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Fordism light : Hyundai’s challenge to coordinated capit

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  • Fordism light
  • Noble, Gregory W.
  • The Berkeley Roundtable on the International Economy


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Title Fordism light
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Sub Title

Hyundai’s challenge to coordinated capit

Material Type Articles
Author(English)

Noble, Gregory W.

Publisher

[Berkely]:The Berkeley Roundtable on the International Economy

Date 2010-03
Pages 26
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Manufacturing
Industry and Technology < Entrepreneurship
Holding BRIE

Abstract

Despite receiving a strikingly pessimistic evaluation in the acclaimed volume The Machine that Changed the World (Womack et al., 1990), the Hyundai-Kia group has overcome numerous crises to become the fourth largest auto producer in the world. Hyundai’s rise is especially striking because the company has repeatedly failed to implement Toyota’s famed “lean production” system. Hyundai’s labor unions, though well paid by Korean standards, have opposed management’s attempts at rationalization, and gone on strike almost every year. Aside from a few key component companies firmly controlled by the Hyundai group, relations with suppliers remain distant and overwhelmingly focused on price. Hyundai’s impressive achievements in improving quality have stemmed from relentless attention by top management and extensive use of quality inspectors rather than from intensive cooperation with workers and suppliers. Corporate governance remains closed and murky. (The rest omitted)