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Toyota Motors are the leaders of the world automobile industry and is a multinational company with production facilities across the world. The present CEO is Mr. Fujio Cho and the company was ranked fourth by Forbes in 2002. Toyota Motors is a great colossus employing 246 thousand employees the world over. (Forbes.com, 2010) The company has its own system of management that is claimed to be the best and is known popularly as the 'Toyota way'. The success of the company is largely attributed to the people management being carried out at the company. Toyota's labor management and the company policies are based on the Japanese culture and climate. (Kono, 2001)
Japanese organizations regard human values and have great concern for the welfare of the employees. The Japanese believe in a lifetime employment system, and at Toyota, the employees are loyal to the organization. Japanese HRM policies and practices are the core of Japanese companies and this core is also transferred to the foreign subsidiaries. In Japan, HRM practices strongly reflect characteristics of Japanese culture. Some such concepts are the: lifetime or long-term employment and wages based on seniority and the company-dominated unions. (Kono, 2001)
Now let us discuss about the problems faced by the company. Recently the Toyota way of kaizen philosophy has failed in the electronics...
There are technical management problems and the customer trust on a global scale stand to be lost if there are more mishaps in the manufacture or design. Recall problems was prevalent in all automobile companies like Ford and GM. Toyota needs to consider the way the electronic programming of cars is showing up flaws. (Ohmae, 2010)
Toyota had to recall a lot of vehicles on account of manufacturing faults, something that must never have happened considering the history of the Toyota model of production. It can be seen that when the company began the process of the organization of its assembly lines back in 1990, the system came to be called the Toyota production system or lean production system. Later on Toyotism II was created to increase job attractiveness to the Japanese workers where the workforce is diminishing. The process also generated an economic advantage in reducing cash flow to automation and investments. Thus the reengineered system is in place to ensure employee satisfaction and customer satisfaction. This is achieved by a balance between lean production process and fat plant and equipment design. (Dosi, et al., 2001)
The current problem is that from 1990 to the end of 2010 there has not been any fault in the manufacture or Toyota's automobile design and engineering. The system was created…
References
Forbes.com (2010) "Toyota Motors" Forbes International 500.
Retrieved 30 January 2011 from http://www.forbes.com/finance/lists/17/2002/LIR.jhtml?passListId=17&passYear=2002e=Company&uniqueId=1F2R&datatype=Company
Giovanni Dosi et al. (2001) "The Nature and Dynamics of Organizational Capabilities."
Oxford University Press: Oxford, England.
Even More Focus on Its Customers" Retrieved 30 January 2011 from http://www.toyota.com/about/news/corporate/2010/12/21-1-Progress.html
Bnet.com/2407-13071_23-93482.html). When it comes to the younger consumer Toyota moved to establish an air of secrecy around the Scion both designed and priced to attract the younger consumer. With ads that as: Pssst... have you heard about Scion (Scion bbX concept (http://www.popularmechanics.com/automotive/new_cars/1270196.html?page=2)?" Toyota created an air of mystery which attracts young adults in any area of life (Scion bbX concept (http://www.popularmechanics.com/automotive/new_cars/1270196.html?page=2). Toyota also began holding parties, providing music and using other elements that
Therefore, they use strict evaluation criteria to make choice among different alternatives. Keeping in view the strength of customers' bargaining power, Toyota and other automakers are expending huge amounts on advertisements and promotional campaigns to create awareness about their brands and convince these customers to prefer them over all other brands (Jenny & Scammon, 2010). 5. Internal Environmental Analysis for Toyota Motor Corporation 5.1. The Resources Types: Like other types of business
Analysis of Toyota Opportunities and Threats Toyota is the world's leading patent holder in hybrid vehicle technologies, having over 85% of all patents registered in the U.S. Patent Office, in addition to holding over forty different patents in other registries throughout Europe and Asia. This is a formidable platform for growth in this high-growth emerging line of business. Hybrid technologies can reduce carbon emissions by over 60% in the latest engine
Toyota Strategic Management For decades, Toyota has been one of the most admired companies in the world. They were able to turn their image in the 1960's and 70's from cheap Japanese import to the car of choice for millions of consumers worldwide. Toyota's strategy has varied significantly over the years. The company began by primarily imitating many of its competitor's designs and even used some of its components. Much of
Toyota - a Visionary Company: Since its inception, Toyota Company has continued to use its guiding principles to develop reliable vehicles and sustainable development of the society through the use of innovative and high-quality products and services. One of the major goals of the firm is to develop products that exceed the expectations of customers with regards to quality and safety. Moreover, Toyota is currently working towards the achievement of zero
12. It has not been implemented in a wide enough spectrum to really gain the attention of parents on a national level. 13. Marketing towards one single brand image sometimes limits a company's capability to market its diversified product line. 14. Targeting previous customers through follow up ay waster valuable resources. T h r e a t s 1. Utilize the global Toyota presence to keep financial budgets and cash flows under control. 2. If