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E2: describe and explain the objectives of the business

Extracts from this document...

Introduction

Introduction I am researching a tyre company called 'Bridgestone'. Bridgestone is a limited liability company and it is begun in Japan in 1931 by Mr. Ishibashi. He dreamed of supplying his nation's new automobile industry with tyres developed and manufactured with Japanese capital and Japanese expertise. His mission, which is to 'serving society with superior quality'. Bridgestone soon became the largest manufacturer of tyres in Japan and expanded its business in other markets in the world. Nowadays Bridgestone is expanding to more than 100 factories in 24 countries in the world. The growth of Japan's automobile industry subsequently propelled them into the top ranks of the global tyre and rubber industry. First of all, Bridgestone started to make tyres and after this success they started production on car components. The Bridgestone Group has diversified more and more, encompassing industrial products like polyurethane foam products, construction materials, parts and materials for electronic equipment, bicycles and sporting goods. Their ethos is to make life safer, more fulfilling and more fun but of course their major objective is to produce high quality products. The most important thing for Bridgestone is to earn the trust of their customers. So they never neglect marketing, manufacturing, researching and developing, providing service and using new technology. E1: Classify the business according to its ownership, and explain the benefits and constraints of this type of ownership Companies in the private sector organizations are separated into categories. These are; * Sole trader It is the most popular type of business which is owned by one person. Sole trader is self employed, because it is easier to set up than any other kind of business. There are lots of sole traders in UK. They have tendency to rely on banks for overdrafts or obtain credit from suppliers when they start their business, but it is difficult to borrow money because their funds are limited. ...read more.

Middle

Bridgestone are interested in satisfaction and reliability for their tyres so they improve these to survive in the market place (customer driven and technological driven). They change them to catch up with the speed of everyday change and to reflect to demand exactly. Management Styles It is a typical type of person whose behaviour carries out a management role over a period of time. Roughly this style is divided into three different areas, which is; * Autocratic - Management makes decisions. The manager is boss and is the only one who can make a decision. A manager gives just his decision to employees rather than asking them for their opinions. * Democratic - Management involves workers in decision making. Individuals are given responsibility to make decisions. Managers in this case will feel comfortable allowing employees to make decisions. Their understandings on employees are very good and their decisions are usually feedback on results. * Consultative - Managers are ones who try to consult employees before they make decisions. They consult employees before implementing decisions. Managers have skills of listening and the ability of creating the right channels to consult others. However it does not regularly feedback on results such as democratic style. In Bridgestone they use consultative style as their management style. It is the same at any levels and any section but depends on manager's personality. Manager in each section still have to communicate up and down the organisation channel and the flows of information is constant Business culture Every company has different cultures and it is influenced by objectives. Culture refers to the personality of an organisation, the shared beliefs of written and unwritten policies and procedures that determine the ways in which the organisation and its people behave and solve business problems. Business cultures in Bridgestone are; * Customer driven culture - All staff try to satisfy customers. They pay attention to improving all aspects of the company which relate to customers and product. ...read more.

Conclusion

This will lead to success. If they need more employees, they need to make more profit otherwise employees can not get the same amount of salary and if they can make more profit they can supply better goods and service to consumers. Nowadays because of the technology development, more people are cut down but if they stop cutting down employees and move them to other divisions which have more changes to meet customers in the market. It would be helpful for them to increase economy and achieve their objectives. Bridgestone is one of the best tyre companies in the world and their rival companies are Goodyear and Michelin. Goodyear aim also at high quality at production of products satisfying user needs. They too have a good brand image and have a good promotion of the market. Perhaps Bridgestone could merge with it and create a giant tyre business with a strong monopoly. This will reduce competitiveness and also means they can build upon the environmental factor. More money will be used in redesigning and development. Goodyear also could try new things such as producing moon tires for Apollo 14. They could also then look at using their product for a moon surface and they could look at their product on creating Artificial Hearts. This means they start to use their technology in more variety of places. As Bridgestone tried to produce product in different area and this will support and maintain development and obtaining consumers. The more goods made, the more profits are being made. It is important for Bridgestone to be reliable and at the of tyre technology. Michelin has been the best tyre company for 3 years. Their aim is quite similar to Bridgestone and it means they are aiming to be more environmentally friendly. However they have large area of land for raw materials such as rubber in developing country e.g. Brazil and Nigeria. As Michelin is the best tyre company, it would not be a good idea of Bridgestone merging with them, as Bridgestone and Goodyear are smaller businesses and they could work together. ...read more.

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