Internal analysis of Honda

Internal Analysis of Honda Motor Co. Ltd.

Honda was established by Soichiro Honda in 1946. The head office of Honda is located in 1-1 Minami-Aoyama 2-chome Minato-ku Tokyo 101-8556 JPN. The current CEO of Honda is Takanobu Ito and he has been CEO since 2011. For now, 190,338 employees are working for Honda. ('Market Line', 2014, p. 3)

Overall the pay and benefits are good for the area that theyemploy from. However, some employees are intending to complain their work-life balance. 72% of employees will recommend Honda to friends and 81% of employees approve their CEO. (Glassdoor, 2015)Share Price of Honda over Last 5 years:

040

Honda Share Price over last 5 years

Open Linear (Open)High LowClose

(Yahoo! Finance, 2015)

Net income of Honda over the last 4 years:

1 2 3 40

2000000400000060000008000000

Net Income of Honda from 2011 to 2014

Net Income(All the value in thousands)

unit

: US

D

(Nasdaq, 2015)

Summary of current events affecting Honda MotorHonda Motor Ltd. is considered as one of the most innovativecompanies around the world. Innovation gives Honda opportunities and good reputation. “Some of the world’s biggest automakers are working with Internet giant Google tobring its Android software into vehicle infotainment systems. Audi, GM, Google, Honda, Hyundai and chipmaker Nvidia have tied up to form the Open Automotive Alliance (OAA), a global alliance of technology and auto industry leaders committed to bringing the Android platform to cars starting in 2014.” (‘FRPT Research’, 2013)“The mapping services that come free with smartphones have become an alternative to pricey built-in navigation systems.” (‘FRPT Research’, 2013) “Honda has developed a manufacturing process which enables it to mechanically join steel and aluminium door panels - claimed to be a world first.” ('Automotive Engineer', 2013) “Honda Motor Co. is joining analliance of companies that will work with Google, Inc., on technological innovations for inboard automotive informationnetworks, such as GPS.” ('GPS World', 2014) What have been stated above showed that Honda can undertake more than manufacturing vehicles. Furthermore, Honda is also accepted by other giant companies.

“New-car buyers have recognised Honda as the ‘Most Trusted Brand’ in an online survey of over 12,000 new vehicle buyerscarried out by Kelley’s Blue Book. This is the second year Honda was named the ‘Most Trusted Brand’ in the study by theinfluential US-based motoring publication and website.” (‘Irish Motor Management’, 2013)“’Winning the Kelley’s Blue Book ‘Most Trusted Brand award’ is very significant because it is not a manufacturer promoted claim but the impartial testimonials of real car owners surveyed across many brands that decide who comes out on top.’ Said Frank Kennedy, salesdirector of universal Honda Ltd.” (‘Irish Motor Management’,2013) Honda always has good reputation amongst its consumers.

During last few years, Honda achieved many goals on their innovations to meet new needs. “The Honda GXRl 20 is capableof meeting the high demands that rammers require of the engine, frame and operator.” ('Landscape Management', 2013) “When developing the GXRl 20 for the rammer marketplace, Honda engineers identified the need for a more compact and lightweight engine footprint to allow for more versatility in frame mounting.” ('Landscape Management', 2013) The innovation of mix of metals made the doors of cars 17% lighter in 2013. ('Automotive Engineer', 2013) The S+ Buttonthat was added on CRZ offered better experience to those whoare obsessed of pursuing speed. ('New Zealand Company Vehicle', 2014) “The S+ system works in all three modes (Sport, Normal and ECON) when the battery level is above 50 percent. This addition helps the driver make the best use ofthe CRZ's performance.” ('New Zealand Company Vehicle', 2014) Honda launched some new models on its annual dealer conference 2013. (Harwood, 2014) “Honda's dealer conference helped the company reach a wider audience by bringing the brand to life in Birmingham.” (Harwood, 2014) “The 2015 Honda Fit is a small car. A subcompact car. A global car that moves families in Japan and Gen Y members in the U.S.” (Vasilash, 2014, p. 21) “People may want a "small" car in

terms of overall dimensions for purposes of maneuverability in urban environments.” (Vasilash, 2014)

Honda also focuses on training employees. “To save costs, Honda focused almost exclusively on internal talent sourcing, rather than external hiring, by training its production associates to become skilled technicians.” ('T+D', 2013) “Whether or not you agree about their powers as motivational speakers, engineers are viewed as essential to innovation at Honda.” (Rothfeder, 2014)

At the meantime, Honda also focused on expanding its business and productivity. “ ‘We're now focused on producingdissimilar things in a similar fashion,’ said Rick Schostek,Honda's senior vice president for North America, at the CAR Management Briefing Seminars (cargroup.org), referring to the $180-million facilities expansion that Honda is undertaking at its powertrain plant in Anna, Oh.” ('Notable', 2013) “Honda of America Manufacturing Inc. will invest approximately $180 million at its Anna (OH) Engine Plant to install new aluminum die-casting capacity and otherengine parts manufacturing capabilities.” ('METALCASTING NEWS', 2013) “In the past three years, Honda has invested $2.7-billion in North America.” ('Notable', 2013) “Honda is spending an additional $35-million to build a 160,000- feet2

training and heritage center near Marysville.” ('Notable', 2013) “The two new technical training centers (for powertrains at Anna, for auto manufacturing in Marysville) will be locations for engineers, equipment service technicians, and production line workers to develop skills related to the new technologies.” ('METALCASTING NEWS', 2013) “In a highly symbolic move, Honda announced in May 2013 that it would build the new NSX supercar in North America, at a new Performance Manufacturing Center in Ohio where it will invest $70m.” (Lan, 2014)“In China, Honda has two major joint ventures: Guangqi Hondaand Dongfeng Honda. In each of these, Honda has a 50% stake,with local partners holding the remaining 50%.” (Lan, 2014) “Honda's overall annual production capacity in China is to

reach one million units with the construction of a third production line at the ZengCheng plant of jv Guangqi Honda Automobüe, the company says. Its total current capacity is870,000 units’ pa.” ('Automotive Manufacturing Solutions', 2014)“In January 2014, Honda opened its second plant in Indonesia, at Karawang, following the completion of a construction process which started in mid-2012.” (Lan, 2014)“The development of the NSX, driven by precision crafted performance, has resulted in a clean-sheet design, which involved nearly three years of intensive development effort by a global design and engineering team.” ('Motor Equipment News', 2015) Honda stands at a global level to expand its business.

With expansion, Honda is getting better production. “Production figures for the US and North America representeda 7.4% and a 5.3% increase respectively on the 2012 records.The company's plants in Ohio and Indiana and Jalisco, Mexico, all hit new highs.” ('Automotive Manufacturing Solutions', 2014) “Honda Manufacturing of Indiana (HMIN) celebrated its fifth anniversary of mass production in October.” ('Automotive Manufacturing Solutions', 2014)

However, Honda’s expansion is not always successfully. “Withproduction of the new CRV and Civic failing to meet expectations, the decision has been made to close Plant 2 atSwindon, with production concentrated in Plant 1 by the end of 2014.” (Lan, 2014) “Recall due to potentially defective airbags. Japanese carmaker Honda will recall almost 570,000 vehicles in China from February due to potentially defectiveairbags, China’s quality watchdog said.” ('AirGuide for the Frequent Flyer Magazine', 2014) Ability to Conceive and Design

Technical Assets

Honda is a company that is pursuing progress and innovations. It has many unique patents, such as “Muffler assembly”, which is a muffler assembly for a vehicle includes a muffler and one of a mount structure and a mount bracket, which is attached to the muffler. Vehicles that include muffler assemblies are also described herein (UnitedStates of America Patent No. 8,833,502, 2014), “Adjustable armrest with adjustable cup holder", which is an armrest maybe adjustable between a down position where a cup holder is accessible to hold a cup and an upright position where the cup holder can be used to cushion an occupant that is supported to it (United states of America Patent No. 8,696,058, 2014)and "Seatback device", which refers to "A seatback device configured to elastically support a planar elastic body between left and right side frames. The seatback device includes left and right first springs and left and right second springs. The left and right first springs have axes respectively, extending in the width direction of the vehicle. The upper parts of the left and right sides of the planar elastic body are connected to the left and right side frames through the left and right first springs. The left and right second springs have axes, respectively, extending in the front-and-rear direction of the vehicle body. The lower parts on the left and right sides of the planar elastic body are connected to the left and right side frames through the left and right second springs. (United States of America Patent No. 8,590,979, 2010)These innovations of Honda are focusing on making people comfortable which showed its people-centred principle.

Human resources Takanobu Ito, President, Chief Executive Officer and

Executive Board Representative Director Fumihiko Ike, Chairman and Representative Director,

Executive Board Tetsuo Iwamura, Chief Operating Officer, Automobile

Operations, Executive Board Risk Management Officer,

Executive Vice President, Executive Officer and Representative Director

Tetsuo Suzuki, Senior Managing Officer and Director, Honda Senior Management R&D Co.

Toshihiro Mibe, Managing Officer of Honda R&D Co., Senior Management('Market Line', 2014, p. 15)

Partners:“10:05 a.m., Dec. 5, 2013--Honda has joined a demonstration project for experimental vehicle-to-grid (V2G) technology aimed at providing a potentially valuable energy storage resource to the nation’s electrical grid while providing for more cost-effectiveownership of plug-in electric vehicles.” (University ofDelaware, 2015) “GM and Honda plan to work together with stakeholders to further advance refueling infrastructure, which is critical for the long-term viability and consumer acceptance of fuel cell vehicles.” (GM NEWS, 2015)“Honda, who just announced its own FCV Concept in Japan, is partnering with FirstElement Fuel to build several hydrogen stations across the state of California.” (Hard, 2015) In North America, Honda built solid partnership with local institutions, such as Montreal Science Centre andOntario Science Centre. (Honda Canada, 2015)

R&D FundingIn 2010, Honda Motor Co., Ltd. had $4,964,340,000 for their R&D budget, 5.5% of total revenue.In 2011, Honda gave $5,883,000,000 for their R&D budget, 5.5% of total revenue.In 2012, Honda had $6,317,000,000 for their R&D budget,6.5% of total revenue.In 2013, Honda had $5,949,000,000 for their R&D budget,5.7% of total revenue.In 2014, Honda made $6,157,320,000 for their R&D budget, 5.4% of total revenue. (Honda Motor Co., Ltd., 2014)

2010 2011 2012 2013 20140

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

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(Honda Motor Co., Ltd., 2014)The funding of research and development comes from internal source. (Honda Motor Co., Ltd., 2014)

Technology StrategyHonda is currently focusing on small size cars. “Against a backdrop of heightened environmental awareness, demand for small-size cars is expected continue to grow in automobile maekets around the world.” (Honda Motor Co., Ltd., 2014) “The 2015 Honda Fit is a small car” (Vasilash, 2014)

Key Competencies:

“For example, Honda's core competency is engines. This core competency is hard for others to imitate; Honda was the first car company in 1974 to comply with strict U.S. emissions regulations on gasoline engines and produced cars without catalytic converters with its CVCC engine. Since then Honda has led the industry in efficient engine design. This core competency not only works in their famous automobile division, but also spreads itself to boat engines, portable generators, motorcycles, airplanes, and even robots. All of the areas require the engine to be the

most important parts of the product.” (Computer Business Research, 2015)

“Honda began leasing the FCX Clarity fuel cell vehicle in Japan in 2008, delivering the first vehicle to the Ministry of the Environment.” ('Market Line', 2014) “In 2009, Honda launched the Wave 110i, a family motorcycle, in Thailand. Inthe same year, the company introduced its all-new 2010 HondaInsight hybrid car at the North American International Auto Show.” ('Market Line', 2014)Honda will never stop its step on innovations so that Honda will not be a laggard.

Management“As Honda's production and parts and materials sourcing expand globally, a shared global quality assurance standard is essential to ensuring that all Honda facilities continue to support 120% product quality. To address this need, Hondaestablished the Global Honda Quality Standard (G-HQS) in April 2005. Based on the ISO 9001*1 and ISO/TS 16949*2 standards under which Honda facilities in Japan and around the world have been or are to be certified, the G-HQSserves to communicate the considerable knowledge Honda has gathered in producing quality products and help prevent issues from recurring. It will continue to conform to ISO certification standards.” (Honda Worldwide, 2015)

Ability to Market

Sales ForceHonda established a huge sales net. They managed their salesforce efficiently so that people can easily find a nearest dealer. (Honda , 2015) “It's easy to find the Honda dealer nearest you. Simply enter your city and state or your ZIP

Code and then click Find Dealers for your results. For more detailed search options, click Refine Search below.” (Honda , 2015)

Distribution networkAt the beginning, Honda decided to cultivate sales network by themselves. “Fujisawa, though, had already decided not torely on a trading company, saying he preferred that Honda develop a sales network of its own. Eventually American Honda Motor Co., Inc. (American Honda), was established as awholly owned sales division of the parent company. “ (Honda Worldwide, 2015)

“The Honda auto sales network, built upon the foundation andresources of retail motorcycle dealers, had thus adopted thesame distribution channel used for motorcycles, in which products were first shipped to the wholesale distributor andthen to the retail dealer. However, as operations grew, the wholesale distributors became more dependent on direct sales. Accordingly, their role of promoting business on behalf of the retail dealer gradually diminished.” (Honda Worldwide, 2015)

Communication“At the marketing stage, firms such as Honda pursue a mass-market advertising campaign, while firms such as Scion pursue a niche-market advertising campaign.” (Tremblay, Tremblay, & Isariawongse, 2013, p. 137)Currently, Honda is focusing on their 2015 fit campaign. (Vasilash, 2014) “Honda is putting major focus on small carsand new media strategies this year.”Honda now is trying to use more digital method for its advertisement. (McCarthy, 2014) “A Honda spokesman said the move is an extension of last year's strategy to review creative and media agencies. ‘We’re investigating opportunities that exist," he said. ‘We want to make sure the portfolio of agencies we have is consistent with our marketing goals.’” (McCarthy, 2014)

Human resources

Toshihiko Nonaka: Managing Officer, Executive in Charge, Product and Brand Strategy for Automobile Operations. Executive Board

Ko Katayama: Executive in Charge, Production Strategy for Automobile Operations. Senior Management.

Takashi Yamamoto: Head, Automobile Production for Automobile Operations, Chief Production Officer, SeniorManaging Officer and Director. Executive Board('Market Line', 2014)

Ed Beadle: National manager for Honda and Acura media strategy (Greenberg, 2014)

The change of employees of Honda:

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20140

20000400006000080000100000120000140000160000180000200000

120600126900131600137827

144785167231

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(Statista, 2015)

Marketing BudgetThe marketing budget for 2014 FY is $16,478,000,000. (Yahoo!Finance, 2015)

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Marketing Budget over Last 3 YearsUn

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Brand Analysis: Accord HybridTarget market“The Accord Sedan isn’t just a people mover, it’s a people pleaser. On the outside, it sports a bold, athletic look with details you’ll appreciate, like a chrome grille, available chrome door handles and available LED daytime running lights. Under the hood, the available 3.5-litre V6 engine excites your senses with performance, while it delights your bank balance with its efficiency.” (Honda Canada, 2015) Accord targets people who want to have better experience while driving. It highlights that it has many ways to make convenience for people. (Honda Canada, 2015)

Features and Benefits

Honda LaneWatchTM: “Display accuracy will vary based onweather, size of object and speed, and the display may not show all relevant traffic. The display is not a substitute for your own direct visual assessment of traffic conditions before changing lanes.” (Honda , 2015)

Forward Collision Warning (FCW): “FCW cannot detect allobjects ahead and may not detect a given object; accuracy will vary based on weather, speed and other factors. System operation affected by extreme interior heat. FCW does not include a braking function. Driver remains responsible for safely operating vehicle and avoiding collisions.” (Honda , 2015)

ECON button: “Take fuel efficiency to the next level. Pushing the ECON mode button makes the engine and othernon-essential functions to help improve efficiency. It’s a quick and easy way to help reduce your fuel consumption.” (Honda , 2015)

Lane Departure Warning (LDW): “Compatible with select phones with Bluetooth®. Your wireless carrier's rate plans apply. State or local laws may limit use of texting feature. Only use texting feature when conditions allow you to do so safely.”

Quality“Some cars pull of the hybrid transformation better than others, and the Accord is about as undetectable as you can get at highways speeds, though you can sense a little drivetrain switcheroo, when darting about town. The gas burning generator part of the equation is a 2.0-liter I4 that outputs 141-horsepower and 122 lb-ft. of torque. Add inthe 124kW of electric motor power and total powertrain productivity comes in at 196-horsepower.” (Motor Week, 2014)

“Honda had long been criticized for being skimpy on features, but this is definitely no longer the case with theAccord.” (Halvorson, 2014)

According to the rate of Accord 2014 on the web page of The Car Connection, Accord got good reputation among consumers. (Halvorson, 2014)

PlaceHonda established solid dealership with local distributors. (Honda Worldwide, 2015) “Honda issues a certificate to dealerships that meet our own high standards in the areas of environment, safety, and corporate citizenship. We seek to establish dealershipsthat contribute significantly to local society.” (HondaWorldwide, 2015)Honda announces that people can find a dealer that nearest to their home. (Honda , 2015) According to the map around Toronto, Honda did distribute their productsin a high intensity. (Honda Canada, 2015)

(Honda Canada, 2015)

Promotion“Lease offer available through Honda Financial ServicesInc. (HFSI), on approved credit. The weekly lease offerapplies to the new 2015 Accord LX manual (model CR2E3FE) for a 60-month period, for a total of 260 payments. 120,000 kilometer allowance (12¢/km excess charge applies). Freight and PDI of $1,695 included and$100 A/C tax included (if applicable). The first payment and the RDPRM lien registration and lien registering agent's fees (up to $48 total) are due at time of delivery. Taxes, duty on new tires ($15), insurance and registration are extra. Dealer may lease for less. **Purchase financing offer available through Honda Financial Services Inc. (HFSI), on approved credit. Financing example: the new 2015 2015 Accord LX manual (model CR2E3FE). Selling price of $25,845 financed at 2.49% APR equals $486.69 per month for 60 months. $0 down payment or equivalent trade-in may be required. Cost of borrowing is $1,428.40 for a total obligation of $27,514.20. Taxes, duty on new tires ($15), license, insurance, registration and options are extra. Limited time offer subject to change or cancellation without notice. Dealer may sell for less. Dealer order/trade may be necessary. While supplies last. Only valid for Quebec residents at participating Quebec Honda dealers.For a limited time only. Subject to change by the manufacturer without prior notice. Offer valid on new in-stock vehicles only. Pictures are for illustration purposes only. See your Honda Dealer for complete details.” (ThetFord Honda, 2015)

PriceHonda Accord V6 in 2013: Suggested retail price was $30860 and the invoice price was 28292. ('Kiplinger's Personal Finance', 2013)

Honda Accord V6 2015: Retail price is $30495.Accord Sedan is presented as a price of $24050. (Honda Canada, 2015)

Online Marketing StrategyHonda presents both brand and manufacture on their website. (Honda Canada, 2015)However, it is not available for online purchasing, which Honda provided dealers’ information on their website. (Honda , 2015)Accord Sedan uses Facebook as its social media strategy(Honda Canada, 2015)

S/W AnalysisStrengths:

Honda products cover many aspects which is not just limited by vehicles. A wide product line gives Honda variety sources of income.

Honda is a leader in the field of engine. Honda always rings change in advance.

Honda has a high intensity and integrated sales networkand production force. Honda constructed many plants in global range, which assured Honda productivity.

Honda strongly focuses on research and development, which made Honda can fulfill the needs of customers better.

Honda can also produce some parts for internal manufacturing, which is a reduction of dependence of suppliers.

Honda also focuses on cultivate talents to stop losing core competencies. Weaknesses:

Honda has a big population of employees and these people can be a burden for the company by spending retirement funding. For recent years, Honda cost a lot

on postretirement which negatively impacted financial condition.

Product recalls impacted company reputation negatively.The recall in China caused a big loss of market share in Chinese market.

Employee reviews showed that some of employees can hardly find work-life balance in Honda while they are working under relative high pressure.

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