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Strategy and Strategic Dilemmas
- 11 страниц
- 2015 год
- 80 просмотров
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Гарантия сервиса Автор24
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INTRODUCTION
Changes in the modern world continue at a rapid pace. In many countries, individual mobility remains a focus of political regulation and national industrial policy. The shift in society requires new mobility solutions. Volatility has long become a constant in everyday business. Markets and consumers alike remain uneasy in these periods of economic uncertainty. To meet these challenges BMW has created its own strategy analyzing and taking into account all the marketing mistakes of the past, internal analysis of the company, market competition, globalization, urbanization, politics, regulation and even environmental problems.
Having analyzed company’s weaknesses and strengths, brand image, product innovation, suppliers, employee productivity, research and development capabilities, cost structure, the history of its strategy formation and its final result, it can be said that nowadays the BMW Group is the only manufacturer of automobiles and motorcycles worldwide that concentrates entirely on premium standards and outstanding quality for all its brands and across all relevant segments.
BMW is a European company which has managed to carve out an enviable niche market for itself in the premium segment of automobile industry through technological innovation. The company has had to manage a companion challenge to its success in the market. This challenge is that of evolving and applying a corporate strategy that facilitates its advancement as a global corporation. BMW has evolved a corporate strategy that reflects its global interests. This global strategy BMW has described as “globalization”, where the aim is to find right combination of global networking and local policy.
CONTENTS
INTRODUCTION 3
CREATING A WORLD- FAMOUS BRAND 4
STRATEGY FORMATION 5
MODERN STRATEGY 6
CONCLUSION 10
REFERENCES 11
CONCLUSION
The BMW Group company follows Strategy Number ONE, which aligns with two targets: to be profitable and to enhance long-term value in times of change. And this applies to technological, structural as well as cultural aspects of the company. Since 2007 BMW has been implementing various initiatives in keeping with the strategy’s four pillars: Growth, Shaping the Future, Profitability and Access to Technologies and Customers.
Key success factors of BMW group are long term planning, ecological and social sustainability, research and development investment, global positioning in established markets and innovation. Values of the company are high quality standards, customer focus, continuous improvement and sustainability.
All strategic objectives of BMW are derived from the Corporate Strategy Number ONE: generate growth (new target groups, new products and services), technologies/customers (pioneering technologies and design, visionary services, new sales concepts), and shaping the future (differentiation from competition, future proof product portfolio, sharpen BMW image as sustainable and innovative brand).
The work of the company is firmly focused on the premium segments of the international automobile markets. The goal up to the year 2020 is clearly defined: the BMW Group is the world’s leading provider of premium products and premium services for individual mobility.
REFERENCES
De Wit, Bob and Meyer, Ron (2010). Strategy: Synthesis, Cengage.
Cullen, John B., Parboteeah, K. Praveen (2012). Multinational Management.
JacobNina (2010).Intercultural Management.
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