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Forbes International Top Ten - Research Paper Example

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Name of of University Date Strategic Plan for Toyota Motors Every business must create a strategic plan that tells them how they are going to work in the marketplace. Generally, this strategic plan will include how they are going to bring their products to market, how they will market them and the strategies involved to make sure that people are buying the product…
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Forbes International Top Ten
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Download file to see previous pages There are many things that Toyota has done in order to outsell its competition. This report will discuss the strategic plan in depth. According to the Maynard (2008) one of the things that Toyota does is to find a way to build their cars better. Some of what they do is to encourage employees to do exercises that will create a more focused employee. This is part of their strategy to use in training centers to make sure that their employees are focused on what they are attempting to do. They have found that through watching how they make cars and improving this at every level, it has created a better opportunity for them to build cars faster (Maynard, 2008). Dawson and Shirouzu (2011) also state that Toyota is downsizing its board of directors in order to make decisions at the higher levels easier. The plan will also include an expansion to China and India before it is completed (Dawson and Shirouzu, 2011). Akio Toyoda (2011) the new head of Toyota has created a vision for his company that provides what they intend to do in the future. It details their strategic plan and provides important information as to how they see themselves and what they are to do. The information they provide is as follows: “Toyota will lead the way to the future of mobility (par. 7)”. Toyota will creatively stay ahead of its competition. This area includes finding ways to help people in different types of mobility as well as moving them into the future and they will research “smart grids” (par. 7) in order to understand how to make their company more ecologically friendly. “Enriching lives around the world (par. 8).” This statement is their commitment to making automobiles that people want to drive. This provides continuous employment for many people and it provides safe vehicles for those who need them. “With the safest and most responsible ways of moving people (par. 9).” This statement involves Toyota’s commitment to making sure that their vehicles are safe and attractive to the eye. They want people to purchase them because they are emotionally moved to do so as well as providing an automobile that is safe and environmentally friendly. “Through our commitment to quality, constant innovation (par. 10).” According to Toyoda, this is the “DNA” of what Toyota is and what they are supposed to do. It means that they are always looking for ways to reinvent themselves so that they can provide vehicles that will respond to the needs of people in the future. “Respect for the planet (par. 11).” This statement is their commitment to taking the environment into consideration when they make automobiles. They are committed to creating a way to manufacture automobiles that “minimizes waste” (par. 11). These eleven statements are at the heart of Toyota’s strategic plan according to Toyoda (2011) and they are what they want to work with throughout the next several years. In addition, they have a commitment to their employees to make sure that they are reaching goals that they have set. It is important to Toyota that all employees work to a high level of performance and they expect that their stockholders and others will form positive opinions of what they are doing. They are interested in making sure that the people who work for them take into consideration opinions and thoughts of both their customers and their stakeholders (Toyoda, 2011, par. 12). Toyota also emphasizes ...Download file to see next pagesRead More
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