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A market analysis of various players in the industry has also been carried out.
The global automobile industry is one of the leading industries in the world today. This industry has its roots in Europe and the USA where it started in the late second half of the 19th century. It started expanding to the rest of the world in the early 20th century. Let us write or edit the essay on your topic "Strategic Management (H)" with a personal 20% discount.. Try it now The global automobile car manufacturing industry deals with the assembly of passenger cars, Sports Utility Vehicles, vans and some light duty motor vehicles (Sturgeon, Biesebroeck and Gereffi, 2008).
The world-wide car manufacturing industry is run mostly by large multi-national corporations that also engage in the production of other types of automobiles and automotive parts. The industry market has an oligopolistic structure, which is controlled by the big market players in the industry. The best investment in this industry can be done in an untapped market since getting into established markets is quit hard (PWC, 2009).
At present, the critical success factors include: quality, image, cost control, meeting energy standards. A lot of attention is being paid to the quality of the different brands of cars being manufactured for specific markets. Competition arising from a high level of mergers in the industry is pushing manufacturers to enhance their image through production of quality cars. Cost control is also a major critical success factor as manufacturers look for ways to counter financial constraints caused by the global economic crisis. Many of these companies have developed cost-effective production of high quality cars. The high cost of fuel and other environmental factors have also led to manufacturers producing cars that meet the highest standards as pertaining to energy consumption (Ralf, 2001).
The future critical success factors are likely to be pegged on the manufacturers’ image through brand management. Aspects of image such as design, service strategies, brand experience as well
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Identity is the personality of the organization, which is established by the communications of the organization to various audiences and is imprinted in the vision, mission, values and objectives of the organization. When successful communication is present between the organization and its various audiences, the likelihood of image of the organization and identity of the organization merging is high (Dolphin, 2000).
The process of strategic management is complex and can be accomplished by those conversant with the internal aspects of the organization, and those who can provide information and make a prediction for the decisions made. Those involved in strategic management are responsible for the welfare of the company.
Social Media vehicles are contributing enormously to national income of the countries around the world. Mergers and acquisitions going on in the social media industry is indeed a hot topic of discussion. Social communities like Facebook have billion of users, but they cannot offer a better platform for photo sharing, so acquiring Instagram was the decision taken to eliminate this drawback.
The current business and economic environment is volatile. Resources are less and pressure is high. Resources have become more concentrated and management across firms are trying to find ways through which they can exploit the resources and capabilities to its best.
Thompson (2005 np) this attributes to the application of strategies that establish clear guidelines towards gaining a strong and competitive market position. Burton and White (2010 np) reiterate on the position that H&M’s position in the market is a combination of various factors that come together to facilitate the company’s position a pace setter in the clothing industry.
r changing surroundings, managers need to constantly analyse and decide on the actions that would increase the efficiency of a firm’s operations and enable it to survive the competition. This is where strategic management play a vital role in the organisation’s survival. The
Its aim is to achieve advantage by configuring the organization’s resources within constantly changing surroundings in order to fulfil shareholders’ expectations and meet the demands of the market (Puffer, 2004:55). Strategy, otherwise
Scholes, K., and Whittington, R., 2010, Exploring Corporate Strategy, Text and Cases, Prentice Hall, p.17).
There is no guarantee that a given strategy will be implemented effectively despite ensuring that there is proper planning policy. Less than half of the