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STRATEGIC MANAGEMENT FINAL PROJECT GENERAL MOTORS MGMT 659 SPRING 2011 Dr.

Norman Irish

Carl Johnson

MGMT 659 SPRING 2011

Page 1

The Auto industry today remains one of America’s top employers with 1 out of 10 American individuals working in the industry and while the drop in auto sales has affected GM’s bottom-line.” “We will earn our customers’ enthusiasm through continuous improvement driven by integrity. GM has produced nearly 450 million vehicles globally. the US remains GM’s largest single market. and share their vision of the new and improved GM to Americans and the entire world. foreign and domestic have declined by more than 30% which is the largest decline in 50 years. While over the years GM has enjoyed rapidly growing sales and revenues outside the United States. GM is dedicated to provide products and services of such quality that our customers will receive superior value while their employees and business partners will share in the success and the stockholders will receive a sustained superior return on their investment. But due to the recent economic downturn. teamwork and innovation of GM people.” GM’s vision “is to be the world leader in transportation products and related services. it has also affected the livelihood of the people GM employ as well. produces and markets cars. Internal Issues The recent economic conditions have shown that at GM the status quo is no longer enough to remain America’s top automobile brand. It is through the rebuilding and strengthening of GM’s core business that they can successfully expand not only domestically but multinationally. These major economic shifts demand a fundamental change in the way GM does business. trucks and parts worldwide. GM must also appeal to the modern day environmentally friendly and economical American citizen in order to regain the trust and confidence GM once enjoyed.Background General Motors Corporation has been in business for 100 years.” GM’s vision is also a streamlined brand that represents quality and fuel efficiency through innovative design with utmost respect for quality. The recent crisis has forced GM to look into the future of the automobile industry and contemplate what place GM will have in the evolving automobile market. GM also provides automotive financing services through General Motors Financial Company. and operates in virtually every country in the world. GM’s mission “is to be a multinational corporation engaged in socially responsible operations worldwide. US auto sales across all manufacturers and specifically as it relates to GM. GM develops. Carl Johnson MGMT 659 SPRING 2011 Page 2 .

Chief Accounting Officer Vice President. Thomas Stephens is Vice Chairman of the Board and Global Chief Technology Officer (2011) and Stephen Girsky is also Vice Chairman of the Board. Their portfolio responsibilities are specified below. Global Chief Marketing Officer Vice President & President – South America Vice President – Global Communications Vice President & President – International Operations Vice President & President – Europe Vice President & President – North America Independent Lead Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director Independent Director MGMT 659 SPRING 2011 2011 2011 2011 2009 2009 2011 2010 2010 2009 2009 2009 2010 2009 2009 2009 2009 2009 2009 2009 Page 3 . There are eleven (11) vice presidents and nine (9) Independent Directors. Neville Isdell Robert Krebs Philip Laskawny Kathryn Marinello Carol Stephenson Carl Johnson Chief Financial Officer.Organizational Structure GM's organizational structure is shown below. Daniel Akerson is the Chairman of the Board and he has direct control of the company CEO since 2011. Senior Vice President Senior Vice President. Global Product Development Vice President. Chief Information Officer Vice President. General Counsel Senior Vice President. Daniel Ammann Michael Millikin Mary Barra Nicholas Cyprus Terry Kline Joel Ewanick Jaime Ardila Selim Bingol Timothy Lee David Reilly Mark Reuss Patricia Russo David Bonderman Erroll Davis E.

It is important to note that GM's Total Revenue has been steadily declining for the years 2007 – 2009 but is showing signs of increase in 2010.00 138.560.039.00 136.00 5.00 102.525.00 16.898.659.737.091.592. Gross Profits was positive in 2007 but showed a decline in 2008 and 2009 and again showed increase in 2010.608.00 36.00 104.00 138.00 75.00 5.00 GM Consolidated Balance Statement 2007 – 2010 (in $ millions) 2010 Assets Total Current Assets Total Assets Liabilities and Shareholders' Equity Total Current Liabilities Total Liabilities Total Equity Total Liabilities & Shareholders’ Equity 47.00 -38.267.295.172.00 -85.021.247.295.00 91.00 44.00 -43.280.00 0 0 0 0 53.943.979.00 104.309.589.00 -29.00 -43.542.00 148.237.00 59.479.00 52.718.00 176.943.00 104.00 -31.00 108.209.039.247.943.435.187.00 0 0 2009 2008 2007 Carl Johnson MGMT 659 SPRING 2011 Page 4 .821.00 6.471.493.346.Finance GM's consolidated financial statements for the past three years are shown below.079.821.00 179.048.984.00 91.00 -8.00 5.00 136.00 105.00 -30.00 28.00 -6.898.00 -4.180.00 -21.00 102.00 -30.00 -1.00 104.599.00 6. GM Consolidated Income Statement 2007 – 2010 (in $ millions) 2010 2009 2008 2007 Total Revenue Gross Profit Operating Income Income Before Tax Income After Tax Net Income Before Extra.157. Items Net Income 135.172.00 12.065.053.

and accessories for vehicle customization. A synopsis of each of GM’s competitor is shown below. options. and commercial vehicles. Michigan. commercial fleet customers. GM is now using stimulus money from the government to restructure the company. Automotive and Financial Services. retail leasing. A summary of financial comparison is shown below. and insurance. manufactures. wholesale financing products that comprise loans to dealers to finance the purchase of vehicle inventory. Honda is also a strong rival of GM. Japan. Toyota Motor Corporation designs. FJ Cruiser. leasing companies. mini-vehicles. and sells passenger cars. purchase real estate dealership. Ford Motor Company primarily develops. It also sells cars and trucks to dealers for sale to fleet customers. and parts through retail dealers in North America. assembles. and services vehicles and parts worldwide. Chrysler sold its GEM (Global Electric Motor Cars) to Polaris in mid-2011. passenger vehicles. as well as Dodge. Jeep. Highlander. wholesale financing.000 parts. Along with that. sport-utility vehicles under the Sequoia. carries almost 300. as well as provides insurance services. it will also produce smaller Chrysler-brand cars based on Fiat design and technology. loans to dealers to finance working capital. trucks. Chrysler hopes its crisis remains in its rearview mirror. minivans. This sector markets cars. Ford Motor Company was founded in 1903 and is based in Dearborn. and other financing products. The company also provides hybrid cars under Prius and Crown brands. Chrysler's trademarked MOPAR (Motor Parts) division.Competitors GM's top competitors are Ford Motor Company. and/or make improvements to dealership facilities. GM and other auto companies are developing electric cars as a means of gaining market share in hopes that it will boost the bottom line and jumpstart GM’s plan to remain the number one automaker in the world. In addition. It operates in two sectors. With the recent downturn of the auto industry in the US with companies such as GM and Chrysler filing for bankruptcy. and governments. and through distributors and dealers outside of North America. The Automotive sector offers vehicles primarily under the Ford and Lincoln brand names. Toyota Motor Corporation and Chrysler Group LLC. manufactures. It offers conventional engine vehicles. mid-size cars under the Camry. including daily rental car companies. distributes. which includes retail installment contracts for new and used vehicles. and Land Cruiser brands. The company was founded in 1933 and is headquartered in Toyota City. Toyota offers a range of financial services comprising retail financing. and Ram vehicles. The Financial Services sector offers various automotive financing products to and through automotive dealers. and auto parts under Toyota brand name. sports cars under the Scion tC and Lexus brands. it is expanding to incorporate Fiat parts. commercial vehicles. pickup trucks under the Tacoma and Tundra brands. RAV4. 4Runner. with its 30% industry market share. Chrysler continues to manufacture its Chrysler brands. 1925 Carl Johnson MGMT 659 SPRING 2011 Page 5 . luxury cars under the Lexus and Crown brands. It offers retail financing. and credit cards and housing loans. The company has engineered an automotive resurrection by choosing a back-to-basics alliance with Fiat. direct financing leases. The company was founded by Walter Chrysler on June 6.

Worldwide Presence – GM’s international presence is well known with factories in Poland. Spain. Carl Johnson MGMT 659 SPRING 2011 Page 6 . Brazil.56 Industry 17. trucks and automobiles.79B 205.24% 6. the General Motors Brand is well rooted not only in America but throughout the world.06B 3.18 7.18% 7.72B 7.95B1 N/A N/A N/A -652. Colombia.00% 140.21% N/A 3. Germany.231 N/A 41.34B 4.70% 64.47 0.GM Direct Competitor Comparison GM Chrysler Market Cap: Employees: Qtrly Rev Growth (yoy): Revenue (ttm): Gross Margin (ttm): EBITDA (ttm): Operating Margin (ttm): Net Income (ttm): EPS (ttm): P/E (ttm): PEG (5 yr expected): P/S (ttm): 46.36B 2. South Korea.95B 4.52% 20. As such.97 0. Australia. it also has assembly.83 0.41 Toyota 132.14 1. GM is even in Viet Nam. General Motors has also engaged in finance and insurance.02B 164. cash flows.50B 16. To survive.02% 9.05B 96.716 -12. Belgium.90% 130. Pontiac Cadillac and Buick which have become household names in the U. has also made concessions. and Thailand.24B 12. China.GM has produced a stable of automobiles such as Chevrolet. Argentina.000 4.33 N/A 516.66% 12.000 15.83 0.07 0. financial condition and operations. so goes the nation”. most recently the global recession has had a devastating impact on its.05B 4.52 N/A N/A N/A N/A External Environment General Motors is an omnipresent company in the United States. South Africa Ecuador. Sweden.07B 20. a company so essential to the overall health of the U. STRENGTHS   Branding . However.31B 12.77 7. Long known for the manufacturing of cars.S.10% 235.12B 317. office and warehousing operations in 55 other countries.68 0. the company has had to accept a government bailout plan and its employees the United Autoworkers of America.04K 7.22 7. Russia.S economy that it spawned the phrase “as GM goes. manufacturing.22 26.01% 14. Egypt. A swot analysis of GM is listed below. and in addition.00M 1 Ford 53. distribution.89 0.03B 1.47% 5.

000 dealerships market for closure.S. as recent as May of 2009 plans called for an anywhere from 40 to 200 closures. Carl Johnson MGMT 659 SPRING 2011 Page 7 . The market's volume is expected to rise to 21. 2008. Fitch Ratings DBRS and Standard & Poors evaluate GM.8% to $32.000 units in 2009 and estimated to reach 4.8% of the total revenues and its revenues decreased 8. Research and development. GMC Yukon Hybrid as well as a Cadillac Escalade Hybrid.938 million. A sign that India will play an even bigger is the projected increase to 2. Rising Demand for Hybrid Vehicles . Other business segments experiencing declines include GMNA which fell 23.WEAKNESSES     Diminishing Dealer Network – During the bankruptcy.Steady growth rates are projected in the next few years.1% of overall value.GM has experienced a reduction in liquidity to $14 billion in FY2008 from $27.8 million units. Inadequate Performance among Some Business Segments . for both cars and trucks.In 2008 the GME segment accounted to 21. and GMAP which stood at $12.Four independent credit rating agencies assess GMs debt ratings and ability to pay interest. In China the market for new cars is in the midst of a 14% growth rate projected to reach over $97 billion in 2008. OPPORTUNITIES    Growth Potential in India and China . Insufficient Liquidity . Moodys Investor Service.5 million units by the end of 2013.5% in 2008 to a dollar value of $28 billion.5 million units by the end of 2013. dealerships.There are positive projects for GM business in China and India. GM’s has compiled a list of more than 1. It is anticipated that GM will produce up to nine hybrid models following the introduction of the Chevrolet Silverado Hybrid and GMC Sierra Hybrid. The light commercial vehicles segment was the market’s largest in 2008. As of 2008. GM also announced that it will not renew its franchise agreements with nearly one quarter of its U. Chevrolet Malibu and Tahoe Hybrids. It is expected to rise to 800.9% to $82. the market for new cars grew by 15.3 billion in 2007. a decline of 15%. The company is also investing in hybrid and plug-in vehicles. a positive outlook for light hybrid electric vehicles and plug-in vehicles market would boost the demand for GM’s products. Meanwhile in India.440 million. as well as relationships with suppliers are negatively affected by the reduced liquidity. Increased Global Truck Market . International demand for light hybrid electric vehicles (HEVs) is expected to increase. As of December 31. dividends and principal on securities. Therefore.477 million for FY 2008. GM had 715 dealerships in Canada.General Motors produces six hybrid models in the US including the Saturn Vue and Aura Hybrids.5 million units in 2013. Low Debt Ratings . all four had downgraded their assessment ratings for GM. generating total volumes of 9. Losses are attributed to lower sales volumes and a reduction in working capital. equivalent to 58.

Weakness in Global Automobile Industry . Honda Motor. Other brands such as Saab. Italy down 13. 8. Western Europe and Japan. GM Strategic Plan GM’s strategic plan will focus on five (5) areas.THREATS    The Continuing Global Recession . Daimler. In total. The Japanese car market also declined. which had been GM’s most profitable products.4% fewer automobiles were sold in Western Europe. Saab and Saturn sales lag behind throughout the board and introducing new models and re-branding of these franchises this late in the game would only push GM’s breakeven point further rather than having a positive impact on the bottom line. Fuel Efficiency. Cadillac and Buick will remain at the core of GM’s business plan. the economic climate has resulted in tighter credit markets making it harder for consumers to finance automobile purchases.GMs financial status makes it vulnerable to fierce competition from fits such as AB Volvo. In addition.8%) and France 0. Toyota Motor and Volkswagen. Hyundai Motor. Saturn and Hummer will either be sold or closed. Brand Re-structuring.Dire predictions for the global economy were realized in 2009 and stalled economic growth continued into 2010. Chevrolet.1%.3%. providing subsidized financing or leasing programs in order to sell more vehicles. Nissan Motor. Emerging Markets and Marketing and Promotions Brand Re-Structuring Over the next five years GM will be focusing on restructuring of their brand while focusing on their core business. Mazda Motor. Fiat Group Automobiles. Many have responded to the crises by adding vehicle enhancements.4% and the UK down 11. including full size pickup trucks and sport utility vehicles. Germany declined 1. Ford Motor. Isuzu Motors. Cost Cutting. Intense competition . with a drop in sales of nearly 4% in 2008. Hummer doesn't fit with GM's strategy of fuel efficiency and sustainability but only promotes a lifestyle of excess that doesn't promote the green initiative. The economic decline reduced consumer demand for less fuel efficient vehicles. Saturn and Hummer was based on sales statistics that are lagging in the domestic market. other marketing incentives and are reducing vehicle prices in certain markets. Carl Johnson MGMT 659 SPRING 2011 Page 8 . They are also offering option package discounts.7% also experienced downward trend in the second half of 2008. The Western European automobile markets suffered as well particularly the volume markets of Spain down 28. The decision to sell Saab.Consumer Requirements for commercial vehicles declined in the NAFTA region. These actions are expected to have a negative effect on GM’s vehicle pricing. market share and operating results particularly on the low end of the market. Although the brand is still profitable today its viability for the future is in question.

Grand Prix and Grand Am. over 3 Billion People will be between 15 and 44 in 2020. This statistic emphasizes the need to recognize the needs of today’s youth and cater that need through vehicles with options and features that appeal to that market. And in the next five years GM plan to increase their fuel efficiency capabilities through our Flex-Fueled cars. G6. With this brand restructuring. Pontiac will fill this market niche and will cater to the increasing youth demographic offering entry to mid level vehicles Such as the G5. Plan 2013 38 28 25 50% 18 75% 2000 Car Fleet Average (MPG) Truck Fleet Average (MPG) Models >30 mpg Flex-Fuel (% of US Sales) Hybrid Models Car/Crossover Nameplates 27. But over the past five years GM have more than doubled their models that can average 30mpg or more. Plan 2013 40 4500 2000 Total Nameplates GM Dealer Count 51 8138 2004 63 7497 2008 48 6450 Fuel Efficiency Scientific research on the effects of global warming and green technology has pushed industries across the board. hybrid and FLEX fueled automobiles. there will also be a significant number of GM dealer closings to further reflect cost cutting initiatives. Coupled with the average price of oil spiking over recent years fuel efficiency and environmentally conscious automobiles have been top priority for consumers. This will effectively reduce the number of SKU's thereby reducing manufacturing and overhead costs.8 8 6% 2 52% 2008 31.6 20 17% 6 65% Carl Johnson MGMT 659 SPRING 2011 Page 9 .6 24. This new environmental initiative isn't only forcing industry to evolve but the consumer as well. According to GM’s projections about 50% of the GM cars on the road will be Flex-Fueled. Many foreign brands have been industry leaders in fuel efficiency and GM has been forced to play catch up. including GM to become more sustainable and environmentally friendly in their practices. This is reflected throughout the automobile industry with new product lines that offer fuel efficient choices to consumers including electric.The youth demographic is increasing rapidly.7 21 8 2% 0 61% 2004 29 21. See chart below. The table below shows GM’s plan to increase fuel efficiency through 2013.

GM executives will be asked to take pay cuts. The Indian government supports a comprehensive system that will rapidly increase growth in the industry with the creation of the Automotive Mission Plan (AMP) and the Automotive Testing and R&D infrastructure project (NATRIP). With the sale of these brands will bring about many dealership closings that will be another cost reduction opportunity. To do so. In our current economic condition the taxpayers are bearing much of the financial burden and a reassuring effort on the part of GM may go a long way in regaining its market share and consumer trust in the United States. Conclusion The General Motors strategy is to position itself in emerging markets so that the company will grow simultaneously with the economy. But this is not enough to offset the lack liquidity and self sufficiency that General Motors currently faces. Emerging Markets Emerging markets such as China. Meanwhile the Chinese government is loosening financing restrictions in the automotive industry and allowing automotive dealers to create their own financing structures.Cost Cutting Through the reduction of GM brands and models GM can gain significant cost savings. Marketing and Promotion GM must re-establish itself as America's brand. India and Eastern Europe are increasing their buying power per capita therefore increasing their demand for automobiles.000 plus incentives will be implemented with the opportunity for increases based on key performance indicators. Commercials and advertisements in the US must promote this sentiment while also emphasizing the developments in sustainability and fuel efficiency. Carl Johnson MGMT 659 SPRING 2011 Page 10 . GM is also needs to stretch its manufacturing capacity to produce products that will cater to buyers in different markets. GM is still trying hard to restructure its finances in North America and therefore needs to invest in emerging markets in order to keep up with the rest of the other automakers. Throughout this marketing effort GM should be forthcoming with the American people about its plans for change perhaps even sharing specific strategies in restructuring and expanding its business. Upper level executive pay in the tens of millions of dollars plus stock options and bonuses will be a thing of the past. In order to capitalize on this global effort GM will establish manufacturing facilities which will not only create jobs in these countries but also establish favorable relationships with their governments. A maximum salary cap of $500. There needs to a reduction in salary expense at GM as well. A more modest compensation model will to be adopted. These rapidly expanding countries present an opportunity for GM to expand their global brand and become the center of these new markets.

edu/nortonm/coursework/GM_Business_Plan.300 for its 4500 union workers.com/research/report. References 1.reuters.asp?ticker 4.businessweek.nytimes.com/finance/stock/companyOfficers?symbol=GM&WTmodL OC 7. the automaker is proving that it can be profitable at a lower sales volume which resulted in profit-sharing checks in 2011 averaging $4.com/swot/general-motors-swot.com/travel_guide/51055/cars/general_motors_growth 6. Hourly labor costs were cut by more than two-thirds from $16 billion in 2005 to $5 billion in 2010. the new GM is smaller and leaner.zacks. http://investing. General Motors http://topics.pdf Carl Johnson MGMT 659 SPRING 2011 Page 11 . Brands like Saturn. Hummer and Pontiac were shutdown or sold.html 2. General Motors Growth Strategy http://streetdirectory.With GMs bankruptcy complete in July 2009.wit.com/top/news/business/companies/general_motors_corp oration 5.com/research/stocks/people/board.marketingteacher. Based on GM’s new strategy. SWOT Analysis General Motors http://www. General Motors Business Strategy myweb. http://www.php?type=industry 3. http://www.

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