Daewoo is a Korean word for great
universe. It is also a major South Korean multinational company. Daewoo first
came to the market on 1937, but was dismantled by Korean government on 1999.
In 2001, General Motors, decided to
buy majority of Daewoo’s share and formed GM Daewoo. General motors changed the
name “Daewoo” to a more prestigious-sounding name to gain more sales in the
local market. Daewoo Lacetti became known as Chevrolet Optra. This time General
Motors sold the first renamed Daewoo car.
An article posted on BBC news on
2001 stated that Daewoo Motor’s Sales reported a catastrophic fall in first half
revenues and profits. Part of the reasons of Daewoo’s fall was the decline of
vehicles sold. However, the bottom line, according to the news article, is the
firm’s cutting down of commissions it rewards to vehicle sales.
Recently, Daewoo cars are exported
as Chevrolets in most markets.
This study is interested in making
an in depth study on the business flow of Daewoo Motors, since it came into
market up until its current status. This study would like to dwell more on it
strategies Daewoo made, to survive in the market and to counteract bankruptcy.
This study will be using online
articles and printed news archives, to support the data from the books. This
study will also be descriptive and informative in nature since it elaborate on
the existence of Daewoo motors in the market.
This study will be beneficial to
businesspersons, specifically automobile businesses.
Credit:ivythesis.typepad.com
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