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Thursday, December 20, 2012

Business Excellence in the Automotive Industry

Business excellence is an ideal that all good entrepreneurs strive to achieve.  In fact, many organizations are devoted to honoring those businesses that best exemplify this concept.  However, business excellence cannot be strictly defined.  Rather, it varies from one industry to another.  For example, in the automotive industry, business excellence includes customer commitment, quality control, efficient supply, and innovative management.

Leaders in the automotive industry understand the need to form a strong bond with customers.  Perhaps more than other sectors, consumers are more likely to make a decision regarding an automobile purchase based upon their experience with those in the industry.  Thus, entrepreneurs need to be concerned with two key features relating to customer commitment.  The first is meeting the needs of the consumer, financially and socially.  People need automobiles that meet their economic means.  This not only means getting a good initial purchase price, but also finding a vehicle that will require minimal repair and maintenance down the road.  Consumers also want to purchase automobiles that will not require excess money to be spent on fuel.  Therefore, business excellence includes finding more cost-efficient production and distribution processes, and subsequently passing these savings on to the consumer.