Risk Taking and OpportunisticHyundai thrives in an environment of unpredictability and uncertainty. Continual change and impromptu behaviour is encouraged at all levels throughout the organisation. Managers are trained to provide custom-made solutions for specific problems in the strategic planning process. Thus, they are especially adept at turning crisis into opportunities by making strategic managerial decisions.

One example is the Hyundai Assurance program that was introduced in 2009. During the recession, Hyundais sales was dismal due to low car demand, as people feared losing their jobs. To mitigate this, the management made a non-programmed decision to introduce the Hyundai Assurance program, allowing for customers to return their cars should they lose their jobs within the first year. This was undoubtedly a huge risk as not only did it not guarantee a sales increase, it could also mean significant losses for Hyundai as it incurs expenses with every car returned. However, this risk paid off as Hyundais sales increased by 9.83% in 2009 and 23.7% in 2010. Thus, not only did the Assurance program help to increase Hyundais profits, it also established Hyundais reputation as one that is consumer-centric. This has led to a strengthening of Hyundais brand name, as illustrated in the SWOT analysis. Thus, Hyundais risk-taking strategy and consumer-oriented responses, which forms its core competency, has largely contributed to its success. Product InnovationOver the years, Hyundai has moved from using a cost leadership strategy to one that gradually adopts a differentiation strategy. This involves building a competitive advantage by being unique in the automobile industry with the use of innovation and technology. It has been persistent in its efforts to identify new areas for improvement to enhance the design and functionality of its products.

For example, in 2014, Hyundai launched the new Eqqus car model which comes equipped with new technological features that boosts both performance and safety. The ultimate goal of Hyundai Motor is to create new social value with technological innovation, and become a new leader of production innovation in the automobile industry. The success of Hyundai's innovation efforts is also partly due to the managements rapid decision making and implementation process. This is owed to Hyundais top-down management style. Such rapid decision making has largely contributed to the success of Hyundai as it allows them to meet the ever changing demands of the automobile market quickly. This had enabled Hyundai to release 21 new car models in just 5 years.