Based on the case study above, answer the following questions: 3. Analyze any FOUR external factors that influence MHI 4. Discuss any FOUR business strategies implemented by MHI to sustain its competitive advantage Note: Answer need with introduction, explanation, example and conclusion Mitsubishi Heavy Industry (MHI): The power to change"Twentieth-century industrial soceity was all about rationalized mass production and globalsupply change built around core mass production centers," explains Shunichi Miyagana,president and CEO of Mitsubuhi Heavy Industries (MHI), "What's coming next is distributedmanufacturing, shared service centers controlled autonomously by artificial intelligence andthe Internet of Things.The challenge Miyanaga faces is reshaping the engineering giant he heads to ensure that itemerges a winner from this new industrial revolution. How is he setting about the task?Basically, through a process of reforming and transforming - looking dispassionately at thefacts and numbers, then making the necessary changes from minor tweaks to radicalrestructurings.Since he took charge in April 2013, Miyanaga has certainly transformed MHI's companystructure, streamlining nine business divisions into just three - Power Systems, Industry &Infrastructure and Aircraft, Defence and Space - in a quest for greater clarity. "We've alsobeen reducing the number of product lines to concerntrate more on our customers' andsoceity's actual needs," he adds. In fiscal year 2016 alone, the company downscales orwithdrew from fields as divrese as injection molding machines, X-ray equipment and marinediesel engines.This sharpening of focus is accompanied by parrallel efforts to bulk up in other areas. In themedium term, Miyanaga's goal is to lift MHI's annual revenues by around one-quarter toaround $US 50 billion. The reason is because that's the level where the company will gainthe heft it needs to compete againts global giants like GE. To that end, Miyanaga hasorchestrated several transformative mergers and alliances around MHI's core competenciesof power generation and steel and metal production machinery. The 2014 creation ofMitsubishi Hitachi Power Systems (the merged thermal power generation divisions of MHIand Hitachi) and the 2015 estabishment of Primetals Technologies (a joint venture withSiemens AG providing plants, products, and services for the metals industries) are bothexamples of adding scale to increase competitiveness.Miyanaga is also seeking to reform MHI's core businesess to match the new realities of the21 century. That means innovating fast, marketing creatively and laveraging the power ofinformation technology. Mitsubushi Hitachi Power Systems, for instance is doing all theabove. To fend off competition, it has accelerated the launch of its next-generation gasturbine by a full 18 months. Human resources are being shifted to growth markets like Asia,and the Americas and ties are being built with trading companies and export credit agenciesto develop more avenues of customer approach. Meanwhile, to lock in long-term incomestreams, the company is reinforcing its ability to remotely monitor and manage power-generation facilities by deploying artificial inteligence, Big Data and the Internet of Things. Of course, manufacturing new materials requires new kind of machienary and technologicalexpertise. As the manufacturer of various components of Boeing's 787 Dreamliner, MHIcertainly has the know-how. Indeed, Miyanaga is using it as a springboard to establishcommercial aircraft manufacturing as a new core business. Scheduled for 2020, thecommercial launch of Mitsubishi Regional Jet (MRJ), Japan's first wholly made passenger jetwill meet the demand for small, comfortable and cost-and energy efficient aircraft for shorterroutes. At the same time, Miyanaga sees the MRJ as a stepping stone into related IT-centricfields such as airline cybersecurity and air traffic control systems.Founded in 1884, MHI played a key role in Japan's modernization. Perhaps one downside ofthat proud legacy is an excessive focus on the home market. Amid the globalization push,Miyanaga sees the United States as a uniquely promising country. MHI currently employs7,000 people in the United States. It is working with blue-chip partners from Catrepillar(forklift trucks) to Boeing (aircraft) and it manufactures everything from gas turbines inFlorida and Georgia to compressors in Houston. "The attractiveness of the U.S. as a marketwill only grow," declares Miyanaga bullishly. "Expanding and investing there is the naturalthing for us to do".In 2016, MHI adopted "Move the World Forward" as its tagline, a reference to movement asthe common theme of all the company's products in land, sea, sky and space. It alsoexpresses the commitment of MHI Group's 83,000 employees worldwide to keep innovating,globalizing and doing their best to serve customers. For more than 130 years MHI Grouphas channeled big thinking into innovative solutions - whether building power plants orlaunching space rockets. The world is always changing, and in MHI - a staple on theFortune Global 500 list since its inception - is responding to that change in positive andcreative ways.Adapted from Fortune dated August 1, 2017.

Introduction: The business environment is the total of internal and external factors that have a…

Based on the case study above, answer the following questions: 3. Analyze any FOUR external factors that influence MHI 4. Discuss any FOUR business strategies implemented by MHI to sustain its competitive advantage Note: Answer need with introduction, explanation, example and conclusion

Based on the case study above, answer the following questions: 3. Analyze any FOUR external factors that influence MHI 4. Discuss any FOUR business strategies implemented by MHI to sustain its competitive advantage Note: Answer need with introduction, explanation, example and conclusion

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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