This is Hyundai Motor Company mission statement overview in 2013. For more information on how to write a mission statement, please refer to our article.
Company Background
| Name | Hyundai Motor Company |
| Logo |  |
| Industries served | Automotive |
| Geographic areas served | Worldwide |
| Headquarters | South Korea |
| Current CEO | Chung Mong-koo |
| Revenue | $ 70.226 billion (2011) |
| Profit | $ 6.910 billion (2011) |
| Employees | 57,105 (2011) |
| Parent | Hyundai Motor Group |
| Main Competitors | Bayerische Motoren Werke AG, Chrysler Group LLC, Daimler AG, Ford Motor Company, General Motors Company, Honda Motor Company, Nissan Motor, Tata Motors, Ltd., Toyota Motor Corporation, Volkswagen AG and many other automotive companies. |
Mission
Hyundai mission statement 2013 |
“Realize the dream of mankind by creating a new future through ingenious thinking and continuously challenging new frontiers. Our philosophy’s key elements:
|
| Evaluation | ||
| Does it include…? | ||
| Customers | Products/ Services | Markets |
| No | No | No |
| Technology | Concern for survival | Philosophy |
| No | No | Yes |
| Self-concept | Concern for public image | Employees |
| Yes | Yes | Yes |
| Does it mention values like…? | Customer or product-oriented? | |
| Citizenship | Teamwork | Customer-oriented |
| No | No | Score |
| Excellence | Integrity | |
| No | No | 1.7/4.5 |
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Overview
Hyundai’s mission or, according to the company, management philosophy, is evaluated 1.7 points out of 4.5, indicating an average level of the statement. The company doesn’t include any information about their customers, products, markets, technology used, concern for future growth and how they treat their employees. The company doesn’t mention any of the values in their mission but provides them separately. Hyundai’s 5 core values, which guide their actions and decision-making are:
- Customer. We promote a customer-driven corporate culture by providing the best quality and impeccable service with all values centered on our customers.
- Challenge. We refuse to be complacent, embrace every opportunity for greater challenge, and are confident in achieving our goals with unwavering passion and ingenious thinking.
- Collaboration. We create synergy through a sense of “togetherness” that is fostered by mutual communication and cooperation within the company and with our business partners.
- People. We believe the future of our organization lies in the hearts and capabilities of individual members, and will help them to develop their potential by creating a corporate culture that respects talent.
- Globality. We respect the diversity of cultures and customs, aspire to be the world’s best at what we do, and strive to become a respected global corporate citizen.
The statement is customer-oriented, which means that Hyundai focuses on customer needs’ rather than on what products to produce or services to offer. Nonetheless, the mission does little to address all the stakeholders or provide all the important information about the business to the public. It also doesn’t fully reveal Hyundai’s core purpose and serves poorly as a communication tool.
Sources
- Hyundai Worldwide (2013). Corporate Philosophy. Available at: http://worldwide.hyundai.com/WW/Corporate/CorporateInformation/CorporatePhilosophy/index.html
- Hyundai Motor Group (2013). About us. Corporate Philosophy. Available at: http://m.hyundaimotorgroup.com/hmg/mbl/eng/gri/cpr/CorporatePhilosophy.do#philoTab