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BUSN300 Unit 5 IP - Research Paper Example

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Name: Lecturer: Course Name: Course code: Date: Analyzing Toyota Company Toyota Motor Corporation (TMC) is an international corporation with its headquarters in Japan and founded by Kiichiro in 1937. It has several groups of companies which include: Lexus, Toyota, Hino and Daihatsu motors…
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BUSN300 Unit 5 IP
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Download file to see previous pages It has factories that spread over six continents dealing with the production of automobiles Toyota Business Environment Every organization, regardless of the business they are doing, is exposed to a lot of factors that has an effect on the performance of a company and also the strategies and decision making of an organization. It is therefore important for companies to be informed about these factors since they can have an influence on the plans and strategies of a company Challenges faced by Toyota Motor Corporation Toyota Motor Corporation being an international company faces a lot of legal and business challenges that have affected the strategies, plans and decisions of the organization and also the entire automobile industry. Some of the challenges include: The products of Toyota company are found everywhere in the world and the company supplies its automobiles to various countries globally. Competition is none of the greatest challenge the company has to deal with since the company is operating in a competitive environment. Factors like the features and quality of the product, research and development time, safety, reliability, pricing, customer service, pricing terms and fuel economy. The company has been offering world class products which have made it to be a leader in the market and its products are facing steep competition. Nevertheless, the company has been leading on the market which led to the company being awarded as the number one company in sales of automobiles. The company was affected by the economic crisis that was experienced in 2008 in the US. Since the company is the leading manufacturer of the automobile, its turnover of over $17 billion was shaken due to this economic downturn. This was attributed to the fall of consumer spending that affected many households. The company was able to survive the economic turmoil since it had other services like biotechnology and other financial services. Furthermore, the company had to let off some temporary workers and also had to reduce car production of automobiles Toyota Company had to recall over 14 million Lexus and CamrySolara models of vehicles which had an acceleration problem. This problem was traced to the vehicle accelerating itself while driving at a low speed. This has increased the number of accidents that have been experienced all over the world. The company was forced to respond to questions that were asked by the customers about the quality of the products. Despite the challenges faced by the company, the management of the company has focused their attention on solving problems and service delivery to the customers. The company had to use the SWOT analysis so as to understand the business Strengths The company has a global production plant in six continents. The company has the capacity to produce the best services as compared to other competitors. The greatest strength of the company is the manufacturing of quality products to the customers. Though some people are not be in a position to buy the automobiles of the company, the company still has a growth in its sale due to the production of quality and reliable products. This allows the company to serve both private and commercial organizations therefore dominating in all sectors f the market Weaknesses The company is only focusing on big economies and forgets emerging economies. Opportunities Presence of new technology has facilitated the company in producing Eco-friendly automobiles. The ...Download file to see next pagesRead More
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