This study briefly explores the company’s history and context and analyses Toyota’s internationalisation strategy. The paper undertakes value chain analysis to explore how the different groups at Toyota work together as a unit and how the different factors of production at Toyota are interrelated…
Download file to see previous pages...
The paper tells that the history of Toyota can be traced back to humble beginnings in 1930 as a research initiative into gasoline-powered engines at Toyoda Automatic Loom Works, before the registration of Toyota Motor Corporation Ltd. in 1937. The company’s timeline is characterised by major breakthroughs involving careful business partnerships with other players in the car industry and launch of activities into foreign markets. The first formal exports were to the USA in 1957. The company then entered with Hino Motors Ltd. in 1966 and Daihatsu Motor Co. in 1967, before launching the very successful Lexus brand in the USA. Production in the UK began in 1992, and the company saw the launch of the world’s first mass produced hybrid car, the Prius. Production in France began in 2001, with Toyota entering Formula 1 in 2002. Recent highlights include the introduction of the Lexus in Japan in 2005 and establishment of a strategic direction for the firm towards industry leadership into the future. Toyota has grown into a giant global car maker, surviving a decade of poor performance by the industry to continually post profits and growth nearly all the time. In 2010, the company was ranked first in terms of units moved (8,557,351) and thus market share (11%). The latest figures however indicate that the company has fallen into third place behind GM and Volkswagen especially following the recent devastating earthquake in Japan. (Business Week 2011). Company Purpose Through analysis of Toyota’s vision, mission, objectives and company principles it is possible to gain important insight on Toyota’s current position in the global market and the strategic direction the company is taking. The company’s global vision is to “lead the way to the future of mobility, enriching lives around the world with the safest and most responsible way of moving people” (Toyota-global.com 2011). The company bases this vision on commitment to quality, high innovativeness and respect for the earth. From the company’s vision, it is clear that Toyota seeks to be the industry leader way into the future. The company’s mission statement is “To sustain profitable growth by providing the best possible customer experience and dealer support” (Toyota-global.com 2011). The mission and vision statements reveal that the company’s current and future are pegged on sustainability, quality and customer satisfaction. The management at Toyota has generated a set of principles that have brought the company the success it now enjoys, and still look to work with these principles into the future. These guiding principles involve honouring every nations law in order to be a good global corporate citizen, respecting customs and cultures of the different peoples around the globe, production of cleans and safe products, production of outstanding products through innovative technology, fostering individual creativity and teamwork through an appropriately enabling corporate culture, harmonious growth
...Download file to see next pagesRead More
Cite this document
(“Strategic Analysis on Toyota Assignment Example | Topics and Well Written Essays - 4250 words”, n.d.)
Retrieved de https://studentshare.org/management/1392457-strategic-analysis-on-toyota
(Strategic Analysis on Toyota Assignment Example | Topics and Well Written Essays - 4250 Words)
“Strategic Analysis on Toyota Assignment Example | Topics and Well Written Essays - 4250 Words”, n.d. https://studentshare.org/management/1392457-strategic-analysis-on-toyota.
ship 16 8.2 Puma- Focused Differentiation & Edward Jones- Focused Low Cost Strategy 17 8.3 Harley Davidson- Differentiation 18 References 19 PART A 1.0 Strategic Management A first time learner of management theories might define strategic management as using management concepts to gain strategic advantages for companies but unfortunately there is no concrete definition of the subject.
Nadler and Tushman (1980) present the concept stating that one way of viewing an organisation is to consider that organisations are made of structures and other hard elements referred to as “hard systems” (Senior and Fleming, 2006, Schein, 2004) however, Nadler and Tushman in their article present the open systems model of an organisation as one in which the emphasis is placed upon the way in which an organisation interacts with the relevant factors within the external environment, as well as considering the traditional internal interactions within an organisation.
The main aim of the organization is to increase profits and capture the market share but when things turn around, organizations need to find out the reason for such problem.
Sales often refer to the top line of the financial statement. Thus trends on sales tend to reflect both the quantity as well as the price at which the sales of the product have been made.
In recent years UK supermarkets have come under increased scrutiny over their treatment of suppliers, particularly of own-label products, yet the development of strategic supply networks has been an integral part of most supermarket strategies for the past decade.
As we know that global car industry is passing through rapid change and lots of external (macro) factors as well as internal (micro) factors affecting the overall industry. Similarly we will chose two players (incumbent firms) to analyze that how their strategies so far make them successful and in near future how they are going to change/modify their strategies to remain competitive in the market.
It starts with an internal analysis which includes various factors like market situation, target market, marketing mix, supplier conditions and internal capabilities and resources. It has been found that the demand for hybrid cars is increasing at a rapid pace in most
When a manager performs strategic analysis at the corporate level he must take into consideration external factors such as the economy, political, social, and the competition (Vitez, 2013). One of the purposes of this