Corporate Responsibility (Toyota)
What Toyota aims to do to contribute to society through the means of manufacturing of vehicles. Toyota aims to provide its utilities and resources to the local community including its relations to its employees, stakeholder and partner. Continuous and strong participation from all stakeholders will allow the company to benefit in both profit and the environment with the support of NGOs Economic Responsibility
Toyota is major car making company that produces many of the vehicles used in Australia. It is business that makes profit by manufacturing cars and selling it from a local standpoint, to a global scale around the world. With the development of new technology and innovative ideas being emplaced onto new cars. Toyota will gain more profit progressively each year and will survive with the competitive industry. The car company has sold more than three hundred thousand vehicles in total with one of the units listed as one of the top selling vehicles of the year. However reports, show a drop in profits throughout the year as factors such as global financial crisis which lead to increases of materials and currency and changes to customer requirements. Due to the decrease in profit from the previous year, Toyota took a number of measurements to counter the effects like saving initiatives and support programs. Legal Responsibility
Just like any other businesses, Toyota must be compliant to obey the law and the rules that govern society. One the law that Toyota obeys is obtaining an environmental license to improve vehicles on producing less pollution and raising awareness to environmental concerns. This meant actions such as review of managing waste into the environment and reducing environmental impact. Toyota has also stated in their seven guiding principles that “Honour the language and spirit of the law of every nation and undertake open and fair corporate activities to be a good corporate citizen of the world”. Toyota must...
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