|Name||Honda Motor Company, Ltd.|
|Industries served||Automotive, Aviation, Telematics|
|Geographic areas served||Worldwide|
|Current CEO||Takanobu Ito|
|Revenue||¥ 7.948 trillion (2012)|
|Profit||¥ 211.48 billion (2012)|
|Main Competitors||Daimler AG, Ford Motor Company, General Motors Company, Nissan Motor, Toyota Motor Corporation, Suzuki Motor Corporation, Volkswagen AG and many other companies.|
Honda Motor Company is a Japanese company producing automobiles and motorcycles. Honda is the largest engine producer in the world in terms of units as well. The firm was the eighth largest automaker in the world in 2011.
Honda mission statement 2013
|“Maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction.”|
|Does it include...?|
|Technology||Concern for survival||Philosophy|
|Self-concept||Concern for public image||Employees|
|Does it mention values like...?||Customer or product-oriented?|
(This evaluation framework is composed of the guidelines listed in our article: Mission Statement for Success)
Honda’s mission has scored 1.5 points out of 4.5, which means that the statement is poorly constructed. The statement reveals what the company does, what its competitive advantage is and where it operates but doesn’t mention anything about the customers, self-concept, employees and social responsibilities. The company also forgets to mention what values guides its decisions and actions but the company states its philosophy separately. Honda’s philosophy is explained by its fundamental beliefs:
- Respect for the Individual. Individuals are treated equally, they are encouraged to show initiative and trust each other.
- The Three Joys. Honda believes in a joy of buying, joy of selling and joy of creating, which are fundamental for successful firm’s operation.
Honda’s mission is customer-oriented, which defines organization’s purpose in terms of satisfying customers’ needs. It provides more flexibility for the company to venture into new product markets without the need to change its mission statement. Nonetheless, Honda’s mission is a poor communication tool and provides little information to company’s stakeholders of what is the Honda’s ‘reason for being’ in the business.