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Discussion, Recommendations, Conclusion
Donte Walker
Department of Business and Technology, William Woods University
BUS 585- Intergrated Studies and Business Administration – Fall 2 2022
Dr. Leathers
Discussions
When it comes to the provision of particular raw materials and components for motor vehicles, Honda is reliant on third-party suppliers (“Honda Motor,” 2019). The capacity of the firm to receive the necessary supplies in a manner that is both efficient and cost-effective is contingent on a number of factors, the majority of which are under the control of the company. Because of this, any time there is a rise in the cost of the raw materials, there is a corresponding rise in the overall cost of production at Honda Motors. The capacity of the suppliers to deliver a consistent supply of raw materials is a crucial factor that factors into the overall determination of the level of production at the organization (Chong, 2019). Because of this, any loss that is incurred by the suppliers contributes to an increase in the total cost of manufacturing for Honda Motor Company.
Honda’s business operations have been expanded to include locations in a variety of countries. The company is involved in the purchasing of raw materials as well as the sale of finished products and component parts to several nations. Changes in the value of the local currency in any of Honda Motor Company’s operational countries can have an impact on the prices of both the raw materials and finished goods that the company sells (“Honda Motor,” 2019). The emission of fuel gases and noise are both governed by a variety of rules and regulations, each of which might vary from country to country. “Honda Motor,” 2019, states that the corporation is now working on developing zero-emission automobiles so that they would be able to continue business in nations that have laws prohibiting the emission of fuel.
The company’s operations have been slowed down or completely halted as a result of various conflicts, terrorist attacks, political unpredictability, and labor strikes that have occurred in several countries. In addition, the laws and regulations governing commercial activity are often being revised in many nations. These policies involve the imposition of taxes as well as quotas set by the government (Chong, 2019). The corporation has no control over these policies, and when the restrictions become intolerable, they are compelled to stop their operations in the areas that are impacted by them.
Recommendations
Honda is required to adopt MIS across a variety of areas, including manufacturing, production, finance, and human resources, among others. There is a wide variety of MIS providers available on the market today from different vendors. It is necessary for Honda to identify the most qualified manufacturer to install the system (Chong, 2019). When choosing a manufacturer, it is important to take into consideration factors such as price, ease of maintenance, and level of security. The efficiency of a company’s procedures and systems is directly correlated to the level of contribution made by its workforce. If Honda fails to provide its staff with enough training on new technology, the company will not be successful in achieving its goals (Chong, 2019). Therefore, Honda is obligated to provide its staff with education and training on MIS as well as the new process.
Conclusions
Core competencies are what provide a firm a distinct advantage over other businesses in its industry. Every company has at least one, and often several, of them. Honda has a better chance of staying one step ahead of its rivals if it implements a management information system that is capable of doing its job (Ross, 2019). MIS provides the required tools for Honda, allowing the company to better comprehend both the enterprise and the market or the external environment.
The management information system at Honda is a method that is established as part of the company’s internal control and aids management with the day-to-day operations of the business (Ross, 2019). It is not just a tool used for compiling the information, but it does allow Honda’s managers to participate in the decision-making process that is used by the management.
The economy and the environment across the world have a significant impact on the way Honda Motor Company conducts its business. The company is forced to compete in a very competitive market, and as a result, it has had to come up with a variety of strategies to ensure its continued success in order to maintain its current level of profitability (Ross, 2019). Among these are the production of items of a high quality and the diversification of their suppliers. The unrivaled skill of Honda and the company’s dominant position in the automobile sector are two of the company’s many strengths.
Its lack of investment in research is one of its vulnerabilities, along with its reliance on the North American market for revenue generation. It is vulnerable to a variety of challenges, including those posed by natural disasters and new competitors that have recently entered the market (Ross, 2019). However, the business brags about attractive chances, such as the timely and frequent release of new models, as well as the general decline in fuel prices, which has led to an increase in the demand for automobiles. Because it had sufficient resources, capabilities, and core competencies, the company has been able to maintain its position as a viable competitor in the market (Ross, 2019). The Honda Motor Company has been able to maintain its unrivaled expertise and a place of respectable longevity in the automotive sector because to the numerous initiatives that it has undertaken.
References
Chong, S. C. (2019). An Analysis of the External and Internal Factors Affecting Honda Motor Company’s Performance.
“Financial Results: Honda Motor Company” (PDF). May 2019. Retrieved 15 June 2018.
Ross, Jeffrey N. (29 January 2019). “Honda is first Japanese carmaker to be a net- exporter from US”. autoblog. Retrieved 25 July 2019.
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