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Customer preferences for their journey into the future of the automotive industry
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Resumo(s)
The automotive industry is currently experiencing the biggest
transformation in its history. Pressure from technological
disruption, the emergence of new competitors and changing
consumer demands require established OEMs to revise and
innovate their business models. This work project takes four deep
dives to investigate automotive innovation from an external and
internal perspective in the context of German premium OEMs.
Firstly, through collecting primary data on consumer preferences,
it discloses major trends in their changing demands and emphasizes
its driving force on the innovation process. As a further external
perspective, the influence of (alternative) M&A announcements on
the automotive OEM’s equity value is proposed to be examined by
means of an event study to shed light on the shareholders’
evaluation of external innovation. In contrast, the third section
looks at organizational innovation from the inside. By reviewing a
practical case, it elaborates on the importance of organizational
separation for corporate venturing to exploit existing capabilities to
prepare for future challenges. Lastly, it provides a real-world
example of corporate innovation by examining the case of
integrating circular practices in the product lifecycle. In a critical
comparison with recent literature, recommendations for such
transformations are drawn. Overall, this work project provides
insights into different sections of automotive OEMs and their
innovation processes to defend their position as industry leaders
Descrição
Palavras-chave
Automotive innovation Customer journey Future customer preferences Future generation