Tuesday, January 28, 2020

The Hondas Internationalization Process Business Essay

The Hondas Internationalization Process Business Essay Honda Motor Company, Ltd is the most prominent automobile company of japan. It stepped into the Japanese market in the 1949. It has the greatest market share in the global market. It is the major manufacturer of motorcycles. The companys major branch is headquartered in Tokyo .In the beginning, the company was just a manufacturer of motor bikes but started to sell the automobiles and lawn mowers after all the competitors. The success of the company is because of their strategies; the company makes the product for the markets where they are demanded. The founder of Honda, Mr. Soichiro Honda implemented his mechanical and commercial ideas to the company and this is his struggle that made Honda, a big success. A Honda motors is serving the market of 33 countries at present with its long-lasting manufacturing facilities.( Honda, 2013) Hondas Mission Statement The mission statement of Honda is to maintain a standard of quality and deliver highest quality products at a rational price to satisfy the customers. ( Honda, 2013) Hondas Vision Statement The vision of Honda is to create an organizational culture to achieve the goals and strengthen as the unbeatable brand and the best manufacturers of motors. Organizational Leadership Style The first leader of Honda was the person who founded the company, Mr. Soichiro Honda. The research has shown that Mr. Honda was an innovative leader and he always encourages the employees to increase their production efficiency. He was a transformational leader. He always promoted a culture of communication between the managers and employees in order to accomplish the objectives of the organization. All the employees at the company are enthusiastic and make up a successful team.( Hunt, 2007) The company follows the concept of transformational leadership. Hondas Internationalization Process The internationalization means to expand the business on global level. Honda proved itself as the most successful producers of cars on the global level. In 1959, Honda started its process of internationalization by having a subsidiary in United States, the Honda motor co. ltd. Honda in japan manufactured the cars and they were exported to its subsidiary. Honda was late in introducing its automobile industry and this made the company to face many problems in the market of Japan. ( See Appendix 1). The import from japan was restricted afterwards and then the Honda Company initiated Honda of America Manufacturing in 1981, although the parts of cars were manufactured in japan and the assembling was in US. Honda started to export the cars to other countries as well and introduced its products in the international market. In the 1980s, Honda recognized that it has strongly captured the market of United States and then the company took ahead its concept of globalization to the idea of inter nationalization. The objective was to have more market share and to cater different needs of different customers in a better way. The management of Honda decided to divide its market in five regions. These regions include North America, Europe, Middle East Africa, South America, Asia Oceania and Japan. Honda Regions And Subsidies Year Honda Regions and Subsidies Year Japan 1949 Middle east Africa 1970 North America 1965 South America 1959 Europe 1962 Asia Oceania 1974 The Situation in the Host Companies The Honda products have come up with success in most of its host countries. When we talk about US, there are two types of views that are expressed about the Honda Company in the market. Some people think that it had a bad impact on the domestic automobile market of US and some people consider it as a good deal. According to Richard Pascale, Honda had intended to protect an uncertain share of the traditional US motor-cycle market (1995).Contrary to this, the Honda products were failed to be accepted by the Europeans because the local companies were providing a higher quality at a cheaper price. The sales of Honda in Europe were 11% of the global turnover in the early 1990s as compared to Japan (33%) and the North America (43%). Honda is willing to spend about $40 million and wants to appoint 300 employees to increase production in Greensburg, Ind., as its North American operations have a big role in the global strategy of the company. ( Global automakers, 2012) Internationalization Strategy of Honda The company made the subsidies more independent from the parent company. All the subsidies were responsible for their own profits, manufacturing and RD. this was because of a difficulty to determine the taste of all the customers while sitting a single country. The company designed a strategy to make independent RD in all the regions i.e. Honda Research of America in 1984 to produce the cars that will satisfy the needs of the customers. It was very expensive to make products according to each strategic state, so Honda developed a strategy of platform for the automobiles. According to the strategy it established a common development center where the product was modified in accordance with the taste of the market of that region and to satisfy the customers. To control the increasing cost, Honda changed its manufacturing approach from the classical Ford Manufacturing System to the Lean Manufacturing System to compete with its internationalization strategies. At present, the Honda Compan y is promoting the concept of Green Technology to cater and satisfy the customers around the world. Honda Company has an effective international strategy according to which all the regions will have independent relationships to enhance the trust factor. (Mair, 1998) The corporations should contribute a part in the transfer of the technology. Hondas overseas strategy consists of the four localizations: Localization of products Localization of profits Localization of production Localization of management The localization of products which means the products should be produced and marketed on the basis of the needs of the customers of that particular region and the RD of the company should conduct research to increase the level of efficiency in the production. The localization of profits means to reinvest the profits in the company as much as possible. The localization of production refers to the concept that the company should not depend on the products that are exported; it should also conduct the production activities in the region to contribute in the development of the company. The last localization is the localization of management that refers to the practice of promoting the collaboration and communication between the management and the employees in order to achieve the international targeted common goals in an effective way. New Mission after Internationalization: The mission after the internationalization is to maintain an international market and supply highest quality products at a rational price to satisfy the customers all over the world. New Vision of Honda The vision of the Honda Company is to prove itself as the best and most efficient manufacturers of automobiles and motors in the world. COMPETITIVE STRATEGIES AND COMPANY ASPECTS It would be beneficial for the corporation to form strategic alliances with the other local corporations of the host country in order to be successful. It will pave the way for its progress and development. Moreover, the increased emphasis on delivering the high quality automobiles to the customers would assist the corporation in capturing the more market share. Furthermore, it would be advantageous for the corporation to enter the Asian markets due to the increase in the population there. It will help them in earning the optimal proceeds.

Sunday, January 19, 2020

magellan :: essays research papers

In 1517 Ferdinand Magellan proposed to King Charles I of Spain for a fully funded expedition to find a western sea route to the Molaccan Islands. If Magellan could find an easy way through or around South America it would enable the Spanish to set up a profitable trade route with the Molaccans, known for its abundance of spices. On May 22,1518 King Charles I granted Magellan enough money to buy five ships. Over 250 men were divided up amongst the Trinidad, the San Antonio, the Conception, the Victoria, and the Santiago. The ships set sail on their journey on September 20, 1519 from a port in Sanlucar de Barrameda, Spain. The ships sailed south along the coast of Africa until they reached the equator. They then turned to head across the Atlantic Ocean toward northern Brazil. They reached South America at a city in Brazil called Recife. The fleet continued down the coast in search of a passageway through South America. Trades were made in Rio de Janeiro with Native Americans in December. Port San Julian in Argentina gave the crew winter shelter for five months. Shortly after resuming voyage, one of the ships was driven to shore and lost exploring an inlet. Just south of the 50th parallel, near Rio Santa Cruz, Magellan sent two of his four remaining ships to explore a large inlet. The ships returned two days later responding that they had been to three bays through narrow passages. Against advice, Magellan set out to sail through the strait. One of the ships gave up and set out to return to Spain. On November 28, 1520 Magellan’s fleet of the three remaining ships exited the strait into another ocean. The strait Magellan and his crew used is now called The Strait of Magellan. The new ocean was named the Pacific Ocean because it was very calm. This ocean had much more favorable weather than the last but was much larger than expected. The crew ran out of food shortly. Soon they ate the leather rope guards. Desperate to survive, the sailors ate sawdust and rats for 98 days. Many died of scurvy and malnutrition. Finally a small island in the west pacific was sighted. The ships stopped for food and to regain health. Magellan then sailed to Mindanao in the Philippines and on to Cebu Island. Although Spain did not immediately recognize the importance of the Philippines, they had become the greatest Spanish trading center in the East.

Saturday, January 11, 2020

J.J Reddick

What is rounding? Rounding a number means approximating it. A rounded number is often easier to use, understand, and remember than the precise number. In MyFinanceLab most of our answers are rounded decimal numbers. A decimal number has three parts: The whole number part, the decimal point and the decimal part. For example: [pic] So, in order to round a decimal number we basically round the decimal part of it. These are the two basic steps for rounding decimals to a place value to the right of the decimal point Step 1: Locate the digit to the right of the given place value.Step 2: If this digit is 5 or greater, add 1 to the digit in the given place value and delete all digits to its right. If this digit is less than 5, delete all digits to the right of the given place value. For example: Round 736. 2359 to the nearest hundredth. Solution: Step 1: We locate the digit to the right of the hundredths place Step 2: Since the digit to the right is 5, we add 1 to the digit in the hundredths place and delete all digits to the right of the hundredths place.Thus, 736. 2359 rounded to the nearest hundredth is 736. 24 Rounding in MyFinanceLab In MyFinanceLab we use input instructions to indicate the place value to which you must round your final answer(s). For example: Let’s say your final answer is 736. 2359. †¢ You must enter 736. 2 if the input instruction is: Round to the nearest tenth. †¢ You must enter 736. 24 if the input instruction is: Round to the nearest hundredth. Note: Other typical input instruction in MyFinanceLab isRound to the nearest cent if the final answer is in currency units. †¢ You should enter 736. 236 if the input instruction is: Round to three decimal places. Now, let’s use a simple Time Value of Money (TVM) question you may encounter in MyFinanceLab. | | |Problem Example: Comparing Interest for Various Compounding Periods.If $1,000 is invested at 8% compounded | |annually, | |monthly, | |what is the amount after 5 y ear? (Round to the nearest cent. ) | To solve this problem without using a financial calculator or a spreadsheet, we need to use the compound interest, future value, formula: [pic] where, i |= |r/m | |FV |= |future value at the end of n periods | |PV |= |present value | |r |= |annual rate | |m |= |number of compounding periods per year | |i |= |rate per compounding period | |n |= |Total number of compounding periods | Solution: a. Compounding annually means that there is one interest payment period per year. So, n = 5 and i = r = 0. 08. [pic] [pic] [pic] Therefore, rounded to the nearest cent, the final answer is $1,469. 33 b. Compounding monthly means that there are twelve interest payments per year. So, n = 12(5) = 60 and i = 0. 08/12 = [pic] [pic] [pic] Therefore, rounded to the nearest cent, the final answer is $1,489. 85 | |This TVM example helps us to understand a basic rounding principle in MyFinanceLab: â€Å"Do not round until the final answer. † As you | |can see in part a. after solving the expression [pic]we leave it unrounded and use as many digits as possible in its decimal part. | |The same happens in part b with the other exponential expression. | | | |Take another look at part b. because rounding i to a small number of decimal places, such as 0. 007 or 0. 0067, would have resulted | |in round-off errors.So, to avoid this, use as many decimal places as your calculator is capable of displaying. | Tips: If you want to calculate TVM problems, mathematical calculations are relatively straightforward. However, as you will see, TVM calculations are easier using a financial calculator or spreadsheet. But, no matter what method you use – equation, financial calculators, or spreadsheets, you get the same answer because they all use the same formula and concept. These are some tips for solving TVM questions. Calculator Tips: †¢ Set your calculator to display at least five decimal places or to floating decimal place (nine decimal places). †¢ Set your calculator to one payment per year.Adjust this setting if necessary. †¢ Set your calculator to the â€Å"end† mode. Adjust this setting if necessary. Excel Tips: †¢ Take advantage of the formula help that Excel offers. †¢ If you are lost, click on â€Å"Help†. †¢ Be careful about rounding variables. For example, suppose you’re dealing with the interest rate 6. 99% compounded monthly. This means you will need to enter the interest rate per month, which is = 6. 99%/12, and since you are performing division in the cell, you need to put an â€Å"=† sign before the division is performed. Don’t round the result of 0. 0699/12 to 0. 58 and enter 0. 58 as i. Instead, enter =6. 99%/12 or as a decimal =0. 0699/12 for i.

Friday, January 3, 2020

Ancient Greek Astronomy Essay - 1538 Words

Ancient Greek Astronomy Since the first Egyptian farmers discovered the annual reappearance of Sirius just before dawn a few days before the yearly rising of the Nile, ancient civilizations around the Mediterranean have sought to explain the movements of the heavens as a sort of calendar to help guide them conduct earthly activities. Counting phases of the moon or observing the annual variations of day length could, after many years collection of observations, serve as vital indicators for planting and harvesting times, safe or stormy season for sailing, or time to bring the flocks from winter to summer pastures. With our millennia of such observation behind us, we sometimes forget that seeing and recording anything less obvious than†¦show more content†¦There are hints of the Greek conception of the universe in Homer, who mentions many subjects on his two epics describing war and the perils of trying to come home after long absence. For Homer, heaven is a solid inverted bowl straddling the earth, with fiery, gleaming aither above the cloud-bearing air. Homer mentions the movements of sun, moon, and many stars by name. The fact that Hades is on the underside of earth has an important impact on conceptions of heaven: it is unlit by the sun, therefore, the sun--and by extension, other heavenly bodies-- must sink only to the level of Ocean, which is conceived as a river circling earths edge. From it the Sun must also rise--though how it gets back to the eastern bank of Ocean is never explained. These popular conceptions of sky are more fully explained in Hesiod, whose works on gods, on agriculture, and animal-herding are more closely connected to the practical application of astronomy. He clocks spring, summer, and harvest by solstices and the rising and setting of certain stars, and notices that the sun migrates southwards in winter As the Greeks began to travel and explore, their ideas of the order of the universe began to change. Many Greeks settled on the coast of Turkey in the early migrations of the eleventh century BCE, and there enjoyed rich cultural mingling with their neighbors the Lydians and Persians, latest descendents of Mesopotamian civilization. They kept inShow MoreRelatedAncient Greek Science and Astronomy2201 Words   |  9 PagesThe Ancient Greek culture has had such an impact on the world that no matter where you look you re sure to find something Greek about it. Out of all the areas that the Greek culture is famous for there are two that tend to exert themselves into our own culture even today. That would be their Science and Astronomy fields. 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