General Motors Company

Paper Type:  Essay
Pages:  4
Wordcount:  980 Words
Date:  2022-04-04

General Motors Company (GM) is a multinational corporation whose headquarters are located in Detroit. This company deals in designing, manufacturing, marketing and distributing automobiles, vehicle parts and sells financial services. Gm is global as it manufactures vehicles in thirty five countries. The company has experienced immense progress throughout the years and in 2016, it reached the milestone of selling ten million vehicles. The company was established in September 1908 as a holding company by William C. Durant. It was ranked as the largest automobile manufacturer globally since its establishment until 2007 (General Motors, 2008). However, it faced some moments of bankruptcy and picked as the new GM in 2009. Besides automobiles, GM had automotive-components and non-automotive brands and between 1980s, a lot of its non-automotive brands were divested. For example, Terex and Euclid , electro-motive diesel, Detroit diesel and many other products. This aspect tends to boost the performance as well as the legacy of the company. The diversification of the company's brands which include Chevrolet, GMC, Buck, Cadillac, Holden and others also put them at a competitive advantage compared to their competitors since the clients are presented with a broad range of brands to choose from. The primary competitors of GM include Ford Motor Co., Toyota Motor Corporation, Bayerische Motoren Werke AG, Chrysler Group LLC and other automobile companies. GM holds a strong position in the USA's automotive market therefore has a competitive advantage in the US market. Their products are also safe and eco-friendly compared to the competitors which attracts increased preference by clients (General Motors,2008). For example, low fuel consuming pickups and SUVs are on higher demand.

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General Motors Company mission and vision statement also plays a crucial role in propelling the company's performance at a profitability direction. Just like any other corporate company, the vision and mission statement focuses on strategic necessities in the automobile industry. The GM vision statement is "to become the world's most valued automotive company." This vision is strategic, precise and straight forward. It practically points to the leadership of the company and the kind of image that they aim to build globally (Kissinger, 2017). In addition, the vision statement clearly specifies their target market as not just local but also international. Therefore, it goes without saying that they have to work industriously and be creative as well as innovative throughout to achieve and remain competitive in the worldwide in automotive industry. In order to remain pertinent to their vision statement, GM management plays a key role in identifying important variables that boosts and maintains their value in the market. Such variables include perceived product value, diversity of their brands, process efficiency, and rate of innovation, financial performance as well as other determinants.

Similarly, the company's mission statement, "to earn customers for life by building brands that inspire passion and loyalty through not only breakthrough technologies but also by serving and improving the communities in which we live and work around the world" indicates the holistic approach to address external factors that impact the business. The mission statement clearly plays a major role in equipping clients with confidence on GM's products. It vividly illustrates the importance imparted to the client's satisfaction in a bid to earn their royalty. In addition, it inspires humankind and the society we live in via provision of services that enhance communities globally and adoption of breakthrough technologies (Kissinger, 2017). These elements ensures that the GM strategies are implemented to ensure that the company expound on its large customer base via aspects such as quality products, splendid image and others are put into place. Such factors clearly escalate the company's competitiveness in the market thereby attracting more clients compared to the competitors. Moreover, GM's mission statement incorporates the clients desire therefore makes the customers feel as part and parcel of the company (General Motors, 2008).

The company's vision and mission statements directly translate to the company's success. The high emphasis on prioritization of good leadership and customer satisfaction is the backbone to the observable improved performance alongside other factors. It's diversity on brands and establishment of joint ventures with other states such as Shanghai GM, GM-AvtoVAZ in Russia and others also play a big role in reaching to huge number of people globally therefore expanded customer loyalty base (Binder, 2007).

Notably, GM has incorporated their vision and mission statements in their day to day activities and in brands production. An exemplary example is that they have enrolled with the U.S. Environmental Protection Agency (EPA) to ensure provision of sustainable conducive environment. General Motors Company has a large market segment in USA and earns about 60% of its revenue from there. In addition, the global market segment also translates to sizeable revenue therefore accumulated profit globally. The OnStar all-in-one assistant is a highly unique feature that makes GM outstanding in the market. This feature has over seven million subscribers as it provides convenience for the clients in terms of providing instant help in an emergency situation, provision of security, navigation, vehicle management and connections as it provides Wi-Fi Hotspots and 4G LTE (Dreher et al. 2009). Therefore, the General Motor's vision and mission statements are precise, satisfactory and ideal for achieving the automobile business as well as achieving and maintaining a large customer loyalty base.

References

Dreher, J., Lawler, M., Stewart, J., Strasorier, G., & Thorne, M. (2009). Metrics for Sustainable Manufacturing. Project Report), Laboratory for Sustainable Business, MIT, http://actionlearning. mit. edu/slab/files/slab_files/Projects/2009/GM,% 20report. pdf.

Khan, M. A., & Hashim, M. (2014). Organizational Change: Case Study of General Motors.

Binder, D. (2007). Meaty, Beaty, Big and Monopolistic: The Story of General Motors. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.989823Kissinger, D. (2017). General Motors' Vision Statement & Mission Statement (Analysis) - Panmore Institute. Panmore Institute. Retrieved 17 March 2018, from http://panmore.com/general-motors-vision-statement-mission-statement-analysisGeneral Motors (2008). Sustainability and GM: Vision and Strategy. Retrieved March 17, 2018, from http://www.gm.comGeneral Motors(2008). About GM: Company profile. Retrieved March 17, 2018, from http://www.gm.com

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General Motors Company. (2022, Apr 04). Retrieved from https://proessays.net/essays/general-motors-company

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