Toyota Motor Corporation A Company Overview and Success Story
1. Company Overview.● Toyota is headquartered in Toyota City, Aichi.● In addition to manufacturing automobiles, Toyota provides financial services through its Toyota Financial Services division and also builds robots.● the founding family name is Toyoda (豊田), the company name was changed in order to signify the separation of the founders work life from home life, to simplify the pronunciation, and to give the company a happy beginning. Toyota (トヨタ) is considered luckier than Toyoda (豊田) in Japan.
1. Company Overview..Mission Statement:The mission of the Toyota Motors Corporation is to makemaximum long-term profits for its stockholders and be agood corporate citizen.Vision Statement:To become the most successful and respected car companyin each market around the world by offerring customers thebest purchasing and ownership experience.
Akio Toyoda Toyota Headquarter Toyota City, Japan
2. Company Profile.Company Name Toyota Motor CorporationPresident and Representative Akio ToyodaDirectorCompany Address ( Head 1 Toyota-Cho, Toyota City, Aichi Prefecture 471-8571, JapanOffice) Phone: (0565) 28-2121Date founded August 28, 1937Capital 397.05 billion yen (as of March 31, 2011)Fiscal Year From April 1 to March 31 of the following yearMain Business Activities Motor Vehicle Production and SalesNumber of employees 317,716 (as of March 31, 2011)(consolidated)
3. Company History.1933 Automobile department established within textile loom maker Toyoda Automatic Loom Works, now known as Toyota Industries, founded by Sakichi Toyoda, an inventor.1935 First vehicle, the Model G1 truck, built. First Toyota dealership established.1936 Production starts of its first car, the Model AA.1957 Crown becomes first passenger car made in Japan to be exported to the United States.1962 First overseas vehicle plant, in Brazil.1964 First Asian vehicle plant outside Japan, in Thailand.1972 Cumulative production in Japan reaches 10 million vehicles.1989 Toyota starts luxury Lexus brand in North America.1992 - First European car plant begins production in Britain.1997 Prius, the first mass-produced hybrid car, offered.1998 Toyota takes majority stake in minivehicle maker Daihatsu Motor.
3. Company History..1999 100 millionth Toyota vehicle produced in Japan.2001 Toyota takes majority stake in truck maker Hino Motors.2003 Toyota makes 6.78 million vehicles and overtakes Ford Motor in annual sales to become world No. 2 behind General Motors.2005 Toyota takes minority stake in Fuji Heavy Industries, maker of Subaru cars, for cooperation in vehicle technology development and use of its U.S. factory.2006 Toyota takes minority stake in truck maker Isuzu Motors to beef up diesel engine technology.
4. Marketing Strategy/System. ● Marketing: ● Strategy: ● " Toyota Way" FourToyotas marketing efforts in North Based on five princebels; Components:America have focused onemphasizing the positive ● 1. Challenge 1. Long-term thinking as aexperiences of ownership and ● 2. Kaizen basis for managementvehicle quality. The ownership (improvement) decisions.experience has been targeted in ● 3. Genchi Genbutsu (go 2. A process for problem-slogans such as "You asked for it! and see) solving.You got it!" (1975–1979), "Oh, what ● 4. Respect 3. Adding value to thea feeling!" (1979 – September 1985, ● 5. Teamwork organization byin the US),"Who could ask for developing its people.anything more?" (September 1985 4. Recognizing that– 1989), "I love what you do for continuously solvingme, Toyota!" (1989–1997), root problems drives"Everyday" (1997–2001)", "Get the organizational learning.feeling!" (2001–2004), and"Moving Forward" (2004–present).
5. Problems the Company Had. 1. Sep. 29, 2009 Floor mat recall: Toyota recalled 55,000 sets of heavy-duty rubber floor mats from the Toyota Camry and ES 350 sedans. The recalled mats were of the optional "all-weather" type. NHTSA stated that the recall was due to the risk that unsecured mats could move forward and trap the gas pedal.
5. Problems the Company Had..2. January 21, 2010 Accelerator pedalrecall:Toyota initiated a second recall, this time in response toreports of accelerator pedals sticking in cars without floormats.
5. Problems the Company Had...3. February 3, 2010 Anti-lock brakesoftware recall:The NHTSA announced that it had received reports from 102drivers of possible problems related to the braking system on theMY 2010 Toyota Prius, while an additional 14 such reports hadbeen received in Japan. Three of these reports claimed that brakeproblems had led to the car crashing.
6. What solutions they found?● Recall all the affected cars worldwide for check and repair.● Trying to change the public image of the company.● Major changes in the Safety Department.