Affiliation:
1. Chitkara Business School, Chitkara University, India
Abstract
The automotive supply chain has undergone innovation in several domains due to the extensive and global nature of this business. This chapter encourages participants to explore unknown territory and unveil new opportunities for development and innovation to help the automobile sector rethink its perspective on how it approaches market competition. In the automobile business, traditional characteristics like agility, adaptability, and production efficiency are no longer sufficient to establish and maintain a sustainable competitive edge. To maintain their competitive advantage, leaders in the market for upscale automobiles must introduce new technological solutions and use a customer-focused strategy. This study sheds light on the process through which businesses can go past competition and build “blue oceans,” or uncontested market spaces, that render rivalry unnecessary. Companies need to actively contribute to innovation and seize untapped opportunities rather than just concentrating on competition.