Technology and Innovation 1. The automobile industry in the US witnessed quite a loss during 2008-10. The increase in prices of the fuels stopped people from buying normal and sports cars. Increased fuel prices were getting unbearable for the people and they failed to purchase liters for the vehicles. This made big companies launch fuel-efficient cars to attract customers as the car companies were incurring severe losses (McLarney & Cam, 2003). This made foreign companies gain profits when the US market was hit badly. They were able to earn more than ever using several techniques. The economy of the country got affected badly and the big car companies decided to get loans for them to survive in this market and continue to have their hold. Other countries were also affected at this time however; the US was the only country to suffer this situation. This made the foreign companies try to take over the market. They wanted to have held so that they can build their own fuel-efficient vehicles, which the US started with but failed to continue at this crisis. Lack of technological innovation was also considered a reason for not being able to cope. Again, in the year 2020, the vehicle industry suffered something worse than the 2008-10 disaster. The covid-19 made people stop using cars and sit at home because of the virus attacking if people went out to socialize. People again stopped purchasing cars, as sitting at home was the only option to survive. 2. The program undertaken by General Motors was seen to be a wrong decision when they realized that their arrogance charged them huge. They claimed to build robotics and computerized techniques for their plants, which would be something to look out for. They even claimed that the previously the cars in the American street were all made in Japan. This had to be changed and that America will witness are advanced technology recently. This belief massively failed when they found that Japan is better at using technology than the Americans. They made a deal with Japan that Toyota would supply those tools for making Toyota-designed cars. General motors’ previously appointed employees to learn from the Japanese warehouses. They tried to adapt their technique in America, which they failed to process. They learned that their economic condition would not let them create such huge projects. This made them import several mini computers to use for their project. They soon realized the reason behind their failure, which was more than a single thing. They not only lacked economy but also technical abilities back then, which they claimed out of arrogance. They failed to realize that just learning and adapting the Japanese way of innovation and creation would not yield them anything They realized that matching the Japanese way would be a lot harder than it appears. Later, they planned to join hands with them, as copying them was not an option anymore. They stopped their strategy on their project after realizing the possible setbacks that could occur. Conclusion The above statements generally reflect how the automobile industry suffered losses in the US, in the past, and in present. How the US strategized in the mid-1980s to come up with a project matching the Japanese way of automobile creation. It is quite clear how arrogance and wrong strategizing failed them. Reference McLarney, Cam. (2003). a driving force: an analysis of strategic planning in the Canadian automotive industry. Business Process Management Journal, 9(4), 421–439. Requirements: 75 words
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