Title: “How to be number one in facing future challenges in automobile industry.”
The automobile industry has witnessed several records broken within the recent years, while growth has been recorded in equal measure. Sales and production levels in china are always on the increase, while strong recovery and strengthening of financial basis in the United States is encouraging. Yes, we are all looking forward to the expected changes and shift in the industry as the future unfolds. I honestly pat attention to the emerging trends.
Look over and review industry top players’ websites, brochures, and flyers. Visit their WebPages. Pay closer attention to the embrace and challenges that lie ahead in facing problems within the automotive industry. On innovation, staying ahead of competition and unpredictable market forces require absolute measures to ensure increased productivity without losing on capital gains from the traditional setting.
The most concerned stakeholders in this regard are the automotive manufacturers and suppliers as they face the increasing complexity contained in the increased numbers of products, technology cycles that are shorter, increasing pressure leveled on innovation and demands, as well as the global supply networks (Norcliffe, 2006).
Apart from increasing growth witnessed in the automobile industry, serious challenges face all the key sector players as concerns output, productivity and enabled gains from all the proceeds. There are demographic changes and global shifts in economic powers. They have a direct influence on massive upheavals realized through demand. The constant changes of consumer expectations are being witnessed on a regular basis. New technologies have changed vehicles in a dramatic way while issues like connected cars, enhanced driver support and abject fuel efficiency have proven to be game-changers in the industry (Maxton and Wormald, 2004). Apart from balancing the needs of customers, investors, public, non-governmental organizations and regulators, radical changes have to be taken into account. The expected results have to be produced through efficiency in competition, flexibility, and mandatory decisiveness.
Need/ Problem Step:
So without further detail on the changing complexities in the market, it is with attention that I would like to highlight the main areas of interest t hat can benefit you as an interested party while enhancing the same on others with your help. The four main points to address from the radical changes experienced know your markets, building the brand, adapting production strategies and taking long-term views. Important decisions have to be made from the coherent strategies and goal definitions in order to stay ahead of the pack.
Summary of Main Points:
Main Point 1: The industry players have to know their markets.
Different markets posses differentiated variations of the expectations by consumers. Automotive executive and leaders of the industry should enable attention of market dynamics in order to place their companies to take advantage of them (Wells, 2013). Understanding the different market requirements places the authority on a better level of preparedness and strategizing for changes as time shifts the market dynamics.
Main Point 2: Build the brand.
Purchases of the automotive products are through a rational and emotional decision by the consumer. The need for the executives to enhance particular brands for segmented consumers creates a closer relationship and improved contact. Thus, subsequent changes will have a positive impact as the brands resonate with the consumers’ needs and requirements. In addition, emotional marketing can help.
Main point 3: Adapt production strategies.
Transformations in automotive industry should be kept on a constant basis, despite the level of the industrial player. Regional footprints of the traditional markets within the global sense have to be changed substantially from time to time. The process will require flexibility and proper networking. The industrial players have to be able to cope with the complexity involved within the markets. Direct and indirect costs have to be factored in without noting any potential benefits, harm, and opportunities (Ambe, 2010). In this way, better decisions will be used by the executives to prepare for future changes. Without proper prior investigation and analysis, the adapted strategies can fail in the real time basis.
Main point 4: Take a long-term view
Increased pressure from consumers and regulators forces automakers into improvement of product performances. In the building of sustainable businesses, such changes have to be affected within the scope of operations in order to face future approaches. The economic and social factors have to be included as they are important. Transparency is required in the network supply while the impact of better products will have an influence e on economy, society and the environment.
In order for challenges in the automotive industry to be solved through preparedness and strategies, a focus on the market dynamics is necessary. In addition, the preparation for future challenges and growth demands from consumers and regulators have to be top priority for any industry player (Sutherland, 2004). Therefore, all of you interested in marketing, availing of automotive products, ensuring growth is realized, knowing of the markets, building the brand, adapting production strategies, and taking long-term views should not be compromised.
The demand for newer technologies and improved products within the automotive industry is at an all-time high despite the growth and improvement in the markets. Several companies, manufacturers, and suppliers are facing tough decisions concerning the operations with a keen look towards the future. On innovation, staying ahead of competition and unpredictable market forces require absolute measures to ensure increased productivity without losing on capital gains from the traditional setting.
Ambe, I. (2010). Competitive Advantage to Automotive Industry Players. AJMB Academic Journals, 2, 1-11.
Maxton, G. P., & Wormald, J. (2004). Time for a model change: Re-engineering the global automotive industry. Cambridge, U.K: Cambridge University Press.
Norcliffe, M. (2006). The automotive industry in emerging markets: China’s automotive industry. London: GMB.
Sutherland, J. (2007). A Global Perspective on the environmental challenges in the automotive Industry. MTU Journals, 3, 2, 1-7.
Wells, P. (2013). Sustainable Models and the Automotive Industry. IIMB Management Review Journals, 25, 4, 228-239.
Top-quality papers guaranteed
100% original papers
We sell only unique pieces of writing completed according to your demands.
We use security encryption to keep your personal data protected.
We can give your money back if something goes wrong with your order.
Enjoy the free features we offer to everyone
Get a free title page formatted according to the specifics of your particular style.
Request us to use APA, MLA, Harvard, Chicago, or any other style for your essay.
Don’t pay extra for a list of references that perfectly fits your academic needs.
24/7 support assistance
Ask us a question anytime you need to—we don’t charge extra for supporting you!
Calculate how much your essay costs
What we are popular for
- English 101
- Business Studies