BSM 600 Chapter Notes - Chapter 3: Chung Mong-Koo, Resource-Based View, Intangible Asset
28 Jan 2017
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Foundations of strategy: chapter 3 - resources and capabilities. Shifting focus from external environment to internal environment. More specifically, the resources and capabilities that firms possess = building on analysis of competitive advantage. 2009 - hyundai automotive group became the world"s 4th largest car manufacturer by sales. Managed to double its net profit and increase sales by 11% from the previous year. They"re an example of capability development over a short period of time. Recognized they need to acquire key capabilities and obtain these through series of phased developments. Each phase was characterized by clear objectives (ie. in product outcomes, tight time deadlines, precise responsibilities assigned to development teams, etc. ) 1999 - chung mong koo became chair of company, and instituted strategy of international expansion since relied to much on domestic market in south korea. And invested early on in a few overseas production facilities. Challenges: building hyundai"s production and research capabilities abroad.
