Yili wins the Grand Award at the 2024 Ram Charan Management Practice Awards. [Photo provided to chinadaily.com.cn]

The Harvard Business Review 2024 China Conference took place on Oct 30 in Beijing, revealing the eighth Ram Charan Management Practice Awards winners. Yili Group stood out among hundreds of competitors, winning the highest honor, the Grand Award, for its case study, Yili: Telling the Chinese Brand Story in Indonesia.

The Ram Charan Management Practice Awards, launched by the Chinese edition of Harvard Business Review and renowned management consultant Ram Charan, are among the most prestigious accolades in Chinese management. Since 2017, these awards have recognized Chinese companies with exemplary management practices, focusing on leadership, industry impact, sustainability, and innovation.

A judging panel provides comments on this year's winning cases. [Photo provided to chinadaily.com.cn]

Yili's award-winning strategy exemplifies adaptability and cultural awareness. In Indonesia, Yili localized product development to meet consumer preferences and built brand loyalty through tailored marketing. By addressing local market challenges, the company also showcased sustainable practices and social responsibility, earning respect from Indonesian consumers. "Yili's achievements in Indonesia underscore a pioneering approach for Chinese brands on the global stage," noted the award jury.

Yili's Indonesian success is part of its larger internationalization strategy, which began in 2006 and has expanded through initiatives like China's Belt and Road. In 2021, Yili established Southeast Asia's largest dairy production facility in Indonesia. Yili's products reach 60+ countries, advancing toward the company's goal of becoming a global leader in health foods.

Mr Ram Charan delivers an award speech. [Photo provided to chinadaily.com.cn]