Toyota Motor Corporation
Toyota, Aichi, Japan
1933 by Kiichiro Toyoda
USD$173 Billion (2005)
Total Number of Employees
285,977 (March 2006)
Toyota Financial Services, Daihatsu Motor Co., Ltd., Hino Motors, Ltd., DENSO, Toyota Industries
Automobile manufacturing, Financial services, Biotechnology
Toyota, Lexus and Scion
Toyota Moving Forward (It’s time to Move Forward)
8th largest organization
2nd largest in automobile industry
Toyota Motor Corporation, a Japanese MNC, or widely known as Toyota markets vehicles to over 170 countries. Toyota’s automotive business, including sales finance, accounts for more than 90% of the company’s total sales. In March 2006, Accountancy Age reported that Toyota (fiscal years ended 31 March) had already sold almost 8 million vehicles worldwide. Diagram below shows Toyota annual global production from 2002 to 2006. Annual sales had been climbing steadily with the latest global sales hitting at 7,974,000 units (Toyota, 2006).
Diagram 1: Toyota’s Annual Vehicle Production. Fiscal years ended March 31.
Source: Toyota Financial Highlights
Toyota Motor Corporation operates under the basic principle of ‘kaizen’. The Japanese word ‘Kaizen’ means continuous improvement. In step with kaizen, Toyota Production System (TPS) was established to monitor the continuous improvement Toyota has in mind for their corporate expansion. The essence of Toyota’s production control system is simply focused on to provide the best quality, lowest cost and shortest lead time through the elimination of all non-manufacturing wastes. This is instilled in all aspects of Toyota’s production (Toyota Vision and Philosophy, 2006).
Back in the 1950s, Toyota’s industrial production was substantially below its pre-war peak at only 10,000 trucks.... [continues]
Cite This Essay
(2008, 05). International Business: Toyota. StudyMode.com. Retrieved 05, 2008, from http://www.studymode.com/essays/International-Business-Toyota-150729.html
"International Business: Toyota" StudyMode.com. 05 2008. 05 2008 <http://www.studymode.com/essays/International-Business-Toyota-150729.html>.
"International Business: Toyota." StudyMode.com. 05, 2008. Accessed 05, 2008. http://www.studymode.com/essays/International-Business-Toyota-150729.html.