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International Business: Toyota Motor Company - Essay Example

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The paper tells that Toyota has been one of those companies on the international scene that has been able to face the challenges of globalization and it has used them to its advantage. The paper makes a few recommendations to Toyota for coping up with the impact globalization in the coming years…
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International Business: Toyota Motor Company
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"International Business: Toyota Motor Company"

Download file to see previous pages The paper focuses upon globalization that is the inevitable reality which has changed the entire automotive industry. The industry dynamics are no longer the same as they were five or six decades ago. The concept of a purely local company no longer exists and more and more automotive companies are now trying to become truly multinational companies. Globalization has proved to be a blessing for various producers but for some, it has created various problems. Consider the example of the US automotive market. In 1955, the US automotive industry was dominated the “Big Three” companies, which were GM, Ford, and Chrysler. By the end of 1965, the Japanese companies entered the US market and started growing steadily. By the end of 1985, they had acquired 20 percent share of the US automotive market. After the ten years, this percentage rose up to 30 percent and according to the statistics of 2010, this percentage stands at well over 48 percent. One might say that the Japanese players are now dominating almost half of the US automotive market and a few decades back, no one would have imagined that Japanese companies would be able to penetrate the US market. A similar situation is present in Europe where the local car producers are facing serious problems not only from the Japanese manufacturers but also from the South Korean company Hyundai who has been penetrating in the European markets aggressively. (Osono, Shimizu & Takeuchi, pp.75-76, 2008). Gone are the days when consumers within a country or even all over the globe used to accept standardized products, styles, and designs. Over the years, the bargaining power of customers has increased significantly, and now they demand more information, styles, designs, and features. Automotive companies in the past had the option of keeping some markets backwards (Blanpain & Lansbury, pp. 114-115, 2008). This means that carmakers, at times, deliberately hold back car designs and models in certain markets to ensure that they could take complete advantage out of the previous models. However, the same is not applicable in the globalized markets of today. Consumers now have access to all the information about the activities, models, and product variations. Furthermore, consumers are now in stronger position to demand product variat ...Download file to see next pagesRead More
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I didn’t know how to start my research paper. "International Business: Toyota Motor Company" helped me out a lot! Especially the list of closing part was valuable.
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