Strategic Management is defined as many acts or decisions that a manager undertakes to decide the results of the organization’s performance. Strategic Management is applicable for both small and large organizations. Strategic management emphasizes on the use of SWOT analysis – Strengths, weaknesses, opportunities and threats of the organization. The company should plan for both predictable and unfeasible contingencies. The process of strategic management is continuous as it deals with making and implementing decisions about the future direction of the organization.
Case Study for Practice:
Maruti Udyog Ltd. a subsidiary of Suzuki Motors Corporation Ltd., Japan was the first foreign car to hit the Indian roads way back in 1990. For about two dealers Maruti 800- the ‘Value for Money’ car has been a maruti leader, since then. The company has added money more models to their product range like Omni, Gypsy, Alta, WagonR, Baleno, SUV, Grand Vitara, XI7, Swift and Swift Desire to name few.
According to Maruti Udyog’s vision statement, its goal is to include maintaining leadership in the automobile industry creating customer delight, increase in shareholder’s wealth and being a PRIDE OF INDIA.
Among the development challenge need for shorter cycle time is always at the top. Management wants to be able to launch a new model faster and reduce the time required. Another challenge is co-development. Maruti works closely with its global team and suppliers on the development of new platforms and product freshening. Other challenges include streamlining the process of vehicle localization and enhancing quality and reliability. These changes directly to PLM (Product Life Cycle Management), with simultaneous process management, information management and support from Global Collaborations.
Discuss PLM Strategies for Maruti 800 to maintain market leadership – 15 marks