The Biggest Management Challenge in the Automotive Industry

Management Challenge in the Automotive Industry The biggest management gainsay facing todays automobile industry is the eonian pressure of insane asylum and tough competition in the market. from each one leading manufacturers ar worried that without putting emphasis on innovation their company might not retain or regain market sh ar and profitability during this tough frugal times (Barnet, 2008). Innovation as defined by Wikipedia, the unembellished encyclopedia (2010), is a change in the thought touch for doing something, or the useful application of new inventions or discoveries. In the auto industry we create innovation by redefining alert products and market segments, create new ones, and attack competitors strongholds, those products with which a manufacturer captures a signifi pilet portion of the market (Howell, 2000). Today, car manufacturers are always making improvements and new development in schematic engine technologist. For example, plug-in hybrid electric and battery electric vehicles are now available in different models, and their range bequeath be extended. Soon recharging facilities will be available and standardized. most cars running on alternative, low emission fuels like ethyl alcohol or gas are already available on the market.

Other technologist like smart navigation, adaptive sail control, highly energy-efficient LED lights, and storage and re-use of heat will advance improve fuel efficiency and lower CO2 emissions ( applied science and Innovation: The Industrys Stronghold, 2009). The intent of innovation work on is to ensure that a steady stream of product and engine room options is developed on the basis of the companys esthesis of where the market is headed. These options are potential responses that the auto industry can use to capitalize quickly on new opportunities. The sour is designed to be dynamic, with new information and ideas moving continuously through the system. Each time the company goes through an innovation cycle, we gain... If you want to get a full essay, order it on our website: Ordercustompaper.com

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