In 57 paragraph What innovative strategic and sustainable ap

In 5-7 paragraph What innovative, strategic, and sustainable approaches do you recommend for Honda Motors?

Solution

It is very important for Honda motors to realize that to keep earning good profits they need to conduct their business in sustainable manner taking into consideration all the negative emissions and effects that they contribute to the environment, also strategies should be made for next 10 years and also short term goals should also be given equal importance in this fast and dynamic automobile world. Hence innovation and strategic planning should be a part of their DNA. One of the innovative techniques that Honda motors can implement is to indicate the best speed at any given point of time that would save maximum fuel and use minimum fuel, this will give an indication to the driver that whether he has to increase or decrease the speed so as to save fuel. This technology has not been implemented and Honda motors can enjoy the first mover advantage of they are able to actually implement in their vehicles. Honda motors can start with self-driven cars; in which artificial intelligence will drive the car based on pattern recognition techniques. This could be a farfetched dream but many companies have started working in this direction but are not able to implement it completely successfully and Honda should use its skillset to bring this innovation to roads. Strategic moves could be to plan for next 10 years to expand in untapped markets. The presence of Honda is still not there in many parts of the world and it is a big opportunity as well for Honda to cater to the needs of the customers in the unexplored parts of the world, this will definitely be reflected in the cash flow statements and revenue sheets of the company. Lastly, sustainable approaches such as manufacturing which produces the lowest carbon emissions, manufacturing recycling parts and ensuring that least amount of trees and wood is used should be in the sustainable plan for Honda. Also competition should be taken care as many new players are invading the markets by lucrative offers.