Fuyao was Selected the BCG’s 2018 Global Challengers 100
The Boston Consulting Group (BCG) released its 2018 Global Challengers Report in Beijing on August 8, and Fuyao Group has been on the list for years since 2014.
Founded in 1963, the Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. It has the published Global Challengers Report series since 2006, listing the 100 fast-growing and rapid-globalizing companies from emerging markets that are leapfrogging competitors by using digital technologies. The Global Challengers are chosen using a combination of quantitative and qualitative criteria. Companies must have annual revenue of at least $1 billion, 1,000 or more employees, and growth rates that outpace their home-market GDP or industry average. EBIT(Earnings before Interest and Tax) margins must equal or surpass the industry average. Companies must also have a strong international presence of 10% or more in international sales or $500 million or more in international M&A(Mergers and Acquisitions) as well as credible aspirations to build a truly global footprint.
A driving force of digital revolution
Global challengers use new technologies, such as Industry 4.0 and Service 4.0, to improve productivity and optimize their core business. They focus on digital customer journeys, and the opportunity to intensify and personalize engagement of customers, and build long-term customer relationships. They pursue business model innovation, and enter completely new digital businesses, developing new models that disrupt existing value pools. They embed digital enabling functions, such as analytics and centers of excellence into their organizations. This is one reason why over the long-term our global challengers have outperformed their global peers on revenue growth across multiple industries and on the all-important metric of total shareholder return.
In fact, almost 60% of the companies on the 2018 list are either digital natives (that is, those that were born as digital companies) or significant digital adopters (those that used digital technologies as an integral part of their business models)—up from only 17 percent in 2012. When these companies expand their home bases, they often use digital tools and know-how to make the leap.
In 2014, Fuyao Group has put forward two important strategies of “Intelligent manufacturing, leading the technology”, that is by constructing digital transmission channels among Operations, Management and Manufacturing through continuous integration of automation and informatization to achieve an overall digital company with the features of “Product Customization, Manufacturing Automation, and Intelligent Operations”. Over the past four years, Fuyao Group has been focusing on Lean Management and Intelligent Manufacturing, all while being committed to building a client-centered business operating system, creating an intelligent ecosystem and enabling collaborative design and customized mass production to provide customers with optimized automotive glass product solutions. The implementation of Fuyao digital intelligent plant project is not only beneficial to promote the company product upgrades, enrich the product structure, increase its market competitiveness and create higher profit, but also plays an active role to the development of the industry in many ways, such as setting industry standard, influencing the upstream and downstream of the industrial chain, contributing to localization of intelligent manufacturing core equipment, cultivating talents, etc.
“Global digitalization will continue at an accelerating pace, and emerging markets will remain a driving force behind the digital revolution, contributing to both important technology advancements and the disruption caused by new approaches and business models.” These companies are leveraging digital technologies both to set new standards for innovation and to compete globally with multinational companies (MNCs), and are “changing the world.”