Strategic Management of Honda Company - Case Study Example

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This paper evaluates the history of Honda and the steps the company underwent to gain a massive competitive advantage over its competitors. As far as automobiles and motorcycles are concerned, Honda has been on the top list of the best quality and reasonable pricing. …
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Strategic Management of Honda Company
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Download file to see previous pages In the global business culture and environment, there exists a very wide range of competition. The competition mainly involves organizations with related activities and producing related commodities. According to Grant (2005), another form of competition in the fight to gain financial superiority. In the matter of financial superiority and growth, all forms of organizations are ranked under the same scale. Under this evaluation, organizations and companies seek to gain a competitive advantage. Gaining a competitive advantage in the global market is not an easy task. To gain competitive advantage globally requires an impression and satisfaction of the global consumer needs and wants (Porter, 2004). Over the years, the battle of competitive advantage has seen great improvements in produced goods. Additionally, innovation levels have also increased significantly. However, as much there is a rise in the number of companies in the global market, there are companies which have established their brand in the market. Humans find it difficult to replace their current commodity preferences if they are satisfied. This gives an advantage to companies which have stayed in the market for a long time. 
Additionally, strategic decisions also play a vital role in gaining a competitive advantage. The strategic decision making is aimed at putting the organization in a long term competitive decision making. This involves a consideration of all factors affecting the operations and activities of the organization (Porter, 2004). According to Lynch (2009), factors should include both environmental factors: both internal and external factors. Internal factors comprise of adoption of new technology, human resource development and the advancement of the improvement of managerial activities. External factors comprise political, legal, technological and sociological factors. A consideration of all environmental factors is the best strategy in gaining a competitive advantage in the market. Most important of all is the evaluation of the company’s target market preferences. Preferences may include the change in taste, price, accessibility and technological preferences. With the consumers being satisfied, the organization may then focus on how to keep them satisfied (Grant, 2005). Taking Honda into perspective, it has covered its consumer’s needs and requirements. Honda Motor Company has established itself as one of the most successful business empires in the world. It is also an exhibit of a successful business competitive strategy. In an argument presented by Honda the Power of Dreams (2010), Honda has presented researchers and students with the best research tool. Many researchers and business students use Honda as they research option due to its development and success. The growth of the Honda Motor Company is attributed to the company’s urge to fulfill and satisfy the motor market wants and preferences.  ...Download file to see next pagesRead More
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