2008

BMWGROUP
ACaseStudy
AnindepthdiscussionofBMWGroup,abestpracticecase

Breslin/Hart/Kilmer/Miller/Weaver 1stEdition

Table of Contents
I. II.

BMW Group Identification Page 10 Year Financial Highlights BMW Group Time Line Introduction Fact 1: BMW Group Innovations Fact 2: BMW Group Internal Structure and Operations Fact 3: BMW Customer Satisfaction Fact 4: BMW Group Sustainability Fact 5: BMW Market and Financial Leadership BMW Group Best Practice Analysis Bibliography

III. IV. V. VI. VII. VIII. IX.

X. XI.

BMW Group 10-year Comparison 2007 2006 48,999 23.1 20.3 11.4 4,050 4,124 8.4 1,250 30.3 2,874 50,514 28,543 19,130 24.2 40.6 10.4 31,372 28,555 79,057 1,336 5,373 4,313 8.8 2005 46,656 22.9 20.9 12.0 3,793 3,287 7.0 1,048 31.9 2,239 47,556 27,010 16,973 22.8 39.1 10.4 29,509 28,084 74,566 1,621 6,184 3,993 8.6 2004 44,335 23.2 21.9 12.5 3,774 3,583 8.1 1,341 37.4 2,242 40,822 26,812 16,534 24.4 41.6 9.7 26,517 24,583 67,634 2,128 6,157 4,347 9.8 2003 41,525 22.7 22.1 12.3 3,353 3,205 7.7 1,258 39.3 1,947 36,921 24,554 16,150 26.3 45.4 9.8 22,090 23,235 61,475 1,659 4,970 4,245 10.2 2002 42,411 22.8 22.7 10.5 3,505 3,297 7.8 1,277 38.7 2,020 34,667 20,844 13,871 25.0 43.1 9.4 20,028 21,612 55,511 2,333 4,553 4,042 9.5 2001 38,463 25.3 24.0 16.0 3,356 3,242 8.4 1,376 42.4 1,866 31,282 19,977 10,770 21.0 37.0 8.4 19,223 21,266 51,259 2,437 4,304 3,516 9.1 2000 37,226 22.8 23.5 12.0 2,065 2,032 5.5 823 40.5 1,209 30,079 19,261 9,432 19.1 35.9 8.1 17,386 22,522 49,340 2,927 3,966 2,781 7.5 2000 35,356 18.1 1,578 1,663 4.7 637 38.3 1,026 20,056 15,819 4,896 13.6 19.1 8.0 13,457 17,522 35,875 2,879 2,138 6.0 1999 34,402 16.4 931 1,111 3.2 448 40.3 -2,487 6] 19,857 17,650 3,932 10.5 11.9 8.7 14,785 18,790 37,507 2,055 2,155 6.3 1,935 2,179 1998 32,280 16.0 1,232 1,061 3.3 537 50.6 462 18,586 12,053 6,445 21.0 28.7 10.0 9,331 14,863 30,639

Revenues Gross profit percentage Group Gross profit percentage Industrial Operations Gross profit percentage Financial Operations Profit before financial result Profit before tax Return on sales (earnings before tax/revenues) Income taxes Effective tax rate Net profit/ - loss for the year Balance Sheet Non-current assets Current assets Equity Equity ratio Group Industrial Operations Financial Operations Non-current provisions and liabilities Current provisions and liabilities Balance sheet total Cash Flow Statement Cash and cash equivalents at balance sheet date Operating cash flow 8] Capital expenditure Capital expenditure ratio (capital expenditure/revenues)

million % % % million million % million % million million million million % % % million million million million million million %

56,018 21.8 19.8 10.3 4,212 3,873 6.9 739 19.1 3,134 56,619 32,378 21,744 24.4 43.8 9.2 33,469 33,784 88,997 2,393 6,340 4,267 7.6

1916 Formed under the name Bayerische Flugzeug Werke (BFW) The origins of BMW trace back to 1913 when Karl Friedrich Rapp, a Bavarian engineer in a German aircraft company, formed Rapp Motoren Werke in a suburb of Munich. In March that same year, Rapp Motoren Werke merged with Gustav Flugmaschine Fabrik to form BMW, forming the company we know today 1917 In 1917, BMW's first aircraft engine went into production, the 6 cylinder Type IIIa. The Type IIIa set an altitude record of 9,760 meters (32,013 ft). This model influenced the BMW logo, introduced in 1920 which was based on the circular design of an aircraft propeller 1923 It was the 500cc, side-valve, BMW R32 that started BMW's long history of building some of the world's finest motorcycles! The R32 became the foundation for all future boxer powered BMW motorcycles. 3,000 BMW R32 motorcycle was sold in the first 3 years of production. 1928 BMW starts car manufacture. The first car was an Austin Seven built under license. It used an open roof and were powered by a 743cc 4 cylinder engine producing 15 horsepower. Top speed was in the neighbourhood of 50 mph (80 km/h). This specific model was produced for 4 years and used in the design of 1948 In 1948 BMW built in West Germany its first post-war car the BMW 501 six cylinder car. This model was sold up until 1964 Few could aspire to drive one, but it nonetheless made a public impression, quickly acquiring the soubriquet Baroque Angel. 1972 Munich HQ four cylinder building opened (pictured). Second Dingolfing plant opened. BMW assembly started at Rosslyn, South Africa. BMW Motorsport GmbH founded. 1998 After extended talks concerning the sale of Rolls Royce, BMW officially bought the rights to the Rolls Royce name and logo from Volkswagen Later That year the Rover 75 is Lauched. This is the Rolls Royce car that BMW had the rights to. This model is still being manufactured today and is BMW groups best selling Rolls Royce 2001 the New Mini Cooper is laughed The mini is a relatively inexpensive sports car starting at 11, 600. This car is manufactured in Great Brittan. The mini has done very well in Europe and in the US. More than 80 per cent of MINI production is currently exported to almost 80 countries worldwide with the largest export market being the USA. 2006 17 million BMW Group Academy UK opens. BMW Group Academy UK provides all technical and non-technical training for the BMW, MINI and motorcycle dealer networks and is available to BMW Groups employees throughout the UK. This Academy has several showrooms for employee training and simulation to take place. 2008 BMW 118d wins World Green Car of the Year. Judges of the World Car of the Year Awards praised BMW and its 118d for offering buyers a model with a range of innovative technologies that reduce fuel consumption and cut CO2 emissions as standard. the BMW 118d was chosen ahead of 10 other environmentally friendly production vehicles for the World Green Car of the Year. The Mercedes Benz Smart fortwo cdi and the Volkswagen Passat 1.9 TDI were the two other top three contenders.

www.greencarsite.co.uk/GREENNEWS/bmw-118d.htm

One O of the ten largest car m n manufacturer in the world Bayerische Motoren W rs d, e Werke Aktienges sellschaft has a long histor of excellence. Founded in 1918, BM AG got it start in Wo ry MW ts orld War I pro oducing aircraft engines. E Evolving with the market t h they began pr roducing mot torcycles, and by d 1928 they built their first automob Through a strong com y f bile. h mpany culture meticulous engineering, and e, s , ground br reaking innov vations BMW Group has established t W themselves as producers of the most elit f te vehicles o the road. on To T illustrate BMW Groups excellence, this case stud will detail five objective facts, using each B dy e fact as a v vehicle to high hlight inform mation that qu ualifies and co ontributes to this compan as a best o ny practice w within the ma arket segment of the autom t motive industry most com mmonly referr to as luxu red ury vehicle. T jor hydrogen-com mbustion eng beyond t gine the FACT 1: BMW is the only maj car make r to bring a h ype prototy state (Gain)
BMWG GroupInnovatio ons

It has been evi t ident over the years that B e BMW is the le eader in new and innovati ideas with ive hin the autom motive indust Much of t success can be attribu to their try. this uted Efficient-Dy ynamics prog gram. EfficientD Dynamics is separated into three catego s o ories: Efficien Technolog ActiveHybrid, and nt gies, CleanEne ergy.

Active Hyb brid Efficient Techno ologies

CleanEnergy

EfficientD Dynamics

Each of the ov E verviews prov vided from the Efficient Technology sig gnify two ma purposes, ain lowering fuel consump ption and the amount of C 2 emitted from vehicle By focusing more on e CO es. g importan environmen issues, BM has been reviewed by many media outlets, as o of the mo nt ntal MW n y a one ost innovativ companies. ve .

Efficient Technologies Efficient Technologies Engines Four-Cylinder Petrol Six-Cylinder Petrol with Twin Turbo Overview Both of the petrol engines involve a high precision injection. This injection sprays a small amount of fuel onto the spark and combusts.

Four-Cylinder Diesel Six-Cylinder Diesel Four-Cylinder Diesel with Twin Turbo Auto Start Function

Uses piezo injection technology, which is proclaimed in Wards 10 Best Engine List of 2007 (AutoBlog). Sprays fuel directly into combustion chamber. Shuts off the engine when the car is in neutral or at a standstill. When the driver puts his foot onto the clutch, the engine immediately restarts. the generator is activated only when you take your foot from the accelerator or apply the brake. The kinetic energy that would otherwise go to waste is now used efficiently, converted into electricity by the generator and stored in the battery Electric motor only used when steering takes place while car is driving straight Car tells driver exactly when to shift to next gear Radiator is cooled only when it is needed Tires are not distorted when car is motioning through turns. They are maintained at the same level so energy is not lost.

Brake Energy Regeneration

Steering

Gear Shifter Air Vent Control Tires

Source: BMW Some ground-breaking Efficient Technologies include: engines, auto start function, brake energy regeneration, electric power steering, gear shift indicator, air vent control and tires with reduced rolling resistance.

Currently, Business Week ranks BMW as the number 16 most innovative company in the world. Technological advances like the ones in EfficientDynamics can only be accomplished through BMWs innovative atmosphere. This atmosphere is derived from the diverse minds of their employees. Each time BMW begins developing a car, the project team's members -- some 200 to 300 staffers from engineering, design, production, marketing, purchasing, and finance -- are relocated from their scattered locations to the auto maker's Research and Innovation Center, called FIZ, for up to three years (Business Week - Worlds Most Innovative Companies). This style of close communication in designing cars allows positive conflict to arise. For instance, when BMW was designing their Rolls Royce Phantom, this system allowed them to create a best-seller in the superluxury segment, outstripping both the Bentley Arnage and the Mercedes Maybach (Business Week - Innovation). These procedures are also administered whenever a new car is being created within the ActiveHybrid of Hydrogen 7 car lines. ActiveHybrid Since their first Hybrid creation in 1985, by their Research and Development team, BMW has strived to make a healthy and safe environment for the public. The ActiveHybrid lines main success is the V8 cylinder petrol engine and electric drive. Through the use of electricity and kinetic energy BMWs main goal is to produce up to twenty percent less fuel consumption and emission levels as well as provide the highest level dynamics compared with any similar vehicle (BMW). According to the Vehicle Certificate Agency, BMW has six cars ranking in Diesel cars with CO2 emissions below 120 g/km (the requirement for all cars in production given as a directive by the EU Commission EUROPA). Within this ranking, BMWs MINI Hatchback is ranked 5th behind Volkswagen, Seat and Ford (VAC). In addition, there are over 22 cars produced presently that are below 140 g/km of CO2 emissions (BMW). Make FORD SEAT VOLKSWAGEN VOLKSWAGEN MINI Model New Fiesta, 2009 Ibika Polo 3/5 Door Polo 3/5 Door MINI Hatchback Engine Capacity 1560 1422 1422 1442 1560 Transmission M5 M5 M5 M5 M6 CO2 98 99 99 99 104 Fuel Cost 808 830 830 830 851

Source: Vehicle Certification Agency

Cl leanEnergy CleanEnergy has also contr C h ributed to the well-being o the consum BMW an their Rese e of mer. nd earch and Deve elopment team has created a vehicle tha moves far b m d at beyond low C 2 emission The car th CO ns. hat BMW ha designed wi astronom as ith mically low em missions is the Hydrogen p e powered Hyd drogen 7 car. Pushing p the relian of oil, BM is the on major car maker to bri a hydroge past nce MW nly ing en-combustio on engine be eyond the pro ototype state (Gain). The T BMW Hy ydrogen 7 car has two mai liquid capa r in acities a gasol tank and a hydrogen t line d tank. A switch can be flipped to allow the car to run o either liqu hydrogen or gasoline. W on uid When burned d, hydrogen can produce power to a c so fast tha it can accele n e car at erate from zero to 60mph in about 10 seconds. The exhaust releases a vap of water into the atmo por osphere. This water vapor does contain s r n some nitr rous and carbon dioxide. H However, the CO2 emissio are far les than any of BMWs e ons ss f competito with the standard petr ors s roleum and d diesel engines (Gain).

Vario ousFuelEfficien ntVehicles

120 100 80 60 40 20 0 MW FordNe ew MINI Toyota BM Hydrogen Fiesta Hatchback Prius a 7 R56 Honda H Civic Hybrid H ART SMA fort two cou upe

EURequirementof 120g/k km(EUROPA)

Hy ydrogen Die esel Pe etrol

Sourc VCA ce:

There have been many rum regarding whether this car is actua safe for th customer, T mors ally he pointing o problems such as the l out s liquid hydrog gens highly fl flammable con ntent leaving the tank, as w g well as the hig cost of hyd gh drogen. BMW rebutted such criticisms by reinforcin that the H W ng Hydrogen 7 ca ars have senso to monito the possibi of a leak. Should this problem occu the hydro ors or ility . ur, ogen flow to t the engine wi automatica shut off. I addition, H ill ally In Hydrogen ma have high p ay prices at the m moment beca ause there is vi irtually no de emand. Howe ever, once pro oduction beg to increas BMW believes this cost will gins se, eventually deplete (Ga y ain). BMW will be issuing 100 H B Hydrogen 7 c next year. Even though many of th cars are so cars h hese oon to increas in producti this com se ion, mpany has alre eady begun im mproving their design. Th are in the hey process of making a hy f ydrogen-only combustion engine. This will only run on hydrogen rather than the y s n n half gasoline, half hydr rogen car now In addition, this engine would incre the cars power from w. e ease 35KW to 95KW. This is caused by the direct cryogenic inje o y ection process involved in the combusti s ion engine, gi iving 75 perce more pow to the veh (Gain). ent wer hicle BMWs main innovations c B come from th three bran he nches of Effici ientDynamic They cs. constantly evolve new innovations and always ar willing to c y re change. Crea ating world-w renowned wide innovatio and impro ons oving them ev day is a k aspect to BMWs succ very key cess.

FACT 2: BMW wins Best Factory Award 2008

BMWGroupInternalStructureandOperations

Success of all companies rely heavily on their internal operations, at BMW all internal factors must be integrated together in order to create a system worthy of the Best Factory Award. The Best Factory 2008 prize recognizes the production management of a factory. This prize was based on a questionnaire developed by academics at INSEAD and the WHU Otto Beisheim School of Management. The jury justified the award (to BMW) by citing the clearly defined strategy which has achieved a very high level of penetration across all levels of the organizational unit. This is evident from the high level of independent improvement management carried out by the workforce. (Zercustoms) Other indicators included outstanding performance in quality, time and costs of the company. BMW Group was the first automotive company to receive this award since 2002.
AtBMWGroupDesign,competitionandteamworkbelongtogether

One of the many motivators for employees of BMW is the friendly internal competition and open communication system the company utilizes. The tough internal competition in place at BMW Group Design stimulates designers to constantly push their individual limitations to ensure the best performance from all. BMW will assign several designers to work simultaneously on the same design model, creating a healthy combination of rivalry and teamwork in an extremely creative environment. Christoper E. Bangle, Head of BMW Group Design, works to motivate his colleagues through a mutual vision, stating that, individual freedom and teamwork do not contradict each otherour employees do not work for their own benefit, but for the benefit of the customer, the vehicle and the brand. BMW Groups methods of teamwork go above and beyond in a method they refer to as Collective Intelligence. In this the ideas of specialists in market research, aerodynamics, safety, ergonomics and series production compatibility are constantly incorporated into the ideas and developments in their designs. Just about everyone working for the Bavarian automaker, from the factory floor to the design studios to the marketing department, is encouraged to speak out. Ideas bubble up freely, and there is never a penalty for proposing a new way of doing things, no matter how outlandish. (Gail) BMWs principle of collaborative working with a flare of individualism has proven to be extremely successful for the company, creating diversity and creativity that is constantly surpassing their potential in all of their fields. In 2007, among many other Red Dot Awards, BMW Group was presented with the prize for Design Team of the Year.
ManagerialStructure

Unlike many German companies where management is set up in a top-down structure, BMW has a unique entrepreneurial culture in which there are very few hierarchical barriers preventing innovation. From the moment they set foot inside the company, workers are inculcated with a sense of place, history, and mission. The managers within the company understand their roles to be motivators who constantly push their employees to reach their full potential. One manager stated to Business Week that, the difference at BMW is that managers dont think we have all the right answersour job is to ask the right questions.

 Corpo orateCultur re

One O of the ma drivers of the BMW u any f unprecedented corporate c culture is the devotion and d enjoymen of all emplo nt oyees to their job and the company. In 1972, BMW implemente a labor pac r W ed ct based on p for performance unde which the c pay er company can distribute as much as one and a half n s e months e extra pay at th end of the year given th the compa meets fin he hat any nancial targets. This system m creates a h hyperflexible workforce w where it is very common th workers w voluntaril move to y hat will ly temporarily work on li far from home. This s ines system has als created a u so unique job sec curity for its employee a character es, ristic uncomm to many companies in todays economic state. W over mon y n With 200,000 a applications received annu r ually by the h human resour departme the idea o landing a j rces ent, of job at BMW is to many Germans what getting into Harvard is fo American high school s G t for students. (Business Week) BMW also has a unique approach to tra B s aining and promotion. It i common th upon is hat promotio employees may not rece training p se, but ins on eive per stead be moti ivated to lear in their ow rn wn ways, crea ating a humbl attitude t led toward promo otions. Empl loyees are mo otivated to perform throug gh new oppo ortunities for perfecting th skills and advancemen helping the heir d nt emselves and the company at y the same time. At BMW training is not conside a new em s ered mployee only t tradition; tra aining courses are s o es interest whic their career pertain to, including are like Vehic ch rs eas cle offered to all employee at areas of i Technolo and Produ ogy uction, Surfa finishing, Electronic an System En ace nd ngineering, In nformation Technolo and Finan Manage ogy, ncial ement and Se ervice At A BMW the approach to e employee pro omotion does not rely on s s seniority but instead is ba ased on a syste of goal ori em iented promo otion and bon nuses heightening the leve of work pro el oduced on an individua basis. The companys current CEO, N al c Norbert Reith hofer, worked his way thr rough the BM MW organization as an eng gineer, produc ction manage and technic director in Germany, S er cal n South Africa and Spartanbu South Carolina. urg, Flexibility
Organiz zationalCult tureAssessm ment

With its h harmonized workforce, in w nternal compe etition drivin ng innovatio detailed aw on, wareness to m market chang and flexibl ges le hierarcha structure, BMW persists to prove itse as a Best al B s elf Factory. T role of ea factor has given the co The ach s ompany a perf fect balance of freedom and structure.
Oper ratingasanOpenSystem m

Compan ny Culture e
Inter rnal facto ors

Innova ation
Externa l factors

Hierarchy

Mark ket Perform mance

BMW de emonstrates it understand of the ef ts ding fficiency in op pen Stability system op perations thro ough their ab bility to interc connect the operation throughout the compan Open syst ns ny. tems acknowl ledge systems beyond its own and often incorporate m many closed subsystems. T There are man divisions o ny of BMW op perating as sep parated organ nizations, BM automotives, motorcy MW ycles, financia services, etc al c., which are all still loose coupled w one anoth Such a sy e ely with her. ystem works t integrate v to various extern nal and intern inputs int the compa nal to anys technolo ogies and prev viously discu ussed social str ructure to me eet the companys goals on all levels an continue to output wor renowned products. n nd o rld d

FACT 3: BMW was ranked the highe level of s T W d est satisfaction for BMW 5 series an n W nd 1 the ower and As ssociates AP PEAL stud dy. Mini- Cooper in t J.D. Po
BMWCust tomerSatisfa action

ny b d hey nsistently plea their ase A compan can only be considered the best if th can effectively and con customers. At BMW, customer satisfaction is a top priority w which is achie eved through alignment o h of employee focusing on aspects abov their indiv es n ve vidual functio and busin units to stay focused o ons ness on their cust tomers and meet the comm goal of c m mon complete satis sfaction. Custom Satisfact mer tion APEAL A Award - Auto omotive Perfo ormance Exec cution and Layout This awar is based on over 81,000 owner surve responses. I is a measur rd n 0 ey It rement of ow satisfaction wner with their vehicles des r sign, content, layout and p performance. The 2009 m . models of the C Cooper Wag gon and Coop Hatchbac both receiv this prest per ck ved tigious award. This howev is not the M ver MINIs division first time of being a rec cipient of thi award, havi won an A is ing APEAL Award every year s d since 2002. J.D. Powe and Associ er iates also rank automobiles in Perform ks mance and De esign. The BM 3 Series and MW the 5 Seri received th highest rat ies he tings in this c category. Both vehicles are designed not only with sa h e t afety and efficiency in mind but also wit complete c d, th customer deli ight. With this in mind, both vehicles ar equipped w many lux features including the following: s re with xury BMW Assist: This includes an emergen call featur breakdown assistance re B ncy re, n equest, vehicl le lo ocation data, up to date tra informa affic ation, congest reports, a tion alternative ro suggestio oute ons, an navigation system. Thi ensures the driver not on a more re nd n is e nly elaxing, enjoy yable experien nce bu also one with increased safety and se ut w d ecurity.

J.D. Pow er and Associa ates is a global marketing inf formation serv ice firm which conducts sur veys of custom h mers in various categories incl luding custom satisfaction product qual mer n, lity and buyer behavior. The are best kno ey own for their cu ustomer satisf faction research in the autom h motive industry y.
1

Night Vision View: Using a high contrast image the driver can see objects in the cars direct path up to 300 meters away from the car. This provides the driver increased certainty when driving in unfamiliar places late at night adding even more value to the already well equipped car. Interior Luxury: Nappa leather, bamboo, aluminum, and 13 high quality speakers all in the cab of the cars add comfort and style to BMW. BMW ConnectedDrive: This feature gives customers the freedom of checking emails, traffic and asking direct enquiries all while sitting behind the wheel.

Our cars are tailor-made

-Norbert Reithofer, BMW CEO At BMW customization equals quality. Their market orientation is visibly customer based which is seen through the options involved when purchasing a BMW. Up until six days before a car is set to go into production changes by the customer can be made on everything from seat upholstery, engine type, to the color of the gear shift box. The ability for a customer to change their mind is a crucial part of satisfaction. 170,000 changes a month are made through the system creating more than a 1 million changes a year. The ability to change an order is made available on the most basic BMW models and in turn line assembly only turns out an identical car about once every nine months. With numbers like these, it is evident customers not only like choices when creating their own customized car but they also enjoy the flexibility to change their minds. This customization system has not only pleased customers but has actually become profitable to the company. Customer Satisfaction is also visible in other areas of BMW Follow up to sales includes supplying customers with BMW service center locations, online assistance, parts for your automobile and service and warranties BMW knows customer needs and meets them with various product branches ranging from golf, yachting, motorcycles, Formula 1 sponsorship and many other arenas BMW Financial Services was created to allow customers the freedom to choose the option which is best for them when purchasing a vehicle Any company can supply a product to customers but being able to exceed customer expectations while playing by their rules leads to unequivocal satisfaction. BMW has proven themselves for decades as understanding and surpassing customers needs while maintaining strong internal alignment. Employee Alignment In order for a company to integrate customer desires with appropriate business processes there is a requirement for employees to be not only aware of, but dedicated to pursuing above all else, the details that turn potential clients into loyal customers. This can only be achieved by producing employees who perform at a high level. BMW works hard to employ only the most skilled and driven individuals, not only increase company value but also give the individual opportunities to advance in their career, receive worldwide learning experiences, and instill a passion for their career. By doing this BMW assures a unified front when approaching the desire to give back to their customers.

Success = Knowledg Passion -BMWgroup.com ge BMW begins success in the initial application proces by choosin members of all stages in their B s e ss ng careers an hiring thos who will fu nd se urther attribu to the BM family. T provides not only the best ute MW This candidate but contrib es butes to a dive range of abilities and formal educa erse ation levels. T includes This profession graduate and studen Their app nals, es, nts. plications can be submitte for appren n ed nticeships, internship degree pro ps, ojects, doctor positions and full time positions. A rate s Allowing various starting positions allows the ne employee to be directly placed in th field of ex ew y heir xpertise /inte erest, making them more mot tivated and ca apable of crea ating quality work. This is one factor th creates a l s hat large interest in t working f the BMW Group. BM ranks num five in h for W MW mber hiring engineering graduat where the tes e majority o heavier ind of dustries cannot compete w the high tech emplo with h oyers pursuin those same ng e graduates This fact ca also be attr s. an ributed to BM MWs compet titive starting salary and tr g raining progr rams which con ntinue after the initial ent t trance in the c company. Vo ocational train is essent to the BM ning tial MW culture an is taken ve seriously in order to pr nd ery roduce the be products u est using the best minds. t By taking continued education very seriously tra g y aining occurs at all levels o the corpora structure s of ate giving opp portunities to continue learning from entry level un a career a BMW is co o ntil at omplete. This may s include: Vocational tra V aining up to m management qualification n Professional development a personali training p and ity programs thro ough one-on-one meetings s with w superiors s Training courses for moder T ration and wo orking techniques to creat a more effi te icient work ar rea an improve employee con nd e nfidence in th skills heir Training for project manag T p gement giving employees o g opportunities to broaden experience in s n le eadership pos sitions In ntercultural programs reac p ching far beyo normal l ond language train courses a immersin ning and ng em mployees full into a new culture while working wit their paren company ly e th nt BMW tra aining opport tunities have added appea to employee through of al es ffering trainin in location not ng ns only in G Germany but all across the globe. BMW now operate on four con a W es ntinents, 12 c countries and 23 d different l locations. Th locations range from G hese s Germany, the United Stat South Af e tes, frica, Japan, It taly and many other locatio giving em y ons mployees the f freedom to ex xperience BM culture o a worldwid MW on de horizon w while receivin the added k ng knowledge to improve the work and the company as a whole. o eir y

BMW realizes that in order to be competitive in todays professional world, employees must receive benefits. There are many normative advantages given to BMW employees as well as a few nontraditional ones. Employees are offered over 300 different flexible working hour schemes in order to fit their family and lifestyle Pension funds are given to all employees who are interested With the help of BMW Financial Services employees will be able to reasonably purchase, finance or lease their very own BMW or Mini-Cooper Wedding Cars (especially elegant members of the BMW family) may be used for employees and their immediate relatives

Maslows Hierarchy of Needs is fulfilled by BMW creating an environment where self actualization leads employees to fully align their focuses above all else with the common goal of creating the highest satisfaction of any luxury vehicle company.

1) Physiological Needs- BMW provides a job with compensation giving employees money to buy food, pay rent and survive on a day to day basis 2) Safety and Security Needs- BMW provides safe work environments in safe locations, through internal job promotion employees have increased job security 3) Belongingness and Love- Creating a company culture of support and encouragement through regular meetings with an individuals supervisor to discuss personal career goals the employee will become a member of the corporate family 4) Esteem Needs- Employees constantly receive new opportunities for training tailored to employees specific interest and increasing their skills. By knowing more they can not only produce a better product but will become a smarter and more confident individual 5) Self-Actualization-Once an employee has been fulfilled in the other factors regarding Maslows Hierarchy of Needs they will be able to self-actualize which not only makes them better but as more employees reach this stage, the company as a whole improves BMW is not only a leading producer of luxury vehicles but they are persistent that customers dont simply find the right BMW for them, rather create their dream car tailored to every specification possible to create an integration of safety, efficiency, and luxury. Through BMWs continual pursuit of customer satisfaction they work from the inside out. By creating an internal alignment through

employee who are ha selected f es and from various a areas of exper and cont rtise tinued trainin they will w ng work their way through com mplete satisfac ction with th hemselves and BMW. This creates a dri d s iven and focu used which can be channeled in giving customers what they want an what they deserve. nto nd attitude w FACT 4: BMW Gr roup is rated the most sust tainable automotive comp pany by SAM Groups la M atest ev valuation for the Dow Jones Sustaina r ability Indexe (DJSI). es
BMWGr roupSustainab bility

Being rated as the most sustainable auto B omotive comp pany will mak any compa stand out in ke any t the marke BMW has now received this Prestig award every year since th DJSI was established. et. s ge y he BWM Gr roup is the on company in its industr to win this award 9 year in a row. nly ry rs Sustainab bility: A com mpanys abili to achieve its business g ity goals and incr rease long-ter sharehold rm ders value by integrating ec conomic, envi ironmental a social opp and portunities in its busines strategies. nto ss Symposium o Sustainabil Profiles in Leadership NYC, Oct. 2001 on lity, p BMW Gr roup uses a su ustainability s strategy whic focuses on efficiency, pr ch roduct respon nsibility, cons stant conservat of resour tion rces, while con nsistently inc creasing the v value of the sh hareholders. BM Stocks MW

ar o lity, e t al s ny. For a clea indication of sustainabil one place to look is at the historica stock prices of a compan The value of the stock essentially m e k measures the v value of a com mpany. One m reason B main BMW has bee on en the DJSI for the past 9 years is that the value per share of BM r MWs stocks h consisten increased have ntly d. Over the past 10 years, BMW stock exchange pr k rices have nea tripled in value. The g arly n graph above a also shows how high BMW stock is co w Ws ompared to th average shown on the D he DAX, a Germ stock man

exchange consisting of the 30 major German companies trading on the Frankfurt Stock Exchange. Prime Automobile, an average index on multiple automobile companies, shows the average stock prices well below that of BMW.

BMW has shown that they have been able to persevere through a changing environmental since they were created A near death experience can be very beneficial to a company if they can get through it and come out on top. -Ward Roofthooft, Ph.D

BMWs fist major hit was in 1919, only 3 years after BMW was formed, when they had to stop the production of airplanes because of the Treaty of Versailles. For 2 years, from 1945 to 1947, BMW survived by producing pots, pans, and bicycles. Their manufacturing facility was also destroyed in WWII. BMW has survived two world wars, having their facilities destroyed in the latter of the two and were still able to bounce back and develop into the worlds most sustainable automotive company. Q: BMW has proven its ability to deal with changing environments over the years but will they be able to deal with the financial crisis? A: For now, the Munich-based company said it is sticking to its 2008 targets. While net profit for the three months through March 31 declined to 487 million Euros ($713 million), or 0.74 Euros a share, from 587 million Euros, or 0.90 euro a share, in the previous years first quarter, sales climbed 11% to 13.29 billion Euros. However, quarterly growth was held back by the weakness of the dollar against the Euro. "The financial crisis, rising raw-material prices and the further weakness of the dollar all had a negative impact on first-quarter group earnings," BMW Group Despite the darkening economy, the carmaker said it still expects to sell more cars from its three brands in 2008 than they had intended to sell in 2012. Only the future will tell if BMW will be able to once again adapt to the changing environment. BMW has been able to adapt to the push towards the new environmental movement. New vehicles now use less fuel than ever before as manufacturers make them lighter and more efficient. BMW is committed to not only producing cleaner vehicles, but also manufacturing the vehicles as clean and green as possible.

BMW has 70 full time employees who are working in the Environmental Affairs division of BMW group. At all BMW locations, environmental management systems are in place that exceeds legal minimum requirements to ensure absolute environmental protection. BMW was the first automobile producer worldwide to achieve FULL compliance with the European Eco-Management and Audit Scheme (EMAS II). 2 Environmental management has become a core business issue for many organizations. Organizations like BMW who participation is recognized as making strong commitments to the environment and to improving their economic competitiveness. BMWs ability to adapt to the changing environment has allowed them to be a step ahead of their competition and help improve the environments condition.

The total fuel consumption for BMW group cars has dropped by 26% over a 14 year period from 1990 to 2004 Because of what the BMW brand stands for, it has allowed the company to achieve its business goals and increase long-term shareholders value and conviction in the company. Each BMW Group brand has a clearly defined profile and value system called Brand Identity which specifies the typical characteristics of each of the BMW Group brands. This describes the way in which the brand aims to clearly differentiate itself from its competitors' image. Brand Identity is the guideline not only for product development but also for all customer relations activities. A brand means nothing unless the people recognize and believe in the name! A man who believes in BMW and what it stands for is BMWs Chairman of the Board, Helmut Panke. In 2003 Panke stated that, Our (BMWs) goal is to expand annual sales by 40% over the next five years, to 1.4 million cars, and beat out Mercedes-Benz as the No. 1 maker of premium cars in the world. We won't give up, and we don't rest on our laurels. We won't accept the position of No. 2." Obviously this goal seemed very unrealistic too many critics. How could a company increase annual sales by 40% in only 4 years? Not to the surprise of
2The aim of EMAS is to recognize and reward those organizations that voluntarily go beyond minimum legal compliance and continuously improve their environmental performance. www.iema.net/ems/emas

Panke, and the millions of owners of BMW, they were able to surpass this goal while also surpassing Mercedes in total sales. The group's vehicle sales in 2007 rose more than 9 percent from 2006 to 1.5 million units giving BMW a demanding lead to the 1,285,900 vehicles that Mercedes sold in 2007. Helmut Panke knew that based on the sustainability index BMW had the potential to do just that. The sustainable growth rate is, the maximum growth rate that a firm can sustain without having to increase financial leverage. The sustainable growth rate is a measure of how much a firm can grow without borrowing more money. After the firm has passed this rate, it must borrow funds from another source to facilitate growth. 2006 2007 Sustainable Growth Rate Sustainable Growth Rate Post Tax Pre Tax Post Tax Pre Tax ROE x b 0.000314 0.094212 ROE x b 0.000368 0.034354 1 - (ROE x 0.999686 0.905788 1 - (ROE x 0.999632 0.965646 b) b) SGA = 0.000314 0.104011 SGA = 0.000368 0.035577 Using the values of the BMW Group before taxation the company would sustain a growth of 10.4% from 2006 to 2007. - From 2006 to 2007 BMW Group Revenues have increased from 48,999 to 56,018 Euro million, or about 14.3% These numbers conclude that BMW is using a small amount of external equity financing. As long as this remains in a reasonable realm the company is able to safely grow without having to seek outside funding. FACT5:BMWhasincreasedtotalsalesofvehicles(includingbikes)overthe last5yearsby36.71%.
BMWMarketandFinancialLeadership

Over the past five years, deliveries for the four BMW brands have made impressive increases, with BMW Group recording a 38% increase since 2003 and Rolls-Royce almost tripling its deliveries in that time period, as shown in the figure below. BMW Group deliveries to customer 2003 2004 2005 2006 2007 % Change BMW 928,151 1,023,583 1,126,768 1,185,088 1,276,793 7.7 MINI 176,465 184,357 200,428 188,077 222,875 18.5 Rolls-Royce 300 792 796 805 1,010 25.5 Motorcycles 92,962 92,266 97,474 100,064 102,467 2.4

BMW Brand The BMW brand has continued to be the most successful premium car brand in the world with 1,276,793 BMW brand cars sold in 2007, a 7.7% increase for the brand, creating a new retail sales volume record and a number greater than any other premium brand automobile. Unit sales in 2007 for Mercedes-Benz and Audi were much less in comparison to BMW at 1,180,000 and 964,151 cars, respectively. For 2007 BMW 3 Series remains the brands most successful model with a total of 555,219 units of its Sedan, Touring, Coupe and Convertible models sold, a 9.2% increase from the previous year. MINI Brand From its introduction, the MINI Brand has been incessantly successful for the BMW Group. In 2007, 222,875 units were recorded for the MINI brand, 18.5% more than its first year sales volume. Rolls-Royce Brand A 25.5% increase in sales volume was seen for the Rolls-Royce brand in 2007 with 1,010 vehicles handed over to customers. BMW Motorcycles Despite divergent motorcycle sales from country to country, BMW Group has recorded a new sales volume of BMW motorcycles in 2007 with 102,467 units sold. Much of this sales increase was influenced by the introduction of the new models of G 650 X Series, which have been available since spring 2007. The following chart displays the sales volume increases for BMW motorcycles over the past five years.

In 2007 the BMW Group saw a cars sales volume increase in nearly all of its markets. In North America retail sales increased by 7.9%, with a huge contribution from sales increases in the United States, BMWs largest single market. At only 3.75% the sales increase for Audi in the same region was not even half of the increase recorded for BMW. Other notable growths for BMW include Italys first time surpassing the 100,000 mark with a 10.9% increase for the country. Spain and France also recorded impressive increases of 15.6% and 23.1% respectively. Overall, the number of cars sold in Europe increased by 10.0%. In comparison to BMWs remarkable worldwide sales increases, the increase in unit sales of Mercedes-Benz cars was only 3% for the year. 3 The following graph demonstrates these discussed growths.

3It

is important to note that while most markets did record significant growths, the country of Germany did contract by 9% in 2007. Despite this decrease in sales, the number of automobile deliveries by the BMW Group for the country only fell by

Financial Services The T BMW Fin nancial Servic segment h proven to be a strong c ces has o component in the Groups n su uccess. As sho on the balance sheet, the total business volume from Financ Services h own e cial has in ncreased by 16.5% to 51,257 Euros. At the end of 20 2,629,94 leases and f 007 49 finance contr racts were w in place with dealers a retail cust w and tomers. Of th number 44.7% represents new BMW his W Group vehicle leased or fin G es nanced throu the Finan Services segment. The following chart ugh ncial sh hows the incr rease in Grou financial co up ontracts over the past five years. r

1.5%, dropp ping from 285.3 thousand to 2 280.9 thousand. The decrease in private consum . n mption in Germ many can be par rtially explained b the value-add tax increase t took effect in Germany in the beginning o 2007. Interes by ded that t of stingly, the high hest increase in d deliveries, 18.3% was recorded in the market g %, d grouping of Res of Europe. Th following figu displays the st he ure BMW Group deliveries acr their marke for the past 5 years. ross ets

The Financial Services segment has also developed an international presence provided financial services to customers in over 50 markets, partially possible as a result of various acquisitions of financial service businesses across the globe. BMW Group acquired DEKRA SudLeasing Services GmbH, SimeLease (Malaysia) Sdn Bhd and its subsidiary SimeCredit (Malaysia), and CEC Finance Ltd in Hong Kong all within the month of April, 2007. They also set up a new company in Argentina in 2007 offering financing and insurance products to customers in South America, as well as arrangements set in place for the Czech Republic and Slovakia created in Poland, Hungary and India. The Financial Services segments largest line of business is found in its finance and lease business with retail customers. In 2007 new contracts amounting to euro 28,462 million were signed with the one million mark being surpassed for the first time in the company for new contracts in a single year at 1,086,493 contracts. The Financial Service segment in North America has also continued to stay strong through the credit crisis recently occurring in the United States, proving its resilience. In September 2008 BMW Financial Services of North America, LLC was ranked highest in all award categories in dealer satisfaction in the J.D. Power and Associates 2008 Dealer Financing Satisfaction StudySM. BMW Financial Services has earned the top ranking in the following four categories: Prime Retail Leasing, Prime Retail Credit, Floor Planning and Sub Prime Retail Credit. Edward A. Robinson, President and CEO of BMW Financial Services, America Region, stated that in a difficult business environment, when many leaders have abandoned all or segments of automotive finance business, we remain committed to providing a full complement of financial services to our dealer customers. Key Performance Figures The chart below focuses on two key performance indicators, Return on Capital Employed and Return on Assets, for BMW Group for the past five years.

Key performance indicators in % Return on Capital Employed Automobiles Motorcycles Return on Assets Financial Services BMW Group

2007

2006

2005

2004

2003

22.8 18.2

21.7 17.7

23.2 17.8

25.4 10.4

23.8 16.7

1.3 5.3

1.4 6.3

1.3 5.6

1.4 6.5

1.4 6.6

Return on Capital Employed is a ratio showing profit as a percentage of capital employed. BMW defines capital employed as operating assets less non-interest bearing liabilities. The ratio thus shows how much of their profit is gained from the companys assets while also considering its financing. In 2007, the Return on Capital Employed increased in both Automobiles and Motorcycles, representing the previously discussed sales increase in both sectors. This also indicates a more efficient use of company financing. The Return on Assets ratio computes the percentage of net income of a company to its total assets. This calculation can describe the companys ability to generate a profit from the assets they have with out any leverage. Although the ROA felt a slight decrease in the past year this financial indicator for BMW is still at an acceptable position for the company as other industry leaders, such as DaimlerChrysler and Toyota recorded lower ROAs at 3.7% and 2.96 respectively. Shown in the chart below is a comparison of equity ratios, another way to analyze a companys performance relative to their competitors. 4 BMW Group Audi Group Mercedes-Benz 2007 Equity Ratio 24.4% 37.0% 26.8% The Equity Ratio illustrates a companys equity in proportion to its total assets. The percentage calculated thus shows the amount of assets the company finances by stockholders and not creditors. It is to the stockholders benefit for the equity ratio to be low because financing done by creditors allows more financial leverage for the company. As shown above, in 2007 BMW Group recorded the lowest Equity Ratio, demonstrating that they finance their assets more through creditors compared to Audi Group and Mercedes-Benz who use more owners equity for financing. Earnings per Share and Price Earnings Ratio (in euro) BMW Group 2007 Earnings per share 4.78 2006 Earnings per share 4.38

Mercedes-Benz 3.83 3.66

As seen above, BMW Group increased the earnings per share from 2006 to 2007 while remaining higher than Mercedes-Benz both years.

is important to note that BMW Group is not a publicly sold company, making it often difficult to find industry and competitor comparisons for the company. The previous comparisons were calculated through extensive research of BMW Groups Annual Reports as well as those of their competitors.
4It

The price earnings ratio is defined as a proportion of price per share to earnings per share which can be used to explain how much investors are willing to pay per euro of a companys current earnings. At the end of 2007 BMWs stock closed at 36.80 euro. Dividing in the 2007 earnings per share of 4.78 euro it is found that BMW shares sell for 8.86 times their earnings. Therefore, an investor is willing to pay 8.86 euro per euro of BMWs earnings in 2007. This number is reflective of the publics confidence in BMWs ability to grow. Competitors such as MercedesBenz record a PE ratio of 6.0 and the European automobile industry average is currently 8.8. Marketing Strategies...How does BMW manage to constantly increase segment sales volumes? One of the many reasons BMW has continued to be successful in the sales of all of its brands is its ability to tactically market to their target markets. Like with any luxury product advertising must be carefully approached in order to retain perception of high quality as well as appeal to their consumers. For the past 33 years BMW has marketed their vehicles as The Ultimate Driving Machine, but despite their recent record sales BMWs research shows that in the U.S. last year a shocking 75% of luxury buyers arent even considering a Bimmer! But with their new U.S. ad agency, GSD&M of Austin, Texas, the company has no doubt that they will continue to be a market leader, in fact, analysts have been impressed thus far with their new company of ideas marketing campaign.
Anewapproachtomarketing

Veering away from their previous slogan, The Ultimate Driving Machine, which focuses on the horsepower and technical mechanics of their vehicles, BMW is now approaching their marketing strategies with ideas based on their unique and innovative designs, as well as their financial independence. One of their ads focuses on the organizational structure of the company, focusing on BMW employees answering only to BMW, pointing out that competitors like Mercedes-Benz report to Chrysler. In a campaign for their 7 Series flagship sedan they spotlighted its unique rear design. When it was criticized by journalists later in 2001 they replied with a headline that Not taking risks is risky. The rear design was later copied by bother Toyota and Mercedes. BMW has since continued to focus campaigns on the creativity of the company. Continuing with their concentration on design creativity their environmental innovations have given way to perfect campaigns. Environmental issues today are a major consideration for consumers and BMWs original designs and approaches to efficient dynamics provide great material for marketers. One of their green advertisements reads, According to our engineers, tailpipe water can be quite delicious, while flashing to a version of the BMW 7 Series that runs on liquid hydrogen and puts out zero emissions, were just waiting on the world to catch up. This is one of many ads that BMW has been able to successfully bring attention to their revolutionary designs. When it comes to advertising innovation the approach must be equally innovative and the marketers at BMW, along with their advertising agencies, have been able to successfully achieve just that thus far.

BMWGroupBestPracticeAnalysis So what qualifies BMW Group as a best practice case? On a very basic financial level, BMW consistently achieves the goal of financial management: maximizing the market value of existing owners equity. As illustrated by previously stated information, not only has BMW remained profitable, the consumer market has continually perceived BMW Group as extremely competitive and valuable. While being profitable in its self does not indicate success, growing profits must be accompanied by sustained growth within an ever expanding market. As previously exemplified BMW has continued sustained growth while neither suffering from burnout syndrome, nor becoming complacent and falling victim to premature aging. This successful sustained growth can be attributed to clear communication, vision, mission, and a well trained, highly motivated staff. Again, growth by itself does not indicate true success. So what other benchmarks may indicate BMW as a healthy company? As identified, in Anatomy of a Healthy Company, May 2007, by Aaron De Smet, Mark Loch, and Bill Schaninger, there are a number of attributes shared by all successful companies. Through analysis of resilience, execution, alignment, renewal, complementarity, we can establish a firm standing of success and health. Resilience is defined as, Spotting and managing key risks as well as setting up back up systems to get through difficult periods. BMW has established a trend of strong resilience, starting from their initial transition from aircraft to car, up through their recent transition from fuel combustion to hydrogen fuel cells. Furthermore even with the current economic crisis and historically high fuel prices, they have diversified their service portfolio such that they continue to thrive through some of the hardest times the automobile industry has ever faced. Resilience in the face of adversity is what sets apart champions from all the rest, and BMW more than steps up to such a challenge. In the words of Morgan, Intelligent organizations scan their environments and position themselves to deal with the challenges that lie ahead (Creative Organization Theory.1989) Execution is defined as the need to get the basics right, make good decisions, and perform essential tasks & distinctive capabilities; the ability to make sound and timely decisions, strong forecasting skills, and employees who understand their roles and responsibilities makes it clear that they get more than the basics right. This is further exemplified by the many industry awards they have received. They clearly have strong forecasting abilities, as they seem to surpass every objective goal they set. Their good decisions skills show through their success, their products, and their market position. BMWs training programs, staff recruitment, company culture, and top notch innovations combined rank an A+ in the category of execution. As stated by Lawrence& Lorsche in Organization and Environment, successful organizations seem to strike an optimum relationship between competing dimensions of organization and in order to maintain strong execution, BMW has done just that. Alignment is defined as a shared identity that rises above individuals, functions, and business units; by reflecting stakeholder concerns in corporate values; and by reinforcing the sense of common purpose with formal mechanisms. Out of any car within the luxury car sector BMW has the strongest grasp on alignment. While BMW is a pure brand, only producing high quality luxury automobiles, every other competitors brand is extremely diluted in comparison. Mercedes Benz produces industrial vans, buses, trucks, and economic version models for those who want Benz status without the Benz price tag. Furthermore theyre owned by Daimler Chrysler, lumping in all Chryslers and Jeeps, two brands that couldnt be further from luxury. Audi on the other hand doesnt fall as far off, but also

stoops to the same level with their extensive line of euro economic vehicles, which water down their high end gene pool. Shoe string competitors like Porsche focus primarily on power and handling, leaving comfort and luxury to the pros. BMWs sense of alignment is reinforced through their smooth structural, cultural, and political integration. Renewal is defined as the quality of those who invest in their future by expanding into wellchosen markets where existing assets and competencies provide real leverage, usually with the help of a winning formula that has been honed from experience and facilitates smooth integration across the entire value chain and the efficient extraction of synergies. BMWs renewal is proven over and over by their strong innovative nature, which has been previously discussed so thoroughly it need not be stated again. BMW knows just as well as Smet, Loch, and Schaninger, that change is positive- if you preserve your companys identity. Complimentarily is in essence when information flows across the organization, as well as from top to bottom, tapping into social networks beyond the formal organizational structure. (Aspirations for quality, management of suppliers, and capability-building and management systems all serve to reinforce the drive for steady improvement). This is most pointedly obvious within BMWs management structure in which each worker is empowered as much as possible and barriers to innovation are destroyed, creating one harmonious top to bottom flow of communication across the entire organization. As BMW scores high in each of these attributes, they undoubtedly are in a braced position, with their front foot forward. BMW is much more than a healthy company; they are a perfect example of a best practice case.

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 BMW Web Sites: BMW Education: http://www.bmweducation.co.uk/coFacts/view.asp?docID=46 BMW Group: http://www.bmwgroup.com Efficient Dynamics: http://www.bmw.com/com/en/insights/technology/efficient_dynamics/phase_2/introduction.html Motorcycles: http://www.bmwmotorcycles.com/bikes/history_content.jsp?d=1940&t=year&y=1945 New Vehicles: http://www.bmw.com/com/en/newvehicles/3series/sedan/2008/allfacts/design/html http://www.bmw.com/com/en/newvehicles/5series/sedan/2007/allfacts/design.htht Responsibility: www.bmwgroup.com/responsibility

Additional Websites: http://www.jdpower.com/autos/BMW/5-Series/2008/Sedan/ratings- JD Power.com http://www.time.com/time/magazine/article/0,9171,1640398-1,00.html http://www.businessweek.com/magazine/content/06_42/b4005072.htm http://www.bmwplant.co.za/Content/factsfigures/mapnetwork.gif http://www.autospies.com/news/Why-BMW-is-so-successful-and-those-other-brands-like-Audi-and-Merc-isstruggling-to-keep-up-7182/ http://www.bmwgroup.com/e/nav/index.html?http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/in vestor_relations/finanzberichte/geschaeftsberichte/2004/umwelt.shtml http://www.bmweducation.co.uk/coFacts/view.asp?docID=73 http://www.boeing.com/commercial/aeromagazine/aero_05/textonly/ps03txt.html http://germancarscene.com/2008/07/19/mini-exports-its-one-millionth-car/ http://www.carmagazine.co.uk/News/Search-Results/Industry-News/BMW-wins-2008-International-Engineof-the-Year/