General Motors’PredicamentGeneral Motors filed for bankruptcy in2009. What confounded the situation morefor GM was that there was a terrible decline in automobile sales that sameyear; however, GM’s sales unfortunately dropped by 45%, whereas the entireindustry’s sales only dropped by 37%(Muller & Fahey, 2008). Toyota had already surpassed General Motors in global sales during thistime, and Ford looked like it would soon do so as well (Muller & Fahey, 2008). In addition to this, GM was given a $19.4billion bailout by the federal government in order to protect against thisbankruptcy and needed another $30 billion to fund its operations afterwards (Haldis,2009).
Research Done toDetermine Vehicle RetentionThis is a very difficult decision to make;however, it needs to be understood that the automobile industry is incrediblycompetitive, including such factors as fuel efficiency, model variation, andpricing, among others. Because of this,good research needs to be accomplished on the organization’s behalf in order toguarantee the satisfaction of its customers. There has already been too much lost in regards to GM’s financialdifficulties for it to inconsequentially consume any more of its market share.Due to all that has been previouslymentioned, it would be recommended for GM to conduct both a market research andsales analysis, which will not only help in discovering the best profitablelines for General Motors, but will also assist in finding the average quantityof sales for each brand. One way to bestdetermine customers’ wants and needs (regarding what brand or qualities in acar they are looking for) would be through the Likert Scale survey. “In the proposed approach the scale has acentral value indicating a neutral attitude towards a particular notion ofphenomenon and accordingly the values corresponding to the attitudes ofnegation and acceptance of various intensity” (Fory?& Gaca, 2016, p. 9).
Dueto manufacturing costs being such a major aspect of helping to right thefloundering General Motors, the analyst could also assess each vehicle model’stotal sales and then use that data – from both the past and the present – toassist in evaluating which models should be retained.Measurement Scale It would be recommended for GeneralMotors to measure their models for profitability, as well as overallsuccess. The ordinal scale used tomeasure GM’s lines would include both present and future costs of manufacturing,the degree of sales, and also the income of each brand. GM’s target population would also besuggested to increase in order to meet the lines that the majorityprefers. Additionally, breaking thetarget population into age ranges (such as 18-27, 28-34, etc.) would greatlyenhance the effectiveness of the data-gathering. In conjunction with this as well as usingwhat is called a physical property clinic, General Motors can then determinethe manufacturer’s suggested retail price. Those taking part in a physical propertyclinic evaluate the specific vehicle in question with a “sister GM vehicle andup to six competitive vehicles from the same segment.
They conduct reviews of each vehicle, rankthe vehicles according to their preferences, and complete a discrete-choice-basedpricing exercise that assesses relative values of each feature…” (Rusmevichientong et al., 2006, p. 48). TheBible commands all Christians to do all things with excellence. Ecclesiastes 9:10 (NET) says, “Whatever youfind to do with your hands, do it with all of your might…” The Christian is to not just “get by,” butwork hard, doing the best that they can with the talents and gifts that God hasgiven them. Working towards this goalwill help the Christian businessperson in excelling not just in their everydaywork, but also in their Christian character.
Best services for writing your paper according to Trustpilot
