Implications of Huawei's Success Story amid Economic Crisis for Private Enterprises in Ningbo
Chai Min-bo · Journal of Ningbo University of Technology · 2010
Established in 1988,Huawei,a private enterprise,witnessed its sales revenue up to 122.7billion in 2008,up by 46% as against that in the previous year.In 2009,it continued to maintain its developmental momentum.At present,Huawei has developed itself into the fifth distributor of telecommunication equipment around the world,with many indexes ranking ahead in the same line of trade.Although there is a good momentum for Ningbo private enterprises who have taken various measures to combat the ongoing crisis,they still can't be matched with Huawei in many aspects.As the Chinese saying goes,stones from other hills may serve to the jade of this one. Huawei's successful experience can also serve to the development of many Ningbo private enterprises.The paper summarizes seven strategies adopted by Huawei to combat the financial crisis.