Competitive Strategies of Honda Corporation
HRM 3003
Strategic Management
Assignment Title: Honda Corporation
Student ID: 0808174
Submission Date: 18th Nov 2011
Tutor: Shanthi Rajan
Introduction
In the modern corporate culture the level of competition is increasing day by day. The main objective of each organization is to enhance its performance and to attain sustainable competitive advantage in relation to its competitors. Change is a constant in present corporate culture. In such changing environment having a single strategy is not enough for organizations success. To attain sustainable competitive advantage the organizations try to adopt strategies better than their competitors. Organizations strategies help them to achieve a different and unique place in market. Only formulating a strategy cannot help organizations to remain competitive. The organizations after formulating any strategy should test it whether it will be able to help them gain competitive advantage in any particular market or not. Following the same strategies may not help the organization to attain sustainable competitive advantage, as its competitors may formulate better strategy. Hence the organizations should adopt strategic change. Honda Corporation is one of the world’s largest automobiles and motorcycles manufacturer. It was founded in 1946. Since then it has managed to make a unique and distinct place in market. In this essay the Honda Corporation case study will be discussed. This essay will also include a critical evaluation of the strategies that Honda Corporation adopted and how those helped to achieve a competitive advantage in market.
Research Findings
Webster cited in Richard (1996) defined strategy as, “The large-scale planning and direction of operations”. Strategy can also be explained as a way of referring to what one did to counter a competitor’s actual or predicted moves (Steiner cited in Nikols, 2010). From a business point of view strategy can be said as a process through which the organizations are able to
Strategic Management
Assignment Title: Honda Corporation
Student ID: 0808174
Submission Date: 18th Nov 2011
Tutor: Shanthi Rajan
Introduction
In the modern corporate culture the level of competition is increasing day by day. The main objective of each organization is to enhance its performance and to attain sustainable competitive advantage in relation to its competitors. Change is a constant in present corporate culture. In such changing environment having a single strategy is not enough for organizations success. To attain sustainable competitive advantage the organizations try to adopt strategies better than their competitors. Organizations strategies help them to achieve a different and unique place in market. Only formulating a strategy cannot help organizations to remain competitive. The organizations after formulating any strategy should test it whether it will be able to help them gain competitive advantage in any particular market or not. Following the same strategies may not help the organization to attain sustainable competitive advantage, as its competitors may formulate better strategy. Hence the organizations should adopt strategic change. Honda Corporation is one of the world’s largest automobiles and motorcycles manufacturer. It was founded in 1946. Since then it has managed to make a unique and distinct place in market. In this essay the Honda Corporation case study will be discussed. This essay will also include a critical evaluation of the strategies that Honda Corporation adopted and how those helped to achieve a competitive advantage in market.
Research Findings
Webster cited in Richard (1996) defined strategy as, “The large-scale planning and direction of operations”. Strategy can also be explained as a way of referring to what one did to counter a competitor’s actual or predicted moves (Steiner cited in Nikols, 2010). From a business point of view strategy can be said as a process through which the organizations are able to