Strategic Plan
Strategic Plan
Over the past 7 years I have dedicated my time working for Honda Automobiles, a fortune 500 company. I have witnessed success and failure from this organization. The business was so inconsistent that I would go from working 7 days a week for almost 2 years, to being laid off 2 times during the 7 year span I worked there. I would never know my hours, sometimes I worked every day of the week and sometimes I worked 4 days a week. I know that Honda has been and is a successful company. They live by their mission, which is “maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction” (Honda Worldwide 2013). They definitely try to live by this mission, as they are a huge global corporation with 134 production facilities in 28 countries, and 31 R&D facilities in 15 countries (Essay UK 2013). They employ over 167,000 employees and service over 23 million customers worldwide. Honda has achieved great success through their great R&D department, as well as other core competencies that they have. Honda has also been failing in many areas, such as their cost structure and decreasing sales. In this paper I plan to develop a six step strategic plan that will outline the following: strengths and weaknesses of the company, alternative goals and plans, the evaluation, selection, and implementation of these goals, and how to monitor this plan. I will also explain how this plan will help Honda achieve their goals, and help in their overall strategic planning process. While Honda has been very successful for numerous decades, the past few years have been very difficult for them. I conducted a SWOT analysis to see what the company’s strengths, weaknesses, opportunities, and threats are. This will help see where the company stands today and what needs to be done to make them successful in the future. Honda’s main strengths are:
Over the past 7 years I have dedicated my time working for Honda Automobiles, a fortune 500 company. I have witnessed success and failure from this organization. The business was so inconsistent that I would go from working 7 days a week for almost 2 years, to being laid off 2 times during the 7 year span I worked there. I would never know my hours, sometimes I worked every day of the week and sometimes I worked 4 days a week. I know that Honda has been and is a successful company. They live by their mission, which is “maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction” (Honda Worldwide 2013). They definitely try to live by this mission, as they are a huge global corporation with 134 production facilities in 28 countries, and 31 R&D facilities in 15 countries (Essay UK 2013). They employ over 167,000 employees and service over 23 million customers worldwide. Honda has achieved great success through their great R&D department, as well as other core competencies that they have. Honda has also been failing in many areas, such as their cost structure and decreasing sales. In this paper I plan to develop a six step strategic plan that will outline the following: strengths and weaknesses of the company, alternative goals and plans, the evaluation, selection, and implementation of these goals, and how to monitor this plan. I will also explain how this plan will help Honda achieve their goals, and help in their overall strategic planning process. While Honda has been very successful for numerous decades, the past few years have been very difficult for them. I conducted a SWOT analysis to see what the company’s strengths, weaknesses, opportunities, and threats are. This will help see where the company stands today and what needs to be done to make them successful in the future. Honda’s main strengths are:
References: American City Business Journals. (2012). Honda Sales Down 7% in 2011. Retrieved from http://www.bizjournals.com/columbus/morning_call/2012/01/honda-sales-down-7-percent-in-2011.html Bateman S, Thomas. Snell A, Scott. (2009). Management: Leading and Collaborating in a Competitive World. Planning and Strategic Management. McGraw-Hill Companies, Inc. Retrieved from http://digitalbookshelf.argosy.edu/#/books/007-7376528/pages/48429806 Essay UK. (2013). Honda Motor Co. Ltd. Retrieved from http://www.essay.uk.com/free-management-essays/honda-motor-co-ltd.php Honda Worldwide. (2013). Honda’s Approach to Customer Satisfaction. Retrieved from http://world.honda.com/CSR/customer/ Slideshare. (2013). European Market. Retrieved from http://www.slideshare.net/payam.ansari/honda-1147013 Strategic Management. (2013). SWOT Analysis of Honda. Retrieved from http://www.strategicmanagementinsight.com/swot-analyses/honda-swot-analysis.html Webster, Larry. (2013). Popular Mechanics. The Future of Diesel: The Analysis. Retrieved from http://www.popularmechanics.com/cars/alternative-fuel/diesel/4330313 Wulffson M.D., Robin. (2011). Honda Outsourcing to North America. Retrieved from http://www.examiner.com/article/honda-outsourcing-to-north-america