Business Strategy Case Study: Hyundai's Business Strategies
From the year 1980 to 1990 Hyundai Company had two different leaderships from Chung family, with two different business strategies, also between those years many big changes took place in the working environment of Hyundai, namely the new Labor Union, East Asian crisis and the challenges in the US market. Those are some of the factors that contributed to enhance the challenges and difficulties that Hyundai faced, but the main reasons behind those difficulties are from inside Hyundai and its internal organizational structure. In the following lines I will be talking about those difficulties and the strategies that Hyundai followed to face them. Hyundai Motor Company (HMC) is the largest Korean automobile company established in 1967, with huge manufacturing plants in Korea and abroad. It could achieve the economies of scale since its global production capacity reached 2.4 million cars per year. The difficulties faced Hyundai can be summarized in: continuous labor strikes at the main plants of Hyundai which gave the image of unreliability among the car dealers, many frequent disputes between Hyundai in Korea (HMC), Hyundai in the state (Hyundai Motor America – HMA) and Hyundai Labor Union, and most importantly Hyundai’s brand image in the market as the low quality cheap car. For any automobile …show more content…
But in recent years we can see how Hyundai came up with more innovative ideas, turned into products and services that embodied in the new models of Hyundai cars such as: the telematics system, the GPS system and other safety technological devices which made Hyundai-Kia motors the first company in Korea to offer an integrated telematics service fostering an increased enjoying experience and more
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