Environment analysis of an Industry Assignment
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Added on 2021-02-21
Environment analysis of an Industry Assignment
Added on 2021-02-21
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Environment analysis of anIndustry
Table of ContentsINTRODUCTION...........................................................................................................................11. Major forces shaping the business environment of car manufacturing industry....................12. New and emerging business opportunities that production and marketing of electric carsmay present to Entrepreneurs and Business executives..............................................................4CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8
INTRODUCTIONChange is the only constant. The statement holds true for itself because every business operatesin a dynamic environment where it faces competition. In order to overcome its competition, itneeds to upgrade. An up gradation can be in any way. It can be up gradation of technology,business policies, strategies etc. Till today, many businesses feel reluctant to change. This isbecause they have become so used to the old methods of production that they resist change. Abetter and enhanced technology not only improves the productivity but also minimizes the costincurred. Volvo is a Swedish multinational automotive company, it was founded in 1927 byAssar Gabrielsson and Gustav Larson but as of today its owned by Geely Holding group ofChina. The company is headquartered in Gothenburg, Sweden and is famous all around the globefor manufacturing Trucks, Buses and Cars. As of 2017, it had around 38000 employees and thetotal production output was around 5,70,000 vehicles. The company went public in the year 1935and was listed in Stockholm stock exchange. It is one of the largest and the most valuablecompanies in Sweden. The current assignment will focus on Volvo company's businessenvironment, changing technology and its business strategies.1. Major forces shaping the business environment of car manufacturing industry.The car manufacturing industry has gone through major changes and evolution in the past 3years. The industry witnessed changes in technology. Exterior, engine and features. The carshave become more responsive, smart and internet friendly. A person can lock and unlock his carwith the help of his smartphone. The engines have become more powerful with automatictransmission but the major evolution that changed the automotive industry forever was theintroduction of electric cars. Electric cars are the need of the moment and there is no doubt aboutthat. The increasing emission and pollution from diesel\ petrol cars has impacted theenvironment in drastic manner. Therefore, many automotive companies like Tesla and Volvo areswitching towards manufacturing of electric cars. Volvo company, in order to meet its customerneeds and wants, will start manufacturing electrical combustion engine instead of internalcombustion engine. The CEO and President, Hakan Samuelsson stated that the company hasalways given priority to their customers needs and wants and now they wish to have electricalcars then they want to design electrical cars for them. The CEO also stated that it will be the1
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