Global Corporate Strategy Report: Volkswagen's Expansion Strategies

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This report provides an executive summary of Volkswagen's global corporate strategy, focusing on its expansion strategies, competitive landscape, and internal analysis. It examines Volkswagen's approach to internationalization, concentration, cooperation, integration, and diversification. The report analyzes the automotive industry's competitiveness using PESTLE and Porter's Five Forces frameworks, highlighting challenges such as the Dieselgate scandal, high attrition rates, and compliance issues. The analysis covers Volkswagen's strategic capabilities, including employee management, ethical integrity, and corporate social responsibility. The report emphasizes the importance of transparency, stakeholder expectations, and adapting to market dynamics to rebuild brand image and maintain competitiveness. It also discusses the impact of various factors like political, economic, social, technological, legal, and environmental factors on the business.
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GLOBAL CORPORATE
STRATEGY
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EXECUTIVE SUMMARY
Global corporate strategy of organization helps and direct in strategic decision making
process regarding globalization. Present report has been based on Global corporate strategy and
Volkswagen has been chosen for assessment. From this report it has been understood that
Volkswagen has adopted expansion strategy of concentration by investing is same product line
and bringing innovation and creation. The process of expansion through internationalization has
allowed and facilitated gain huge and strong growth and development. In addition to this,
Volkswagen has also focused on selecting and recruiting best and talented employees who can
bring innovation and creation and facilitate organization to bring advancement. The major
problems faced by the company are its Diesel scandal and increased in compliance issue along
with high attrition rate.
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Table of Contents
INTRODUCTION...........................................................................................................................3
Main body........................................................................................................................................3
1. Expansion Strategies and Global Competitiveness.................................................................3
2. Auto mobile Industry Competitiveness: .................................................................................6
3. Internal Analysis of Volkswagen On Strategic Capability.....................................................8
4. Maintenance of Corporate Social Responsibility..................................................................11
CONCLUSIONS............................................................................................................................13
REFERENCES..............................................................................................................................14
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INTRODUCTION
Global strategy of organization guides strategic decision making process regarding
globalization. It aims at expanding business in global and international markets. Volkswagen
(VOLKSWAGEN) is a German automotive industry founded in the year 1937. Volkswagen
group is considered as the largest auto maker industry as it has recorded the largest sales in year
2016. It focuses on providing leading transport solutions to its customers by effectively applying
global and international strategies. This automotive company faced some issues regarding
Dieselgate scandal and resulted in downfall of sales and brand image. Dieselgate scandal
happened in September 2015. United States Environmental Protection Agency (EPA) gave
notice to Volkswagen group as they identified that Volkswagen have installed software or device
in its cars. In this study report, various expansion strategies and global competitiveness used by
Volkswagen are discussed. This report also includes internal analysis of company and strategic
capability and also corporate social responsibilities are explained further.
Main body
1. Expansion Strategies and Global Competitiveness
Business strategies are formed in a way that it leads to bring effective outcomes for
organisation and leads to achieve organisational goals and objectives. Expansion business
strategies guides and directs business to develop in new markets and gain competitive
advantages. Volkswagen adopts to various market expansion strategies in order to rebuild its
brand image and gain trust of its customer and stakeholders. These strategies benefit to achieve
high development and growth as comparing to past achievements of Volkswagen after the
Dieselgate scandal. Management of Volkswagen group focuses on rebuilding its image by
providing maximum transparency of its operations and activities and adopts to various expansion
strategies given as below:
Expansion Through Concentration:
In this strategy, business focuses on making investment is same product line according to
the needs and preferences of target markets (Blackwelder and et.al., 2016). Volkswagen can
adopt expansion strategy of concentration by investing is same product line and bringing
innovation and creation. Environmental Protection Agency identified that software has been
inserted in cars that detects diesel engines testing. This leads to creation of Dieselgate scandal
which resulted in breaking of brand image of company and lost many customers. This can make
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Volkswagen group to gain its past achievement and also to gain trust and loyalty of customers.
This also facilitate Volkswagen to mitigate future risks and allow company to rebuild its image.
Volkswagen should adopt the concentration expansion strategy and make changes and bring
innovative feature in its current cars. This strategy needs to be adopted only by aligning with
expectation of stakeholders and also by providing accurate transparency to its customers and
various other stakeholders so that it gets aligns with expectations of them. Volkswagen needs to
monitor the performance of its employees and also aims at increasing their capabilities.
Volkswagen also needs to adopt ethical laws that can facilitate in rebuilding its brand image and
reputation.
Expansion Through Internationalization:
Internationalization expansion strategy refers to expanding business beyond national
markets. Generally, business organisation adopts this strategy when they have fully explored all
potential expansion in national market and look for opportunities of expansion in international
markets. Internationalization expansion can be attempted only when the company have accurate
cost, quality and timely delivery of products and services that are capable of facing competition
in international markets. Volkswagen adopted this successful strategy of expansion before the
scandal and gain huge and strong growth and development. Volkswagen should also aim at
maintaining ethical integrity by performing effective business actions. Volkswagen needs to
maintain ethical integrity and transparency of business operation so that it does not face any
further issues. This will facilitate Volkswagen to maintain standards of environmental
organisation and also to earn trust of its customers and various other stakeholders.
Expansion Through Cooperation:
Expansion strategy of cooperation refers to coming in mutual agreement with competitors
and it facilitates in carrying out business operations and competency. This also strategy of
cooperation facilitates in competency with expansion and leads to achievement of objectives by
expanding market potential (Damert and Baumgartner, 2018). Volkswagen should adapt to
scandal. It can either take over another business or come in merger agreement and facilitate
building trust and loyalty of customers. It should also maintain ethical integrity by adopting to
accurate plans and policies. Volkswagen can also do joint venture with another automotive
company and gain advantage of rebuilding image of brand by aligning it with expectations of its
stakeholders, such as, customers, suppliers, engineers, intermediaries of marketing and sales.
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Volkswagen needs to aim at providing proper transparency of performance to its stakeholders
and gain in fulfilling their expectations.
Expansion Through Integration:
Expansion through integration refers to combining present operations of business and no
changes in market segmentation. It is considered as a grand strategy for expansion as it widens
the scope of business organisation. Integration can be adopted by value chain which comprises
interlinked activities which an organisation performs (Dodgson, 2018). Interlinked activities start
from acquisition of raw material, production up to marketing of finished products and services.
Volkswagen can adopt this strategy and expand its business and rebuild its brand image and
loyalty of customers. Integration includes two methods i.e. vertical and horizontal. In vertical
integration, Volkswagen can retreat sources of raw material or facilitate sale of finished goods.
Horizontal intergeneration can be adapted by Volkswagen by taking over same type of product
business having same marketing and production level and also meet expectations of various
stakeholders. Volkswagen needs to adapt to expansion strategies by considering expectations of
various stakeholders. Volkswagen need to aim at monitoring capabilities of its employees and
their performance so that it leads to help in aligning communication with them. This can help
Volkswagen to mitigate future risks and rebuild the company's reputation and brand image.
Expansion Through Diversification:
Diversification refers to changing business definition and developing new products or
services. It also refers to adopting expansion by entering into new markets with the same product
line either by doing joint venture or individually (Epstein, 2018). Generally, business
organisations adopt to diversification in order to gain advantage and overcome economic
downturns. Diversification also facilitate in set off the losses of one product line with profits of
other products. Volkswagen can adapt to diversification and also allow transparency of business
activities so that it can gain profits through new products and set off losses caused by Dieselgate
scandal. It may also expand its business by conglomerate diversification in which expansion is
done in different areas related or unrelated to core business products of company. Volkswagen
can provide its stakeholders with proper transparency of its business operation and fulfil their
expectations. Volkswagen also needs to align its business strategies with expectation of
stakeholders so that it helps in mitigating future risks. Volkswagen needs to monitor its business
activities and business performance so that it may results in positive outcomes. Volkswagen can
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adapt to this expansion strategy by merging or taking over another company and expand its
market segmentation.
2. Auto mobile Industry Competitiveness:
Critically evaluating the nature of the competitive landscape faced by Volkswagen from its most
relevant competitors.
PESTLE Analysis
Political: There are various trade rules and regulations in every nation that the company needs to
follow while operating business in different nations. These factors are very complex as every
nation have their own political aspects that are to be determined by the organization in order to
run the business.
Economic: As countries have different economic condition and this affects the purchasing power
of the consumer. This factor determines that whether the business will run successfully in the
country or not. As, in developing nations auto-mobiles industry is growing more because of
increasing purchasing power and living standard of people.
Social: Automobile industry is growing rapidly and Volkswagen is providing employment
opportunities to many people.
Technological: Volkswagen is running its operations as per the latest technology and this is the
major reason behind its growth. Along with this, it is also growing the business of ancillary
industry.
Legal: Auto-mobiles industry always runs business as per the rules and regulations. The
company Volkswagen is also doing the same by following all the norms of pollution and engine
forming as per the rules and law of the nation.
Environmental: In this factor it has been determined that the company will be focusing on the
all the factor and regulations that affects the environment. It is the duty of every organization to
run its operation in such a way that it does not harm the environment.
To evaluate the nature of the competitive landscape and its impact on global auto mobile
industry Porter's five forces analysis will be used for the same:
Porter's five forces analysis of Volkswagen - Volkswagen is one of the most reputed company
in the world. Company has a big portfolio where different cars are being sold by the
organisation. Passenger as well as luxury cars are the one in which organisation deals in. Scandal
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of the organisation has damaged the brand name but somehow company has managed it
somehow that its growth has not been affected to a great extent. Here are the porter's five forces
that will determine the effect of these forces on its competitive position in its targeted market.
I. Bargaining power of suppliers: Company has various suppliers in all over the world
which are situated in every region thus, higher number of suppliers is the major reason
behind low bargaining power of supplier (Epstein,2018). As company can easily switch
to another supplier due to large availability in numbers it results in low bargaining.
Everyone wants to get connected and supply their material to big brands such as
Volkswagen, so this is also a major reason behind less bargaining from suppliers.
II. Bargaining power of customers: In today's world in every sector customer do
bargaining due to several other options are available in the market. High competition
between the companies has given major benefits to consumers. So bargaining power of
customers is high due to the given reasons along with the knowledge every consumer has.
They bargain in order to get the products at the least possible prices. In context to
Volkswagen, customers bargain but not a great extent due to the brand name company
has maintained in years (Dodgson, 2018). This is the reason being bargaining power is
medium not very low and not high. As it is an automobile industry that where people do
not buy cars in bulk so that is also a reason that their bargaining power is high as where
investment is high every person thinks before spending. No one wants to give more and
higher amount when they are getting other good quality things on same prices.
Volkswagen also faces the same circumstances where it has faced the following
circumstances.
III. Threat of substitute product: Volkswagen is facing higher competition in industry due
to many other substitutes like public transport and online cabs. It is high due to the major
options available with customers. In diesel cars also, there are various options available
in different brands but substitute of diesel car in electronic car which is also being
preferred by people in this recent era. Along with this, Volkswagen has faced the major
challenges due to its scandal people started shifting other substitute products which has
affected the business to a great extent. This is met by company by dealing the problem
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and again gaining the trust of people. Because when people trust a brand, they do not
switch easily to substitute products.
IV. Threat of new entrants: In automotive industry threat of new entrants is very low as it
requires higher investment to enter in this industry (Hickman and Silva, 2018).
Volkswagen does not face threat of new entrants, but it has major difficulty in higher
competition that is being faced in the industry. In addition to this, there are high rules and
legal requirement which are required to comply with which is not easy for any brand to
follow so it is also a reason that threat of new entrants to Volkswagen is low.
V. Intensity of Rivalry in the industry: It is high, as every brand is focusing on marketing
and attracting customers as much as it can (Damert and Baumgartner, 2018). This will
result in high rivalry that is being faced by Volkswagen. Due to its scandal also, it has
faced major effects from the same and overall intensity is high.
From the above study it has been analysed that Volkswagen does not have a higher threat
of new entrants due to its higher investment and legal requirements. In addition to this, Company
has various other factors which are required to be met in order to survive in the market. Its
scandal is also a reason for its major concentration on every small aspect. Volkswagen does not
face threat of new entrants, but it has major difficulty in higher competition that is being faced in
the industry. Volkswagen has made the scandal due to higher competition it has found the
shortcut for surviving in the long run.
In auto mobile industry there are majorly three kinds of cost which is distribution, labour
and raw material cost (Jakobsen and Worm, 2018). This all cost is covered in its pricing and
other than that Volkswagen charges high due to its quality of product and brand name.
Volkswagen has always offered the best quality products to its customers and that is the main
reason behind creating a big brand name. In this industry people pay higher for better quality and
good services and that is the reason behind company has a good reputation in mind of its
customers.
Volkswagen has enjoyed various benefits and higher returns due to the quality of cars it
has delivered to potential customers (Kerzner, 2018). Auto mobile industry has also faced low
average revenue due to its EMI schemes where people pay in instalments. It is being suffered by
company as they do not get all the money in single time. Other than this, various competitor’s
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strategies are being faced by industry and the company as well. The Biggest competitor of
Volkswagen is Hyundai and Toyota. To overcome the same, the organisation has prepared
various strategies and its currently applying the same in order to deal with it. It is also being
known that company has faced major challenges due to the scandal but has dealt with it in
positive manner and does not let affect it on the growth of the company.
Comparing Volkswagen with Ford and Toyota
Basis Volkswagen Ford Toyota
Growth in sales 5% from last year 3% from last year 2% from previous year
Industry life cycle:
Illustration 1: Industry life cycle
(Source: Industry life cycle, 2017)
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3. Internal Analysis of Volkswagen On Strategic Capability
Internal analysis is done in order to find out and review business policies and strategies.
Corporate business strategy is concerned and guides directions for future purpose and objectives
of organization. Internal analysis helps in identifying strength and core competencies of business
organization that facilitate in sustaining its positions and also helps in gaining competitive
advantage. Internal analysis also facilitates in identifying its weakness that limits and breaks
success of business and its products and services (Fracarolli, Nunes and Lee Park, 2016).
Volkswagen group consists two divisions and includes automotive division and financial
division. Commercial business, passenger cars and power engineering come in automotive
division. Volkswagen is formulating and developing expansion strategies to emerge more
accountable image after the diesel scandal. Volkswagen carries out an internal analysis of its
business environment in order to identify core competencies of business activities and also to
identify and find solution for challenges of recruiting and retaining skilful force, which is
explained as follows:
Strength and Core Competencies of Volkswagen
International Presence: It is the greatest strength for every business organization to be
present in international markets. Volkswagen represent globally with having its presence
from Europe to North and South America, Asia Pacific. Volkswagen's portfolio consists
of various automation transport vehicles that makes its core competency and also earned
trust and loyalty of its customers by meeting needs and wants of customers. Volkswagen
aims at providing premium and luxury cars such as Porsche, Audi, Lamborghini, etc,
Volkswagen also provides passenger car for lower markets (Hickman and Silva, 2018).
The strong brand image of company helped in bearing loss and shock of Dieselgate
scandal. Brand images of Volkswagen facilitated in retaining sales and existing target
customers.
Large Product Portfolio: Volkswagen sells financial services as well which makes it
business of large portfolio. Volkswagen has 12 automation brands under its product
portfolio. Large product portfolio benefits in gaining large market share and act as core
competency for Volkswagen as if one product faces losses it can be set off by the other
product. Volkswagen makes commercial vehicles, sports bikes, cars and premium
vehicles as well. Financial services of Volkswagen include dealer and customer
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financing, direct ban insurance, leasing, mobility offerings and also includes fleet
management.
Increased Sales World-Wide: Volkswagen experienced sales growth across world-wide
in 2016 for its various brands with 933,300 vehicles delivered in December (+11.8
percent). This resulted in rebuilding its brand image and reputation of company after the
Dieselgate scandal.
Platform Strategy: Volkswagen owns 13 brands ranging from Ducati, Porsche,
Volkswagen SUV Tourage to Bentley and this makes Volkswagen to gain advantage and
facilitate in large market share. Volkswagen uses same components for various different
cars and shares same platform, this leads to creation of core competency for company
(Jakobsen and Worm, 2018).
Technological Innovation: Every business organization needs to adapt to technological
advancement and bring innovation in business process. This may bring positive outcomes
for company and lead to increase productivity and profits. Volkswagen innovated and
introduced an automation gearbox in which it has fuel efficient as manual transmission,
this greatly influenced demands of Volkswagen cars in minds of customers. It also
invests in research and development to produce and autonomous cars.
Human Resource Management: Volkswagen focuses on selecting and recruiting best and
talented employees who can bring innovation and creation and facilitate organization to
bring advancement. It also focuses on having knowledgeable and skilled employees and
aims at retaining them. Volkswagen has more than 627000 employees world-wide
operating its large portfolio business. Current skills and characteristics of human resource
of Volkswagen has led to increasing the productivity and profits and also made
Volkswagen as a global automotive manufacturer. Volkswagen aims at offering wide
range of job opportunities and also makes professional development plans and programs
for employees.
Excellent Supply Chain Management: Every automotive brand needs effective and
excellent supply chain management as it acts as a critical strength for company (Jiang,
Holburn and Beamish, 2016). DHL Supply Chain is the major in-plant logistics for
Volkswagen managing 50% of the materials used in models produced by its group. IBM
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provides technology to improve the automakers material logistic operations with sensor
technology.
Weakness and Problems Faced by Volkswagen:
Diesel scandal tarnished brand image and reputation: Dieselgate scandal resulted in
tarnishing the reputation and brand image of Volkswagen. The scandal of Dieselgate
2015 effects are still present and affects business of Volkswagen. The scandal brought
great influences on brand image and reputation. The company scandal costed around
billions of dollars as millions of cars were affected by that scandal world-wide.
Increased compliance issues: Dieselgate scandal created various issues for Volkswagen
group. USA Department of Justice made a complaint for breaching the Clean Air Act. It
was estimated the charges exceeds BP’s scandal of Deepwater Horizon of close to
USD60 billion(BCG matrix tools, 2018).
Reduced operating profits: The scandal of Dieselgate costed huge loss for Volkswagen
as it has to USD25 billion in fines, and penalties. It also had to pay for 580000 tainted
vehicles which in turned resulted in lowering down of operating profits for company
(Kerzner, 2018).
High attrition rate: Volkswagen faced high attrition rate after the Dieselgate scandal.
There was great reduction in employee’s staff of over 30,000 in Volkswagen group
around worldwide. It also forced the resignation of CEO Martin Winkerton and CEO of
Volkswagen USA Micheal Horn.
Good governance lacking- good governance is the absence of lack of accountability in
government, corruption and also political repression, suffocation of civil society and
denial of fundamental human rights. Thus, promoting good governance includes reforms
to increase accountability, transparency and responsiveness.
leadership growth- leadership growth helps in expanding the capacity of individuals in
order to perform in leadership roles within a particular organisation.
Success planning- it is the process in order to identify and develop new leaders who can
replace old leaders when they leave the position. It leads in increasing availability of
experienced and also of capable employees that are prepared for assuming roles.
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SWOT ANALYSIS:
Strength:
Volkswagen has large portfolio in its product line among different automobile
companies.
Volkswagen has created brand image of company which acts as strong strength for
company.
Company aims at restructuring and increasing sales revenue
Volkswagen has strong global presence that facilitate effective benefits.
Weakness:
Brand images of Volkswagen got decreased and dented by diesel gate scandal.
Electronic vehicles of Volkswagen does not have technological expertise which acts as as
threat for company.
The Largest recall rate in UK markets acts as threat for Volkswagen.
Opportunities:
The largest untapped markets of India bring various opportunities for Volkswagen.
Self-driven vehicles will have large demand in future which will bring many
opportunities for Volkswagen.
Threats:
There is a major threat of higher competition in the market along with that buyers easily
switch in the automobile industry.
Along with this the enhancement in the import duties will be a big threat for the
company.
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4. Maintenance of Corporate Social Responsibility
Volkswagen has maintained Corporate Social Responsibility by providing attractive and
environmentally friendly range of auto-mobiles. Corporate Social Responsibility aims at
ensuring that organization conducts its business activities in ethical ways. Volkswagen aims at
making continuous improvements of environmentally friendly products. It also makes ecological
efficient technologies and make them available in world-wide (Li and et.al., 2018). Business
organization adapt to various management and leadership theories to maintain Corporate Social
Responsibility, and Volkswagen aims at dealing effectively with harsh business environment.
Corporate social responsibility facilitates in providing health and safety measures to its
employees. Volkswagen manufactures its car in a way that meet to strict environmental and
safety standards which leads to meeting expectations of society. Occupational health and safety
standards cover issues regarding physical well-being of employees and workers. It also aims at
providing mental and social well-being to its employees.
Various leadership and management theories adopted by Corporate Social Responsibility
Volkswagen group that aims at maintaining CSR policy are explained as follows
Transactional Leadership Style: transactional leaders focus on providing motivation and
encourage employees to complete task and take effective part in operations. Transactional
leaders generally benefit in maintaining a group of people and motivating them. Volkswagen
can adapt to transactional leadership style in order to maintain CSR policy and health and safety
standards as it will provide guidance and motivation to employees. Transactional leadership
style is not beneficial for maintaining management systems as it doesn't have high degree of
motivation and knowledge.
Democratic Leadership Style: democratic leadership style refers to maintain effective
participation of employees in business activities and also in decision-making. Volkswagen
adapts to democratic leadership style so that it can make its employees to take initiative part in
business operations and leads to introduce innovation ideas and strategies. Democratic leaders
also aim at maintaining relationship with CSR policies and provide health and safety to its
employees (Yahaya and Ebrahim, 2016).
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Delegative Leadership Style: organisations adopting Delegative leadership style allows its
employees to take effective part in business activities and decision making. Volkswagen can
adapt to this leadership style in guiding its trained and skilled employees, it also motivates
them. Management only provides guidelines and directs them to do work and skilled employees
which makes them to bring innovation and also facilitate their retention.
Transformational Leadership Style: transactional leaders focus on achieving target objectives of
business. Transformational leaders generally have autocratic attitude and enforces punishment
and rewards accordingly to the performance and behaviour of employees (Effective Leadership
Styles in Business, 2018). Transformational leaders often lead to maintenance of CSR and
management system but also leads to dissatisfaction for employees and also employee turnover.
Autocratic Leadership Style: Autocratic leaders and managers provides direction to its leaders
and make them follow the rules and regulations of company and CSR. Volkswagen adapt
autocratic style to deal with maintaining health and safety standards in activities so that it can
accurately maintain safety standards. CSR policies aims at maintaining ethical business
practices and also focus on economic responsibilities. Autocratic management style will
facilitate.
Volkswagen should apply various leadership styles and techniques to retain its talented
and skilled employees (Saleem, 2015). It can also aim at adopting to various skills such as
problem solving, and communication skills make effective working environment that motivate
employees. Volkswagen can also adapt and maintain a working environment that benefits
potential growth of employees and also focus on controlling deteriorating environmental factors
that affects employee retention. Added value of CSR aims at improving anticipation and
managing expanding spectrum of risks. CSR's added value enhances ability of recruiting and
selecting staff and also aims at retaining them in business environment. It also contributes in
bringing innovation and creation in business activities and finds opportunities for further growth
and development. Volkswagen should adapt to effective leadership style accordingly to the
situation which can bring positive outcomes for company and also benefits employees by
maintaining safety and health standards at work.
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There are some safety standards like ISO 2000 which guides that from a consensus
among international experts representing the main stakeholders and is designed to encourage and
promote the implementation of Social Responsibility best practices internationally. Volkswagen
to strictly maintain the various practices of CSR and provide benefits to society (Moravcsik,
2017). Volkswagen can gain skilful workforce competency and develop its business and result in
increasing productivity and profits by following different safety standards of CSR.
CONCLUSIONS
This study report explains various effects of Diesel gate scandal on Volkswagen.
Expansion strategies guides business organization to gain global competitiveness and increase its
market share and productivity. Various environmental factors influence business and its
operations. Internal analysis of business organization helps in identifying strength and core
competencies of business organization that facilitate in sustaining its positions and also helps in
gaining competitive advantage. This study report, critically analysis the various leadership style
adopted by an organization and its effect on management and maintaining CSR policy. Every
business organization maintains health and safety standards for employees and also benefits to
society.
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REFERENCES
Books and Journal
Blackwelder, B. and et.al., 2016. The Volkswagen Scandal.
Damert, M. and Baumgartner, R.J., 2018. Intra‐sectoral differences in climate change strategies:
Evidence from the global automotive industry. Business Strategy and the
Environment, 27(3), pp.265-281.
Dodgson, M., 2018. Technological collaboration in industry: strategy, policy and
internationalization in innovation. Routledge.
Epstein, M.J., 2018. Making sustainability work: Best practices in managing and measuring
corporate social, environmental and economic impacts. Routledge.
Fracarolli Nunes, M. and Lee Park, C., 2016. Caught red-handed: the cost of the Volkswagen
Dieselgate. Journal of Global Responsibility, 7(2), pp.288-302.
Hickman, C.R. and Silva, M.A., 2018. Creating excellence: Managing corporate culture,
strategy, and change in the new age. Routledge.
Jakobsen, M. and Worm, V., 2018. Discourses on Philosophies of Science in International
Business Studies: Perspectives and Consequences.
Jiang, G.F., Holburn, G.L. and Beamish, P.W., 2016. The spatial structure of foreign subsidiaries
and MNE expansion strategy. Journal of World Business, 51(3), pp.438-450.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Li, L. and et.al., 2018. Industry-wide corporate fraud: The truth behind the Volkswagen
scandal. Journal of Cleaner Production, 172, pp.3167-3175.
Moravcsik, A., 2017. Faster, Higher, Farther: The Volkswagen Scandal. Foreign Affairs, 96(5),
p.183.
Saleem, H., 2015. The impact of leadership styles on job satisfaction and mediating role of
perceived organizational politics. Procedia-Social and Behavioral Sciences, 172,
pp.563-569.
Yahaya, R. and Ebrahim, F., 2016. Leadership styles and organizational commitment: literature
review. Journal of Management Development, 35(2), pp.190-216.
Online
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Effective Leadership Styles in Business. 2018. [Online]. Available
through:<https://www.americanexpress.com/us/small-business/openforum/articles/
effective-leadership-styles-business/>.
Expansion Strategy. 2018. [Online]. Available through:<https://businessjargons.com/expansion-
strategy.html>.
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