1.0 Introduction to Bridgestone Company
According to Bridgestone (2023), the Bridgestone Corporation is a Japanese multinational tire producer with 181 production facilities in over 24 countries, including Belgium, France, Canada, Japan, India, China, etc. Bridgestone Corporation was founded in 1931 by Shojiro Ishibashi. The firm was the largest tire manufacturer in the world as of 2021, followed by Michelin, MRF, Goodyear, Pirell, and Continental (Verified Market Research, 2021). The business also sells various other goods, such as conveyor belts, golf equipment, rubber track and pads, hydraulic hose, seismic isolators for buildings, and tires (for vehicles, aircraft, passengers, and motorbikes) (Bridgestone, n.d.). The company is involved in the auto and truck parts sector. Craft (2023) estimates that Bridgestone’s stock price was ¥5 K, its market capitalization was ¥3.4 T, and its revenue was ¥4.2 T as of 2023.
2.0 Bridgestone’s Innovation Addressed
Bridgestone is making advancements in tire development and design. Bridgestone (2021) asserts that the company is expanding beyond selling tires by offering mobility solutions. These comprehensive strategies include smart sensing tires that communicate vital information with the help of its cutting-edge AI-powered algorithms that can forecast and avoid mechanical problems. Additionally, the company offers simple consumer benefits through the MOBOX, a mobility solution, through a customized tire and auto servicing subscription. Lastly, the company’s Webfleet Solutions links drivers, vehicles, and enterprises with more than 50,000 companies globally (Bridgestone, 2021).
3.0 Bridgestone’s Initiatives
Within the past two years, Bridgestone has developed the following initiatives; partnership with AWS, the “What Really Matters” brand platform, and the “Bridgestone E8 commitment.
3.1 Present Evidence
3.1.1 Partnership with AWS
Bridgestone (2022) states that the company has a working relationship with EWS centered on application development and introducing new client solutions. Bridgestone will use the capabilities of Amazon Web Services (AWS) through this agreement to quicken the advancement of its social channel and introduce new service offerings, such as a services marketplace to assist fleet clients and last-mile deliveries. Additionally, the partnership will increase Bridgestone IT processes’ productivity to support digitalization and the incorporation of upcoming mobility solution architectures. Bridgestone will also move its North American data centers to Amazon and keep developing a new system, application, and product (SAP) environments on AWS, which will assist the business in becoming carbon neutral by 2050 due to decreased energy use and hardware asset waste.
Figure 1: Bridgestone partnership with AWS
Source: Financial Express (2022)
3.1.2 Partnering with Leo Burnett for the launch of the “What Really Matters” brand platform
Bridgestone unveiled a new brand platform tied to the global Bridgestone E8 Commitment principles, according to Bridgestone Americas, Inc. (2022), demonstrating the company’s dedication to fostering a more ecological environment for future generations. Its new “What Really Matters” platform focused on multi-channel engagement aligns with the company’s transformation from a pioneer in tires and rubber to an innovative provider of greener mobility solutions. Significantly, “What Really Matters” will accentuate what counts at the end to the company and its stakeholders, including consumers, and extends far beyond the products Bridgestone creates and sells, according to Sara Correa, chief marketing officer of Bridgestone (Bridgestone, 2022).
3.1.3 The Launch of the Bridgestone E8 Commitment
The Bridgestone E8 commitment was introduced on March 1, 2022, to commemorate the 91st birthday of the company’s inception, according to Financial Times (n.d.). This initiative acts as a roadmap for the company’s transition into a supplier of green solutions and a compass for the administration to advance while gaining the confidence of coming generations. The eight guiding principles of this effort are economy, empowerment, extension, ease, and ecology. Particularly, these principles, which emphasize quality and support the company’s mission, show how Bridgestone sees the development and potential for the company’s future.
Figure 2: Bridgestone E8 Commitment
Source: Bridgestone (2022)
4.0 Bridgestone’s Experience and Plans
4.1 Bridgestone’s Experience
The company was reportedly at odds with IBM over a botched ERP rollout, according to Krigsman (2013). According to Krigsman, Bridgestone Americas hired IBM to install SAP software throughout the business. Bridgestone alleges that after investing $75 million in the system, it failed to go live, affecting crucial operations, including inventory control and customer deliveries, and costing the company almost $200 million. Bridgestone was compelled to hire SAP directly to address issues that IBM is said to have caused. Significantly, Bridgestone lacked the requisite leadership to properly handle its SAP software making its use a complete nightmare. Its CIO was changed six times throughout the project’s two-year duration (Krigsman, 2013).
4.2 Bridgestone’s Future Plans
According to Bridgestone (2021), the firm seeks to gain a competitive edge through initiatives that enable the mobility and movement of people and objects and provide societal and customer value. This is stated in the company’s 2021–2023 business plan. In summary, Bridgestone intends to keep utilizing cutting-edge, new technology while maintaining a strong commitment to helping communities worldwide. The company intends to maintain its portfolio of ventures, which consists of experimental, expansion, and core businesses, with a commitment to environmental sustainability. Bridgestone is also dedicated to furthering the projects outlined in its Sustainability Business Framework, which is focused on assisting in developing a circular economy and a carbon-neutral society (Bridgestone, 2021).
5.0 Organizational Innovation
According to Tyler (2022), Bridgestone intends to initiate tire recycling with new technology by 2030 to be inventive. This action will produce radio-tagged tires in 2024, lowering the carbon emissions of its industrial tire range. The company plans to connect tires on buses and trucks to a cloud-based system to assist customers in maximizing tire durability and decreasing carbon emissions.
6.0 Reflection
While working on this assignment, I discovered that successful businesses in the twenty-first century depend on incorporating cutting-edge technology into their daily operations. Technology has evolved into a crucial competitive instrument capable of giving a company the highest level of attractiveness on a global scale. In addition, I now know that the adoption of contemporary technology is motivated by sustainability. Earth’s future is promising whether or not businesses are required to ensure lower carbon emissions.
References
Bridgestone Americas, Inc. (2022). Bridgestone Puts Focus on Purpose and Action with New “What Really Matters” Brand Platform. Cision PR Newswire. https://www.prnewswire.com/news-releases/bridgestone-puts-focus-on-purpose-and-action-with-new-what-really-matters-brand-platform-301611060.html
Bridgestone. (2021). Bridgestone announce mid-term business plan (2021-2023). https://www.bridgestone.com/corporate/news/2021021601.html
Bridgestone. (2021). New Bridgestone innovations that are shaping the future of sustainable mobility. https://www.bridgestone.co.uk/stories/sustainability/new-bridgestone-innovations-that-are-shaping-the-future-of-susta
Bridgestone. (2022). BRIDGESTONE AND AWS ANNOUNCE STRATEGIC RELATIONSHIP FOCUSED ON PLATFORM DEVELOPMENT AND LAUNCH OF NEW CUSTOMER SOLUTIONS. https://press.bridgestone-emia.com/bridgestone-and-aws-announce-strategic-relationship-focused-on-platform-development-and-launch-of-new-customer-solutions/
Bridgestone. (n.d.). About Bridgestone. https://bridgestone-mea.com/?gclid=EAIaIQobChMIubOzmvmP_gIVjOvVCh2iIgU-EAAYAyAAEgLCYvD_BwE
Bridgestone. (n.d.). Products & Innovations. https://www.bridgestone.com/products/index.html
Bridgestone. (n.d.). Technology & Innovation. https://www.bridgestone.com/technology_innovation/
Craft. (2023). Bridgestone. https://craft.co/bridgestone
Express Mobility Desk. (2022). Bridgestone and AWS collaborate for last-mile delivery. Express Mobility. https://www.financialexpress.com/express-mobility/bridgestone-and-aws-collaborate-for-last-mile-delivery/2648979/
Financial Times. (n.d.). Bridgestone’s commitment to a sustainable future. https://www.ft.com/partnercontent/bridgestone/bridgestones-commitment-to-a-sustainable-future.html
Michael Krigsman. (2013). PR finger pointing: IBM and Bridgestone wrangle over failed ERP. ZDNET. https://www.zdnet.com/article/pr-finger-pointing-ibm-and-bridgestone-wrangle-over-failed-erp/
Tim Tyler. (2022). Bridgestone Aims to Start Tire Recycling with New Tech by 2030. Clean Technica. https://cleantechnica.com/2022/10/27/bridgestone-aims-to-start-tire-recycling-with-new-tech-by-2030/
Verified Market Research. (2021). 10 largest tire manufacturers cruising through the roads. https://www.verifiedmarketresearch.com/blog/largest-tire-manufacturers/
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