Evaluation of Toyota Company - Report Example

Contents Contents Toyota Company Executive summary Introduction 2 Overview of CSR activities of Toyota Company 4 Summary of the Company’s initiatives on the environment 5 Creating Successful Communities 7 Business Ethics Adopted by Toyota Motor Corporation 8 Conclusion 10 Bibliography 11 Toyota Company Executive summary This report is aimed at reviewing sustainable business activities as practiced by Toyota Company. At can be seen that the company adopts various sustainable activities like respect of culture and honoring diverse languages. The report starts with giving the overview of Toyota Company and introduces some sustainable activities carried by the company. It concludes by highlighting ethical issues performed by the company Introduction Toyota Motor Corporation is a leading Japanese automobile with its headquarters in ToyotaAichi, in japan. Toyota is one of the leading corporations in revenue and also the largest manufacturer in the automobile industry. The company was started in 1937 by Toyoda Kiichiro as a derivative of his father’s Toyota industries to manufacture automobiles. Their global vision is to lead the way into the future of mobility and to enrich people’s lives globally with the most responsible and safest ways of moving people. Through their quality commitment, continuous innovation and respect to the entire planet, the company aims at exceeding its expectation and be rewarded with a smile. Some of the guiding principles of Toyota include: 1. Respect the customs and the culture of every nation and make contribution to social and economic development through corporate activities in their particular communities 2. Honor the spirit and the language of the law of every country and carry out fair and open business activities to be a responsible corporate business of the world 3. Commit their business to offering safe and clean products and promoting the quality of life everywhere in their entire activities 4. Pursue growth through harmony with the worldwide community through innovative management. Business Sustainability Activities adopted by Toyota Company Toyota Company and its subsidiaries have taken the initiative of contributing to sustainable and harmonious development of the society and the world in all their activities they undertake in every region and country, basing on their guiding principles. Toyota’s Corporate Social Responsibility Pursuing harmony with the people, society and the worldwide environment, and development of sustainable society through manufacturing Since its inception, Toyota has always endeavored to contribute a sustainable society through manufacture and provision of quality and innovative products that stand the test of time. Automobiles are essential since they gives freedom of movement. On the contrary, they cause some negative impacts on the environment and society in several ways. Having this in mind, they listen carefully to their neighbors and customers in the local residents to pursue their business, pursuing harmony with people, society and the international environment, and also developing a sustainable society through manufacturing. In their main line of business, manufacturing automobiles, they develop and introduce hybrid vehicles which are environmentally friendly in addition to structures for effective passive safety. The company also rolls out new businesses in areas like afforestation, biotechnology, and energy. In addition, the company, the company follows initiatives for social contribution focusing on the environment, education and traffic safety. Such activities that center on the manufacturing of automobiles are crafted to assist people in the entire community and bring happiness to them. CSR policy is the basis of their rationale: contributing towards sustainable development. Toyota aims at becoming one of the trusted and admired company by the society by ensuring that its employees appreciates and put into practice the company’s CSR policy. The company also shares the same with its consolidated subsidiaries and take the necessary action and also expect the subsidiaries to offer support to this initiative and comply with it. Overview of CSR activities of Toyota Company Toyota Company and its subsidiaries have taken the initiative of contributing to sustainable and harmonious development of the society and the world through business activities that they undertake in every country and region, basing on their guiding principles. They comply with local, national and international regulations and laws together with the spirit thereof and they undertake their business with integrity and honesty. So as to contribute to sustainable development, the company believes that interaction with various stakeholders is of paramount importance and they endeavor to building and maintaining, good relationship with its stakeholders through fair and open communication. The figure below show an overview of Toyota’s CSR activities Environmental responsibility Apart from the development of sustainable automobiles and designing manufacturing plants which are sustainable to recycling of vehicles, reforestation and eco driving education programs, Toyota is engaged actively in a number of programs to improve the environment. Summary of the Company’s initiatives on the environment Toyota Company aims at establishing a society free from carbon, initiating a recycling-based society establishing a society that is in harmony with nature basing on the company’s action plan. In order to achieve all these, the company reduces the impacts on environment at all stages of the life cycle of a vehicle starting from development and design, procurement, logistics and production, sales to recycling, and foster management of the environment. Environment In order to make a contribution to a sustainable society and the entire world, the company is committed to making social contributions in areas like support for environmental action, environmental education, afforestation and preservation of biological diversity. Toyota’s Environment Grant Program In its quest of being an organization that makes a lot of contribution to measures intended to attain international regeneration, Toyota has been carrying out grant programmes to give support on activities implemented by Non-profit Organizations and other private with the theme “Environmental Technology and Human Resource Development Contributing to Environmental Revitalization and Conservation” Education Toyota Company utilizes its expertise in manufacturing to hold several programs that aim at promoting the advancement of science and technology and offer support in the implementation of worldwide educational programs that will develop and nurture future leaders. For instance, in Africa, Toyota Teach (South Africa) begun educational programs aimed at improving basic scholastic abilities of basic and junior high school children. This program targeted teachers and offers training in teaching methods for Maths, English and Science. On the Asian Pacific region, Toyota Company has been carrying out scholarship programs since 2006 in collaboration with China’s Soong Ching Ling foundation. They offer assistance to students in western and central China who are faced with challenges in continuing or finishing their university education for economic reasons. Creating Successful Communities Company’s Basic Philosophy Concerning Social Contribution Activities Aimed at enriching the society and sustainable development, Toyota Company collaborates with various individuals and organizations to utilize the resources while engaging in social contribution activities that majorly focus on traffic safety, the environment and education to solve social problems Initiatives in Japan Toyomori initiative – making a connection between People and the forests Developing Human resources that makes people to succeed Toyota Company and Toyota city have been running a Toyomori project that mainly focus on human resource development. The project was initiated to support people who can utilize available natural resources to create new businesses that impact people’s lives living in the mountain and farming villages in Toyota city. Toyomori Institute of Sustainable living is behind the formation of this initiative. In n 2009, the first group of 30 participants were selected from the public and offered an opportunity of crafting business plans that could connect rural communities with the cities. Those who participated learned together for two years through once-a-month class instructions and fieldwork in the mountain side of the villages. Second phase comprised of 25 participants who were selected in 2011 who finished their activities within two years. The third phase lasted for one year and focused on the development of human resources who can create a new way of living. Society and culture Toyota Company is working towards creating a self-sustaining, harmonious society where various number of people respect each other and work together, by offering assistance to social contribution projects, encouraging self-reliance, supporting welfare services and other initiatives. For instance in Toyota community concerts in Japan, Toyota Company and its sales companies in Japan are working together with the Federation of Japan Amateur Orchestras in supporting local amateur orchestras and promotion of local culture through music. Business Ethics Adopted by Toyota Motor Corporation As a way of describing the code of standards for ethical business operations, Toyota Company has formulated business code of ethics that is applicable to all the employees within the company. Toyota Company has experienced a reputation as being one of the most reliable automobile company, and this forms one of their greatest selling points. Despite their past challenges with some of their parts not functioning well, the company has managed to be a leader in the market. Toyota Company strives to offer high quality products and services that meet customer’s demands globally. The company also seeks to maintain the highest of safety, health and environmental management, and sets targets for its operations, including procurement, research and development, production, distribution and sales. The company has in mind every function within the company and prohibits any illegal action that violates the Companys rules and regulations. Complying with local and international rules and regulations The company complies with relevant laws and regulation in respective countries of operation. It is the responsibility every individual employee to be familiar with relevant laws regarding their jobs. The company also complies with its policies and rules where all the employees are made to be familiar with the company’s policies and commit themselves to acting in accordance to the guiding principles of the company. The company does not in any way tolerate any acts or actions that violate the policies of the company and takes appropriate action against any illegal violations. Promoting safety The company manufactures safe vehicles and other related products and services. As an automobile manufacturer, safer vehicles are one of their main responsibility. The company in cooperation with suppliers and retailers endeavors to research, design, develop and manufacture vehicles that have been subjected to quality Conservation of Environment The company is aware of global importance of conserving the environment. Toyota Company is, therefore, dedicated to providing safe and clean products that enhance quality life through their activities. Toyota respects sound environmental management as a key responsibility and puts into consideration the environmental effects of its products in their entire lifecycles, from the time of production to disposal. The company is committed to complying with international environmental standards and conducts assessment on environmental effects, thus working towards designing and building vehicles that are friendly to the environment. Procurement -The Company engages in fair and open procurement processes and activities basing on: free and fair competition based on performance, mutual growth basing on mutual trust and promoting localization so as to be a responsible corporate citizen Conclusion Toyota Motor Corporation and its subsidiaries have taken the initiative of contributing to sustainable and harmonious development society and the entire world basing on their Guiding Principles. They comply with local, national and international standards and regulations and conduct their business with honesty and integrity. In order to offer a contribution to sustainable development, they believe that cooperation between the management and various stakeholders is paramount, and they endeavor to create and maintain a good relationship with its stakeholders through fair and open communication. Bibliography Charles Hill, Gareth Jones. Strategic Management: An Integrated Approach. Cape Town: Cengage Learning, 2011. Read More