Formal Report - Honda Motor Company

Topics: Honda, Soichiro Honda, Automobile Pages: 5 (1711 words) Published: March 13, 2011
Honda Motor Company Ltd., very few people in modern society are unfamiliar with the name. Today, Honda has given society everything from cars, trucks, generators and motorcycles. But of all these, it is the motorcycle that built the framework for Honda's success and boosted the small Japanese manufacturer into a global phenomenon. Honda is a Japanese based company which is well known for its cars and motorcycles. It is the 2nd largest automaker in Japan and the 5th largest automaker in the world. Honda is world renowned for innovative ideas and engineering excellence. Its most well known cars are the Civic and Accord. In the west, Honda currently stands as one of the leading automakers. It has reputation and style. Companies like Honda aim to provide luxury and performance above everything. Nevertheless, there are various internal and external factors that have a significant influence on how the company does business. History/Background

Soichiro Honda, founder of Honda Motor Co. Ltd., started out as an apprentice for Art Shokai, one of Tokyo’s top automobile repair workshops. His impressive performance and dedication earned him the privilege of opening his own Art Shokai shop in Hamamatsu, Japan. In 1946 the shop was converted into the Honda Technical Research Institute. That same year, Soichiro Honda launched his first creation, a bicycle powered by a supporting engine. Two years later, the location officially became known as the Honda Motor Company Ltd. Initially, the corporation was capitalized at approximately ¥1 million with only 34 employees, Soichiro Honda included. The company’s primary focus was on developing and manufacturing motorcycles. In 1958, Soichiro Honda released the Super Cub motorcycle in Japan. After just seven years, Honda had established itself as a leading manufacturer in the Japanese motorcycle industry. In 1959, Honda decided to branch out to the overseas market. That same year Honda opened his first dealership in Los Angeles, California. By 1963, Honda was the number one selling brand of motorcycles in the U.S. In 1961, the company manufactured nearly 100,000 motorcycles in just one month. In 1968, Honda sold its millionth bike. Leading towards the end of the 80’s, Honda was able to hold a 60% position in the global market for motorcycles and in the early 90’s he was able to reach a product output of nearly 3 million. Automobiles

In 1958, Honda Motor Company’s R&D started prepping for car development. On October 25, 1962, Honda proudly displayed the S360 and S500 Honda Sports series, and the T360 mini pick-up truck in the 9th Japan National Auto Show. The displays created massive hype, however, the S360 never made it to the market. The T360 mini pick-up truck went on sale in August 1963 followed by the S500 sports car which hit the market in October. In 2008, Honda Motor Company Ltd. along with Toyota and BMW were the only automobile companies to land on the top 20 of the World’s Most Admired Companies. Environmental Responsibility

Honda Motor Co. Ltd. was among the first automobile companies to engage in environmental conservation activities. The company is dedicated to reducing the impact that its corporate activities and products have on the environment on a global level. They have designed a comprehensive system called the Honda LCA, in order to assess the full extent of the impact that the company’s activities have on the environment over a period of time. Specifically speaking, the system helps determine Honda’s environmental footprint starting from the stages of development all the way through the final disposal of the products. Honda Motor Co. Ltd. has created what they refer to as the Green Factory initiative. Honda keeps records of CO2 gas emissions as well as energy and water consumption of all its subsidiaries and affiliates. They also track the quantity of landfill waste that the company contributes on both a local and global basis and are...
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