Bosch LLC is a German automobile parts manufacturing company with several locations worldwide with one plant located in the North Charleston area of South Carolina. It has been in the Charleston tri-county area for 40 years currently producing ABS breaking systems, low and high pressure fuel injection, high pressure pump, and diesel injection systems. It is a company that positions itself well with its forecasting projections concerning market trends, technology, and innovation. Robert Bosch focuses its efforts toward diversity along with globalization to maintain a competitive edge with a forever changing automotive market. In the external audit summary there will be a focus on information from 9 key external factors that play an integral part in company forecasts to meet consumer demands while maintaining market profitability. The 9 key factors are based on economic, social, cultural, demographic, environmental, political, government, legal, and technological trends regarding automobile parts manufacturing.
The manufacturing of automobile parts is always dependent on the demand for new car sales which are dependent on interest rates, the health of the economy, and by the replacement parts market (Hoover's, 2014). The jobs status in America is still growing at a very small place causing would be buyers to stay in their older vehicles longer before making the plunge to purchase. So, buying activity is slower compare to years past making it even tougher for industry competers. In a competitve manufacturing market small companies can compete along with larger ones by focusing on less parts or more specialized parts. In this market manufacturing profits rely on the demand for new vehicle volume. In 2009 from the US National Export Initiative until 2012 the automotive industry of exports have increased over 80 percent allowing parts manufactures plenty of opportunity to enjoy the benefits. There has been an increase of over 70 global trading partners including Brazil, China, India, Russia, and South Africa (Pahwa, 2014). Since 2009 there has been an all time boost causing foreign buyers to come to America to purchase goods and sevices allowing small and mid-sized enterprises (SME’s) the ability to grow their exporting intiatives for comapanies like Robert Bosch LLC.
This has caused small to mid-sized enterprise more assecibility for financing in order to grow their exporting opportunities (Pahwa, 2014).
In a few days BMW is going to launch their plans to produce it X7 large cross over vehicle in their plant located in Spartanburg, South Carolina (Yahoo Finance, 2014). This would create the production of over 400,000 more vehicles giving Robert Bosch ABS braking system oportunity potential to increase their share within the 5 percent brakeing system market.
Social, Cultural, Demographic, and Environmental Trends
In the industry of manufacturing of automobile parts America, with 50 of the largest companies, make up...