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Toyota SWOT Analysis - Essay Example

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Toyota SWOT Analysis Name Institution Toyota SWOT Analysis I. Company History Toyota is arguably one of the largest automobile manufacturers in existence today and from the humble origins of the first Toyota vehicle, the Model AA of 1936, the company has grown into a giant global carmaker brand…
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Toyota SWOT Analysis
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Download file to see previous pages Toyota’s mission statement, “To sustain profitable growth by providing the best possible customer experience and dealer support” embodies the reasons behind the company’s success: sustainability, quality and customer satisfaction (Hino, 2006). II. Organizational Strengths and Weaknesses A. The “Toyota Way” Strategy Toyota has successfully implemented their widely recognized “Toyota Way” strategy in all its global business operations. This strategy is based on operational excellence through a 4-P model; philosophy, process, people and problem solving. Philosophy is anchored on long-term thinking; process on waste elimination; people on respect, growth and challenge; and problem solving through the concept of continuous improvement. The resultant effect of this strategy is organizational performance and excellence due to sustenance of high quality that not only attracts customers but also makes them loyal (Liker, 2004). The “Toyota way” is a clear strength since it is tailor-made for the company as evidenced by the fact that most of the other operational excellence strategies pursued by organizations around the world were developed from it including the popular “lean manufacturing”, “just in time” and “six sigma” philosophies. ...
The “Toyota way” only works due to the successful uptake by the employees and the Toyota culture of hard work and continuous improvement is possible through the quality of employees present (Liker and Hoseus, 2008). Toyota’s excellent workforce is a major strength especially considering the fact that the company operates on principles based on continuous improvement, high quality and organizational performance appraisal which would prove strenuous and overwhelming to weak employees. It is not unknown for companies to adopt noble strategies and policies only for them to fail due to difficulties in adoption by the workforce. C. Product Quality Concerns Toyota’s large size as a company means that any errors in manufacturing result in numerous faulty vehicles availed to the market which leads to customer dissatisfaction and aloofness to future car models. This is particularly damaging to reputation as evidenced by the recent recalls of vehicles due to failed breaking systems; concerns on safety are enough to cause virtually irreparable harm to a company such as Toyota. To maximize on quality, a Total Quality Management system should be carefully implemented besides much emphasis on batch testing since this is perhaps the only way Toyota can mass produce with quality assurance. D. Lack of Customer Involvement Toyota focuses a great deal on the internal aspects of its operations in terms of management and workforce performance optimization and fails to take into consideration the views and interests of the customers. This has resulted in some of its car models being ranked among the ugliest automobiles on roads; unenviable ...Download file to see next pagesRead More
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