One of Japan’s Most Successful Companies Essay Example

website, Honda Motor Co.

Honda, Ltd., is a well-known producer of automobiles and power products. It is also the world's largest manufacturer of motorcycles. With the aim of bringing genuine satisfaction to people all over the world, Honda operates more than 120 manufacturing facilities in 30 countries. These facilities produce a wide range of products like motorcycles, ATVs, generators, marine engines, lawn and garden equipment, and automobiles. Every year, Honda interacts with over 19 million customers. The company was founded by Honda Soichiro in 1906 and contributed to the production of piston rings for Toyota and other manufacturers during wartime.

He sold his company to Toyota in 1945 and the following year founded Honda Gijutsu Kenkyusho (Honda Technical Research Institute), later renamed Honda Giken, now known as Honda Motor. The company's name reflects Honda's focus on technology. Honda primarily spent his time on the shop floor, working on improving engines and creating new products. These ranged from small engines for bicycles to motorcycles with engine capacities of 125 cc, 250 cc, and 350 cc which achieved victory in the Isle of Man races. He rarely attended managerial or board meetings, leaving the financial, organizational, and marketing aspects of the business to his trusted associate, Fujisawa Takeo (Odagiri ; Goto, 1996, p. 200).

Despite encountering difficulties, Honda Motors has emerged as a leading player in the worldwide automobile industry. In 2005, both Honda Motor Co. and Hyundai Motor Co. were acknowledged for their remarkable expansion in car sales within the United States. Consequently, Honda intends to launch the Fit subcompact model from Japan into the American market commencing in April of this year. The objective is to sell 33,000

units within the US during this year and uphold an annual sales target of 50,000 units (Hyde, 6 January 2006).

Honda Motor Co., Inc. announced that the 2006 Honda Civic and Honda Ridgeline have both won the prestigious "North American Car of the Year" and "North American Truck of the Year" awards, making it the first time a single brand has achieved this feat in one year. This is a significant milestone for Honda as it is their first win in either category (JCN Newswires, 9 January 2006).

Upon closer examination of their management policies, it becomes evident that Honda places great importance on maintaining a global perspective and delivering products of exceptional quality. They also prioritize respecting individuals and valuing their differences, fostering an open and dynamic corporate culture that encourages innovation.

Currently, Honda independently develops and manufactures its own original products and technologies for various markets. Their range extends from small power product engines to scooters and sports cars. The company's ultimate goal has consistently been to provide genuine satisfaction to people worldwide.

Our commitment lies in providing products and services that meet the specific demands of customers in each location. In order to cater to local needs, we establish sales networks and develop and manufacture many of our products in the regions where they will be used. This approach has resulted in the establishment of over 124 manufacturing facilities in 28 countries outside of Japan. These facilities produce motorcycles, automobiles, and power products, enabling us to serve over 17 million customers annually (Honda Philosophy, Honda Website).

Honda Motors' success is not only attributed to significant car sales profits but also global expansion, with a global perspective integrated

into our company philosophy. The establishment of Japan's own car industry amidst technologically advanced companies like Ford and General Motors may seem intriguing. Odagiri & Goto (1996) identified two key factors that played a crucial role: the presence of entrepreneurs willing to take risks and persevere despite challenging circumstances.

The success of Honda Motors Company can be attributed to several factors. One factor is the ability of engineers to adopt foreign technology and workers to learn new production processes. This capability was influenced by the Japanese culture and educational system, which placed emphasis on engineering education in universities. This not only produced educated engineers, but also provided technical assistance to the industry. Therefore, it can be concluded that Honda's success was a result of disciplinary values from Japanese culture, an educational system focused on technological knowledge, and perhaps some luck.

Bibliography

1. Corporate Profile. Honda Motors Website. Acquired online last January 11, 2005 at http://world.honda.
2. com/profile Fuse, T. ed. 1975.

The text talks about two books published in London and New York. The first book is "Modernization and Stress in Japan" by F. Graham, published by EJ Brill. The second book is "Inside the Japanese Company" by J. Hyde, published by Routledge Curzon. This information was mentioned on January 9, 2006.

The Detroit Free Press in Detroit, Michigan has reported that Asian brands Honda and Hyundai are steadily expanding their presence in the U.S., according to JCN Newswires on January 9, 2006.

Honda's 2006 Civic and 2006 Ridgeline were both awarded top honors at the 'North American Car and Truck of the Year' Awards. The Japan Corporate News Network, along

with authors Odagiri, H., and Goto, reported this news.

• The event occurred in 1996.

Technology and Industrial Development in Japan: Building Capabilities by Learning, Innovation, and Public Policy.

Oxford: Clarendon Press.