Toyota's Future Strategic Plans Toyota

Toyota's Future Strategic Plans Toyota Motor Company's future strategic plans are divided into three categories: one year plan (short-term), two-year plan (mid-term), five-year plan (long-term) depending on the duration but also on the complexity of the ideas to be developed. The one year plan includes the apparition of new products and finding ways to cut costs or even already planned growths which are not put into practice. According to Toyota Motor Company's official website, the company is always seeking progress.

Although they do not yearly come up with a new model of an automobile, the company has managed to achieve some of its goals when discussing the cutting down of costs. Toyota Motor Company is currently developing its hybrid technology and even planning for 2008 the emergence of a new model: "The Lexus commitment to hybrid technology continues with the launch of the all-new 2008 LS 600h L.

premium luxury hybrid sedan when it goes on sale this summer." When dealing with the problem of cutting down costs there are some ways by which this can be done: investing in new technologies like the hybrid one, trying to find long-term solutions for daily problems, or in finding new ways of consolidating their products, by using better materials and moreover by coming up with new ways of improving the labor conditions.

Moreover, by planned growths on a short-term Toyota Motor Company tries both to enter pre-established markets and gain a sale-quota or implement the project already discussed and planned. When it comes to very large companies, such as Toyota Motor Company, it is really hard to determine which are the one year plans and which are mid-term or long-term plans because a one year plan could be developed further on, could be applied on other markets in the following years or, it could be the starting point for other projects.

That is, it is quite hard to focus on short-term plans, other than what already has been established so far. Two year plans (mid-term) are more easily identifiable as they are either planned projects that exceed one year, planned improvements to efficiency or planned growths. Most implementation projects usually take more than one year. In this sense, Toyota Motor Company tries to always improve in all domains.

They are currently developing their it programs to support the ongoing expansion but at the same time to manage to keep their unity all over the world. Moreover, Toyota Motor Company is trying to improve its technology, by renewing its fabrication line and the technology used all over the world.

"By 2008, Toyota will have the annual capacity to build nearly 2.2 million cars and trucks in North America." due to the fact that Toyota Motor Company will open a second plant at Toyota Motor Manufacturing Canada in Woodstock, Ontario in 2008 in order to sustain the ones in North America. Furthermore, Toyota is not just a place to work, but it strives to become a family for its employees and, moreover, a friend for the environment and the community.

For all these to be possible, Toyota Motor Company has different partnerships with organizations and environmental friendly companies among which: Nissan, Environmental Assistance Center, Green Earth Center and Volkswagen. The idea of corporate responsibility finds a high support when we talk about Toyota Motor Company, as it gets involved in short, middle and long-term projects that help maintain and even improve the life of the community and the environment in itself.

When speaking about long-term plans, that is, plans which have an applicability of about 5 years, Toyota Motor Company tries to consider new opportunities such as to expand the international division, to diversify its product line, to constantly improve their technology and to become a friendly environmental company. Moreover, when designing these long-term projects the company focuses also on the competitors and try to keep itself on top of them or, at least, to keep the level as high as today.

Toyota Motor Company constantly seeks to find new available markets, where it could enter and sell its products or where it could build a factory (this way reducing transportation costs and import taxes). "Toyota (NYSE:TM) established operations in North America in 1957 and will operate 15 manufacturing plants in North America by 2010" Moreover, the company is constantly entering new markets such as Australia and Eastern Europe.

When it comes to competitors, Toyota should not worry that much, but should find a way to keep up the good work and maintain its place at the top. "Toyota has become the fourth-largest automaker in North America." When speaking about sales this is what their report says:"July 3, 2007 - Torrance, CA - Toyota Motor Sales (TMS), U.S.A., Inc., today reported all-time best-ever first-half year sales of 1,331,074.

June sales of 245,739, an increase of 6.1% over last June, contributed to a record-setting second quarter, with sales of 725,219 units" Trying to sum up, it seems like Toyota's Strategic Plans are quite similar in essence no matter if we refer to short-term project implementation or long-term investments: The Company strives to offer better products, lower costs, environmental friendly industries, and to sustain the communities which "welcomed" the company among them.

Bibliography Toyota Motor Sales, U.S.A, 2006-2007,accessed at July 2007, http://www.toyota.com White Papers, 2007, CNET Networks, July 2007, http://whitepapers.techrepublic.com Toyota Motor Corp. TechRepublic Resources, 2007, CNET.