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  TOV News > Summary of 2006 Mid-Year Speech by CEO Takeo Fukui > > Re: Not driven by profits...

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garfield134
Profile for garfield134
Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 08:12
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I was first attracted to Honda because they are an engineering-driven company rather than profit-driven. Then, they added the "Safety for Everyone" philosophy. The level of safety equipment and designs should not be driven by the sticker price on the window. This speech summary by Takeo Fukui further reinforces my decision to turn my back on Detroit. I was a Ford fan for years, but no more. Even if Detroit implemented only 25% of what Honda plans to accomplish in the next few years, I predict that they will be still sliding towards extinction. Successful companies cannot survive driven by profit goals alone. Satisfy the customer and the profits will come.
BobCat
Profile for BobCat
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 09:20
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Japanese companies have an ability to look ten and twenty years down the road and work toward long-term goals. This is something the U.S. big three either don't understand or, more likely, powerless to execute. Short cited commitment to meeting quarter-to-quarter expectations of greedy shareholders is a path to eventual failure. Build great products and customers will follow and be long-term loyal customers. That seed was planted by Honda (and Toyota) long ago.
osaze
Profile for osaze
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 09:38
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I am too am a patriot like the next red-blooded American, but when in 2002 my lease ran out on my 1999 Olds Intrigue(I was a loyal Olds/GM fan for 11 years), there was nothing American worth worth putting money on from an automobile prespective, at least this is what my research concluded. I was looking for a really great sports sedan in the 30-35K range, and Acura just seemed to fit. In early 2002 the TL-S was king, almost no one had 260 HP in this class(that change rather quickly about 1 year later as the HP wars ensured among the Japanese car producers). But what attraced me most to Acura was the price and the slew of standard features you gazillions for with other luxury brands, the build quality, the 5AT, 260 HP and handling characteristics not found in anything American that I've ever driven. The test drive on the TL-S sold me instantly. I also chose Acura over Lexus, BMW and Audi, because of the value for dollar quotient. Lexus and BMW over charge just for thier name and Audi, well, is just Audi (I do love the A6 and RS4). But still, not a good investment in the long term due to high-maintainability costs. In the end, Acura is affordable to maintain beyond the warrany period, even at the dealership. GM for me is out of the picture totally. GM is DEAD. Well not really, Chevy and Cadillac will survive, but maybe not under the GM name. In the final analysis though, with Acura having had time to disgest what everyone else has produced so far in the luxury car segment, the best is yet to come from Honda/Acura in terms of drive-train components, engines, and transmissions, and some other goodies. These days car selection is just a matter of good old-fashion common sense, not patriotism.
Dren
Profile for Dren
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 10:30
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BobCat wrote:
Japanese companies have an ability to look ten and twenty years down the road and work toward long-term goals. This is something the U.S. big three either don't understand or, more likely, powerless to execute. Short cited commitment to meeting quarter-to-quarter expectations of greedy shareholders is a path to eventual failure. Build great products and customers will follow and be long-term loyal customers. That seed was planted by Honda (and Toyota) long ago.


I have to agree with you. This can be seen in the economic decisions by the US government as well. They are all concerned about the "now" usually making decisions that hurt the future. The same could be said about most consumers in the US. Buy now, somehow figure out how to pay for it later. The Japanese save on average a lot more than Americans.

incubus
Profile for incubus
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 12:15
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osaze wrote:
I am too am a patriot like the next red-blooded American, but when in 2002 my lease ran out on my 1999 Olds Intrigue(I was a loyal Olds/GM fan for 11 years), there was nothing American worth worth putting money on from an automobile prespective, at least this is what my research concluded. These days car selection is just a matter of good old-fashion common sense, not patriotism.

glad to see you are not one of the closed-minded americans that think if they dont buy and "american car" that they are betraying the country. In reality, no car is "american" when half of it is assembled out of the country and the parts to build the car are from 35 different countries. In my opinion I would rather buy a car built by a US citizen from a japanese company than I would a car built by a mexican that is owned my a US company. It just makes sense, support the US' middle class rather than the US "pockets already bloated" upper class.

RyanDL
Profile for RyanDL
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 12:44
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garfield134 wrote:
I was first attracted to Honda because they are an engineering-driven company rather than profit-driven.

I'm sorry, but this statement bugs me. Of course Honda is a profit-driven company. Actually, they're revenue driven. How else could they stay in business, make money (that is reinvested), and turn-out quality products for you and I to enjoy? Sure, they are an excellent engineering company, but you have to have a steady revenue stream to engineer new products.

Ryan

garfield134
Profile for garfield134
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-17-2006 13:43
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My point is that, and perhaps I am not spelling it out clearly, is that Honda's profits are the result of their engineering and manufacturing savy. Every company needs to turn a profit, otherwise, why be in business in the first place? Because Honda is building a quality, durable, well-engineered product, they are in the place they are today. They deserve all the profits and revenue they are making. I have an issue with companies that look out for their share holders and themselves first by building a product as cheaply (poor quality) as they can and then pedaling it to consumers for the most money possible and counting on volume for profit. Will this company get a repeat customer? Not from me, they won't. As the saying goes, "Screw me once, shame on you. Screw me again, shame on me."


HondaJet
Profile for HondaJet
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-18-2006 02:29
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I highly disagree with BobCat's statements with regards to Toyota. The Toyota Company aggressively uses the SIX SIGMA principles of making customers first with the expense of the company workers in order to INCREASE QUARTERLY PROFITS. Honda is different.
danielgr
Profile for danielgr
Re: Not driven by profits... [View News Item]    (Score: 1, Normal) 05-18-2006 03:37
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RyanDL wrote:
garfield134 wrote:
I was first attracted to Honda because they are an engineering-driven company rather than profit-driven.

I'm sorry, but this statement bugs me. Of course Honda is a profit-driven company. Actually, they're revenue driven. How else could they stay in business, make money (that is reinvested), and turn-out quality products for you and I to enjoy? Sure, they are an excellent engineering company, but you have to have a steady revenue stream to engineer new products.

Ryan


I guess that both things are very strongly linked, and of course a company can only exist if the profit is there, but ... I understand what he is saying.

When approaching business you can always think first "how can I make more money?", which normally comes with the time particle "now", i.e. short term. And let that motive be the guideline of your company.

But you can also focus on the product, focus on bringing better products to the market, and that if you do so, your profits will necessarily rise steadily. Normally, these view is also accompanied from more long-term plans, as many in this forum have already posted.

Of course if you do great products you are supposed to sell them well and make profits but..., the thing is, when the engineers sit on a table to think about a new car or product, what are they thinking at: "how can we make more money?", or "how can we make a great car?".

I am also among those who believe that Honda engineers are more often among the second ones I described... Might be wrong.


 
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