Dr. Stephen Onu
Toyota Motor Corporation was founded in Japan on August 28, 1937. The headquarters of Toyota Motor Corporation are located in Aichi, Japan. The headquarters for Toyota's U.S. operations is located in Torrance, CA. Japanese multinational automaker Toyota employed 300,734 people worldwide, and was the third-largest automobile manufacturer in 2011 by production behind General Motors and Volkswagen Group. Toyota is the eleventh-largest company in the world by revenue. In July 2012, the company reported it had manufactured its 200-millionth vehicle. The company was founded by Kiichiro Toyoda from his father's company Toyota Industries to create automobiles. Toyota Motor Corporation group companies are Toyota including the Scion brand, Lexus, Daihatsu, and Hino Motors.TMC is part of the Toyota Group, one of the largest conglomerates in the world.
Toyota has factories in most parts of the world, manufacturing or assembling vehicles for local markets. Toyota has manufacturing or assembly plants in Japan, Australia, India, Sri Lanka, Canada, Indonesia, Poland, South Africa, Turkey, Colombia, the United Kingdom, the United States, France, Brazil, Portugal, and more recently, Argentina, Czech Republic, Mexico, Malaysia, Thailand, Pakistan, Egypt, China, Vietnam, Venezuela, the Philippines, and Russia.
Stock value of Toyota
2. Country analysis
Toyota Motor Sales, USA Inc. was eastablished on October 31, 1957. The first Toyota retail dealership was opened in Hollywood, CA and it was called Toyota Motor Sales, USA, Inc. Mission statement is “Moving People in a Better Way. Toyota’s mission statement is really a global vision about how to move people around the planet in a better way. Toyota has become one of the best automobile companies and one of the most popular car brands in the U.S. automobile industry largely because it is able to live up to its own lofty mission statement:
"Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people”. Toyota's management philosophy has evolved from the company's origins and has been reflected in the terms "Lean Manufacturing" and Just In Time Production, which it was instrumental in developing. Toyota's managerial values and business methods are known collectively as the Toyota Way. In April 2001, Toyota adopted the "Toyota Way 2001", an expression of values and conduct guidelines that all Toyota employees should embrace. Under the two headings of Respect for People and Continuous Improvement, Toyota summarizes its values and conduct guidelines with the following five principles:
✓ Kaizen (improvement)
✓ Genchi genbutsu (go and see)
According to external observers, the Toyota Way has four components:
➢ Long-term thinking as a basis for management decisions ➢ A process for problem-solving
➢ Adding value to the organization by developing its people ➢ Recognizing that continuously solving root problems drives organizational learning Toyota's marketing efforts in North America have focused on emphasizing the positive experiences of ownership and vehicle quality. The ownership experience has been targeted in slogans such as "You asked for it! You got it!" (1975–1979), "Oh, what a feeling!" (1979 – September 1985, in the US), "Who could ask for anything more?" (September 1985 – 1989), "I love what you do for me, Toyota!" (1989–1997), "Everyday" (1997–2001), "Get the feeling!" (2001–2004), "Moving Forward" (2004–2012), and "Let's Go Places" (2012-present).
Toyota’s success was a result of a significant cost advantage over its American competitors. Toyota’s cost advantage was the result of its innovative Toyota Production System (TPS). Detroit carmakers were unwilling to adapt...