1. Brief description
Toyota Motor Corporationis the largest Japanese automobile manufacturer as well as one of the largest automobile companies in the world. It was initially established in 1933 as a part of the Toyoda Automatic Loom Works, Ltd. Later in 1937, it was named as the Toyota Motor Co. Ltd. Toyota established many related companies or business units, some of which are Toyota Machines Work Ltd. and Toyota Auto Body Ltd. In 1982 such business units were incorporated and the company was known as Toyota Motor Corporation.
Toyota has its headquarters in Toyota, Aichi, Japan. It has distributors and assembly plants in many foreign nations. The company’s vehicles are exported to more than 140 countries. Besides making automotive products, the company owns subsidiaries that produce products such as rubber and cork materials, steel, synthetic resins, automatic looms, cotton and woolen goods etc. It is also involves in the import and export of raw materials. F., 2
Besides being focused in the automotive industry, Toyota is also involved in certain non-automotive activities. These activities include aerospace, philanthropy, higher education, robotics and agricultural biotechnology.
The corporation has some philosophies behind the way it runs. For example, it asks its employees to be loyal and committed in exchange for regular pay rises, good pension plans and a safe, well run environment in which to work in. Toyota calls its employees ‘team members’ which makes them feel like an important part of the company. It has one of the most technical training programs where workshops are provided so that the potential employees can show their technical and practical skills alongside their ability to work as a team which is essential for the success of the corporation.
2. a. Competitive advantage
The competitive advantage of Toyota is its production system. The system has enabled the organization to overpower US and German
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