Hyundai And Oxford University Unite To Explore Future Strategic Directions

Published: Tuesday, July 9, 2024, 10:30 [IST]

Hyundai Motor Group and the University of Oxford inaugurated the Oxford-Hyundai Motor Group Foresight Centre at Convocation House on July 8. This partnership aims to explore Hyundai's long-term vision and strategic direction.

The Foresight, located at Saïd Business School, will focus on anticipating future geopolitical shifts and risks. It will conduct innovative research to advance progress for humanity and facilitate interdisciplinary conversations between government agencies, academia, and industry experts.

Hyundai Motor Focus on Future Trends

Professor Soumitra Dutta, Dean of Saïd Business School, expressed enthusiasm about the collaboration. "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," he said. "Hyundai Motor Group's vision to pursue a better future for humanity very much aligns with our School's values."

The University of Oxford is renowned for its Oxford Scenario Planning Approach (OSPA), which reshapes industry perspectives and conceives long-term corporate directions. The Foresight Centre will leverage this expertise to develop long-term insights into future societal trends.

Hyundai Motor Strategic Leadership

Gyun Kim, Executive Vice President of HMG Business Intelligence Institute, highlighted the importance of adopting a long-term perspective in uncertain times.

"The automotive industry is undergoing a paradigm shift and significant changes in business environments, leading to unprecedented uncertainty," he said. "We expect that the Foresight Centre will play a significant role in cultivating a multifaceted and comprehensive perspective on the future within organizations."

Heung-Soo Kim, Executive Vice President of Global Strategy Office at Hyundai Motor Group, emphasized the company's commitment to shaping an ideal direction for future communities. "We will foster unique capabilities to lead the way as a first mover in the global market," he stated.

Hyundai Motor Global Collaboration

The Foresight Centre will engage with Hyundai's open innovation network across key locations like the United States, China, India, Germany, and Singapore. This collaboration aims to expand Hyundai's ecosystems in realizing its envisioned future.

Specialized programs such as the Oxford Scenarios Programme and Oxford Futures Forum will be implemented to share insights across Hyundai Motor Group. These programs ensure strategic alignment and forward-thinking leadership within the organization.

Hyundai Motor Leadership Team

The Foresight Centre will be directed by Professor Rafael Ramirez, known for his expertise in future scenario planning. He previously chaired the Global Agenda Council at the World Economic Forum and advised industry leaders like Royal Dutch Shell. Co-directing with him is Titular Associate Professor Trudi Lang, who has held strategic foresight positions at prominent global organizations such as the World Economic Forum and OECD Secretariat.

This collaboration with Oxford aims to establish a foundation for actively designing Hyundai's future goals amidst technological innovation. The partnership is expected to solidify Hyundai's leadership in the future mobility industry by going beyond short-term predictions.

The opening ceremony saw attendance from key figures including Gyun Kim and Heung-Soo Kim from Hyundai Motor Group. From Oxford University were Professor Soumitra Dutta, Professor Jonathan Reynolds, Professor Rafael Ramirez, Professor Trudi Lang, among others.