International Business General Motors

7/28/2019 International Business General Motors

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D a n n y C o r n e l i aM a r i e k e M a r t e n s

Redo Group assignmentGeneral MotorsInternationalBusiness, General Motors


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IntroductionThis report is written as part of the International Business and Study Trip course

at Nyenrode Business Universiteit. The report researches theinternationalization process of General Motors Company by using theoretical

concepts taught in the lectures.

Company BackgroundIn 1908, General Motors Company was found by William C. Durant in Flint,

Michigan. Now General Motors has been in business for more than a century has

produced almost 450 million cars globally and these cars are available in

practically any country in the world. The current GM automotive brands are

Buick, Cadillac, Chevrolet, GMC, Holden, Opel, Vauxhall and Wuling. General

Motors is divided up in four main regions, which are GM North America (U.S.,

Canada and Mexico), GM Europe (Western and Central Europe), GM

International Operations (Asia-Pacific, Eastern Europe, Africa and the Middle

East) and GM South America (Brazil, Argentina, Colombia, Ecuador, Venezuela,

Brazil, Argentina, Colombia, Ecuador and Venezuela). Their vision is to design,

build and sell the best vehicles in the world.


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Table of Contents

Introduction ......................................................................................................................... 1

Company Background ....................................................................................................... 2

How Did General Motors Expand .................................................................................. 4Stages of international expansion ......................................................................................... 4So which Pathway did General Motors follow? ......................................................................... 5

Market selection and Modes of Entry .......................................................................... 7Modes of Entry .............................................................................................................................. 7

Export based modes .............................................................................................................................. 7Intermediate based mode ................................................................................................................... 7Hierarchical modes................................................................................................................................ 7

Factors deciding their mode of entry strategy .................................................................. 9

Eclectic approach ............................................................................................................. 11Ownership advantage........................................................................................................................ 11Locational advantages ....................................................................................................................... 11Internationalization advantages ................................................................................................... 12

Prahaladad & Doz ............................................................................................................ 13

Bibliography ...................................................................................................................... 15


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How Did General Motors ExpandStages of international expansion

In this chapter we discuss stages of international expansion of General Motors. In

describing the stages we use to the Uppsala model. A theory of how firms expand

to foreign markets. According tot this theory a firm takes a 4-step approach

before going abroad.

1) No regular export activities2) Export via independent representatives3) Establishment of a foreign sales subsidiary4) Foreign production/manufacturing units

In addition to this theory companies can decide to take the Organic pathway of

expanding to foreign markets, which is equal tot the Uppsala model. Or to take

the Born Global pathway. Trough the Organic pathway a company first starts

operating at his home market. Then it will start exporting activities in one

market in its near distant. And over time do exporting activities in another

foreign market. But it enters one market at a time, step by step. Via the Born

Global pathway a company starts exporting activities right away. It is serving its

home market simultaneously with other foreign markets. It does not apply a

step-by-step approach. The image below visualizes these different pathways.

Source: Adapted from Aijo et al. (2005), P


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So which Pathway did General Motors follow?

William Durant, the founder of General Motors, first wanted to call the company

the International Motor Company. He had this vision and great idea thatseveral

carmakers combined under one company would have more growth potential than

one brand on its own.(Pelfrey, 2011) Unfortunately this name was already

taken. He then named the company General Motors as it is now.

After he founded General Motors he immediately bought Oldsmobile, another

American car manufacturer. (Motors, Oldsmobile, 2011)

The first name that the founder wanted to use already suggests, that it was

always planned to be an international company. It was borne to be global.

The website of General Motors mentions that ever since the company exists they

were exporting cars to other countries. As well as they did advertising overseas.

(Motors, Beyond North America, 2011) Below you see an actual advertising,

which was used back then.

Source: Gmheritagecenter, 2008


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A year after launch Durant bought 50% shares of Oakland Motor Car Company.

(Bowman, 2011)

In 1925 General Motors bought the United Kingdom brand Vauxhall. (Motors,

Vauxhall, 2011) Since 1926 General Motors also have a sales and distributionnetwork and a manufacture in Australia. Together with Holden an Australian

company they merged and became General Motors Australia. (Motors, Holden,

2011)

About twenty years later, in 1929, General motors bought 80 percent stake of

German company that we all still know today as Opel. (Kim, 2009)

Years went by after GM acquired another foreign company. In the beginning of

the 70s General Motors bought 34.2 percent of Isuzu Motors Ltd. This is a

Japanese brand. Later GM sold this brand again. (Isuzu, 2012)


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Market selection and Modes of EntryModes of Entry

Many modes of entering a foreign country are acknowledged. You have:

Export based modesintermediate modesHierarchical modes

Export based modes

Export based modes are simply exporting the product or service overseas

without any interference of another company. This mode has low control, low

risk and high flexibility.

Intermediate based mode

Contractual modes, also known as intermediate modes, are entry modes, which

uses some kind of contractual partner or intermediate. Examples of this type of

entry mode are hiring an agent. An agent is an intermediary who acts as a

middleman for a specified or unspecified duration in the name of and on the

account and the risk of the principal, against payment that becomes due when an

agreement is entered into, and who is not sub-ordinate to the principal( Article 81

of the EC Treaty)

The agent knows the sales market. For this reason companies can get new

customers faster then when theyre on their own. Another example is licensing.

A company could license to another party to sell his product. Which gives him

the right to sell the (patented) product of the other company. Last example of

indirect exporting is franchising. This is basically using he complete business

model including the name and logos of another company. Best-known example is

Mc. Donalds. It is the exact same formula but there are many different other

owners. Intermediate modes of entry give shared control and risk and split

ownership.

Hierarchical modes

Hierarchical types of entries are closer to what General Motors had mainly done.

These are investment modes like buying another company or manufacturer.


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Looking at all the different types of entries that General Motors has done, we

notice that the most used form of entering a foreign market is by acquiring

shares of a company abroad. These types of entry give high control, have a higher

risk and have low flexibility.

Year Event happened Mode of entry

1908 GM founded in Flint, Michigan. -

1925 Owns factory and brand in Australia

(Holden)

Merger/Acquisition

1926 Acquired Vauxhall (UK) Acquisition

1929 GM buys 80 percent stake in

European Adam Opel AG.

Acquisition

1971 GM buys 34.2 percent of Isuzu

Motors Ltd. GM raises stake to 49percent in 1998 and later sells it.

Acquisition

1981 GM buys about 5 percent of Suzuki

Motor Corp. It raises the stake to 20

percent in 2000 and later sells all

but 3 percent.

Acquisition

1981 GM and Toyota Motor Corp form a

joint venture, known as NUMMI, to

build cars in Fremont, California.

Join venture

1986 GM acquires British sports car

maker Lotus. It sold Lotus in 1993.

Acquisition

1990 GM buys a 50 percent stake inSweden's Saab and purchases the

remaining half a decade later.

Acquisition

1999 GM buys 20 percent of Subaru

maker Fuji Heavy Industries Ltd. GM

later sells the entire stake.

Acquisition

2000 GM buys 20 % of Italy'sautomaker Fiat for $2.4 bln inGM stock. The deal includes a"put" option that gives Fiat SpAthe right to force GM to buy the

remainder of the Italianautomaker.

Acquisition

2002 GM signs deal to buy most ofDaewoo Motor Co.

Acquisition

Source (Kim, 2009)

Why General motors chose for his specific mode of entry could lie in the history

of the company and with the vision it was founded. As mentioned before

Durants vision was that several car manufactures under one roof could have


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more growth potential. This is probably the main reason for all the overseas

acquisitions. By purchasing shares they also enhance more overseas control.

Factors deciding their mode of entry strategy

Other possible factors that play a role in choosing a specific mode of entry, exists

out of 4 categories according to Hollensen (2007). These factors are:

Internal factors External factors Desired mode characteristics Transaction- specific factors

The list of factors is summed in the table below.

Internal factors deal with the internal factors of the company itself. Such as the

size of the firm, the employee skills, production process or whether they have

international experience or not. External factors consist of elements like the size

of the home market and its growth potential. General motors mentioned on their

website the following:

We continue to create and leverage strategic global partnerships to bring new

vehicles and technologies to customers faster.

As they mention that one of their strategic choices is to create global

partnerships. In their objective to bring new vehicles and technology to

customers faster, they can establish growth.

Acquiring international brands would extend their market size and would support

them to grow and even get rid of trade barriers.

Internal Factors External factors

Firms size Sociocultural distance between home & host country

International Experience Country risk / demand uncertainty

Product / Service Market size and growth

Direct and indirect trade barriers

Intensity of competition

Small number of relevant intermediaries available

Desired Mode

Characteristics

Transaction-specific factors

Risk Averse Tacit nature of know-how

Control Opportunistic behavior

Flexibility


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Internal factors deal with the internal factors of the company itself. Such as the

size of the firm, the employee skills, production process or whether they have

international experience or not. External factors consist of elements like the size

of the home market and its growth potential. General motors mentioned on their

website the following:

We continue to create and leverage strategic global partnerships to bring new

vehicles and technologies to customers faster.

As they mention that one of their strategic choices is to create global

partnerships. In their objective to bring new vehicles and technology to

customers faster, they can establish growth.

Acquiring international brands would extend their market size and would support

them to grow and even get rid of trade barriers.

Under the desired mode characteristics the outcome of the management decision

is reflected. Depending on if the person making the decision is risk avers, wants

to gain more control or wishes more flexibility. The choice of entry depends on

these characteristics.

Continuously acquiring foreign companies shows that General Motors is notavoiding risk. They want to gain more control.

As for transaction specific factors we can distinguish factors like gaining tacit

knowledge, a certain knowledge that not many others posses. For example

buying a company that posses a special knowledge that is useful for the

company.

The reason why General motors chose to buy Opel was,because of the quality of

its manufacturing network and its management and engineering team. And tostrengthen GMs position in the European. (Motors, 1929, Adam Opel

Corporation Joins the GM Family, 2011) This is a Transaction- specific factor in

practice.


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Eclectic approachIn 1981, John Dunning came up with a model in which he says that the success of

a company going abroad is dependent on the satisfaction of three types of

advantages. These advantages are the ownership advantages, location and

internationalization advantages (Dunning &Narula, 1996). GM is an automotive

company who has to deal with fierce competition and in order to gain

competitive advantage it has to be one step ahead of its competitors. This is not

only the case in terms of R&D but also in choosing the right locations for going

abroad. Below the advantages will be discussed of the country China.

Ownership advantage

General Motors has a globally focused strategy. China was attractive for GM

because of its large market size of 1.3 billion inhabitants. Since the 1920s GM

starting exporting vehicles to China, but it did not seem so profitable as expected.

Than GM discovered that the Chinese people had different tastes than the U.S. or

European population. GM solved this problem in 1997 by making an FDI in the

form of starting joint venture with SAIC to import, produce and sell cars of GM.

One year later the first production facility of GM already started operating in

China (Synergistics Limited, 2011). The joint venture with SAIC made it possible

for GM to take into account the tastes and needs of the chines population.

Especially for China GM and SAIC developed the car brand Baojun in order to

raise brand awareness in the country. The brand means treasured horse and the

price of its cars was aimed at $7000 (Ramsey, 2010). Next to the car brand GM is

creating another ownership advantage by applying two patents for two cars

within the Chevrolet brand.

Locational advantages

GM could have locational advantages in case of factor endowments being

profitable. GM build manufacturing plants for several reasons such as lower

wage rates, cheaper raw materials and cheaper energy. The minimum wage rates

in China can differ between different regions in China. In the poorer regions the

minimum wage level is $90 per month and in the richer regions, such as


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Shanghai, the minimum wage level can be $230 per month. These minimum

wage levels are by far lower than the minimum wage levels of the U.S.

(Bloomsberg, 2012). As a result of manufacturing plants in China distribution

will run smoother instead of exporting all automobiles from the US. Whenfocusing on resources, China is considered as the world leader in terms of gross

weight (Mbendi, 2012).

Internationalization advantages

GM has been creating lots of internationalization advantages. Firstly by

establishing a joint venture with SAIC. Later the second move of GM was building

its first production facility in China in 1998. And up until now there are in total 8manufacturing facilities in China. In 2007, GM invested in its first wholly owned

R&D facility that focused on the customization and global product design. One

step further was taken in 2009 by establishing its headquarter of GM

International Operations in Shangai. Less than a year later the Global Gm

Advance Technology Center in Shangai was build since the technology in China is

the most advanced in the world. Lastly in 2012, the Shangai Wuling platform

base for vans and small cars is launched. These last three events were done inorder to turn China into a Global for the sales and R&D of GM (Synergistics

Limited, 2011).


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Prahaladad & DozThe research done by Prahaladad and Doz focused on the international and

global expansion strategies of companies. They made a distinction between four

strategies:

Global strategy, is characterised by high cost pressure in order to competewith the completion and secondly the company only sells one type of

product e.g. Gucci and Rolls Royce

Transnational strategy, this strategy is usually carried out by theautomotive industry, which deals with reducing the costs and fulfilling

regional demands e.g. Toyota and HP

Multi-domestic strategy, companies who gain little from internationalactivities have this strategy e.g. Philips

International strategy, this adapts to companies who neither haveadvantages of local presence and a global strategy. These companies

mainly operate through export.

Below the model with all the four strategies can be seen and on which

characteristics there are based, which are the relevance of cost pressure and

local responsiveness (Lynch, 2003).

Figure: Different internationalization strategies of companies


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General Motors Company is spot on the largest industrial company in the world.

It produces cars and trucks in 31 countries and these cars and trucks are

available in 157 countries (Haidara, 2011). The automotive industry is an

industry with fierce competition between different car brands. Maintaining itscompetitive cost structure in order to remain profitable at lower industry is one

of the elements of GMs current strategy (GM annual report, 2011). As

mentioned above GM enjoys a locational advantage as the result of moving big

part of its business to China in order to reduce production costs. Also the local

responsiveness of GM is high. This is a result of the emerging economies of the

BRIC, such as Brazil Russia, India and China, where the costumers have different

needs and tastes than the US market. These emerging economies are responsible

for almost 40% of GMs unit sales. Therefore the segments GM South America

and GM International Operations were created in order to focus on these

markets (Haidara, 2011). In conclusion GM moved from a global strategy in the

past to a transnational strategy now.


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BibliographyBowman, B. (2011). Oakland Motor Car Company. Opgeroepen op november 6,2012, van General Motors Heritage Center:

http://history.gmheritagecenter.com/wiki/index.php/Oakland_Motor_Car_Company

D. (n.d.). Patent Applied: facelifted Chevrolet Epica for China |CarNewsChina.com - China Auto News. Car News China - China Auto News.Retrieved November 18, 2012, fromhttp://www.carnewschina.com/2012/09/07/patent-applied-facelifted-chevrolet-epica-for-china/

Dunning, J.H & Narula, R. (1996), The investment development path revisited,Routledge, pp. 1- 12

General Motors Co (GM) Company Profile | Reuters.com. (n.d.). Business &Financial News, Breaking US & International News | Reuters.com. RetrievedNovember 19, 2012, fromhttp://www.reuters.com/finance/stocks/companyProfile?symbol=GMGeneral Motors | About Our Company. (n.d.). General Motors | GM.com. RetrievedNovember 19, 2012, fromhttp://www.gm.com/company/aboutGM/our_company.html

General Motors 2012, Annual Report 2011, General motors, Michigan. RetrievedNovember 19, 2012 fromwww.gm.com/content/dam/.../2011_GM_Annual_Report.pdf

Iron Ore Mining in Asia - Overview. (n.d.). MBendi.com - the global informationresource for Business and Travel. Retrieved November 19, 2012, fromhttp://www.mbendi.com/indy/ming/iron/as/p0005.htm#10

Isuzu. (2012). GM-Isuzu Relations. Opgeroepen op november 12, 2012, van Isuzu:http://www.isuzu.co.jp/world/investor/fact/gm.html

Hessels, J., & Terjesen, S. (2010). Resource dependency and institutional theory

perspectives on direct and indirect export choices. Small Business Economics , 1-2.

Kim, S. (2009, may 29). TIMELINE: Key dates in General Motors' history.Opgeroepen op november 15, 2012, van Reuters.com:http://www.reuters.com/article/2009/05/29/us-gm-chronology-sb-idUSTRE54S5ZN20090529

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op november 12, 2012, van General Motors Heritage Center:http://history.gmheritagecenter.com/wiki/index.php/1929,_Adam_Opel_Corporation_Joins_the_GM_FamilyMotors, G. (2011). Beyond North America. Opgeroepen op november 6, 2012, vanGeneral Motors Heritage Center:http://history.gmheritagecenter.com/wiki/index.php/Oldsmobile

Motors, G. (2011). Holden. Opgeroepen op november 7, 2012, van GeneralMotors Heritage Center:http://history.gmheritagecenter.com/wiki/index.php/Holden

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