines and water heaters have shown an obvious high-end consumption trend. In recent years, Chinas household appliances market tends to saturation, product homogeneity is serious, home point industry A - share capital market in the long- term low hovering. Among them, high-end consumption is developing rapidly. The growth rate of medium-high price products is consistently better than that of low-price products, and the industry share continues to concentrate on leading brands with higher prices. In recent years, air conditioners, refrigerators, washing machines and water heaters have shown an obvious high-end consumption trend. Although the economic development continues to push up the income level and the cost- effective consumption demand expands, considering the increase of urban living costs, the budget constraints faced by price-sensitive groups are still strong. It can be said that due to the development of technical level, the current whole household appliance industry is in the stage of industrial transformation. The home appliance enterprise already from the item product, the channel, the marketing and so on ability competition, turns the multi-dimensional comprehensive strength competition. Accordingly, home appliance enterprise adjusts strategy in succession, a lot of enterprises also changed his company name, extend to more domains.
- Strategic Positioning
Since its establishment in 1984, Haier Group has gone through five stages: the stage of brand strategy development, the stage of diversification strategy development, the stage of internationalization strategy development, the stage of global brand strategy development, and the stage of network strategy development. In December 2019, Haier Group entered the sixth stage of network strategic development, aiming to create a leading eco-brand of Internet of things. Firstly, based enterprise in the Internet era. On February 27, 2018, Haier announced at the conference that it had become the first national industrial Internet demonstration platform in China, promoting the terminal implementation of '5 7 N' all-scene smart family solution. Secondly, continue to explore the win-win model of 'integration of people and orders'. 'People' mean employees, and 'orders' mean the market target. This slogan means to let employees create value for users while reflecting their own value. Moreover, the realization product transfers from the low end to the high end. Haiers research and development and investment in the field of smart home has also been leading the industry, which shows that Haier is increasing the construction of high-end brand, hoping to occupy the high-end market. Finally, implement network strategy. With the personalized needs of users as the center, the enterprise will be tr
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