Question

2. Before knowledge is shared, it needs to be either created or captured. Creation of knowledge requires bringing innovative ideas together. One of the ways to foster innovative ideas is through slogans and analogies. Elaborate the successful approaches of Honda, Canon, Sharp, Matsishuta, etc. in bringing out innovation and fundamental breakthroughs.

Answer 1

Honda, one of the leading company in its industry type, gains its advantage in market by not only offering the product type, but also creating or one must say, innovating and cultivating new ideas in its line of business for potential growth of the company.

Honda shares a big amount of market share in the vehicle industry worldwide, beat it for a two wheeler or a four wheeler. Honda is world tops motorcycle manufacturer in the world. This success only comes when a company is movable in terms of its innovation. Time by time Honda has surprised its customer with its new technology and innovative ideas.

Honda believe in developing new and one of its kind products for its customer, and made sure that the customer base of the company is satisfied with its needs.

Innovation is one good thing that a company has, but to implement the innovation in a realistic model is a though task to perform and Honda as a company follow simple mechanism to make it happen. below are the basic principle of the company to make a product a success. these are:-

• Giving idea as already stated is a big thing, but to implement the idea is even bigger task to complete and here the company strategy is to make sure that every idea that comes to the mind is researched and then process takes place to made the idea tangible.
• Once the idea is delivered, its management’s responsibility, including the team, to make a smooth delivery of the idea.
• Decision of management is made by the practise of the product’s tangibility and no decisions are made on just opinions.
• Not only, the outcome of the product is important in the company, it is very important to create a culture in work place where employees are equally satisfied with the job, and Honda has managed to build such workplace for its workers.

By using this simple mechanism in the company, Honda is able to achieve its success.

Like Honda, there are many other companies, that keep its strategies simple, yet efficient enough to make deliverable/ outputs as a major factor of its growth and success in the market.