BMW Group is a famous German manufacturer of automobiles and motorcycles. This corporation is famous on the international level and serves on the worldwide scale. BMW is located in Munich, Germany. It is necessary to underline that BMW Corporation offers not only classic and mighty BMW, but also convenient Mini cars and luxurious Rolls-Royce along with the diversity of high-quality motorcycles. One more significant aspect in terms of the international business performance is the announcement of BMW Group as the most reputable business on the worldwide scale by Forbes in 2012.
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Analysis of BMW Strategic Management
The mission statement of BMW Group is presented on the official web site of the company and outlines the following supreme target up to 2020: The BMW Group is the worlds leading provider of premium products and premium services for individual mobility. Hence, the global leading position of BMW Group is apparent and persuasively confirmed by numerous achievements and ramifications of the corporate performance of the premium carmaker.
It is significant to underline that the international organization of the German giant in the scope of car-making industry is sufficiently correspondent to the principles and basic rules of the local organization. Such a relevance and proper alignment confirms the consistency of the strategic approach BMW Group tends to utilize.
The international organization is primarily based on such priorities as premium quality, excellent service and leading position BMW Group displays on the global scale. The factual organization of the process of the international corporation under investigation is characterized by the significance of the impact such aspects as hierarchy and corporate culture provide upon the overall corporate performance process as well as on the final ramifications and results.
It is essential to discuss the corporate strategy and major goals the BMW Group faces in the current course of time. According to BMW Group: Sustainable Value Report, the corporate strategy Number One is vividly and significantly discussed: Growth: Our aim is to tap into existing and new business fields, to focus s on the entire value chain and in particular to grow profitably; Shaping the future: Means keeping close contact to our customers during the entire life cycle and along the entire value chain, and thus to grow profitably; Profitability: Our aim is to continuously increase the value of the BMW group in its competitive environment in the long term; Access to technologies and customers: strategic cooperation with the best partners.
It is important to present SWOT analysis in order to demonstrate the essence of the corporate performance both on the international and local levels. The outlined strengths and opportunities may be subsequently interpreted as the relevant and constructive background for competing on the worldwide level. Hence, the major strengths of the BMW Group comprise such crucial aspects as premium quality of the offered cars and motorcycles, significant brand reputation, high level of skills of the corporate employees, excellent service, environment friendly vehicles. Furthermore, such aspects as strong position and sufficient perspective in China along with CSR are also influential in terms of international performance and leading position in comparison with rival corporations. It is also important to underline the fact that BMW Group implements the most essential and topical innovations in the course of corporate performance and provides its customers with the most competitive and creative innovative decisions.
For instance, The BMW Group supports the Kyoto targets and has been working intensively for years to reduce its fleets fuel consumption. The energy strategy pursued by the BMW Group is sub-divided into three steps. In the short and medium term, the fuel consumption of vehicles will be reduced by new, highly efficient engine generations, active aerodynamics, the use of innovative lightweight materials and intelligent energy management within the vehicle.
The opportunities of BMW Group should also be taken into account. They include further expansion within the contemporary automobile market, qualitative as well as quantitative increase of the BMW portfolio, the constructive development and improvement of the existing premium brand reputation in order to motivate the current customers and to attract the new ones. Moreover, the opportunity to position BMW Group as premium and international brand with exclusive, high quality and luxurious cars should be also taken into consideration.
The aforementioned aspects of the BMW organization contribute significantly to the overall development, improvement, promotion and expansion of the brand on the local as well as on the international scale. It is also necessary to emphasize the corporate structure of BMW. The staff forms a coherent, mutually responsible and supportive team that is united by exquisite and efficient corporate culture, supreme goal and tremendous motivation. The constructive approach and democratic policy provides the sufficient and effective background for further international expansion and leverage of the existing leading position.
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Strategic Recommendations for BMW Group to Become the Market Leader in the Next 5 Years
The overall stance as well as outline of perspectives for BMW Group provides a relevant and constructive basis for further development of the leading position within the contemporary automobile market. Hence, it is appropriate to start with the introduction of alternative options for the BMW portfolio as far as it is a crucial aspect of presentation of the brand on the global scale. Furthermore, it is necessary to expand the so called area of influence for the BMW Group as far as there are many perspective countries which lack the representatives of BMW generation. Hence, it is a significant strategy not only to acquire new customers, but also to augment the current position and confirm the status of leader.
Moreover, the creative approach is also an essential aspect of the process of becoming a leader in the automobile market. The phenomenon of creative thinking appears to be one of the most competitive and perspective strategic tools. The aforementioned strategic recommendations will contribute significantly to the final outcomes of the corporate performance of BMW provided they are performed consistently, timely and relevantly.
Thus, the BMW Group is an undeniable leader in the automobile market in the current course of time. The overall structure of the corporation, the record of performance, achievements and results tend to confirm its leading status. Furthermore, the perspectives and the outline of topical and efficient strategic recommendations for the company provide a relevant background for further expansion of the brand, its qualitative development and improvement as well as preserving the leading position within the contemporary automobile market.
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