Improving Honda Motor Company: A Report On Productivity, Market Diversification, Reputation, And Employee Performance

Project objective

You are working in any company/restaurant/cafe…….what can you do to improve your business. write a report in 1500 words.

Business organizations, whether small or big, should be in a state of constant growth to be able to stand competition as well as and diversify its global market to improve the sales volume and increase profit margins. The management and strategic planning of an organization determine whether or not the organization will be able to reach its long-term goals. Just like growth, businesses are constantly improving with the advent of new digital technologies and virtual connectivity. This paper is written regarding what can be done to improve aMotor Company Ltd. Various stepsought to be taken the to be able to improve. Improvement of a business should be viewed from different perspectives, but the most vital perspective is diversification of its market to make higher sales volume and increase its profit margins. Business usually grows as a result of increased profits resulting from increased revenue streams such as a one-time purchase of products customers as well as recurrent payment for value propositions by customers. To be able to improve, the company must take care of their reputation, employee performance and productivity among other factors. The purpose of this project is to show what can be done to improve Honda motor company. Honda motor company Ltd is “a Japanese public multinational conglomerate corporation primarily known as a manufacturer for automobiles, aircraft, and motorcycle and power equipment.”It is a company based in Japan with an approximate number of more than 300, 000 employees.

The primary purpose of this project is to suggest what can be done to improve the company mentioned earlier. While the company has been doing exemplary well in the global market, it still has some flaws that when corrected it would be the leading motor company in the globe. Therefore, the project is set out to show how the company can improve its services, reputation, and productivity, among other critical factors of company growth. The secondary objectives of the project are to generally show how any company, regardless of what it stocks can be improved as well as shinning limelight on how to attain optimum productivity.

As mentioned earlier in the paper, the primary goal of the project is to show how the Honda motor company Ltd can be improved. The aspects that will be handled regarding improvements are its productivity, market diversification, public image and employee performance. The suggestions are expected to be implanted within two years.

The scope of the project

There are key aspects of the company that when remain constant or go down itmay suffer closure at the end of the day. These include and ate not limited to market command, public reputation, employee performance, competitiveness as well as productivity. These factors need to be improved for the general improvement of Honda motor company. About competitiveness, the company ought to use its internal resources appropriately to bring about competitive advantages. A fact that has to be appreciated is that most companies offering similar goods or services are exposed to the same external environment (Zhao, 2914). It would, therefore, be hard to develop competitive advantages out of the external environment. The company, as a result, ought to ensure that the internal resources are used as required to bring out competitive advantages. For instance, the company should make use of the modern technology to make the best quality products (Pollock, 2016). Product differentiation is one of the major ways of attaining competitive advantages and when embraced the business will maneuver up well.

Still, regarding competition, the company ought to know who its competitors are. Knowing its competitors means being aware of the type of the products they produce, how much they sell the products, the quality of their products, their strengths, weaknesses as well as source of their competitive advantages and disadvantages. After knowing their competitors, the company will develop feasible strategies to counter them (Walters, 2015). If the company operates blindly without taking time to analyze its rivals, it fails because of inability to come up with viable strategies for beating them (Daneshgari, 2016). For instance, after knowing its competitors, the company will then focus on activities that can put it in a better place than its rivals.

The company should develop a close relationship with its customers. The relationships can be conveniently made through social media platforms such as Facebook, Twitter, blogs, and websitesamong other virtual connectivity platforms. The company should also focus on reaching more customers every day by placing mass adverts on both social media and mainstream media (Franks, 2017). The company should now start getting feedback from its clients and using it to cover loopholes that are present in the company. A fact that should be acknowledged is that those businesses that have a close and personal relationship with their customers do better those that do not (Dyllick, 2015). On the same note, the company should come up with a toll-free 24/7 customer service where clients can register their dissatisfaction or seek support concerning the services offered by the company.

Literature review

Employees are very crucial in any business organization. They make the most vital resources that make the other resources used in the organization. Honda Company ought to practice employee motivation. Research shows that performance increases with increase in employee motivation. Employees who are not constantly motivated perform poorer as opposed to this who are under constant motivation (Forsberg, 2016). Motivation can take the form of incentives, gifts, offers and proper working environment. The company ought to ensure that its employees are comfortable with the environment they are exposed to during working hours (Wang, 2017). They should not be made to work for long hours as that reduces employee performance and may even lead to big mistakes that may be very expensive to correct.

Honda Company should also apply the idea of division of work and specialization. The concept enables every worker to do what they are best in doing, and that improves performance. None of its employees should be compelled to do what they are not in a position to di because that will adversely affect their performance within the organization. Division of work and specialization improves performance in the sense that employees are encouraged and work relatively fast because they are doing something that they are passionate about and something that they have been used to doing for quite some time (Kayal, 2018). The company should also embrace teamwork and cohesion amongst the employees. Employees who work as a team perform better than solitary working employees. To attain optimum productivity, therefore, the company should now focus on instilling and implementing the sense of teamwork within its employees.

The number of items produced per unit time dictates how productive a company is. The company should make use of the best technology that allows for mass production. The production technologies that wereused a few decades ago have been outdated, and therefore there is a growing need to transit from the old production mechanisms to the new technologies that can produce more products within a short period (Garnett, 2017).  Another step that the company ought to take to improve productivity is hiring the best workforce. Just like any other resources, human resources chosen bya company should be the best. Some people have a positive attitude toward work while others do not. As a result, therefore, working with a committed team improves productivity. Highly skilled employees ought to be hired to enable the company soar to greater heights by producing quality products and in large volumes within a short period.

The company should also focus on strengthening and supporting the supply chain management. The supply chain management in an organization is usually clad with the duty of ensuring that the produced commodities reach the final consumer in the best quality and an efficient and cost-effective manner (Horvath, 2015). Companies who have inactive supply chain management department do not do well in the market because when clients place orders, the commodities do not receive them in the required form. Sometimes the product may reach the customers but have spent a lot of additional funds. As a result, therefore, it would be wise and essential for Honda Company to put a lot of emphasis on the role of supply chain management.

Honda company should also try to be original. It is said that originality pays and that original products never become extinct in the market. Most of the businesses in the world are failing because they are copy pasting what they have seen other firms, something that should be avoided at all cost. Therefore, the company should try by all means to be original and not duplicate any other firm’s idea because it may be outcompeted in the process (Wamba, 2016). In addition to that, the company should be aggressive and innovative. It should be able to invent new motor vehicles such as carriages for space exploration, self-driven vehicles,among other useful innovations. The company should know that growth is always accompanied by exploration and implementation of new ideas.

Again, the company should focus on diversifying its market. The company should seek to supply its commodities all over the world and aim at being number one motor manufacturer and supplier in the world. Diversification will be achieved bysome things among them good logistics management team, production of high-quality products and mass advertisements. The company should aim at building its reputation at all cost to be able to penetrate the global market with ease. It should also be conversant with the existing trade policies in the countries it is aiming to sell its products. Overall, by all means, the company should strategize to diversify its market.

Another important thing for the company is proper human resource management. The hiring and firing of the workforce as well as monitoring its progress and performance should be precisely done. Good news is that in the modern digital world there are new technologies for human resource management. These technologies involve highly sophisticated systems that monitor the performance of the employees (Handfield, 2017). The company should, therefore, utilize these systems at maximum to that its employees deliver as required. The department should also ensure that the vetting process is up to date so that the beat team is acquired to be able to improve the company and position it in a better place in the global market.

Conclusion

For a company to improve, it has to consider its competitiveness, its public image, productivity, employee performance among others. A fact that ought to be appreciated is that in the modern digital era companies have the capabilities of doing well due to the advent of digital technologies that ease workforce management as well as improve production per unit time and produce good quality products. Some of the things that can be done to improve a business are using good production technologies, employee motivation, embracing a division of work and specialization, diversifying its market as well as having good customer relations among others. After considering the suggestions in this report, it is therefore anticipated that Honda motor limited company will be improved in all aspects.

References

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Zhao, X. (2914). How to improve the market efficiency of carbon trading: a perspective of China. Renewable and Sustainable Energy Reviews, 23 (5), 66-78