Sneak Peek The Hyundai Way 2024
Sneak Peek…The Hyundai Way 2024 — A Work in Progress with more to come…
By Don Southerton
For nearly 20 years, I have defined “The Hyundai Way ” in publications, media, and lectures. Early on, I realized it was innate and required a deep understanding of company and workplace culture through hands-on experience.
Most recently, Hyundai Motor Company unveiled its new “Hyundai Way” strategy and outlined its mid-to-long term goals on 2024 CEO Invest Day.
The event shared strategies, action steps, and timelines. Hyundai Motor leadership detailed a flexible response to market conditions and a focus on electrification through its “Hyundai Way” strategy.
In this work-in-progress commentary, I will look at the evolving bur grounded in the past “how” of the “Hyundai Way” and the methods Hyundai has used to achieve past successes and will strategically build upon.
“Can do Spirit”
First, and at the core, Hyundai has always been embodied with a “Can-Do Spirit” despite the odds — and this heritage is doing what others have said is impossible.
This “Can Do” attitude means attacking challenges with 110% commitment through strong will to overcome obstacles.
In Korean, this is referred to as Ha myeon dwaen da, which translated means, “Even if it’s impossible, it’s still possible.” Then, I’d add “Move with Speed.”
Innovative thinking
Hyundai has a rich heritage of entrepreneurial innovation. This is forward-leaning, innovative thinking, especially when faced with challenges. Hyundai, the name adopted in the 1940s when an entrepreneurial startup, means “Modern,” showing forward-leaning origins, heritage, and DNA.
Risk-taking
This means taking bold action. They seek opportunity and then take action while assuming ownership and responsibility. Today, we see Hyundai as a Game-changer and first mover.
Bold Challenges
With that, I want to layer on one long-time intrinsic observation. Hyundai teams and leadership have embraced challenges over the years. This includes becoming a top automaker and now new targets such as 5.55 million annual global sales, selling 2 million EVs per year, offering a full lineup of EV models ranging from affordable to luxury and high-performance, developing SDV equipped with High-Performance Vehicle Computers (HPVC), and bolstering corporate value and shareholder return.
Significantly, this means what others will doubt and may see as unreachable will be achievable — frankly, that has always been “The Hyundai Way.”
More to come ….
