Essays on Innovation at Honda-Recycling of Rare Earth Metals Case Study

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The paper 'Innovation at Honda-Recycling of Rare Earth Metals' is a wonderful example of a Management Case Study. The rising global changes in the market have led to an increased need for competitiveness. In this case, organizations seek to develop strategic measures and approaches through which to increase their value for customers and preference over peers in the market. One such approach is the use of innovation in the organization. Innovation in an organization can be described as the process through which an organization devices and develops new approaches to offering services to their customers, as well as new systems and product features.

The key role and strategic aim of an organizational innovation process is to increase customer value and as such create increased customer satisfaction (Porter, 2000). However, the process of innovation includes a change process. Thus, as any change process, organizational innovation faces a number of challenges, which at times limit its success. This report evaluates innovation at Honda Company. The first section offers a review of the organizational innovation and its description as well as how the organization operates and executes its innovation process, with an evaluation of the success and challenging components.

Finally, the report offers a review of the recommendation that Honda can apply to increase its innovation success in the future. 2.0 Organization and Innovation 2.1 Background The Honda Company is a Japanese multinational corporation in the automobile industry. The venture operates in the number of countries in Asia, Europe, the USA, and Africa respectively. In its production line, the venture is attributed to the manufacturing of automobile vehicles, motorcycles, and power equipment for the global market. Despite its global reputation, the venture continues to face market competition from peers such as Toyota, Nissan, and Ford among others on the global platform (“ Honda Motor Company” , 2015).

Therefore, in order to overcome this rising market competition, the venture had to develop alternative innovation systems as a means of mitigating the competition both in the short and long-run periods. 2.2 Innovation Description The organizational innovation process was inspired by the growing need for sustainability. In this case, the automobile industry has faced a wide range of challenges especially in the management of its pollution effects on the environment.

In this case, Honda sought to reduce the impacts of its rare earth metals used on the Honda battery on its vehicles. In this case, through a partnership with the Japan Chemical Limited, the organization established a mass-production plant for extracting and recycling the rare eat metals from car batteries obtained from both Japan and global Honda Company distributors. In this case, through the mass production plant, Honda was able to reduce the wastage of the rare earth metals and instead recycled the products into its subsequent products. In the evaluation of innovation, it is imperative to evaluate the nature and extent of the innovation in terms of the lifecycle.

Osburg and Schmidpeter (2013) argued that innovation has different stages and lifecycle stages such as early adopters, early majority, late majority, and laggards respectively. In this case, an evaluation of the Honda Company rare metals recycling reveals that the company is an early adapter in the market. In this case, the concept of recycling is a new technological concept In this case, technological developments in the market have allowed for the extraction of materials through recycling for further use in the industry.

Moreover, an evaluation of the industry indicates that the majority of the industry stakeholders in the automobile industry are yet to adopt the recycling technology. Consequently, the analysis concludes that the Honda Company innovation on the recycling of rare earth metals in the automobile industry is an early innovation adapter.

References

Abdussalam, P. K. (2014). Celebrity advertisement: key to marketing success. Indian Journal of Commerce and Management Studies, 5(1), p. 78.

Honda Motor Company, (2015). Honda World Wide. Retrieved From < http://world.honda.com/>

Johnson, R. W., Evans, J. L., Jacobsen, P., Thompson, J. R., & Christopher, M. (2004). The changing automotive environment: high-temperature electronics. Electronics Packaging Manufacturing, IEEE Transactions on, 27(3), pp. 164-176.

Osburg, T., & Schmidpeter, R. (2013). Social innovation: Solutions for a sustainable future. Berlin: Springer.

Porter, M. E. (2000). Location, competition, and economic development: Local clusters in a global economy. Economic development quarterly, 14(1), pp. 15-34.

Recycling Today, (2012) Honda Motors, Japan Metals & Chemicals Establish Rare Earth Metals Recycling Project. Recycling Today. Retrieved From < http://www.recyclingtoday.com/article/honda-japan-metals-hybrid-metals-recycling-rare-earth>

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