Toyota Motor Company is a well-known Japanese transnational corporation, and is well known thought-out the world as the second largest automaker of automobiles, trucks, buses, robots, and providing financial services. Its creator is Kiichiro Toyoda, born in 1894, and the son of Sakichi Toyoda, who was widely held as the creator of the automatic loom. On top of being well-known with its cars, Toyota also play a part in the textile business and makes automatic looms that are now fully automated, and electrically powered sewing machines that are offered in numerous parts of the world. It has quite a few factories around the world, which serve to manufacture and assemble vehicles for local markets. The company’s factories are found in nations such as the United States, Australia, Canada, Poland, France, Czech Republic, United Kingdom, Turkey, South Africa, Brazil, Argentina, Venezuela, Mexico, Japan, Indonesia, Pakistan, India, Mexico, Malaysia, Thailand, China, Vietnam, and the Philippines. Notwithstanding the many sites of its factories, Toyota’s headquarter is located in Toyota, Aichi, Japan (Toyota-global.com, n.d.).
2.0 SWOT Analysis of Toyota Motors:
|Strengths |Weaknesses | |Toyota is the world’s number one brand of automaker with 75 years of |The corporation’s organizational composition has become incompetent as| |experience so; it is the huge strength for the Toyota. |the corporation became more multifaceted. This deterred Toyota’s | |They are also notorious for being sympathetic toward community |capability to supervise its transnational network of companies, | |foundations. |divisions, and corporations.
The Essay on Running Head Toyota Corporation
Running head: TOYOTA CORPORATION Toyota Corporation April 12, 2009 Toyota Corporation Outline Company Overview The History of Toyota Corporation Toyota: Strategy Toyota: Objectives Toyota Corporation Company Overview Toyota Motor Corporation (NYSE:TM) (Tokyo:72030) is Japans #1 car manufacturer, known for its well-designed vehicles. Toyota brand is associated with durability and reliability, the ...
They forged the moving assembly line, which turn out to be their |The flaw of its organizational plan exposes the conjectures over the | |method for constructing vehicles more effectively and rapidly, as a |prospective performance of Toyota in the imminent, as the | |result more reasonable. |corporation’s funding section is overwhelmed by large unresolved | |By tradition Toyota’s transnational operations was a basis that |arrears. | |permitted the corporation to uphold its title as the second largest |The company is not in danger of insolvency, but the Toyota | |automaker on the planet and to counter GM’s aggressive moves. |organization is in a difficult position, and has to be very attentive | | |to not make it any stringent. There is also a noted organization | | |problems within the corporation. | |Opportunities |Threats | |Toyota Motors Corporation has the conspicuous chance to have purer |As with any company in the automotive business, Toyota will deal with | |engine emissions, in support of their company duty to become |very taut aggressive competition in the auto market. Rivalry is | |environment-friendly. |mounting, with the risk of new applicants unceasingly emerging into | | |the market from South Korea, China and new factories in Eastern | |As a result of working with ecological groups to assist with cleaning |Europe. | |the ecosystem, they also have the chance to further improve their |Toyota is also subjected to the danger of movement in the cost of | appearance to the general public. |resources such as steel, glass, rubber and fuel.
Given that they have already begun capitalizing in Solar Power, the |Though Toyota plans reacted to the local prospects and competitive | |end is a more feasible possibility. |advantages that were constructed over time in various nationalized | | |markets, the keenness of overseas processes was also reliant on the | |Toyota could further broaden the possibility of their prospects |corporation’s organization abilities and its general position in the | |through specifying and justifying its international operations on a |business globally. | |local basis and to acquire a network corporation in which its |If such issues were to function under expectation, their keenness in | |companies would increase their international connections. |the global scene would deteriorate extremely. |
The Research paper on Toyota Motor Corporation 2
... would have to increase by 1.25 or more to exceed the USA’s total score. Based on agreement with Toyota Motor Corporation in the selection ... an environmental factor outside corporate control. High market saturation will cause a proportional increase in supply costs, increase the likelihood of substitutes and could ...
(Marketingteacher.com, n.d.)
3.0 Balance Scorecard of the Toyota Motors:
|Financial |Customer | |Increase Revenues; Toyota Motors have great revenues in last some few |increase market Share; Toyota Motors have huge market share in 23 | |years such as; from the year of 2000 to 2006 the sales in United |countries all over the world such as; Canada, Australia, Indonesia, | |States were; 1,619,206, 1,741,254, 1,756,127, 1,866,314, 2,260,296, |South Africa, Unites States, China, France, United Kingdom and Japan | |2,542,524 and 2,620,825 respectively. In addition, the revenues in |etc. Its number of revenues in all over the globe is; in the year of | |Japan were; in 2009, the sales were 1,996,174 and in 2010, 2,203,849. |2010 Toyota Motors sold 8,418,000 cars to its customer which is the | |Moreover, the global production of Toyota Motors for the 2009 year |big figure therefore, it has been identified that Toyota Motors have | |were, 7,234,439 and in 2010, 8,557,351. (Toyota-global.com, 2006) |huge market share.
Decrease Costs; Toyota Motors have reduced its operating cost through | | |more production e.g. through producing more units of car fixed costs |Good Brand Image; Toyota Motors have very good reputation in front of | |of the Toyota Motors have been reduced. |its customers and they like to travel with Toyota cars because they | | |provide reliable and safe vehicles that inspire enthusiasm against | |Increase Shareholder Value; Toyota Motors have increased the |affordable prices therefore, it has been identified that Toyota Motors| |shareholder value via reducing its costs while maintaining its |have good brand image in the market. | |revenues increasing. | | |Internal Processes |Learning & Growth | |Increase Economies of Scale; Toyota Motors have achieved good |Increase Workforce Skills & Knowledge; Toyota Motors have provided | |economies of scale in the production of the cars; they are |good innovative training to its workforce for producing cars according| |consistently increasing its production of cars that shows that Toyota |to the demand of the customers.
The Term Paper on Toyota Motor Company
... to increase its global market share from 11% to 15%. This goal was irrelevant to Toyota’s guiding philosophy of “Customer First” ... Web. 24 June 2014. “Toyota.” The Toyota Motor Corporation. Web. 18 June 2014. “Toyota and Component Suppliers.” Toyota Motor Corporation. Web. 21 June ... This is part of Toyota’s commitment to making better cars and providing better services to customers, as well as ...
Motors have achieved economies of scale in workplace. Optimize Workforce; Toyota Motors have optimized its workforce skills | |Improved Car Offerings; Toyota Motors have introduced many cars to its|and abilities which enhanced the overall productivity of the Toyota | |customers after 2006 such as; Toyota T Sports, Toyota Winglet, Toyota |Motors therefore, it has been identified that Toyota Motors has | |Sports EV Twin, Toyota Sports EV, Toyota RiN, Toyota Prius+, Toyota |optimized it’s the abilities of the workforce. | |Prius PHV, Toyota Prius Plug-in Hybrid,
Toyota Prius Custom Plus | | |Concept and Toyota Prius c Concept. Due to the increase in the |Improve Technologies: Toyota Motors are using best technology in the | |economies of scale Toyota Motors have developed new models in order to|production of cars known as “Safety Technology & Quality” in order to | |facilitate its customers. |produce best car with less chances of accident therefore, it has been | |Improve Marketing; Toyota Motors have improved its marketing |identified that Toyota Motors have improved technology in the process | |everywhere including; United States, Japan and Australia etc. by using|of the cars. | |slogan “Moving Forward”. They are focusing on the quality of the | | |vehicle and experience of the Toyota as the marketing of its products.(Balancedscorecard.org, n.d.)
4.0 Importance of these Critical Success Factors in the Success of the Toyota:
Toyota Motors is clearly a dominant leader in automobile manufacturing and in the success of the Toyota Motors these CSFs have great importance because without these factors Toyota cannot achieve that milestone in the market. In addition, some facts and figures about the Toyota Motors in the US market are as follows,|Types |2006 |2007 |2008 |2009 | |Market Share of Toyota Cars in US market | | | | | | |8.6 % |9.2 % |10 % |10 % | |Market Share of Toyota Trucks in US Market| | | | | | |6.3 % |6.7 % |6.4 % |6.7 % | |Market Share of Toyota Cars & Trucks in US| | | | | |Market (Combined) | | | | | | |14.9 % |15.9 % |16.4 % |16.7 % |
(Wikinvest.com, n.d.)
This shows the real success of the Toyota Motors in the US because in the United States some big market players are operating such as; Honda, Ford, Nissan, General Motors and Chrysler etc. therefore, it was not easy for the Toyota Motors to grow. Toyota Motors gained huge success not only in US but also in many other countries as well and it all happened due to the CSFs of the Toyota. Further, the details of the CSFs of the Toyota Motors are as follows, 4.1 Increase Revenues: In the world, every organization has been introduced in order to earn profits and for this purpose it is very important to generate revenues. Further, revenues are very important due to several reasons such as, to pay the expenses of the running the business and to operate successfully in the market.
The Term Paper on The Orthopedic Motor Market: Minnesota Micromotors, Inc. And Brushless Motor Technology
APRIL 25, 2012 The Orthopedic Motor Market: Minnesota Micromotors, Inc. and Brushless Motor Technology Minnesota Micromotors, Inc. (MM), based in Minneapolis, was a manufacturer of brushless, direct current (BLDC)1 motors used in orthopedic medical devices. Devices utilizing MM’s motors were typically used by orthopedic surgeons in large bone surgery, reconstructive surgery, trauma surgery, and ...
If a business remained unable to produce profits, then it cannot pay running costs of the business and will become default in the future. In addition, to operate successfully in the market business needs money in order to develop new ideas and techniques that are why, it is very important to have good revenues in the market like Toyota Motors in this case (Stockresearchpro.com, n.d.).
4.2 Decrease Costs: Decrease cost has huge importance for any business in the world because through decreasing cost profit of the organization has been increased. In addition, the operating costs of the Toyota Motors have been reduced due to the increase in production of cars as mentioned above therefore, it is also very important factor for the success of the Toyota Motors.
4.3 Increase Shareholder Value: Shareholders are the most important factor for the Toyota Motors because they are the main source of finance for them that are why, it is very important to give value to the shareholder. Furthermore, in order to research on the latest technologies in order to improve the features of the car finance is most needed element because without it Toyota Motors can’t produce latest and innovative cars for its customers therefore; it is very essential factor for the success of the Toyota Motors (Gordon, n.d.).
4.4 Increase Market Share: In order to earn profits in the market the most important thing is the customer and Toyota Motors have big market share. Toyota Motors is operating in 23 countries and in all the countries it has huge market share so, it is also very important factor for the success of the Toyota Motors (Twoscenarios.typepad.com, n.d.).
The Term Paper on Toyota Motor Corporation
Toyota Motor Corporation General Information Toyota Motor Corporation was founded by Kiichiro Toyoda who was born in 1894. According to Toyotas Website, the company was established on August 28, 1937. Toyota Motor Corporation is the eighth largest company in the world and the second largest automaker in the world that assembles and manufactures trucks, automobiles, buses and robots. Toyota Motor ...
4.5 Good Brand Image: For Toyota Motors customers are the key of success because without customers it can’t operate successfully in the market. Good brand image is the one of the most important competitive advantage because good brand image means that customer is loyal with the business and they love that brand products that’s why, it is another important factor in the success of the Toyota Motors (Marketingdeviant.com, n.d.).
4.6 Increase Economies of Scale: Economies of scale is also very crucial factor for the success of the Toyota Motors because via economies of scale Toyota has managed to produce high number of products, which reduced operating costs of the Toyota Motors therefore, it has increased the overall profit of Toyota Motors (Infocheese.com, n.d.).
4.7 Improved Car Offerings: Customers need verity in product ranges that’s why, to attract customer or increase market share Toyota Motors have improved its car offerings in order to facilitate its customers because customers are the real preference for the Toyota Motors so, it is also very important factor for the Toyota Motors.
4.8 Improved Marketing: Marketing is very lethal in order to attract customers towards the brand and without the customers Toyota Motors cannot operate successfully in the market so; it is another very important factor in the success of the Toyota Motors (Exforsys.com, n.d.).
4.9 Increase Workforce Skills & Knowledge: Workforce has also very huge importance in the success of the Toyota Motors and that’s why, Toyota Motors provide training about the latest techniques to the workforce of the Toyota Motors so, it is also very important factor in the success of the Toyota Motors (Johnson, n.d.).
4.10 Optimize Workforce: in order to operate successfully in the market optimize workforce is the key of the success that’s why, optimize workforce is also very important factor in the success of the Toyota Motors.
4.11 Improve Technologies: Due to the modernism, technology is becoming most vital element for every organization including Toyota Motors and due to the improve technology Toyota Motors are managed to improve car offerings and increase market share so, it is another important factor in the success of the Toyota Motors (Bookfresh.com, 2009).
The Essay on Toyota Motor Corporation 5
... Development). Toyotas Performance Today, although Toyota Motor Corp. went through a decline in the U.S. stock market during ... the quarter, if not years ahead, includes increased risk given rising pricing pressures, continued ... management respects employees and believes that the success of its business is because of ... price, yield and tax status. Together, these factors help determine the value of your ...
5.0 Conclusion:
Toyota Motors is the multinational brand operating in 23 countries such as Australia, Poland, Pakistan, India, Russia, Turkey, Canada and Thailand. It offers wide range of automobiles, trucks, buses, robots, and providing financial services to its customers. Further, people in all over the world like to have Toyota Motors and they love to travel with Toyota cars because they are very satisfied with the quality and features of the car (Toyota-global.com, n.d.).
Toyota Motors has registered huge success in the market mainly due to the Critical Success Factors (CSFs) of the Toyota Motors such as; Financial (Increase Revenues, Decrease Costs and Increase Shareholder Value), Customer (Increase Market Share and Good Brand Image), Internal Processes (Increase Economies of Scale, Improved Car Offerings and Improved Marketing) and Learning and Growth (Increase Workforce Skills & Knowledge, Optimize Workforce and Improve Technologies).
These factors played a vital role in the success of the Toyota Motors. Moreover, these factors are not isolated at all whereas; they served the Toyota Motors as a whole in the great success of the Toyota Motors.
The Balance Scorecard of the Toyota Motors is established from the learning and growth and it helped the internal processes of the Toyota Motors to grow. Further, internal processes of the Toyota Motors helped to attract the customers. Moreover, the customers increased the financial capability of the Toyota Motors. For example, increase workforce skills and knowledge helped to improve marketing of the cars and its offerings in the market. Further, improve marketing increases the brand image and increases the market share of the Toyota Motors. Furthermore, the markets share helps to increase the overall revenues of the Toyota Motors, which increases the value of the shareholder. In addition, the improve use of technology helps to increase economies of scale within the workplace of the Toyota Motors and economies of scale helps to increase the market share and decreases the operating costs of the Toyota Motors.
Furthermore, Decrease in costs increase the value of the shareholder in the Toyota Motors. In the end, improve use technology helps to increase the economies of scale and cars offerings and cars offerings are used to increase the market of the Toyota Motors. Furthermore, the increase market share helps to increase the revenues of the Toyota Motors. Thus, from the learning and growth process to upward every factor is interlinked with each other so; each and every factor has huge importance for the next step and future success.
Toyota Motors have proved themselves as the market leader in the market through implementing these Critical Success Factors (CSFs) within the organization. In addition, it is not only about to implement whereas, it is also about the proper management and monitoring of these factors. Otherwise, it is not possible to achieve those particular results as Toyota Motors has achieved.