Abstract
When constructing a factory to enter new markets, the optimal size to respond to demand is determined by the construction time. Hyundai Motor Company (Hyundai), on the other hand, standardizes the size of its factories to speed up the entry and response to demand. The Hyundai’s entry mode, called SPEED, is modeled as a strategy. The strategy is evaluated of excellence with capacity expansion rules formalized, key parameters identified, and mathematical programming. The SPEED strategy is suited for market followers who want to enter a midscale or mature market in terms of business excellence and more sustainable throughout the factory’s life cycle on the side of sustainability. Shorter construction times, as a result of the SPEED strategy, can help to prevent environmental damage while also standardization can increase job prospects for local workers.
Highlights
The SPEED strategy is suited for market followers who want to enter a midscale or mature market in terms of business excellence and more sustainable throughout the factory’s life cycle on the side of sustainability
We modeled a new capacity expansion strategy, called SPEED which speeds up the lead time ahead of its competitors with
We justified the value of SPEED as a new strategy
Summary
Citation: Kim, G.S.; Lee, Y.H. Speed and Sustainability When EnteringNew Market. Sustainability 2021, 13, 12458. https://doi.org/10.3390/ su132212458Academic Editor: Sungyong ChoiReceived: 23 September 2021Accepted: 9 November 2021Published: 11 November 2021Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations.Licensee MDPI, Basel, Switzerland.Attribution (CC BY) license (https://creativecommons.org/licenses/by/
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