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Essay / Research Paper Abstract
This is a 3 page paper that provides an overview of the recent financial performance of Honda and General Motors. The impact of managerial decisions on finances is explored, and ratios are calculated. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: KW60_KFhongmc.doc
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listed below. Citation styles constantly change, and these examples may not contain the most recent updates. Honda and General Motors: The Costs of Managerial Practice
, 11/2010 --properly! The United States automotive industry has certainly undergone some dramatic shifts ever since the first blows of the
recession were landed in 2007, and several major car manufacturers, including General Motors Company (GMC), were forced to accept billion dollar bailouts from the federal government in order to remain
solvent. Such bailouts were controversial, but were coupled with a sense of optimism: with financial pressures relieved, how would the once-great automotive juggernaut respond? Given that it would have to
pay back the billions of dollars it had received, many expected innovative strides forward from GMC that would capitalize upon the bailout investment and establish a new direction for the
company and the American automotive industry in general. Sadly, such innovations never came to pass, and the automaker continues to be outpaced by international competitors such as Honda Motor Co.,
Ltd., as evidenced by the financial data available from both organizations. Even a cursory analysis of the financial statements from both companies reveals that certain problems are afoot. As
the financial details from both companies are examined below, GMCs numbers can be somewhat deceptive. On the surface, for instance, they have more sales overall than Honda, but a calculation
of financial ratios such as profit margin and debt/equity ratio reveal that the company is profiting far less overall (General Motors Company, 2010; Honda Motor Co., Ltd., 2010). Much of
the problem can be attributed to poor financial management decision-making at GMC, which has continued to focus on large costly vehicles with poor gas mileage even in the face of
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