Corporate Strategy of TOYOTA
1.0. Introduction:
The purpose of this research paper is to critically evaluate the Toyota Company. The evaluation of the company is carried through different models that include the SWOT analysis, Porters five force, PEST analysis and ANSOFT matrix. These models will help to evaluate the business thoroughly and the paper will also help for further researches in the area.
2.0. Business Overview:
2.1. Organizational Overview: Toyota Motor Corporation is Japan based company founded in 1937 that operates worldwide. It is the top company of Japan on the base of its market capitalization and thirteenth among top most companies of the world by its revenues. In 2012, the company was recorded as the most car manufacturing firm in the world.
2.2. Recommendations: Toyota motors are famous for their just in time manufacturing. The organization is doing well in this regard and competes with the world’s top car manufacturing firms (Michael M., 2000).. However the quality of the car as compare to other care manufacturing companies is not satisfactory. They should focus on the quality and designs of the car. As compare to Honda, the intense competitor of Toyota in Asia and some other regions, they have elegant designs and quality cars. Apart from that the company should also focus on fuel efficient and hybrid cars to increase its production and to make people aware of these cars.
3.0. Strategic Analysis of Toyota Corporation:
The corporate strategy of Toyota varies with time and its operations. In the recent era the corporate strategy of the business is to maintain the top position in the industry (Henry, A. 2008). The company is also striving to enhance its technology in order to increase the quality of its cars and to meet the needs of ever target market.
3.1. Strategic Analysis: Strategic analysis is the procedure by which the organizations assess its external and internal environment and the factors related to it. Organization then analyzes its strengths and
The purpose of this research paper is to critically evaluate the Toyota Company. The evaluation of the company is carried through different models that include the SWOT analysis, Porters five force, PEST analysis and ANSOFT matrix. These models will help to evaluate the business thoroughly and the paper will also help for further researches in the area.
2.0. Business Overview:
2.1. Organizational Overview: Toyota Motor Corporation is Japan based company founded in 1937 that operates worldwide. It is the top company of Japan on the base of its market capitalization and thirteenth among top most companies of the world by its revenues. In 2012, the company was recorded as the most car manufacturing firm in the world.
2.2. Recommendations: Toyota motors are famous for their just in time manufacturing. The organization is doing well in this regard and competes with the world’s top car manufacturing firms (Michael M., 2000).. However the quality of the car as compare to other care manufacturing companies is not satisfactory. They should focus on the quality and designs of the car. As compare to Honda, the intense competitor of Toyota in Asia and some other regions, they have elegant designs and quality cars. Apart from that the company should also focus on fuel efficient and hybrid cars to increase its production and to make people aware of these cars.
3.0. Strategic Analysis of Toyota Corporation:
The corporate strategy of Toyota varies with time and its operations. In the recent era the corporate strategy of the business is to maintain the top position in the industry (Henry, A. 2008). The company is also striving to enhance its technology in order to increase the quality of its cars and to meet the needs of ever target market.
3.1. Strategic Analysis: Strategic analysis is the procedure by which the organizations assess its external and internal environment and the factors related to it. Organization then analyzes its strengths and
References: Michael M., (2000). Corporate Strategies for FDI in the Context of Latin America’s New Economic Model. World Development Volume 28, Issue 9, Pages 1611–1626 Plunkett Research Ltd Henry, A. (2008) Understanding Strategic Management, Oxford University Press Scribd (2009) Value Chain Analysis of Toyota Co., Retrieved November, 27 2009 from http://www.scribd.com/doc/22372540/Value-Chain-Analysis-of-Toyota-Co Behura, (2009), R&D spend: Just 4 Indian cos in global list retrieved November, 29 2009 from http://economictimes.indiatimes.com/RD-spend-Just-4-Indian-cos-in-global list/articleshow/5229991.cms Bak, Richard (2003) Cusumano, M.A. (1989), The Japanese Automobile Industry, Cambridge, Mass: Harvard University Press Hill, C.W.L Liker, J (2004). The Toyota Way: 14 Management Principles from the World 's Greatest Manufacturer. McGraw-Hill Ohnsman, A., Green, J Toyota. (2002), The CCC21 Project—Leading the Way in Toyota’s Cost-Reduction Efforts viewed 03 May, 2010, http://www.toyota.co.jp/en/ir/reports/annual_reports/02/accelerating/strengthening2.html Valdes-Dapena, P Jeffrey K. Liker, Michael Hoseus. (2010). Human Resource development in Toyota culture: Int. J. of Human Resources Development and Management, 2010 Vol.10, No.1, pp.34 - 50 Lynch, R.L