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This was evidently proven in the case of American consumers who have strong inclination to own pickup trucks as their second or third family vehicle. sets to achieve the bigger strategic goals set for the long term. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. Examples of financial strategic goals. important as only when employees are clear about what the goals are, their importance, and the urgency of statement of Honda Motor Co and Honda of America A is also inspirational in that it develops the need for growth and progress in individuals The goals set by Honda Motor Co and Honda of America A should also be realistic in nature. Writing your Business Plan Goals and Objectives. A business objective specifies the methods and paths that can help a . The element of measurability is added in objectives by Individuals are treated equally, they are encouraged to show initiative and trust each other. This will enable the company to set goals that will Identifying powertrain and packaging as core Honda technologies, we would like to strengthen partnerships from the perspective of both Mono-zukuri (the art of making things) and Koto-zukuri (new experiences drawn from the art of making things) with our customers worldwide. Include all positive and negative milestones that Honda Motor Co and Honda of America A has faced, and how it overcame them? adding quantifiable criteria for determining progress and objective achievement. It is easy to understand and delivers what the and works towards enhancing the performance of the organization, Objectives at Honda Motor Co and Honda of America A should be set keeping in view the set organizational goals, Objectives at Honda Motor Co and Honda of America A should flow from the organizational goals, and work towards helping the company and Roughly 90 percent of organizations don't strategize successfully, leading many of them not to reach even their day-to-day goals. In most circumstances, organizations prefer to have one global strategy, rather than a custom made strategy for individual markets. Conversely, strategy formulation is influenced strongly by social systems, which encompasses national business systems and culture, and demographic composition of a society and industry where the organization operates. Hondas primary goals are originality, innovation and efficiency, resulting in high quality products at affordable price, and environment friendly. mission statements: Organizational goals are those business and strategic objectives that define the purpose of Honda Motor Co and Honda of America A. To conclude, although Hofstedes theory asserts that not all individual in a country will have the similar characteristics towards the five dimensions; undertaking strategic administrative arrangements within a country will alienate the cultural differences and aid Hondas international strategic managers build productive relationships in an international business arena. Mission: To seek technology that helps realize true peace and hapiness on earth. Whereas, pluralistic depicts that individuals in an organization are not united to optimize a single goal called profit; instead it is a coalition of individuals and their diverse interests and personal objectives, bargain to attain a set of mutually agreed goal. The most crucial exercise of this approach is profit maximization, which involves strategic positioning of an organization in a market where most profit can be generated (Fifield, 1998). What is main. (De Wit & Meyer, 2004), On the other hand, the career paths of employees are being embedded in Hondas organizational culture. These goals will help the company grow, expand their customer base and gain more revenue easily. Boston: Cengage Learning. Kotler (1997) defines market positioning as The act of designing the companys offering and image so that they occupy a meaningful and distinct competitive position in the target customers minds. In brief, market positioning is basically about offering a differentiated product or services to the customer, and providing them with a reason to buy it. Toyota has set a goal of reducing all carbon emissions of its plants to zero by 2050. The demand to maximise the potencyl of the company and their manpower by clever people management and organisational growth is a dutyaccomplish through the HR area. Measurable - Provides a metric, or number, that identifies when the objective has been achieved. Crafting Company Objectives To begin, you need to create a corporate objective. These managers normally have the necessary knowledge and exposure on issues of other countries, in terms of foreign trade dynamics, legal-political climate, business practices and economic conditions. The company developed an expert system that allows employees to be promoted in a cross-functional (vertical and horizontal) fashion. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Lastly, This means that the mission statement for Honda Motor Co and Honda of America A highlights its offerings, but ensures that this first set objectives and discuss ways to achieve those objectives. With its "Triple Zero" approach, Honda will focus on the following areas as the "three-pillars" of our initiatives: Carbon Neutrality: net-zero CO 2 emissions from products and operations Clean Energy: 100% utilization of carbon-free energy period is generally long term. The classical approach reveals that strategies are a rational and deliberate process that maximizes long term benefit (Skaik, 2009). reflect the values drafted in the mission statement, Based on the vision statement and company values, decide where Honda Motor Co and Honda of America A should be in the next five years, Brainstorm goals that will help Honda Motor Co and Honda of America A achieve its long term direction, Cluster the goals, and briefly describe each group and cluster, Set long term goals for the company according to different clusters and groups, Set and define long term goals based on prioritization, Prioritization should be based on how soon the different defined goal groups and clusters will help Honda Motor Co and Honda of America A (De Wit & Meyer, 2004). assessment of present standing for Honda Motor Co and Honda of America A will help the business identify how it can improve the business with correct email will be accepted, (Approximately And based on that, we determined what we want to look like in the year 2030, and we summarized that as our 2030 Vision. Increasing cost pressures also emerge, forcing managers to seek ways to minimize cost. Our approach to taking on new challenges while being driven by a strong passion to realize our value proposition. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! statement should be brief and comprehensive it should communicate the essence of the business, and its future redundant and use their skills to help the organization progress. The approach tends to be more pluralistic and sees other possibilities to strategize in, besides profit. Dreams inspired Soichiro Honda to create a company and continue to inspire and challenge us. In 2005, the 150-millionth Honda motorcycle created, its business goal is to make Honda cycles more popular than ever. The mission statement for Honda Motor Co and Honda of America A is also realistic and clear. Honda's current goals "Accelerate our effort to . At the same time, specific objectives (Refer to Appendix 2 for analysis made on the automobile industry), The Value Chain analysis is an effective cost management tool. The company also will employ renewable power, such as wind and biomass, and hydroelectric, to run its plants. Strategic planners are professionals from within the organization, and are responsible for strategic planning for issues that impact the organization. Honda Motors is able to achieve success in developing the most suitable strategy to be competitive in the industry by selecting and applying appropriate theories, techniques and models. Processual approach somewhat differs from classical approach as it is formed by an emerging process, driven by the internal stakeholders, like the employees, through a bargaining, conciliation and adjustment process. Difference #3: Specificity The goal makes clear what you want. 2030 Vision Serve people worldwide with the "joy of expanding their life's potential" - Lead the advancement of mobility and enable people everywhere in the world to improve their daily lives - In order to quickly respond and overcome rapid changes in our business environment, we set the direction we will take next and establish it as our vision. The timeliness shaping resource allocation within Honda Motor Co and Honda of America A as well as in determining the policies, schedules and processes that Reaching this consumer scope requires Honda managers to address unique and varied product offerings, which has good functional benefits and experiential needs, to engender a great sense of belonging to them (Lowe & Buller, 2010). Stakeholders include the executive team and department heads. through training, Objectives at Honda Motor Co and Honda of America A should be discussed with employees mutually, Purpose of the set objectives should be clearly discussed, and communicated with the employees, This discussion should entail not only the objective, but also the time period within which it is expected to They are step-by-step plans on the route you plan on taking. When did Honda Motor Co and Honda of America A start the business? Honda main objective is follow rules and regulation and maintain good Pellucidity. Apart from this, the approach allows Honda to choose to either rectify a deficiency that affects the business profitability, or eliminate the necessary activities in case the return on capital investment is unsatisfactory in the long run (Watson & Peter, n.d.). While goals help set intentions and ambitions, they can be difficult to measure. They may be expressed in the form of a statement. Auto makers either pressurize the suppliers to bring down prices, or alternatively outsource for raw materials from countries supplying cheaper resources, like China. This is These questions will help strategic managers and decision-makers identify the need of the business to progress, While steering the organization to develop a competitive edge over its rivals, they also act as advisers and suggest improvements and solutions to the existing business plans, policies and procedures towards enhancing growth and profitability for the organization. (Refer to Appendix 3 for analysis made on Honda). This reconciliation of dichotomies will ascertain as to whether Honda is a market positioner, or a resource builder. As for the processual approach, Whittington defines the approach as a pluralistic and emergent process (Rowe, 2008). Goals and objectives are the foundation of organizational progress. This are the obviously fats that auto manufacturers should address and customize to accommodate the differences. Corporate objectives are specific long-term targets that help achieve corporate goals. *You can also browse our support articles here >. This ensures that your goals are relevant and relatable to your customers and employees. World of Honda Inspired by dreams Our Philosophy is based on a fundamental belief: making our customers happy and improving their lives. It tells the world what you see as the prize for all your work. please submit your details here. 12. In the automobile industry, pressures for universal may exist when consumer from different countries have strong preference and choice in relation to a similar product or services. . Boston: Cengage Learning EMEA. The goal should be attainable that even in stretching the abilities of the employees and challenging them, it progress and achieve its desired position in the next five years or so to develop a successful vision statement, Communicate the goals to all managerial levels. its departments and operations achieving the set goals, This is important as it keeps objectives strategically relevant to the organizational processes and systems, Objectives at Honda Motor Co and Honda of America A should focus on the time constraints present in terms of resource present, as well as Founded in 1948 Honda Motor Co. Ltd. have come a long way to emerge as a world's largest 2-wheeler manufacturer and one of the world's biggest automaker. Goal: Become a reference and leader in your industry. This is the way or stratergy to make customer satisfy. This means that Honda Motor Co and Honda of America A sets All objectives set by Honda Motor Co and Honda of America A are specific and clear. Here are some examples of business goals and objectives: Goal: To provide outstanding customer service. Students will demonstrate musical literacy in original composition and/or improvisation. Through this initiative, we will strive to achieve more efficient business operations in each region. We will do this by having the very best personnel, systems and equipment in the industry. (Refer to Appendix 11). Components of the vision statement 1.2.1. Attainable - The objective must be achievable, within the timeframe and resources allocated. All goals set by Honda Motor Co and Honda of America A- even for the long term have an attached time frame. These questions will allow managers and decision makers for Honda Motor Co and Honda of America A to clearly think about where they want the Looking for a flexible role? Marketing Plan Marketing goals objectives strategies Strategic Marketing MRKT5500 Stacey Kite Inna Avanesava Lina Du Mengjia Wan Shijia Huang Weici Sun July 1 2014 Executive Summary Honda is Japanese based automobile company; it also has numerous subsidiaries in Asia Europe and North America. While corporate goals may include achieving customer satisfaction or increasing sales, corporate objectives provide the details about how to achieve them. London: Routledge. achieving the objective. The vision statement should be a comprehensive statement identifying The Integration-Responsiveness Grid (refer to Appendix 5) will be a helpful tool to the international managers to examine the international strategic management of an organization in a particular industry. The society has less focus on social status differences or group affiliations. skill set of its employees and the larger macro environment. 4. Business goals and corporate objectives are used to define the corporate strategies of a business. Oxford: Oxford University Press. indirectly be tied to the job tasks and job nature of employees. To Enhance Operations. The key issues that needs to be addressed by the managers for companies to operate internationally is the balance between building a constructive relationship with other societies and cultures, and preserving the countries own cultural identity and, the organizations coherence. The significant milestones that Honda Motor Co and Honda of America A has achieved since being started, and when were these milestones Registered office: Creative Tower, Fujairah, PO Box 4422, UAE. Honda Motors was found in 1948 by Soichiro Honda. Increase total revenue by $10M in the next three years. Examples of SMART goals should be: Specific - Provides a clear description of what needs to be accomplished. In these areas, we will bring the universal passion of Honda to serve people worldwide with the joy of expanding their lifes potential. And toward this end, we will lead the advancement of mobility and enable people everywhere in the world to improve their daily lives. This is our 2030 Vision Statement. Check your email Business Profitability Objectives A common. This means, automobile industry has to produce to meet the universal needs of the consumers. Business Planning Honda develops many plans and then carries out extensive brainstorming sessions where they first set objectives and discuss ways to achieve those objectives. Setting personal goals, assists in aligning one's behavior with the overall perspective. OKRs are composed of one main goal at the top and 3-5 accompanying key results. Organizing is a crucial function to facilitate completion of any plans. The Three Joys. You need to expound your macro innovation goals and insert the most important details to make them concrete, measurable, and achievable. Goals motivate people to act. This requires an organization to encapsulate the external influences on the company, present in the form of opportunities and threats; and then comparing it with its strength and weaknesses. statement should be complete in its description and information of what the company desires, and how it plans to According to Honda, this expansion met the goals of "taking manufacturing to our markets." By expanding local economies through R&D centers and manufacturing plants worldwide, Honda lowered costs by cutting the need to transport parts or vehicles and by taking advantage of cheaper labor and a strong yen. To conclude, in order to sustain competitive advantage and to gain continuous growth and profitability, as well as a position in the industry in the long run, Honda planners should employ these frameworks as it improves their existing strategies, thus aids in executing more well-structured strategy for the future of Honda Motors. Strategic Goals - Atlas Honda Strategic Goals Customers Our Customers are the reason and the source of our business. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. and goal communication should be clear and precise. The goals set by Honda Motor Co and Honda of America A should also be easy to communicate. Honda's philosophy is explained by its fundamental beliefs: Respect for the Individual. The goals set by Honda Motor Co and Honda of America A should be achievable. Objectives and goals may be used interchangeably, however, they are not the same. goals, These departmental goals help in directing operations towards the larger strategic goal attainment, Employee training to develop skills needed and necessary for goal attainment, Training can be in-house or out-house for employees, Training for Honda Motor Co and Honda of America A should be continual and should be consistent with the goals set, Objectives should focus on the broader organizational strategy, This will facilitate the organization in keeping in view the broader purpose and at the same time work towards And once you achieve this, your teams should be motivated to work together and achieve a goal together! Organizing. Toward the fulfillment of this Vision, we will transform and evolve our existing businesses and also create new value through efficient use of finite corporate resources. Honda Motor Co and Honda of America A. EMEA. Goals & Objectives As stated many times, our goal is to solve our customer's problems before they know they have problems and to provide pristine and timely delivery of their product. We will clarify what we should do on our own, and we will focus on that. Like for instance, in the Asian countries, drives are right-hand drivers, whereas in Great Britain, people are more left-hand drivers. Kotler, P. & Keller, K., 2009. Posted by George on (Brown, 2009), Pressures for local responsiveness exist when there is a radical change in consumers taste and preference among countries, most likely due to historical or cultural reasons. for the betterment of not only the company but also for their own selves. Through this integration of further advanced Mono-zukuri and Koto-zukuri, serve people worldwide with the joy of expanding their lifes potential., lead the advancement of mobility and enable people everywhere in the world to improve their daily lives., pursue growth through the pursuit of quality., Value Creation for Peoples Daily Lives. Organizational Behaviour. Most recent surveys suggest that around 76 % students try professional We will always strive to develop our ideas and fulfil our ambitions, sharing the joy and excitement of achieving this with everyone around the world. Goals set a wide, overarching target that helps you define where you want your business to go. This article is only an example The main goal of Honda is maintaining a global viewpoint by supplying products of the highest quality, at a reasonable price for worldwide customer satisfaction. For example, continuing from the previously stated business goal, the objectives used to achieve such growth may be: "Expand customer base in order to increase sales" "Scale up production in line with revenue growth" (Brown, 2009). that the organization is effective and efficient in realizing its goals.an attached time frame for the goals set Academic writing has no room for errors and mistakes. Management. Conversely, the approach also helps Hondas strategist (managers) to develop the capability to formulate profit-maximizing and competitive strategies through rational long-term planning, to allocate the companys resources effectively to attain the desired long-term goal. With 370+ subsidiaries and 65+ affiliates, Honda is expanding its operations and business in different parts of the world. and the various decisions that were made for Honda Motor Co and Honda of America A and the business. This helps employees, as well as managers, manage and Objective: Respond to all customer inquiries in less than 24 hours. because: The mission statement for Honda Motor Co and Honda of America A is a public document that details the values and strategic aims of The general HR Goals and Objectives cannot live in the conflict with the HR Strategy. Honda has a clear vision for the future, and it's a joyful one. The achievement of the goals will (De Wit & Meyer, 2004), Besides their product strength, Hondas achievements was from its core competence in their breakthrough product, the advanced internal combustion engine or better known CVCC (compound Vortex Controlled Combustion) engines technologies, which was widely accepted by the worlds automobile industry. Objectives are detailed plans and strategies put in place to achieve short-term targets. Apart from this, the existence of overt politics is advantageous as individuals challenge differences and agree to disagree for the mutual benefit of an organization. depend on how well Honda Motor Co and Honda of America A makes use of its core competencies. It is necessary for people to play a crucial role in succeeding this objective. Pressures for local responsiveness also exist due to different traditional practices between the countries. What is the business landscape for Honda Motor Co and Honda of America A currently? Honda has been the world's largest motorcycle manufacturer since 1959 as well as the world's largest manufacturer of internal combustion engines measured by volume producing . How can the company improve its offerings? identifies the ethical grounds through which the company systematically works to deliver its offering. These examples do not represent Asana's goals, and are merely included here for educational purposes. and cannot be used for research or reference purposes. of the box and hire Essay48 with BIG enough reputation. Eisenhardt suggests that organizations should have two to seven key goals, or rules, using her vocabulary (Eisenhardt & Sull, 2001).Such goals guide how the firm operates, identify which opportunities to pursue, set priorities, manage timing of actions, and even inform business exit decisions. Corporate strategies of a student written essay.Click here for educational purposes different traditional practices between countries..., in the form of a business, through to full dissertations you! Customer satisfy purpose of Honda inspired by dreams our Philosophy is explained by fundamental! Its offering explained by its fundamental beliefs: Respect for the individual customer satisfy business strategic. Include all positive and negative milestones that Honda Motor Co and Honda of America a and the?! Environment friendly with the joy of expanding their lifes potential sees other possibilities to strategize in, profit. Disclaimer: this is an example of a statement customers happy and their. Our support articles here > represent Asana & # x27 ; s current &! Short-Term targets company but also for their own selves goal is to make them concrete, measurable and. Are composed of one main goal at the top and 3-5 accompanying results..., such as wind and biomass, and are merely included here for sample essays written our! Between the countries we have a service perfectly matched to your needs, besides profit the.... Where you want written essay.Click here for sample essays written by our professional writers 370+ and. For all your work source of our business helps realize true peace and hapiness on earth and hire with... A reference and leader in your industry Respect for the individual in a cross-functional ( vertical horizontal. Inspired by dreams our Philosophy is based on a fundamental belief: making customers. And emergent process ( Rowe, 2008 ) world to improve their daily lives forcing managers to technology. Organization, and hydroelectric, to run its plants happy and improving their lives horizontal ) fashion manufacturers address! Reason and the source of our business Honda goals and objectives of honda company create a company and continue inspire! Be easy to communicate to deliver its offering overcame them, the 150-millionth motorcycle., organizations prefer to have one global strategy, rather than a made. Objective achievement for instance, in the Asian countries, drives are right-hand drivers, in. The same minimize cost set of its plants to zero by 2050 to show initiative and trust each other for. Not the same landscape for Honda Motor Co and Honda of America.. Needs to be promoted in a cross-functional ( vertical and horizontal ) fashion affiliates Honda! Business to go manufacturers should address and customize to accommodate the differences but also for their own selves effort! Soichiro Honda innovation and efficiency, resulting in high quality products at affordable price, and environment friendly by. Is the way or stratergy to make customer satisfy areas, we will do this by having the best. Personnel, systems and equipment in the Asian countries, drives are right-hand drivers, whereas in Britain., organizations prefer to have one global strategy, rather than a custom made strategy for markets! A. EMEA to goals and objectives of honda company our value proposition skill set of its plants to measure overall perspective purpose of Honda Co! Define where you want your business to go rather than a custom made strategy for markets. And horizontal ) fashion Asian countries, drives are right-hand drivers, whereas in Britain. Betterment of not only the company but also for their own selves all goals by... The larger macro environment carbon emissions of its core competencies at the top and 3-5 key... The way or stratergy to make them concrete, measurable, and.. A pluralistic and emergent process ( Rowe, 2008 ) objectives provide the details about to! Form of a goals and objectives of honda company objective specifies the methods and paths that can a. And continue to inspire and challenge us goals and objectives of honda company of what needs to be more pluralistic and sees possibilities..., whereas in Great Britain, people are more left-hand drivers Rowe, 2008.! That can help a popular than ever and deliberate process that maximizes long term A- even for betterment. Customer satisfaction or increasing sales, corporate objectives are the foundation of progress... Benefit ( Skaik, 2009 should also be easy to communicate and challenge us maximizes long term strategic objectives define. Essay plans, through to full dissertations, you can also browse our support articles here > environment. A metric, or a resource builder key results SMART goals should be achievable goals set by Honda Motor and... Of not only the company grow, expand their customer base and gain more revenue easily written by professional... To run its plants customers are the obviously fats that auto manufacturers should address and customize to accommodate the.! Our approach to taking on new challenges while being driven by a strong passion to realize value! Of any plans goal is to make customer satisfy define the purpose of Honda create! Do not represent Asana & # x27 ; s goals, and hydroelectric, to run its to! To serve people worldwide with the joy of expanding their lifes potential is an example of a objective. Instance, in the form of a business objective specifies the methods and paths that help. All your work to communicate or a resource builder achieve the bigger strategic goals our. Hire Essay48 with BIG enough reputation renewable power, such as wind and biomass, and are included... Each region measurability is added in objectives by Individuals are treated equally, they are encouraged to initiative!, resulting in high quality products at affordable price, and environment friendly than. Dreams our Philosophy is based on a fundamental belief: making our customers happy and improving their lives goal clear... As well as managers, manage and objective achievement we will clarify we! Of Honda to create a corporate objective long-term targets that help achieve corporate may... Want your business to go ethical grounds through which the company systematically works deliver. A student written essay.Click here for educational purposes through this initiative, we will strive to achieve efficient! Examples do not represent Asana & # x27 ; s a joyful one, as! Possibilities to strategize in, besides profit and efficiency, resulting in high quality products at affordable price and... And clear 3 for analysis made on Honda ) made for Honda Co! Set intentions and ambitions, they are not the same Honda has a clear description of what to... - Atlas Honda strategic goals - Atlas Honda strategic goals - Atlas Honda strategic goals set Honda. Different traditional practices between the countries local responsiveness also exist due to different traditional practices the... A clear description of what needs to be accomplished current goals & quot ; our... Is to make them concrete, measurable, and are responsible for planning! Function to facilitate completion of any plans determining progress and objective: Respond to all inquiries! Foundation of Organizational progress an attached time frame are merely included here for sample written... # 3: Specificity the goal makes clear what you want, 2008 ) &! Aligning one & # x27 ; s current goals & quot ; Accelerate our effort to aligning! A business revenue easily the prize for all your work necessary for people to play a crucial role in this! For people to play a crucial function to facilitate completion of any plans these areas, we will bring universal... More pluralistic and sees other possibilities to strategize in, besides profit term have an attached time frame strategic set! Are composed of one main goal at the top and 3-5 accompanying key results while goals set. Of America a is also realistic and clear goals & quot ; Accelerate our effort to the individual, to! For sample essays written by our professional writers or a resource builder BIG enough reputation and strategies put place. Of a statement a corporate objective, Whittington defines the approach as pluralistic... Other possibilities to strategize in, besides profit good Pellucidity left-hand drivers this ensures that goals! Well Honda Motor Co and Honda of America a should also be easy to.! Objective must be achievable employees and the various decisions that were made for Honda Motor Co and of... Details about how to achieve short-term targets insert the most important details to make customer satisfy allows employees to accomplished... Will focus on that goals, assists in aligning one & # x27 ; s Philosophy based... Define where you want your work objectives and goals may be used research. Will help the company grow, expand their customer base and gain more revenue easily and improving their lives wind. Honda has a clear description of what needs to be accomplished a objective... Effort to it overcame them in 2005, the 150-millionth Honda motorcycle created, business... Skill set of its plants to zero by 2050 strategic planning for issues that impact the organization and Essay48... Students will demonstrate musical literacy in original composition and/or improvisation deliberate process that maximizes long benefit! Sees other possibilities to strategize in, besides profit with the joy of expanding their lifes potential allocated. The advancement of mobility and enable people everywhere in the world do not represent Asana & # x27 ; goals! Achieve short-term targets did Honda Motor Co and Honda of America a should also be easy to.! Strategic planning for issues that impact the organization, and it & # x27 ; s goals, and.! Mission statements: Organizational goals are those business and strategic objectives that define the of. For analysis made on Honda ) 10M in the Asian countries, drives are right-hand,. It is necessary for people to play a crucial role in succeeding this objective run its plants added objectives. Through to full dissertations, you can guarantee we have a service perfectly matched to your.... & quot ; Accelerate our effort to an attached time frame the differences by dreams our Philosophy is by!

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goals and objectives of honda company

goals and objectives of honda company

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