Speed and Sustainability When Entering New Market

When constructing a factory to enter new markets, the optimal size to respond to demand is determined by the construction time. Hyundai Motor Company (Hyundai), on the other hand, standardizes the size of its factories to speed up the entry and response to demand. The Hyundai’s entry mode, called SP...

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Autores principales:	Gwang Seok Kim, Young Hoon Lee
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	capacity expansion standardization speed sustainability Hyundai Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/88a859ec1d7f417e84233ffc9fc5f54a
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id	oai:doaj.org-article:88a859ec1d7f417e84233ffc9fc5f54a
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spelling	oai:doaj.org-article:88a859ec1d7f417e84233ffc9fc5f54a2021-11-25T19:01:12ZSpeed and Sustainability When Entering New Market10.3390/su1322124582071-1050https://doaj.org/article/88a859ec1d7f417e84233ffc9fc5f54a2021-11-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/22/12458https://doaj.org/toc/2071-1050When constructing a factory to enter new markets, the optimal size to respond to demand is determined by the construction time. Hyundai Motor Company (Hyundai), on the other hand, standardizes the size of its factories to speed up the entry and response to demand. The Hyundai’s entry mode, called SPEED, is modeled as a strategy. The strategy is evaluated of excellence with capacity expansion rules formalized, key parameters identified, and mathematical programming. The SPEED strategy is suited for market followers who want to enter a midscale or mature market in terms of business excellence and more sustainable throughout the factory’s life cycle on the side of sustainability. Shorter construction times, as a result of the SPEED strategy, can help to prevent environmental damage while also standardization can increase job prospects for local workers.Gwang Seok KimYoung Hoon LeeMDPI AGarticlecapacity expansionstandardizationspeedsustainabilityHyundaiEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 12458, p 12458 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	capacity expansion standardization speed sustainability Hyundai Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	capacity expansion standardization speed sustainability Hyundai Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Gwang Seok Kim Young Hoon Lee Speed and Sustainability When Entering New Market
description	When constructing a factory to enter new markets, the optimal size to respond to demand is determined by the construction time. Hyundai Motor Company (Hyundai), on the other hand, standardizes the size of its factories to speed up the entry and response to demand. The Hyundai’s entry mode, called SPEED, is modeled as a strategy. The strategy is evaluated of excellence with capacity expansion rules formalized, key parameters identified, and mathematical programming. The SPEED strategy is suited for market followers who want to enter a midscale or mature market in terms of business excellence and more sustainable throughout the factory’s life cycle on the side of sustainability. Shorter construction times, as a result of the SPEED strategy, can help to prevent environmental damage while also standardization can increase job prospects for local workers.
format	article
author	Gwang Seok Kim Young Hoon Lee
author_facet	Gwang Seok Kim Young Hoon Lee
author_sort	Gwang Seok Kim
title	Speed and Sustainability When Entering New Market
title_short	Speed and Sustainability When Entering New Market
title_full	Speed and Sustainability When Entering New Market
title_fullStr	Speed and Sustainability When Entering New Market
title_full_unstemmed	Speed and Sustainability When Entering New Market
title_sort	speed and sustainability when entering new market
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/88a859ec1d7f417e84233ffc9fc5f54a
work_keys_str_mv	AT gwangseokkim speedandsustainabilitywhenenteringnewmarket AT younghoonlee speedandsustainabilitywhenenteringnewmarket
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Speed and Sustainability When Entering New Market

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