Business Problems of Maruti Suzuki India Ltd. (Term Paper Sample)

Name
Research Report for Maruti Suzuki India Ltd
Institution
Course
Date
Final Research Report for Maruti Suzuki India Ltd
In this paper, I will review Maruti Suzuki India Ltd and the problem it has faced in the highly competitive automotive industry. The industry has achieved massive success in the field but struggles with product management and the selection of the right primary product for its market. With the dilemma of the primary product choice and the high competition from rivals, sales volume reduced leading to the beginning of the company's downfall. In this research project, the company's business problems such as limitations, stakeholders, theories, ethical issues, and bias as well as other organizations that have experienced the same problem. I will include the theoretical foundations of business problems, utilize ethical reasoning and present findings, conclusions, and give a necessary recommendation.
Business Problem
Research Problem
MSL has been a leader in the automotive industry in India since it began in 1983. The company's performance was great until it was faced with the dilemma of choosing the right primary product for its market. This a problem arising from poor product management. With competition in the automotive industry, consumers found other alternatives that better suited them than their rivals. The company's rivals such as Honda, Hyundai, and GM took over the market with products designed to fit the needs of their market. with the dilemma, in MSL the company lost its customers and lost its product market share. Several aspects of product management, including innovation, uniqueness, diversity, and marketing, caused Maruti Suzuki to lag behind its rivals. This resulted from poor product management, which is a factor in insufficient R&D. When competition outperformed public expectations, Maruti Suzuki was caught off guard since they had assumed that consumers would always be interested in their products. Because of the company's inadequate investment in R&D, it suffered greatly.
Due to the fact that MSIL handled its research and development in India, it lacked the funds to broaden its efforts. Tata Motors had design centers in India and Europe, in contrast to Hyundai, which created its automobiles in Korea (Mukherjee et al., 2015). Due to its narrow local emphasis, MSIL, therefore, had a significant disadvantage over its competitors. In terms of design, development, and modernization, Hyundai and Tata benefited from having facilities abroad. Maruti Suzuki made an effort to address this problem by focusing on the correct customer base and creating products with certain updated features, which helped to boost their sales once more.
Stakeholders
A joint venture between Suzuki Motor Corporation and the Indian government was created by Maruti Suzuki. Over time, Suzuki increased its stock to 56.21%, with the remaining ownership held by the government and banking organizations (Mukherjee et al., 2015). Only the stockholders are impacted by the lack of product management. MSIL's stakeholders are the first to feel the effects of the low return because, as was indicated in the article, the company was experiencing a drop in market share. Since they stand to gain or lose money from a decision, shareholders stand to benefit and lose the most. The company's customers are the next group; if their demands are not addressed, they will stop believing in MSIL. These customers may be entrusting MSIL with their entire life savings in order to purchase a vehicle. Due to the consumers' dissatisfaction with the product and the possibility that they may choose the rivals, this may have an impact on MSIL.
Research Objective
Finding the reason why product management is lacking in MSIL is the goal of this investigation. MSIL has struggled with this issue due to low profitability, slow expansion, and fierce competition from rivals like Hyundai, Tata, GM, and others. The study's goal is to identify areas where Maruti Suzuki can strengthen its product management practices and strengthen its position in the car sector. Likewise, to comprehend the company's failure and search for chances for growth and learning. Additionally, MSIL will benefit from this and be better equipped to advance its position within the car industry. An enhanced relationship with stakeholders as a result of superior product management will be advantageous to the business.
Ethical Issues
The researcher gathers preliminary data to develop a specific problem statement and to condense a broad problem area (Sekaran & Bougie, 2016). Information on human subjects would be kept private, and their rights to privacy and information security would not be violated. A consent form would be necessary before any research was conducted, and they would be totally free to decide whether or not to participate. They have the right to bodily and psychological protection if they agree to participate. They will be fully informed about the research's purpose and how their data will be utilized (Sekaran, 2016). A questionnaire and an interview will be the two main approaches used to conduct the study.
Literature Review
Theories
MSIL product management theories can be explained by a variety of factors. According to the researchers' theory, which is presented by Siew Meng Leong and Kian Guan Lim, ideas in the candidates who could be used in the product management field come from the financial sector. More specifically, it will provide a multiperiod portfolio architecture that incorporates marketing-related Product management factors to consider. The idea is that they wish to focus on a different aspect of the issue in order to ignore the main one. In their case, a financial corporation. All of the business's local attention will be drawn to this. As they attempt to address the issue, they want the public to observe what they are doing the thing. In this instance, Maruti Suzuki may highlight its stellar reputation and continue to focus on product management while continuing to build it and show the public that. According to this hypothesis, the business will remain at the top of the Indian market instead of being at the bottom. automobile sector. One of the main concerns, according to Pamela Schure and Brian Lawley, is