The global automotive industry is currently undergoing significant changes, which in turn is creating new opportunities as well as new threats for the involved companies. At the same time the importance of the automotive industry as seen in its link to employment numbers and the amounts invested in research and development continues to dominate the national economies (Wolfe 2005, p. 3). Traditional automotive industry giants such as General Motors, Ford Motor Company, Volkswagen, and DaimlerChrysler are currently fighting furiously to even maintain their market share and profitability. At the same time Asian automotive companies, predominantly Toyota Motor Corporation, are gaining market share and profitability at high rates (KPMG 2006). All this begs for a renewed answer to the age-old question: How can automotive companies continue to win the hearts and minds of their future customers?
KeywordsBusiness Process Strategic Management Financial Economic Real Option Product Development Process
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