Management Strategy - Essay Example

Download file to see previous pages It is also through this mission statement that Toyota was able to focus even more in the U.S., its old market and where it gets its high portion of sales and market share. In fact, focusing in the U.S. market was never been a mistake considering that the U.S. is one of the most influential countries in the world when it comes to setting various trends in economics and politics in general. Toyota sales were growing in this country and in fact, Toyota was heading on to even more wider expansion just even as it continues to grow in popularity and acceptance around the world.
However, amidst global economic recession, and despite the fact that this strongly caused strong negative impact to every automaker around the world, Toyota is not accustomed to experience them. To wit, Toyota’s experienced troubles are the following (Flint, 2009):
In 2007, Toyota was able to sell 9.37 million cars world wide, an indicator that it was then making out well. In fact, it made profits of $2.27 billion beating the General Motors as the world’s largest car maker as of the year 2007 (Japanese economy hitting record lows, 2008). However, it had an operating loss almost $5 billion in 2008 (Flint, 2009).
In the last quarter of 2008, the Japanese exports dropped by $60 billion as a result of a rising Yen making cars and electrical goods expensive overseas (Japanese economy hitting record lows, 2008). This made its sales in its biggest market, the USA suffered. Based on last year’s sales, its sales was down 38% in the U.S., 20% in Canada, 30% in Japan and 18% in Europe (Flint, 2009).
Toyota has never been accustomed to failures considering that the automotive industry where it belongs identifies it as one of the world’s largest automotive producers which aims to promote quality products in an international scale by making the world’s one of the greatest markets a target, the United States of America. Toyota is also known as the Japanese giant because it is the leading ...Download file to see next pagesRead More