Takata air bag Case study Example | Topics and Well Written Essays - 1500 words

Takata air bag - Case Study Example The airbag industry has been witnessed as one of the high growth industry worldwide. The rapidly developing market of airbag includes South America, South-East Asia, Eastern Europe, China and India (Prasad, 2015). Since 2009, various safety measures taken by National Highway Traffic Safety Administration’s (NHTSA) has guided the automobile companies in the US to properly pass the side crash test which has further influenced the utilization of airbag safety equipment in the manufactured vehicles. The major manufacturers of the airbags within the global market include Autoliv, TRW, Delphi, Takata etc (Mattsson, 2015). Takata Corporation is a Japanese automotive parts manufacturer company which is one of the leading suppliers of vehicle airbag systems across the world. Apart from airbags the organization also deals in seatbelts, steering wheel system and child restraints system for a number of automobile companies. The organization was founded by Takezo Takada in 1933. Their major clients include Honda Motor Company, Toyota Motor Company and Nissan Motor Company. The organization has recorded annual revenue of approximately $4.5 billion by the end of 2014. Currently, the organization is recalling a large number of vehicles which as using Takata-made airbag system due to the recently found defective functions of the product. According to the current data the organization is recalling near about 34 million vehicles to replace their defected airbag system (Klayman, B. 2015). The vision statement of the organization defines their motivation towards the continuous development and innovation. The vision of the organization provides immense importance towards the preciousness of life while developing and designing any safety product (Takata Corporation. 2014). Situational analysis can be described as the collection of different methods that can be utilized by the management of different organizations to analyze their external