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Strategic Management: External Analysis a Toyota Case - Admission/Application Essay Example

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The Toyota Motor Corporation or simply Toyota is a multinational automaker headquartered at Toyota in Japan. This paper will explore the firm’s major external threats and opportunities and how the company is addressing those elements…
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Strategic Management: External Analysis a Toyota Case
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"Strategic Management: External Analysis a Toyota Case"

Download file to see previous pages Both the chairman and the president address several opportunities for the company in their introductory message. Both of them are of the belief that the company’s social responsibility programs would raise potential market opportunities for the company. The President Toyoda points out that in an attempt to mitigate the impacts of the Great East Japan Earthquake, the Toyota’s support teams analyzed the situation and immediately responded to the recovery issues of affected communities. He adds that the company gave first priority to preservation and restoration of communities rather than restarting the production (President’s message, 2011). Cho believes that the firm’s powerful and potential workplace may provide it a series of opportunities. Similarly, both Cho and Toyoda strongly argue that the company possesses a potential group of stakeholders and this situation is identified to be one of the most promising opportunities for the firm. To justify this argument, they point that their stakeholders kept shares with the company even when the organization confronted with a difficult business environment as a result of global financial crisis and the 2011 earthquake. As mentioned in investopedia, an average person cannot start manufacturing automobiles as it needs huge investments (The industry handbook). Therefore, Toyota is relieved from the threat of new entrants to a great extent. In addition, Toyota generally buy majority of their products from more than one supplier. When the company decides to switch its supplier, it can cause dreadful impacts on the existing suppliers. Therefore, weaker supplier power also creates a favorable business environment for the Toyota. On the other hand, increasing concerns about environment, pose potential challenges to the company’s strategic planning.

Two Major Threats
Firstly, availability of close substitutes is seemed to be the major threat to the automobile industry. Nowadays, increasing costs of maintaining a vehicle may persuade people to seek alternative transportation including bus, train, or airplane. Presently, automakers really strive to survive market competition, which threatens their long term sustainability. Although, auto industry has ...Download file to see next pagesRead More
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