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Hyundai Motor Group And University Of Oxford Unveil New Foresight Centre To Guide Future Strategies
Hyundai Motor Group and the University of Oxford inaugurated the Oxford-Hyundai Motor Group Foresight Centre at Convocation House on July 8, 2024. This collaboration aims to explore long-term visions and strategic directions for the Group, leveraging Oxford’s expertise in future studies.
The Foresight Centre, located at Saïd Business School, will focus on understanding emerging trends and geopolitical shifts. It aims to foster influential networking opportunities and define the direction of Hyundai's long-term research. The centre will also facilitate interdisciplinary conversations among government agencies, academia, and industry experts.
Professor Soumitra Dutta, Dean of Saïd Business School, remarked, "This is an exciting and important partnership with the Hyundai Motor Group that will see our world-leading research and academics shape the future of business through values-based research. Hyundai Motor Group’s vision to pursue a better future for humanity very much aligns with our School’s values, and we look forward to a fruitful and mutually enriching collaboration."
The Foresight Centre will be directed by Professor Rafael Ramirez, known for his expertise in future scenario planning. Titular Associate Professor Trudi Lang will co-direct the centre. Both bring extensive experience from global organizations like the World Economic Forum and OECD Secretariat.
Attendees from Hyundai included Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, who stated, "The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty. In such times, it is crucial for companies to move away from an experience-based approach and adopt a long-term perspective to identify large-scale future trends. We expect that the Foresight Centre will play a significant role in cultivating a multifaceted and comprehensive perspective on the future within organizations, known as ‘future literacy’."
Programs and Initiatives
Specialized programs like the Oxford Scenarios Programme will share insights across Hyundai Motor Group. These initiatives ensure strategic alignment and forward-thinking leadership within the organization. The centre will also engage with Hyundai's open innovation network in key locations such as the United States, China, India, Germany, and Singapore.
Heung-Soo Kim, Executive Vice President of Global Strategy Office at Hyundai Motor Group added, "Hyundai Motor Group is committed to proactively shaping an ideal direction for future communities to build a better world for humanity. We will foster unique capabilities to lead the way as a first mover in the global market, embarking on this ambitious journey not only for the next generation but also those to come."
Long-Term Goals
Through this partnership with Oxford University, Hyundai aims to solidify its leadership in future mobility industries. The collaboration focuses on going beyond short-term predictions to actively design and realize its future goals amidst technological innovations.
The University of Oxford is renowned for its Oxford Scenario Planning Approach (OSPA), which reshapes industry perspectives and conceives long-term corporate directions. This expertise will be instrumental in guiding Hyundai's strategic foresight efforts.
The Foresight Centre’s innovative research aims to advance progress for humanity by identifying critical focus points ahead of time. This proactive approach helps address potential geopolitical risks before they become significant issues.
In summary, this partnership between Hyundai Motor Group and the University of Oxford represents a significant step towards shaping a better future through strategic foresight and interdisciplinary collaboration.
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