Hyundai Motor Company is a South Korean car maker. It is part of the Hyundai group of companies. The group was founded by Chung Ju-yung as a construction company in 1947.
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Hyundai Motor Company is the world' fourth largest auto maker. After the liberalization of the Indian economy, the company came to India to do business. The company soon became India's second largest car maker due to the success of its small car Santro. The company remained the second largest player in the industry for long. In February 2010, Tata Motors took back its second position in the market riding high on the record sales in January 2010.
Hyundai has been doing quite well in India for last some months. The company had recorded 41.60% growth in sales at 52, 635 units in January 2010. It sold 16,155 units in the same period a year ago.
Hyundai's products like Santro, i10 and i20 have seen great successes in the Indian car market. The compact car i10 was launched in India in 2007. The company launched a premium compact car i20 in India in December 2008. The car was first showcased at the Paris Motor Show in October 2008. The car also saw success in the Indian market. The compact car 10 has become the best selling model of Hyundai in India after surpassing the sales figures of another small car model Santro.
Hyundai Motors India had unveiled the electric version of its compact car i10 at the New Delhi Auto Expo held in India in January 2010. The car may be launched a year or two. Equipped with a 49kW motor, the car was fist showcased at the Frankfurt Auto Show in 2009.
Hyundai keeps launching new versions of its cars to keep the interest of car lovers intact in the cars of the company. The company launched LPG version of Santro, known as Santro Eco in 2008. The LPG version was priced slightly higher than the normal version. It came up with with separate petrol and LPG tanks and users had option to choose LPG or petrol mode.
Hyundai recently inaugurated a new dealership in Mumbai in February 2010. It was 46th dealership of the company in the Western region.
Inevitably, one of your job requirements might expect you to make decisions for your organization. When you rise up your career ladder you will find that you will be increasingly tasked to make decisions. Becoming a good decision maker will make you an asset to your organization.
Some of the decisions that you have to make may have a deep impact on your career as well as the lives of other people working with you. For instance, your company is suffering a financial crisis and the management team that you head has identified various causes for this crisis. To arrest this financial crisis you have been proposed with a solution that includes terminating thirty percent of your existing staff strength. Since you are the key decision maker you have the unenviable task of selecting those staff that you have to let go. How are you going to make that decision?
We sometimes pray that we do not find ourselves in such a dilemma. However, when tough situations arises only those who can make tough decisions will survive. So here are slotenmaker zoetermeer a few pointers on how you can become a good decision maker in your organization.
1. Understand the root cause of the situation
In order to make good decisions, it is important that you have a clear understanding of the root cause of the situation. The decision you make must be based on facts that you have and these facts must be verified and authenticated so that you are certain that the decision you are about to make is a rational and reasoned one. Remember the acronym CARF which means have you 'considered all relevant factors'.
2. Do not succumb to office politics
Making a good decision entails that you are not motivated by people in your office who may want you to make a decision which might be in their favour. It is quite common that when people start working together there will be a tendency to form little clicks. Each click will then begin to have its own sub-culture and its own unique way of doing things in the office. As a decision maker it is your duty to ensure that you remain apolitical and base your judgement on your effective understanding of the situation.
3. Don't be drawn into the 'Groupthink' mentality
'Groupthink' mentality is one whereby all the members of a group or team feel that they are invincible and whatever decision and action they take and make will not fail. Such a 'groupthink' situation comes about when the organization has been relatively successful in all their endeavours for a long while and there is an overall sense of well being and that 'everything is going to be fine' kind of attitude. Organization that falls prey to this kind of 'groupthink' mentality will find it difficult to make harsh decisions when the need arises and prefer to take a wait and see approach until things become worse.
You will notice the effect of 'groupthink' mentality when you are having meetings or group discussions and everyone seems to agree with everyone else. There is no dissention and no resistance to the proposal put forward by anyone in the group. Remember that there is no such thing as a best laid plan. Any decision that you make will have with it certain inherent flaws. The important thing is to objectively identify these flaws and if possible to either try to eliminate or at least minimize their effects. This can only be achieve if you are not drawn into a state of 'decision making invincibility' in that you feel that you and your team can make no wrong decision.
4. Successful Decision are those that can be translated into Action
Decision making is still relatively easier than the ability to translate the decision into action. To be an excellent decision maker you must also be the kind of person who takes action. Once you've made the decision you must give yourself a timeline for the implementation of the decision. You also have to engage in a review process to see how the decision has improved the situation.
5. Viewing failure as feedback for further refinement
There will be times when the decision that you've made does not quite turn out the way you want it. There is no guaranteed success formula in decision making. When you made a decision that failed what makes you an effective individual is your ability to assess the damage and review the situation to see how you could refine the decision again and put it into action. This certainly is not going to be an easy road. You will face obstacles and perhaps it might be a decision of tremendous magnitude that you have no second chance. However, take heed that if you've done your homework and have paid attention to the other pointers above, you most likely might not suffer a massive catastrophe. You may falter and perhaps sustain a few 'executive bruises' that will give you valuable feedback on how you could refine your decision.