Global Reshaping of Competitive Relationships in the Automotive Industry
Globalne promene konkurentskih odnosa u auto industriji
Abstract
Business environment at the beginning of the 21st century is characterized by disruptive and frequent changes. These changes lead to restructuring of some traditional industries, such as automotive industry. Great recession, technology innovations and changes in government regulations unfreezed the structure of automotive industry. Consequently, competitors in the industry have to fit their strategies to new reality. Great recession resulted in financial troubles or even bankruptcy of some significant incumbents and created market space for late followers from emerging markets. Digital innovations have created preconditions for emergence of autonomous cars and car sharing and ridesharing service industry. Global pollution puts pressure on national governments to establish higher gas emission standards and ban diesel vehicles in city centers, which encourages development of electric cars. It is hard to predict the course of development of carsharing service industry, autonomous and electric cars due to high risks and uncertainties. Therefore, auto companies focus their efforts on some smaller market segments, form strategic alliances and acquire targets with complementary resources.
Apstrakt
Poslovni ambijent na početku 21. veka se odlikuje radikalnim i frekventnim promenama. Ove promene dovode do restrukturiranja pojedinih tradicionalnih industrija kao što je auto industrija. Finansijska kriza, tehnološke inovacije i promena državne regulative „odmrzle“ su odnose u auto industriji, a konkurenti su prinuđeni da prilagođavaju svoje po slovne strategije novim odnosima u grani. Finansijska kriza uzrokovala je finansijske teškoće ili čak i bankrotstvo pojedinih značajnih konkurenata u grani, što je otvorilo prostor za pojavu kasnih sledbenika sa tržišta u nastajanju. Inovacije u digitalnom sektoru stvorile su pretpostavke za pojavu autonomnih vozila i usluge deljenja vozila (carsharing) i deljenje vožni. Globalno zagađenje podstaklo je vlade da pooštre standarde emisije gasova, a pojedine zemlje postepeno uvode zabranu vozila sa dizel motorima, što je otvorilo prostor za ekspanziju električnih vozila. U kom pravcu će se dalje razvijati trendovi autonomnih vozila, carsharinga i elektrifikacije vozila nije lako predvideti. Auto kompanije su u cilju kontrole rizika na nepredvidive trendove u grani reagovale akvizicijama, sklapanjem strateških partnerstava i pažljivim fokusom na pojedine segmente.
References
- Almor, T., Shlomo, Y.T. and Avital, M. (2014). Maturing, Technology-Based, Born-Global Companies: Surviving Through Merger and Acquisitions. Management International Review, 54(4), 421-444.
- Barney, J. (2014). Gaining and Sustaining Competitive Advantage, Pearson: New York.
- Becerra, M. (2009). Theory of Firm for Strategic Management: Economic Value Analysis. New York: Cambridge University Press.
- CAR. (2016). The Impact of New Mobility Services on the Automotive Industry. Michigan: Center for Automotive Research
- Christensen, M. C., Alton, R., Rising, C., and Walderck, A. (2011). The Big Idea: The New M&A Playbook. Harvard Business Review, 89 (3), 49 – 57.
- Deloitte (2014). Global Automotive Consumer Study: Exploring Consumer Preferences in Key Markets around the World. New York: Deloitte.
- Downes, L. and Nunes, F. P. (2013). Big Bang Disruption. Harvard Business Review, 90(3), 44 -56.
- Grundy, T. (2005). Rethinking and Reinventing Michaels Porter’s Five Forces Model. Strategic Change, 5(8), 213-229.
- Helmers, E., Marx, P. (2012). Electric cars: technical characteristics and environmental impacts. Environmental Sciences Europe, 24(14), 34-49.
- https://www.iea.org/gevo2018/
- Ijer, G. (2016). Connected Cars – A State of the Industry Report. Newcastle: Hedgehoglab.
- International Energy Agency (2018). Global EV Outlook, Paris: IEA.
- Jadaan, K., Zeater, S. and Abukhalil, Y. (2017). Connected Vehicles: An Innovative Transport Technology. Procedia Engineering, 187, 641-648.
- Kumar, N. (2006). Strategies to Fight Low-Cost Rivals. Harvard Business Review, 84(12), 106-112.
- MacDuffie, J. P. and Fujimoto, T. (2010). Why Dinosaurs Will Keep Ruling the Auto Industry. Harvard Business Review, 88(6), 23-25.
- MacNeill, S. and Chanaron, J.J. (2005). Trends and drivers of change in the European automotive industry. International Journal of Automotive Technology and Management, 5(1), 83–106.
- Madić, V., Marković, D. i Rakita, B. (2015). Konkurentsko repozicioniranje kroz međunarodna preuzimanja u auto industriji – primer Fiat Chrysler, u A. Živković, D. Molnar, Ž. Stojanović, E. Manić (Eds), Ekonomska politika i razvoj, (str. 267 -291), Beograd: Ekonomski fakultet.
- Marković, D. Aćimović, S. i Mijušković, V. (2016). Sticanje znanja putem internacionalizacije poslovanja kod kasnih sledbenika u auto industriji. Marketing, 47(4), 267-277.
- McKinsey & Company (2013). The Road to 2020 and Beyond: What’s Driving the Global Automotive Industry?. Stutgart: McKinsey & Company.
- Motohashi, K. and Yuan Y. (2010). Productivity Impact of Technology Spillover from Multinationals to Local Firms: Comparing China‘s Automobile and Electronics Industries. Research Policy, 39(6), 790-798.
- Peng W. M. (2012). The Global Strategy of Emerging Multinationals from China. Global Strategy Journal, 2(2), 97 – 107.
- Pertusa – Ortega, E., Morina – Azorin, J. and Claver – Cortes, E. (2009). Competitive Strategies and Firm Performance: A Comparative Analysis of Pure, Hybrid and Stuck in the middle Strategies in Spanish Firms. British Journal of Management, 20(4), 508-523.
- Porter, M. (1980). Competitive Strategy Techniques for Analyzing Industries and Competitors. New York: The Free Press.
- Porter, M. (2008). The Five Competitive Forces that Shape Strategy. Harvard Business Review, 86(1), 79-83.
- PwC (2013). PWC Autofacts, Delaware: PwC
- Rakita, B., Madić, V. and Marković, D. (2017). Competitive Strategies of Late Followers in Auto Industry: Case Study Hyundai – Kia. Industrija, 45(1), 121-146
- Rugman, M.A. and D’Cruz, J. (1997). The Theory of Flagship Firm. European Management Journal, 15(4), 403-412.
- Sakaria, N., Stehfest, N. (2013). Millennials and Mobility: Understanding the Millennial Mindset, APTA.
- Shende, V. (2014). Analysis of Research in Consumer Behavior of Automobile Passenger Car Customer. International Journal of Scientific and Research Publications, 4(2), 17-34.
- Suarez, F. F. And Lanzolla, G. (2007). The Role of Environmental Dynamics in Building a First Mover Advantage Theory. Academy of Management Review, 32(2), 377 – 392.
- Thompson, A., Peteraf, M., Gamble, J. and Strickland A.J. (2015), Crafting and Executing Strategy, New York: Mc Graw Hill.
- Thornhill, S. and White, E.R. (2007). Strategic Purity: A Multi-Industry Evaluation of Pure vs. Hybrid Business Strategies. Strategic Management Journal, 28(5). 553-561.
- Xu, J. and Liu, X. (2018), Technology is Changing What a Premium Brand Looks Like. Harvard Business Review, 96(5), 2-5.
- Zhang, L., Zhang, J., Duan, Z. and Bryde, D. (2015). Sustainable Bike–sharing systems: Characteristics and Commonalities across cases in Urban China. Journal of Cleaner Production, 97, 124-133.
- www.bloomberg.com
