The global market is a tough nut to crack. A company or an organisation must be competitive enough in order to penetrate this market. Today’s competition for business supremacy has always been a battle. It’s a battle on who will be the best, a battle that the end winner will be determine by the organisation’s ability to compete against other competitors. Competition is like a bottle neck road, who ever goes in first always have the advantage against the other. Because the domestic and international market undergoes a never ending phase, an organisation must be capable to adapt to these constant changes. A company’s capacity to change should be given consideration. Discrepancy between an organisation capacity and the demands of its customers results in an inefficiency, either in under-utilised company resources or unfulfilled customers. Maybe, most of the organisations today want to initiate a management system and strategy that could maintain the organisations’ capability, strength and competitiveness. And this is important for the management teams and the organisations per se that they would always be open minded for changes that they might encounter in order to cope and adapt to the latest development that are happening within and outside their environment. Businesses are continuously evolving just to maintain progress and being competitive.
Like any other business strategies, assessment of product quality and development of a business has also been gaining recognition among contemporary businesses today. Generally, this business strategy especially to those operating in global setting is being applied by various organisations in order to assess their respective progress and development. In the administrative point of view, evaluation of business strategy is a sub-system that needs to be formulated, handled and assessed periodically in order to assure the attainment of the desired outcome; it is a process which measures the competence or efficacy of a business in a particular aspect. Basically, the product development strategy is one of the major priorities for all businesses. Hence, measuring and evaluating it is essential so as to assure goal achievement and constant growth.
In this paper, the concept and reasons behind the success of Mitsubishi in developing a good brand in Hong Kong as they produces and manufactures Electric Vehicles will be assessed. Basically, electric vehicles are vehicles that run off rechargeable batteries, electric motors and motor controllers. These cars produce no exhaust fumes and minimum pollution if it is charged from most types of renewable energy. The Electric car particularly the cars manufactured by Mitsubishi runs very quietly, do not have transmissions and save energy using regenerative brakes. The batteries in the electric car have to be recharged regularly but do not require any attention. Actually, Mitsubishi electric cars have two ways of recharging batteries, drivers can either charge it from a power grid at home or go to a shops recharging point. The charging time varies depending on the type of battery and how many kilowatts the outlet is. If the batteries were charging at a seven kilowatt – hour pack it would take about at an hour for them to be fully charged.
Despite that Mitsubishi electric cars are priced expensively, there are lots of consumers considering buying electric cars from them. Mitsubishi electric cars are known to be nature friendly, economical in terms of fuel consumption and consisting of safe driving features. With this, this proposed project will assess the reason behind the success of Mitsubishi in developing a good brand in Hong Kong as they produces and manufactures Electric Vehicles.