ipl-logo

Honda Motor Company: Risk And Financial Impact

1587 Words7 Pages

Risk and Financial Impact As the American Honda Motor Company introduces the Honda Waver to the consumer market, there are potential risks that are considered. These risks include financial risks, technical risks, new market risks and timing risks. To evaluate and manage these risks, the company enforces a risk mitigation plan. This plan will develop options and actions to improve circumstances related to the risks and will reduce potential threats that could impact the introduction of the new product. To manage financial risks, which is critical to the production of the Honda Waver, the company has developed guidelines to define the written financial policy. The policy that is set in place will be followed by all senior managers and shareholders …show more content…

Total quality management incorporates all company operations including marketing, finance, design, engineering and production (Hashmi, 2018). Principles of total quality management that can be applied to the product introduction are management commitment, continuous improvement, customer focus and training for all employees. To fulfill customer expectations by using total quality management, Honda Motor Company administers management commitment by acting as the main source to create an environment that provides success. Continuous improvement entails cross-functional teams, being aware of mistakes that are being made and knowledge of how to correct the mistakes, as well as, maintaining and improving standards. Customer focus is key in fulfilling customer expectations associated with the Honda Waver. Customer’s play a specific role in total quality management by providing feedback on the product, quality and service that Honda Motor Company offers. All staff members including chief management and associates, must understand the needs and demands of the customers. Each department involved with the new product introduction will keep customers in top of mind. There are five departments that are involved in keeping customer’s satisfied. These departments include the financial, marketing, sales, customer service …show more content…

(2018). Introduction and Implementation of Total Quality Management (TQM).
Retrieved January 12, 2018, from https://www.isixsigma.com/methodology/total-quality-management-tqm/introduction-and-implementation-total-quality-management-tqm/
Honda (Ed.). (2018). Honda Motor Company: Our History | Honda. Retrieved December 09,
2017, from https://www.honda.com/history
Maverick, J. (2015, June 24). What are the major categories of financial risk for a company?
Retrieved January 11, 2018, from https://www.investopedia.com/ask/answers/062415/what-are-major-categories-financial-risk-company.asp
Newton, C. (2018). The Advantages of a Product Launch. Retrieved January 13, 2018, from http://smallbusiness.chron.com/advantages-product-launch-18545.html Vrabie, A. (2014, October 06). Six Characteristics That Make a Highly Effective Team.
Retrieved January 11, 2018, from https://lifehacker.com/six-characteristics-that-make-a-

Show More
Related

  • Allegro Automotive Case Analysis

    1681 Words  | 7 Pages

    The current state of the automotive industry is one of shrinking margins, changing consumer expectations and demands, as well as pressure from the government to increase fuel efficiency. There is increased competition in the American market as foreign companies challenge the “Big Two” automotive manufacturers. Costs increase while the price for their products has remained stagnant. One way that manufacturers have managed to stay profitable is actively working to decrease costs while needing to keep the selling price the same in order to be competitive. The most successful ones have changed their relationships with suppliers to a partnership between the two companies.

    Read More

  • Tesla Motors Essay

    1736 Words  | 7 Pages

    It is expected that the performance of the company would further rise in the future in the automotive industry. However, the company is required to improve their net income in order to increase market share. (Figure 1) Tesla Motors Company has a unique position in the car market which forms the company’s biggest strength. The unique position of Tesla Motors is revealed on the fact that the company not only sells cars but also sells new technologies. Basically, betting on Tesla Motors encompasses integration of a new technology.

    Read More

  • Porter's Five Forces For Bicycle Industry

    724 Words  | 3 Pages

    2.2 Industry Analysis - Porter’s 5 Forces Analysis Threat of Substitutes Bicycles and services from unknown manufacturers can provide huge substitution threats. Just as alarming for bicycle manufacturers is the internet: it is developing as an excellent medium for cheap marketing services. The price that consumer are willing to pay for a product is depends the quantity and the availability of substitute products. When a close substitute for a product is exist, industry profitability is suppressed because consumer will pick out if the price are high. Example consumer will compare the price of other bicycles with this bicycle in terms of quality and appearance, a customer can easily get another bicycle which is less difference but in more cheaper

    Read More

  • Reflective Essay On Teamwork

    708 Words  | 3 Pages

    In essence, teamwork can be defined as a group of people working in the same direction and for a common purpose. Teamwork requires individuals be a team player and to be able to work well with others; after all, there is no “I” in “Team”! As with any endeavour, we faced some initial setbacks. With this being our first college team assignment, we were all treading on unfamiliar territory.

    Read More

  • Reflective Essay: The Value Of Team Leadership

    1783 Words  | 8 Pages

    Introduction Team leadership encompasses many things. It may seem like a simple and small task, but in a real sense, it is complex and comes with responsibilities, and commonly, it determines the success of any team or a group. However, the value of teamwork should not be overemphasized considering that all organizations need individuals and personnel who are willing to share ideas, listen to others and contribute to the problem solving of any given group or a company. Team leaders should have the ability, authority, and power to analyze data and information with a team of people with a common aim and objective as well as issues. The leader should understand the dynamic patterns, the connections and relations between paramount factors in these objectives, aims and issues that help in the analysis process.

    Read More

  • What Makes A Good Team Member Essay

    886 Words  | 4 Pages

    Also, if a team member cannot stick to things or motivate themselves in order to fulfill goals or standards, they may be an unreliable person, so be careful. In my opinion, good team members require specific traits and skills to get things done correctly, quickly, and at a high quality, and these traits are communication skills, open-mindedness, trust, and motivation. The first characteristic needed would be good communication skills. Without communication skills, people may

    Read More

  • The Food Terminal Case Study

    1372 Words  | 6 Pages

    The teams processing the information for the customers for the service provided were contacted by the customers to assist them in making payments. Knowledge The knowledge about the buying criteria of the consumer and that there was greater opportunity for the differentiation strategy implemented based on the quality and the services offered for customers. Mike was also able to establish the fact that his relationship was not too smooth with the managers of the

    Read More

  • Nestle Total Quality Management Analysis

    1019 Words  | 5 Pages

    In my own words, total quality management approach is the ceaseless procedure of lessening or disposing of blunders in assembling, streamlining store network administration, enhancing the client encounter and guaranteeing that workers are dependent upon pace with their preparation. Total quality management aims to hold all parties in the production process as responsible for the general nature of the overall quality of the final product or service. Total quality management is a management philosophy and company practices that aim to harness the human and material resources of an organization in the most effective way to achieve the objectives of the organization (Hoyle, David 2007). This theory consists of eight principles. The first principle is customer-focused organisation.

    Read More

  • Tata Motors Case Study

    1250 Words  | 5 Pages

    INTRODUCTION In June 2008, TATA Motors announced the acquisition of brands Jaguar and Land Rover from the car producing giant Ford Motors. The deal was valued at US$ 2.3 billion and is considered an overall success even from intercultural perspective. On the contrary, the deal was speculated to be a huge failure as the world was entering into recession in 2008 and Jaguar Land Rover (JLR) was incurring huge losses. The deal was an all cash deal with 100% acquisition of Jaguar Land Rover’s businesses.

    Read More

  • Honda Motor Company Case Study

    3635 Words  | 15 Pages

    Ltd. The company manufactured and sold over one million motorcycles within the first ten years of being in the United States. After the success of manufacturing motorcycles, Honda decided to produce the Honda N600 in 1969, as the first automobile. This product launched the vision of manufacturing more than just automobiles. During the year of 1973, Honda began to broaden the product line to assemble four stroke marine engines, power sports products including ATV’s and scooters, racing products, power equipment such as generators, lawn mowers, pumps, snow blowers and trimmers, engines for numerous types of automobiles and aircraft (Bloomberg, 2017).

    Read More

  • Toyota Business Level Strategy Analysis

    836 Words  | 4 Pages

    The Business Level of Toyota Toyota Motor Corporation is a Japanese company that is involved in the design, assembly, manufacture and sale of a wide range of motor vehicles such as minivans, passenger cars, commercial vehicles, and assorted accessories and parts (Nkomo, 3). Examples of brands under the Toyota portfolio include, but are not limited to; Lexus, Toyota, Hino and Daihatsu. Toyota was founded in 1937 by Kiichiro Toyoda and has grown to not only be the world’s leading auto manufacturer in the automotive industry, but also the world’s eighth largest company with operations in virtually every corner of the world (Nkomo, 3). This growth has been fueled by two key aspects of Toyota’s business; its ability to lower costs and concise

    Read More

  • Toyota Crisis Management Case Study

    1537 Words  | 7 Pages

    However, the Toyota massive recalls show a very different situation and involves more serious consequences. We have seen that almost 9 million of Toyota vehicles around the world had to be recalled within a few months, and the potentially defective quality involved were mainly focused on unintended acceleration problems, which were closely related to the most important thing for drivers – safety driving. It’s thus hard to believe that there was nothing wrong with Toyota’s “quality” cars. The massive recalls were indeed a disaster for Toyota: not only means that they had to pay for the extensively financial losses due to repairing costs, market and stock share dropping down, production suspending, civil penalty, and other relevant expenses for dealing with the troublesome issues; but also it has heavily hit to Toyota’s intangible assets – its brand image and reputation of quality, which have been ethically shaped over time

    Read More

  • A Brief Summary Of BCB Future Production

    1547 Words  | 7 Pages

    Brief summary British Columbia box limited Vancouver factory was headed by the plant manager Mr.PaulFlynn. BCB also had sister plants in Burnaby, Vitoria and Toronto .BCB was a part of large international company which specialized in manufacturing of packaging materials . Paul was looking for new machinery in early 2002 as the current machine was 18 years old and it demanded huge investments in terms of maintenance. He also wanted to expand his business and hence was looking for a machine with higher productivity.

    Read More

  • Literature Review On Unethical Behavior

    2877 Words  | 12 Pages

    Review of Literature Unethical behavior can tarnish a company’s image and reputation. If a company is unethical, they may have to spend additional money to improve their public image, as well as gain back as many customers as possible. The reason I have chosen to use articles that are quite a few years old and that are not so recent is because I feel that they are very good examples of what I am trying to prove in the terms of ethical behaviour within companies and these specific articles relate well to my chosen topic.

    Read More

  • Case Study Of Ajinomoto (Malaysia) Berhad

    1437 Words  | 6 Pages

    In addition, the net profit margin of the Ajinomoto Berhad is increasing. I recommend that the investor can invest in the Ajinomoto Berhad as the profit can be made through the investment in the Ajinomoto

    Read More

More about Honda Motor Company: Risk And Financial Impact

Open Document