Nobody downloaded yet

Toyota Economic and Recall Crisis - Research Paper Example

Comments (1) Cite this document
Toyota Motor Corporation is one of the world`s largest and most preferred automobile manufacturers. It also is a leading advocate eco-friendly and technological cars. The company was established in 1937 by Kiichiro Toyoda…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.1% of users find it useful
Toyota Economic and Recall Crisis
Read TextPreview

Extract of sample "Toyota Economic and Recall Crisis"

Download file to see previous pages Toyota has 522 subsidiaries, more than 320,000 staff worldwide, more than 12 Japanese factories, and more than 51 locations in 26 countries. As of 2009, Toyota faced a crisis that almost brought about its down fall. The company had earlier faced an economic crisis that started in 2007 spreading across auto industries worldwide. Consequently, in March 2008, the company recorded its first ever loss after 70 years. Other problems that have faced Toyota include the problem with acceleration in 2009 that led to a recall of millions of vehicles. As a result of this, consumer attitudes towards the brand changed. In January 2010, complaints from customers continued and the number of recalls continued to rise. This continued through April 2010, causing a further drop in customer’s feelings towards the brand. In an attempt to retain its customers, and maintain its position as the number one global auto industry, Toyota changed its motto to “Moving Forward!” Through this, the company communicated its desire to create a new and better beginning. Gradually, the company has been gaining positive disposition from its customers. Today, Toyota has been able to rise again, even though it has lost its number one spot. Keywords: Toyota, Toyota Motor Corporation, Toyota Production System, Manufacturers, Crisis, Automobile, Auto-maker, Gas Pedals, Acceleration, Recalls For many years, Toyota Motor Corporation has been the biggest automobile manufacturer in the world. It also is a leading advocate eco-friendly and technological cars. The company has exported millions of vehicles worldwide. Through this, it earned the reputation of being the best automobile manufacturer and exporter. Since 2007, the company has however faced a number of problems affecting both its reputation and positive customer disposition. Today, the company has however gradually regained its reputation. Toyota Motor Company was established in 1937 by Kiichiro Toyoda. In 1952, the company rapidly grew becoming successful (Borowski, 2010). Initially, the company exported its vehicles to South America. After five years, it was able to penetrate markets in North America. Having sold its products in North America, Toyota was able to penetrate the United States market in the business of exporting automobiles. Borowski (2010) points out that “In 1982, Toyota Motor Company and Toyota Motor Sales Company joined forces to Toyota Motor Corporation (TMC)” ( p.3). “The company now has 522 subsidiaries, 320,808 staff worldwide and is producing not only in the 12 Japanese factories but also in 51 other locations in 26 countries” (Borowski, 2010, p.3). In 2007, Toyota Motor Corporation had the highest share price value among all car-manufacturers. In, 2008, Toyota made an annual turnover worth billions of United States dollars after selling millions of vehicles.. Consequently, the company gained the status of being the biggest manufacturer of automobiles. This has however changed due to the financial crisis that began in 2007, damaging Toyota’s image, and also due to over sticking gas pedals that led to many recalls worldwide. According to Ohno, a structure of theories and procedures for improving collaborative strength known as the Toyota Production System is used at Toyota to maintain the company’s productivity, and at the same time, ensure that customers are satisfied with the quality and efficient delivery of vehicles (1998). The production of Toyota automobiles evolved from Henry Ford’s historic manufacturing systems. Herny Ford manufacturing system thus paved way for the foundation of the Toyota Production System. Due to conditions in Japan, there was inherent need to make considerable improvements to Ford’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Toyota Economic and Recall Crisis Research Paper”, n.d.)
Toyota Economic and Recall Crisis Research Paper. Retrieved from
(Toyota Economic and Recall Crisis Research Paper)
Toyota Economic and Recall Crisis Research Paper.
“Toyota Economic and Recall Crisis Research Paper”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
desiree89 added comment 10 months ago
Student rated this paper as
I didn’t know how to start my research paper. "Toyota Economic and Recall Crisis" helped me out a lot! Especially the list of first sentence was valuable.

CHECK THESE SAMPLES OF Toyota Economic and Recall Crisis

Economic Crisis in Argentina

...?Economic Crisis in Argentina: Argentina is a largest Spanish speaking country in the world with a population just above 40 million Argentina – Data”). The country saw a great economic boom in the 1970s when the economy was industrialized and large amount of foreign investments poured in the country. Economist recognized it as the emerging economies of the era along with Canada and Australia. Argentina now has the highest GDP per capita in the Latin America with a growth rate of almost 7 % in the year 2009 (“Argentina – Data”). The Crisis: The country went through difficult times in the late 1990s and early years of twenty-first century when it saw a great...
6 Pages(1500 words)Essay

Toyota PR Crisis Review

...defect in the car. This would have instilled a better image of the firm in the minds of the customers. Phase 2 Issues & Strategies The crisis situation at Toyota did not end with the product recall and the apology. The company following the apology letters and the initial product recalls stated that defects were only limited to certain editions where the floors mat got stuck with the accelerator. The letter of the company addressed to the customers stated that there were no defects in cars where the floor mat was compatible with the car. This response by the organization led to widespread criticism from various corners as the letter only stated that there was a problem...
25 Pages(6250 words)Thesis

Journalism - The Economic Crisis

...Task The Economic Crisis The economic crisis started in the mid 2007 and continued through 2008and caused many financial institutions to collapse. The crisis changed how many people lived since they had to cut on their budgets so that they could be able to survive and take care of their daily needs. The crisis not only affected people in the United States, but was felt by people all over the world. The interview I conducted revealed people’s feelings about the crisis and it showed how people reacted to the crisis by cutting down their budgets (Jickling). The people I interviewed gave varied responses to...
5 Pages(1250 words)Research Paper

Economic Crisis

...? 2008-2009 Economic crisis The paper focuses on the root causes of the tremendously loathsome economic crisis encountered by the world, especially the United States of America (USA) in 2008-2009 along with the rigorous steps employed by the US government to stabilize and uplift the economy’s condition from the devastating financial boogie trap. Primarily the focus is stressed on the proximate causes that ignited and spurred up the economic downturn. In the subsequent step, endeavors made by the US government in the stabilizing mechanism of the economy is explained with particular emphasis on the role of President, Congress, Secretary of the State, and Treasury Secretary in order to abolish the adverse consequences on the economy... ....
8 Pages(2000 words)Research Paper

Economic crisis

...World & UAE: Stock Markets Before & After Financial Crisis "The Chinese use two brush strokes to write the word 'crisis'. One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger-but recognize the opportunity." John F. Kennedy The world was at its peak in every industry, investors continued to invest all their life time savings. People thought that the economic boom will never end, everyone started thinking about the amount they have earned today; thinking about short-terms living life like its about to end. Suddenly, the economies began to decline and the investors were not able to pull out their money from the crashing...
12 Pages(3000 words)Essay

Economic crisis

...The global economy is having a serious downfall since last few months. The seriousness of the problem has affected most of the countries in the world. The people are getting directly influenced by the sudden movements in the economy. Employment, Money flow all has been affected negatively by the aftermaths of the economic crisis. There is a sudden need of remedial action in order to make a change to the negative effects of the economic development. The consequences of the sudden impulse in the economy are unfolding its unseen aftermaths gradually and this effect is being penetrated in the grassroots level of the society. It is an urgent need of the hour to put a stop to the ‘carcinogenic’...
3 Pages(750 words)Essay

Toyota recall is not safe

...Toyota Recall is not Safe Introduction The first car was developed in the late 17th century. This is a steam car invented in Belgium. Since then, thefunctioning and use of a car has changed completely. It has become an integral part of our lives and after almost 300 years, we have become extremely dependent on it. The traffic on the roads has increased manifolds and this shows the extent to which the use of car has become popular. The fact that the use of cars has become so widespread increases the need for cars to be safe. However, there have been many accidents that have been caused by negligent control on the part of car manufacturing companies. One of these companies is Toyota Motor Corporation, commonly known as Toyota... . This is a...
5 Pages(1250 words)Essay

Toyota Recall

...Companies such as Toyota, Hyundai and Volkswagen are showing remarkable growth and the United s should try and find means to overcome the financial crisis. Therefore, the U.S should try to find a breakthrough for this situation and device a strategy that would project Toyota as a emerging top company in the automobile industry. The exaggerated report about the recall is a means to tarnish the image of the company and distract the public from other important business matters concerning Ford or GM (Jung 2010). The fundamental lacking on part of the Toyota Company toward this event is on the management side which has not been able to catch up with the...
2 Pages(500 words)Essay

Crisis communications- Honda Recall

...Crisis Communications- Honda Recall Crisis Communications- Honda Recall Honda is faced with a situation where the firm must apologizefor product recalls, while reinforcing or supporting the reputation that is at stake. Honda’s reputation as a car manufacturer that cares about the safety of its customers is at stake. Additionally, the firm’s reputation as a car maker that focuses on innovativeness, quality and sleek design is also at stake. Therefore, while apologizing to its international customers, Honda must ensure that it supports its reputation and concern for customer satisfaction. Honda will feature its apologies on social media platforms such as...
3 Pages(750 words)Research Paper

Economic Crisis

However, in order to achieve a sustained level of increase in the aggregate output level, it is important that the government must take efforts which can stabilize the economy. Over the period of time, the overall quantum and level of public debt have increased to a greater length within the UK. Higher public debt levels along with extra reliance on credit by the private sector have resulted in significant economic problems for the UK as an economy. ( , 2011) This economic situation of UK, therefore, required a rebalancing of an economy with the reconsideration of both the fiscal as well as monetary policies adopted by the current government of David Cameron. The changes in the fiscal policies of the government were aimed...
10 Pages(2500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Toyota Economic and Recall Crisis for FREE!

Contact Us