Branding and Sustainability for Automotive
Added on 2020-05-16
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Running head: SUSTAINABLE BUSINESS PRACTICES AND STRATEGIESSustainable business practices and strategiesName of the studentName of the universityAuthor Note:
2SUSTAINABLE BUSINESS PRACTICES AND STRATEGIESTable of ContentsPart 1................................................................................................................................................31.1 Recommendations and its Impact..............................................................................................31.2 SMART Framework..................................................................................................................4Part 2................................................................................................................................................62.1 Metrics for each Recommendation............................................................................................62.2 Explanation why the proposed Metrics are important...............................................................72.3 Identification of the data that will be needed.............................................................................82.4 Process by which data should be collected................................................................................82.5 Potential Challenges that will be faced by the organization......................................................9References......................................................................................................................................10
3SUSTAINABLE BUSINESS PRACTICES AND STRATEGIESPart 11.1 Recommendations and its ImpactKIA Motors is the second largest manufacturer of automobiles in South Korea and has anannual sales figure of nearly 3.3 million cars. The shareholders of the company along with theemployees of the organization participates in the decision making process of the company whichhelps them to achieve success in the market (Bendle et al. 2016). However like most of thecompanies KIA Motors also faces a number of adversities that affect the operationalperformance or tends to decrease their performance over the time-being. In this following reporta number of recommendations have been provided to help the company overcome the issues andincrease their percentage of success. The first and foremost issue is the inconsistent and abrupt payment of wages to theemployees by the management of the organization. The low payment of wages does not help thecause of the employees and makes them de-motivated. The management of the organization hasalso failed to formulate a proper reward system for the employees. Reward system helps theemployees to be recognized and makes them more dedicated towards their work. This is in sharpcontrast to the policy followed in Trader Joe’s which is one of the largest supermarkets of USA.Their main policy is to make sure that the employees are paid much more than their expectationsfrom other rivals in the market (Giles, 2014). The employees are given the most importance inevery regards and the company also has a policy that allows 15.4% of their pay to theirretirement funds. KIA Motors can take a leaf out of the following policy and encompass suchsimilar policies in their organizational framework.
4SUSTAINABLE BUSINESS PRACTICES AND STRATEGIESIn sharp contrast to the supplier management policy of KIA Motors, Trader Joe’s follows aproper supplier management policy that helps the company to have a proper relationship with thesuppliers. This helps them to control the prices of the raw materials and decrease the operatingcost of the company. The following policy thus needs to be implemented by the management ofKIA Motors to make the organization more profitable.Trader Joe’s has a successful marketing plan in place that has been able to provide hugesuccess to the organization (Giles, 2014). The flyer program of the organization and its reach infar off places has helped it to promote itself in a much better way. KIA Motors have failed in thisparticular area and thus it needs to implement a similar program to be able to create a strongholdin the market. 1.2 SMART FrameworkSMART Framework is the acronym for Specific, Measureable, Attainable, Relevant andTime Based Goals and objectives taken up by any person or an organization. Therecommendations provided in the introductory part of the project can be well measured by theSMART Framework. 1.Specific- The issues identified are surely specific as they does not tend to deviate fromthe main issue and describe the actual set of problems that are generally faced by theorganization (Dasgupta& Hart, 2015). The wage problem of the employees is one of themain issues and directly shows the condition of the employees in KIA Motors. Theidentification of such issues is very much important for the management to operate thebusiness smoothly.
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