The environment is responsible for more company changes that the general public often realizes. The future of a company depends on the reaction that the company has to environmental changes. By not adapting to the changes, companies could ultimately end up failing. Recognizing that the environment is changing, businesses need to be able to adapt their products to keep up with new opportunities and balance a strategic fit between the environment and the company (Wheelen and Hunger, 2010). Toyota: A Responsibility to the Environment
Toyota led the revolution on economically friendly vehicles when the Toyota Prius was introduced in the United States in January 2009 ("The fifth toyota," 2011). The Prius is the first in a long line of cars since 2009 to be marketing towards not producing dangerous emissions harmful to the environment. Toyota recognized the need for more energy efficient cars to reduce and adapted to meet the need. This quick move resulted in Toyota standing out as a leader within the automobile industry.
In 2011, Toyota introduced the Fifth Toyota Environmental Action Plan. This action plan sets the precedence for standards for 2020 through 2030. The three themes throughout the action plan is construction of a low-carbon society, construction of a recycling-based society, and the construction of a society that coexists with nature and environmental conservation ("The fifth toyota," 2011). Toyota is committed to developing the next generation of vehicles that rely on clean energy such as electricity rather than fuel. Toyota also will ensure market acceptance of these new vehicles by having these vehicles stand out with different characteristics that customers will want to have ("The fifth toyota," 2011). Toyota is seeking to stimulate the hybrid vehicle market by introducing new models and expanding the hybrid vehicle market field ("The fifth toyota," 2011). Toyota is also working with consumers directly by...
References: The fifth toyota environmental action plan (fy2011-fy2015). (2011). Retrieved from http://www.toyota-global.com/sustainability/environmental_responsibility/action_plan/fifth_plan4.html
Our commitment to the environment. (2014). Retrieved from http://www.fpl.com/environment/commitment.shtml
Wheelen, T. L., & Hunger, J. D. (2010). Concepts in strategic management and business policy: Achieving sustainability (12th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.
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