A Case Study: Soichiro Honda
Planning:
“There is a Japanese proverb that literally goes 'Raise the sail with your stronger hand, ' meaning you must go after the opportunities that arise in life that you are best equipped to do.” * Soichiro Honda
“Planning helps in forecasting the future, makes the future visible to some extent. It bridges between where we are and where we want to go. Planning is looking ahead.” * www.wikipedia.org
Soichiro Honda, a simple apprentice boy, able to create the multi billion dollars business empire that the Honda Motor Company is today, what were the strategies and planning that he implemented that got him success, and took his small business into each and every part of the world.
Honda always believed that knowledge is the key to success in business and that is why he always appreciated ideas of each and every one in his company.
As an apprentice automobile mechanic till 1936, Soichiro Honda was able to study the automobile industry from the basics, acquiring great deal of knowledge about the workings of machines, and the common faults in automobiles.
And then when he was having difficulty making piston rings, he understood he needed a higher knowledge, and he went to Hamamatsu High School of Technology to acquire adequate knowledge but not a diploma.
To prosper in business therefore, it is important to have sufficient knowledge of your industry, which you have to endure to update to remain abreast of modern trends.
Another strategy that Honda executed in his business, which made his business hugely successful, was to enlarge it into foreign lands. The US market allowed it to explore a huge market with boundless purchasing power. This enabled him to sell much more of his motorcycles than would have been possible if his business had remained in Japan only.
Another big hit was when everyone thought the US market was not potential to sell motorcycles, because of the low image of motorcycles then in the US, the Honda Motor Company thought just the
“There is a Japanese proverb that literally goes 'Raise the sail with your stronger hand, ' meaning you must go after the opportunities that arise in life that you are best equipped to do.” * Soichiro Honda
“Planning helps in forecasting the future, makes the future visible to some extent. It bridges between where we are and where we want to go. Planning is looking ahead.” * www.wikipedia.org
Soichiro Honda, a simple apprentice boy, able to create the multi billion dollars business empire that the Honda Motor Company is today, what were the strategies and planning that he implemented that got him success, and took his small business into each and every part of the world.
Honda always believed that knowledge is the key to success in business and that is why he always appreciated ideas of each and every one in his company.
As an apprentice automobile mechanic till 1936, Soichiro Honda was able to study the automobile industry from the basics, acquiring great deal of knowledge about the workings of machines, and the common faults in automobiles.
And then when he was having difficulty making piston rings, he understood he needed a higher knowledge, and he went to Hamamatsu High School of Technology to acquire adequate knowledge but not a diploma.
To prosper in business therefore, it is important to have sufficient knowledge of your industry, which you have to endure to update to remain abreast of modern trends.
Another strategy that Honda executed in his business, which made his business hugely successful, was to enlarge it into foreign lands. The US market allowed it to explore a huge market with boundless purchasing power. This enabled him to sell much more of his motorcycles than would have been possible if his business had remained in Japan only.
Another big hit was when everyone thought the US market was not potential to sell motorcycles, because of the low image of motorcycles then in the US, the Honda Motor Company thought just the