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Toyota study (Strategic Management) - Essay Example

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Andrews (1997: p. 52) defines corporate strategy as "the pattern of decisions in a company that determines and reveals its objectives, purposes, or goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organisation it is or intends to be and the nature of the economic and non-economic contribution it intends to make to its shareholders, employees, customers, and communities"…
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Toyota study (Strategic Management)
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Download file to see previous pages To almost anyone you turn to, strategy is a course of action, it is a plan or a way of doing things unique to a particular organisation or identical to other organisations. It is some sort of consciously intended guidelines to deal with a situation. In management, however "strategy is a unified, comprehensive, and integrated plan.designed to ensure that the basic objectives of the enterprise are achieved" (Mintzberg H. et al 2003:4).
According to Johnson et al (2005), taking a business from where it is to the future or desired state involves some strategic decisions and choices. Strategic choices are concerned with decisions about future state of organisations. Strategic advantages are not always achieved by competition alone. Collaboration between potential buyers and sellers and some other dealers turn to be very beneficial and advantageous when negotiation and contracting costs reduces (JSW: 2005:261)
Corporate level strategy is more concern with product diversity, market diversity, corporate parenting and managing portfolio. As our client have restriction on product diversity based upon contract conditions with the respective supplier, and the lack of portfolio of business to operate upon we will concentrate our corporate decision based on market diversity and corporate parenting roles. Questions like, Should we grow Which business unit should we grow How do we grow the business unit And what activities must be given up by our client to grow
The choices include, collaboration, or international expansion, diversification or development of traditional Toyota brand. Expanding into more eco-friendly vehicles. The international strategy of Toyota Company also takes into account the value adding services it provides to its partners and dealers in different countries. By adding value to its partners Toyota increases its market potential and customer base in different geographical locations. By maintaining long-term relationship with its dealers and stakeholders the company meets one of its major objectives.
The company has increasing used partners worldwide to benefit from its generic focus and cost leadership strategy. To the company, "offering inexpensive but durables cars and is essential for customer's satisfaction. By working with partners in different locations, Toyota has gained lasting competitive advantage over its competitors. Because of synergistic gains resulting from such partnership, the company as a whole is greater than the sum of its parts. This is consistent with Javidan (1998:6) finding that successful organisation demonstrate a particular set of mindset. To these organisations, collaboration and partnering is viewed as an opportunity not a threat.
The company unique resources which include its patents, trademark, resources rights (Cotton), strategic ...Download file to see next pagesRead More
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