In the time of globalization, every business activity becomes more competitive. In this paper, I will analyze the different strategies that a multinational company such as Honda Motors undertakes to survive in the business environment of today. Honda Motor Co. Ltd is a car manufacturer which is based in Japan. The company follows some principles on the basis of which it operates. These principles are; respect the individual and the three joys which are the joy of buying, the joy of selling and the joy of creating. Honda is one of the largest motorcycle producers in the world. It manufactures cars which meet the criteria of all types of people who belong to different social classes.
The vehicles that Honda manufactures fit all sorts of purpose. It manufactures, scooters, motor cycles, cars, sports cars, jeeps and other kinds of vehicles. Its products are available throughout the world and at reasonable prices.
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Honda Outboard motor on a pontoon boatThe company now has 501 subsidiaries which operate under it and are affiliated with the company in some way or the other, using the equity method. The company was established in 1948 and has been providing us with vehicles for 51 years now. Honda also produces power products.
CULTURAL DIMENSIONS OF GLOBALIZATIONAs mentioned earlier, as the world globalizes the level of competition increases because companies all over the world are competing. In this way there will always be bigger and better companies who will be able to takeover the smaller companies which can not survive on their own.
According to Michael Porter there are some factors which when developed correctly can help companies gain a competitive advantage which can not be easily broken by other companies. There are five forces which help develop this competitive advantage, these are: threat of new entrants, rivalry among existing competitors, bargaining power of...