Case Study Of Hyundai, S Korea Motor Company

1043 Words5 Pages
According to the World Bank, “Innovation in all its forms, in particular technological innovation, serves as a crucial driver of growth, enhancing competitiveness and increasing social well-being in all economies worldwide.
In the aim of distributing knowledge for better understanding of how different countries are applying innovation policies in different industries, this report we will go through the industrial and innovation policies and practices of Hyundai, S. Korea motor Company.
The first part of the assignment introduces a brief history of Hyundai, S. Korea Motor Company, which is mentioned for the purpose of creating a baseline of information to go along with. In the following section indicates the policies and procedures along with
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Hyundai Motor is the world’s fifth-biggest carmaker, based on annual vehicle sales, and the top automaker in South Korea. Founded in 1967, it launched the first Korean passenger car—the Hyundai Pony—in 1976. By expanding its presence in key markets like China, the carmaker sold 4.06 million vehicles in 2011. Last year, Hyundai moved ahead of Toyota and Ford in the BCG list of the world’s most innovative companies, leading the automotive companies at the #10 spot on the list. The company has steadily expanded their market share overseas, particularly in the U.S., with an emphasis on quality and after-sales…show more content…
Korea Company case study is based on the implementation innovation, which meant to improve the overall performance and operations of this automobile company in new manner of industry.
The top management at Hyundai Company has the responsibility for quality through innovation rather than the employees and it is their role to provide commitment, support, and leadership to the technical process along with human process for butter innovative environment. Whereas the innovation initiatives is to succeed, the management has to foster the participation of Hyundai, S. Korea workers in quality improvement and create quality culture by altering attitudes and perceptions towards quality in products and services.
While innovation is more technically complex and costly nowadays, many breakthrough innovations do come from individual inventors and entrepreneur in which called Creative Individual. The Hyundai, S. Korea Company is implementing New Thinking, New Possibilities, in their trip to challenge
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