Hyundai
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Using your readings, the Library, and the Internet, and any additional resources necessary, you are being asked to complete the following sections of a Strategic Audit (See examples starting on page 78 and pages 179-185 following appendix 11.C):
Analysis of Strategic Factors. Since you are aware that your analysis of strategic factors or SFAS (Strategic Factor Analysis Summary) is based on IFAS and EFAS tables, and since we will need to understand your choices, you are required to submit the three tables in Excel format in one separate file from your written Word assignment. Non submission of an Excel file or submission of a table in a Word file will cause you to lose half of the points of this assignment. No comments are needed on the IFAS and the EFAS tables, but comments are needed on the SFAS table, which is the foundation for this assignment (You will submit one Excel file that will include three separate sheets, one for the IFAS, one for the EFAS and one for the SFAS). As a reminder, two files are to be submitted: One Excel file (counting for three pages) and one Word file (five to seven pages double-spaced). You will be graded on your knowledge of the software and math in building the MS Excel tables, and on your ability to communicate in writing and present your arguments.
Strategic Alternatives and Recommended Strategy Here you will be graded on your ability to analyze economic, socio-cultural, political-legal, technological, and financial data to justify your available strategies and the one(s) you recommend.
Implementation: Describe the implementation of the strategy(ies) you recommended.
Evaluation and Control: How do you evaluate the performance of your implemented strategy(ies)? For a sample outline of a Strategic Audit, review examples starting on page 78 and appendix 11.C.
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Hyundai is discussed very comprehensively in this explanation..
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Strategic alternatives and Recommended Strategy:
The first strategic alternative is that Hyundai Motor Company should make luxury cars and market them in developed countries. The pros of this strategy are that Hyundai Motor will position itself as a premium maker of cars. In addition, there will be higher per car margins for Hyundai Motor.
Cons are: Hyundai Motor may have limited demand for luxury cars. The reason is that there is global economic weakness and car purchases are made with cost focus as an important issue.
The second strategic alternative is that Hyundai Motor should make investments in new countries where it has lower presence and should develop those markets. The pros of this alternative are that if Hyundai Motor is able to establish itself in emerging markets, it will have loyal customers and will have a long term relationship with the customers in those areas. The cons of developing new markets is that currently because of global economic crisis newer markets have become costly to open up and have limited demand. Further, global car makers are each seeking to sell their cars in such markets. Another con is that developed countries often ship and sell used cars to these countries.
The third alternative is that Hyundai Motor should focus on small cars and cars that are hybrid or run entirely on electricity. The Pros of this strategy are that there are regulations being imposed on car emissions and people prefer to buy hybrid or electric run cars. Further, cars made by other manufacturers have received a positive response. For example, Prius made by Toyota has got a good response from consumer. The cons are: Considerable research and development expenditure is required to develop hybrid or electricity cars. In addition, as other car makers are also involved in the making of hybrid and electric cars, Hyundai Motor will not get first mover advantage.
Recommended strategy: The third strategy namely "Hyundai ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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