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Automotive Industry: A Global Leading Sector

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Added on  2020-06-04

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TASK 1 (A) Audit of Auto-mobile industry As there is increase in competition in the economy and firms are mainly focused on expanding their overall business operations in the economy and this is valuable factor for them in order toachieve competitive gains at market places (Achtenhagen, Melin and Naldi, 2013). The auto-mobile industries of UK have evolved world wide and they are having diverse nature where large number of other brand firms are located here and they are also providing services to

Automotive Industry: A Global Leading Sector

   Added on 2020-06-04

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Automotive Industry: A Global Leading Sector_1
Table of ContentsINTRODUCTION ..........................................................................................................................1TASK ..............................................................................................................................................1(A) Audit of Auto-mobile industry ............................................................................................1(B) Major macro environmental factors .....................................................................................6CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11
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INTRODUCTION Automotive industry is the leading sector at global level. It plays an important role inglobal economic development due to increased costumer demands and high revenues. Thisindustry assists to foster development of economy of the nation, therefore, it is largelyrecognised as leading economic sector (Reisman and et. al., 2015). The industry consists of manycompanies that are specialized in manufacturing of car as well as marketing & distribution ofproducts related to auto mobiles. The global automotive sector incorporates various largebusiness enterprise blocs that work jointly world wide. Main aim of this report is is to administera elaborated investigation of auto mobile industry that provides a clear description of the sectorfor today and future prospects.TASK (A) Audit of Auto-mobile industry As there is increase in competition in the economy and firms are mainly focused onexpanding their overall business operations in the economy and this is valuable factor for them inorder to achieve competitive gains at market places (Achtenhagen, Melin and Naldi, 2013).There is diversity seen in UK auto-mobile industries where some of the companies have failed intheir operations and others have achieved success in their ventures. The auto-mobile industries ofUK have evolved world wide and they are having diverse nature where large number of otherbrand firms are located here and they are also providing services to customers. Apple want toexpand their operations in auto-mobile sector thus it is important factor for them in order toknow about the expectations of customers so they can easily achieve success in their operations.UK have always achieved growth by making inward investment in their projects and this is themajor reason behind their success. They are making plans in order to develop new models of carswith added features by which people can safely travel. Apple should mainly focus on their carsthat they should not emit large amount of smoke as it affects health aspects of customers and thisultimately results in enhancing their overall sales and profitability ratios.In this modern era eachbusiness organisation is focused on expanding their business activities at large scale in order toattaining more profit and revenue. Apple is a popular multinational company who deals invariety of goods and services and widely concern on satisfying the needs and wants of peoplethrough offering them goods and services as per their own choice and preferences. Apple is1
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famous for its high quality products and services as the company is mainly concern on quality ofproducts rather than its price. Expansion of business or its activities helps in generating jobopportunities for people who are having significant skills to enhance organisational performancethrough contributing their vast efforts. Apple has decide to expand their business in auto-mobilesector as in this competitive era in the sector of auto-mobile there are various opportunities areavailable for people as this sector has various department in which organisation need highlyskilled and educated people for achieving goals and objectives at work place. The major reasonbehind SWOT Analysis is related with add values to products and services which are offered byfirms. This is an important factors as it helps in attracting customers who will be buying theproducts, retaining customers for long time so they will increase profitability of firms and theservices will also be offered to their potential customers over long time durations. There can behigher return on investment generated by which firms can earn higher profitability in order toachieve growth and success in their overall business operations. SWOT analysis is moreeffective in conducting an effective industrial analysis as it mainly consist on four major aspectssuch as strength, weaknesses, opportunities and treats, these all are evaluated as under: Strength:The strong factors of auto-mobile industry are evaluated below as: Evolving industry: The auto-mobile industries in the economy are the representation ofeconomic growth and freedom. These sectors are valuable for persons by which peoplecan easily travel from one location to another (Ball and et. al., 2012). Each trips whichare executed by auto-mobile sector are having some economic advantages and they arealso providing quality aspects to different factors of life. This industry is having themajor strength as it is growing at every stage in order to provide services to theircustomers.Advanced technology: As there is advancement in technologies so firms can easilyexpand their products lines by making innovation in their products and services which areoffered to customers. There are new features added like CNG gas kits and alternativefuels in order to reduce cost. The major focus of auto mobile industry is linked withresearch and development expenditure so they can achieve growth in next and upcomingphases of industries by using various renewable sources of energy and these can be in theform of wind or solar energy.2
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