Download file to see previous pages...
Furthermore the company should start a new advertising and public relation campaign in order to recover its affected image. The entire project will be very much feasible if the company works according to the provided plan.
The Japan based Toyota Motor Corporation has been dominating the automobile industry over the past few years. The company started its journey back in 1937 as Toyota Motor Co. Ltd. In the next year, production started in the Honsha plant of the company. In 1950 the company faced severe financial crisis. In the same year Toyota Motor Sales Co. Ltd. was established. In 1959 production started in another plant named Motomachi. In 1966 the company launched Corolla and in 1982 Toyota motor Sales Co. Ltd. merged with Toyota Motor Co. Ltd. and Toyota Motor Corporation was formed. Today Toyota’s main business is producing and selling automobiles. Its head office is situated in Tokyo, Japan. There are four brands through which the company sells its cars. These are Toyota, Lexus, Daihatsu and Hino. In addition to automobile production the company is also involved in other industries like housing, ITS, financial service, biotechnology & afforestation and marine.
There are some clearly defined guiding principles that help the company and its managers to handle the entire operation. Toyota believes that it is very important to become good corporate citizen and in order to do so it is important to honor the spirit of law and language of each and every nation it operates in. The company believes in fair and open corporate activities. Furthermore Toyota’s guiding principles also say that customs and culture of every nation need to be respected. It is also found that the company always tries to make some positive contribution to the social as well as to economic development of the communities. The company is found to be operating on the principle of providing safe and
...Download file to see next pagesRead More
Toyota Company has been a leading name in vehicle making for quite a lot of decades. Regardless of the nationalistic movement in the United States to “buy American”, the business has held its own, staying a leading and persistently developing company within the ‘corporate world of transportation.
The major business undertaken by Toyota is Motor Vehicle Production and Sales. It has been estimated that around 320,808 employees working at present in Toyota and its affiliated companies all over the world as of March 31, 20091 In the automobile industry Toyota do not need any introduction.
As Kim reports, presently, Toyota has developed a new long term strategy under which it aims to double profits by launching more hybrid models into emerging markets. Kim, Chang-ran. “Toyota aims to double profit under new strategy”. livemint.com. web 14 July 2011 In my opinion, the firm must give more emphasis on product quality rather than profitability since Toyota’s profit margins are currently weaker than other Japanese automobile manufacturers.
Therefore, the core dynamics of Toyota’s marketing which consist of its supreme quality testing, innovation, and its supreme ability to attract a solid customer base. One of the main components of Toyota’s marketing strategy is to focus on supreme quality testing.
The company makes use of the most advanced technology and relies upon the employees at all levels to increase the productivity and reliability. Toyota has established not only a top competitor image but also has become the global automotive in the international market.
A systematic approach is brought through the calculated ratios where liquidity, Activity, solvency/ leveraged, profitability and shareholder’s returns index are summarized. Industry indicators are also used to give a comparison to this motor corporation.
2005 was the company’s ninth successive period of outstanding sales in Europe. Sales grew by nearly 50 percent from 2000 to 2005. The novel plan was fiscally successful. The working profit augmented nine fold to $654 million in 2003. Introduction of the company in France, Turkey, Poland and Czech State boasted its income significantly.
Governments globally have also passed laws that call for environmental management and sustainable purchasing. Toyota has become one of the players in the industry that is taking environmental issues earnestly as part of its social corporate responsibility. The company