Norbert reithofer biography of george michael
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BMW’s Focus on Sustainability Drives Record Q1 Profits
BMW earned record profits in the first quarter of 2011, driven by some important choices by CEO Norbert Reithofer, including decisions to focus on what’s important, own the things they need to own, and partner with others where and when they can. His actions serve as an excellent example of how CEOs and other senior leaders can make strategic choices which close the gaps between business objectives and the current reality.
Focus on What’s Important
Harvard Business School Professor Michael Porter says strategy is choosing what not to do. PrimeGenesis partner Harry Kangis goes one step further:
Choosing not to do something that’s a bad idea is easy. The hard choice is choosing not to do something that’s a good idea – for someone else.
Reithofer is clear on what’s important to BMW, as he discussed during their 2011 annual meeting,
- To maintain our technological lead in the field of sustainable drive systems with both combustion and electric motors.
- To pool the most promising expertise within the company.
- To provide customers with attractive mobility services.
Reithofer rejects the trade-off between sustainability and driving pleasure. As he said in an interview with Spiegel magazine
The concept
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Join Date: Oct 2007
Location: downtown toronto
As Sales Fall, German Carmakers Cut Production and Hope to Avoid Layoffs
As Sales Fall, German Carmakers Cut Production and Hope to Avoid Layoffs
New York Times
By CARTER DOUGHERTY
Published: December 3, 2008
FRANKFURT German automakers may not be facing the existential crisis that has pushed their American competitors to seek a government bailout. But the signature industry in Germany is warily bracing itself for a potentially lengthy downturn.
All the major German automakers, from Volkswagen to Porsche, are scaling back production for longer than usual during the holiday season.
They are also trying to dodge the politically fraught topic of layoffs, although most analysts believe that they can be avoided only for a few more months.
Though German automakers are not hemorrhaging money like their American counterparts, auto sales have crashed since the financial crisis exploded anew in mid-September.
For most of this year, sales appeared to be matching those of 2007.
But in November, sales plunged 18 percent, according to the German Association of the Automotive Industry. Exports, the lifeblood of German manufacturers, also stalled in November as big emerging mar•
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