30.08.2019-124 views -Strategic Audit of Hyundai
Tactical Audit of Hyundai Motor unit Company
Hyundai Motor Firm
Hyundai Kia Automotive Group can be described as parent organization of Hyundai Motor Firm (HMC). In Korean, Hyundai means modernity. Hyundai is a largest car maker in South Korea after had taken control of Kia and placed world 5th largest automaker in terms of revenue. Hyundai's eye-sight is to give value for the future of clients. In addition , all their mission is usually to provide superb automotive benefit for customers by the combination of security, quality, effectiveness, stability and security. However, Hyundai is involved about environmental problems that happen to be increasing at present (Hyundai Motor unit Company, 2008)
International strategic management process within the global environment consists of various elements however there are five parts which viewed as most important components while foreign business is performing, which can be home country, provider country, client country, spouse country and competitor country. Through Superstar Analysis, there are few important useful tactical recommendations. This overcomes it is demand and provide limitations by utilising the effectiveness of company's country through international transactions. In addition , it appoints appropriate distributor countries that matched with all the firm's approach. In order to increase net earnings from trading, targeting on the right customer countries is very important. Besides, supporting of demand-side and supply-side are provided by the right lovers. Lastly, this hopes that competitors will be well-performed inside their home, supplier, customer, and partner nation locations (LEE, 2005).
SWOT Analysis is an effective approach to identifying interior Strengths and Weaknesses as well as for examining the external Options and Dangers facing Hyundai. SWOT of Hyundai
Brand name recognition
High quality of cars
Diversity of products, companies and management style
Exposure of weakening globe economy
Low cost labor in Asian markets
Tough for new opponents to enter the marketplace
Low bargaining power of suppliers
No true substitute for vehicles
Baby boomers, the profitable sectors
Constant technological innovations
Suppliers integrating vertically to provide manufacturers with all the auto parts, thus raising their power Increased competition among existing firms
Enhancements made on consumer requirements
Hyundai has obtained a brand identity that is known and offered worldwide. They have also set up a status for creating high quality vehicles. Diversity offers enabled Daimler motor company and Hyundai to share details with one another that may strengthen their very own business. With innovative products they have become one of the most effective and respected firms in the world. Hyundai is the planet's third major car manufacturer, a global company with solid brand profile available to different customer sections. The company's items range from business sedans to heavy pickup trucks to fund services providing cover from individual industry risk.
Accord, one of the group's strongest brands, enjoys if you are a00 of customer loyalty. The Accord and Smart brands performed very well during a challenging economy in 2008, operating profits increased by 38% (Hitt ou al, 2009). Size is a significant strength as it enables them to buy in bulk, therefore reducing costs and achieving competitive advantage and it is able to exercise control over suppliers.
The chinese language barrier between the Germans and Americans can cause the company to have problems communicating on how the business enterprise should be managed. Hyundai group performance has been disappointing over the last few years. Hyundai face solid competition in all its business sectors. Globally, Standard Motors and Ford provide the biggest concern to the...
Referrals: Hyundai Electric motor Company (2008) [online]
LEE, H. (2005) Strategic Units and Trade Dispute in Automobile Sector. From the Point of view of the Romance between government and industries in Korea and japan
Jeremy Weber (2008), Toyota and Honda start tests vehicle-to-vehicle communications systems [online].
Chosun Ilbo (2005), Hyundai to Acquire LS Group and LG Chem in Hybrids
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