Strategic Management: Mission, Vision, and Stakeholders - Essay Example

Some famous models of Toyota include Corolla, Camry, Land Cruiser, luxurious Lexus line and Tundra truck. (Magee, 2007) The purpose of this paper is to highlight and analyse the vision and mission of a successful company like Toyota. The purpose is not only to understand and gain an insight to the company’s aims and objectives through their vision and mission statements, but also to analyse if they are in accordance with the stakeholders of the company like the customers, employees of shareholders etc.

Toyota Global Vision According to Toyota, their vision is as follows: “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile.” We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way. “TOYOTA MOTOR CORPORATION GLOBAL WEBSITE.

http://www.toyota-global.com/company/vision_philosophy/toyota_global_vision_2020.html. Toyota’s Mission Statement “Mission of Toyota is to provide safe & sound journey. Toyota is developing various new technologies from the perspective of energy saving and diversifying energy sources. Environment has been first and most important issue in priorities of Toyota and working toward creating a prosperous society and clean world”. INDUS MOTOR COMPANY LTD http://www.toyota-indus.com/company/vision.asp. Toyota’s Stakeholders Analysis In this section we will list down a few stakeholders for Toyota and their expectations from the company which the management should consider.

Stakeholders are a very important segment of a company as the organizational success depends directly on the level of satisfaction of its stakeholders. The most important stakeholders for Toyota are the customers and the employees. Every kind of stakeholder has a different set of expectations and demands from the company for example the customers expect the company to manufacture products which are reliable, affordable and environment friendly. The employees expect something different from the company, like a proper set of code of conduct for the employees, a proper performance evaluation and other facilities.

The vision and mission of a company should abide by the expectations and demands of all the stakeholders of the company in order to gain sustainable market growth as well as a competitive advantage. Following is a brief analysis of the Vision and Mission of the case company to evaluate if they are in accordance with the stakeholders’ expectations. Analysis of Toyota’s Vision and Mission The vision statement of Toyota Motors is precise and clear and portrays a positive feeling for communicating its motives and intentions.

Not only this, the vision statement also encourages their employees and the team members to understand that they have an inspiring and attractive common vision for their company’s future and ultimately their own future. The organizational purpose is defined in the vision statement in terms of organizational values as an alternative of bottom line measures. The vision statement implies that the company constantly tries to seek ways to create value for their customers which are the most important