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Jenifer Kephart MGTCB/526: Managing in a Changing Environment Competency 1 Reflection July 11, 2023

MGTCB/526: Managing in a Changing Environment Which particular management tasks and roles does this person perform most often? Due to the dynamic nature of the global business environment, management needs different skills to remain successful. The primary roles of my previous supervisor pertain to the management tasks were planning, organizing, leading, and controlling. However, my supervisor mostly engaged in planning activities, which encompassed the formulation of both short-term and long-term objectives, the establishment of strategic approaches, and the allocation of resources. According to Teece (2018), the planning process encompasses allocating resources, delegating responsibilities, and the establishment of realistic timelines and standards for completion. In addition, an additional responsibility entailed organizing tasks, allocating assignments, and establishing structures by the supervisor to pursue organizational goals effectively. Additionally, the supervisor engaged in the monitoring of performance, the identification of areas for improvement, and the enforcement of compliance with established standards. What kinds of management skills does the manager have? The effective execution of executive duties necessitates integrating management skills, including negotiation, problem-solving, decision-making, and staff management, supplemented by practical experience. Further, managers must effectively navigate the intricacies of interpersonal and team dynamics to successfully achieve their objectives (Teece, 2018). Therefore, possessing relationship management skills is essential for the manager in this position, as effective management involves working with individuals and leveraging their abilities as valuable assets. Managers tend to adopt specific leadership styles to fulfill their responsibilities. How does this approach affect a global environment? The interplay between the economy and the global environment frequently influences organizational dynamics, yielding potentially favorable outcomes. The proposed modifications have the potential to enhance overall performance, bolster employee morale, and ultimately result in increased profitability for the business and the owner. Leadership plays a vital role in the expansion of business in the international market. According to Miller (2019), the US Office of Personnel Management asserts that influential leaders in managing transitioning global enterprises should possess flexibility, resilience, and the capacity to maintain composure in high-pressure situations. In order to effectively respond to the requirements of the international market, a corporation must expand its operations beyond its existing geographical boundaries by establishing new offices and appointing managers in diverse locations across the globe. Part 2: Analysis of Business and Corporate-Level Strategies Main Industries The automobile industry is where Honda Motor Company experiences intense competition. According to Moore (2022), the automotive sector is anticipated to rank as the third-largest industry globally, making a significant contribution of 12% to the GDP. The Honda Motor Company is a prominent multinational corporation based in Japan, recognized primarily for producing motorcycles and automobiles (Honda Motor Ltd, n.d).. In addition to its primary operations in the automobile and motorcycle industries,

Honda produces various supplementary goods, including garden equipment, personal watercraft, marine engines, power generators, and other related merchandise. What business-level strategy is the company pursuing in this industry? Why? Throughout its history, Honda has consistently pursued a differentiation strategy within the automobile industry. Honda effectively utilizes a fundamental capability using associated diversification (Kennedy et al., 2020). Honda employs a hybrid strategy, which entails the integration of differentiation and cost leadership to attain a competitive edge and meet the demands of its customers (Honda Motor Ltd, n.d). Honda effectively reduces costs by implementing efficient manufacturing processes and cultivating enduring partnerships. What corporate-level strategies is the company pursuing? Why? Honda's corporate-level strategies encompass the augmentation of corporate value using a substantial increase in sales across its three product lines, achieved through expedited innovation throughout the organization, encompassing manufacturing, research, and development. Honda places a significant emphasis on R&D endeavors aimed at developing novel technologies and enhancing their vehicle offerings (Kennedy et al., 2020). The global implementation of Honda's new manufacturing system represents a significant advancement in manufacturing innovation (Honda Motor Ltd, n.d).. The organization aims to enhance in-house resource efficiency by implementing the new system, which encompasses Honda's primary vehicle and component production facilities. Have there been any significant changes in its strategy recently? Why? Honda products demonstrate a prudent approach toward the future by prioritizing economic, environmental, and societal concerns. The automobile industry has been facing challenges because of external factors like the devaluation of the US dollars, the increase in oil prices, and political recessions (Moore, 2022). Honda is adopting future trends, such as promoting sustainability through minimizing the production and use of fossil fuels (Honda Motor Ltd, n.d). This is achieved through utilizing cutting- edge technology and a steadfast dedication to innovation, enabling the exploration of novel opportunities in mobility.

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References Kennedy, A. by R., Jamison, with E., Simpson, J., Kumar, P., Kemp, A., Awate, K., & Manning, K. (2020, August 14). 8.3 Diversification. Pressbooks.lib.vt.edu; Pamplin College of Business in association with Virginia Tech Publishing. https://pressbooks.lib.vt.edu/strategicmanagement/chapter/8-3- diversification/ Teece, D. J. (2018). Business models and dynamic capabilities. Long Range Planning, 51(1), 40–49. ScienceDirect. https://doi.org/10.1016/j.lrp.2017.06.007 Honda Motor Ltd. (n.d). Honda The Power of Dreams. https://global.honda/ Miller, K. (2019, December 19). Leadership Under Pressure: 3 Strategies for Keeping Calm | HBS Online. Business Insights - Blog. https://online.hbs.edu/blog/post/leadership-under-pressure Moore, S. (2022, November 24). The Current State of the Global Automotive Manufacturing Market. AZoM.com. https://www.azom.com/article.aspx?ArticleID=22236

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