Toyota Motor Corporation is a Japanese automaker headquartered in Toyota City, Japan. It manufactures automobiles and also provides financial services. The company was founded in 1937 and has grown to become one of the largest automakers in the world. In the late 2000s, Toyota faced several recalls due to issues with accelerators sticking in certain models. Toyota addressed these problems by recalling millions of vehicles worldwide to check and repair the issues, making changes to improve safety processes, and working to rebuild their public image and reputation for quality.
Toyota is a one of the leading automobile manufacturers in the world. You will gain valuable insights on its popularity among the consumers, and also find a detailed SWOT analysis of the automobile company from this presentation.
Toyota is a one of the leading automobile manufacturers in the world. You will gain valuable insights on its popularity among the consumers, and also find a detailed SWOT analysis of the automobile company from this presentation.
Running Head STRATEGIC AUDIT TOYOTA COMPANY 1STRATEGIC AUD.docxtodd521
Running Head: STRATEGIC AUDIT: TOYOTA COMPANY 1
STRATEGIC AUDIT: TOYOTA COMPANY 59
Strategic Audit: Toyota Company
Dr. Mario Hayek
Debo A Ogunseinde
GLB/Strategic Management - 527
June 30, 2019
Table of Contents
I. Introduction 4-5
Toyota Company History 5-9
Toyota Company Worldwide: Acquisition 9
II. Industry Overview 10
Automotive Industry 11
Revenue Streams 12-13
Costs and Expense 13
III. External Environment 14
Political Impacts on Toyota Company 14-23
Economic Environmental Impacts on Toyota Company 24-29
Socio-Cultural Impacts on Toyota Company 30-33
Technology Impacts on Toyota Company 33-35
IV. Porter’s Five Forces 36
Competition in the Automotive Industry 52
The threat of New Entrants into the Automotive Industry 38-41
The threat of Substitute Products 41-44
Bargaining Power of Customers 44-46
Purchasing Power of Consumers 46-50
V. Toyota Company SWOT Analysis 52
VI. Internal Environmental Analysis 52
Strengths of Toyota Company 52-54
Weaknesses of Toyota Company 54-56
VII. Environmental and Industry Analysis 56
Opportunities of Toyota Company 56-57
Threats of Toyota Company 57-58
VIII. Environmental and Industry Conclusion 59
References: 60-64
I. Introduction
Toyota Company is a multinational Automotive Corporation with its headquartereds in Toyota City, Aichi Prefecture Japan. Toyota is among the top ten what number are they? automotive companies in the world despite being the biggest what does this mean? car manufacturing company which was founded back in the 1930s. This company besides being the main car producer, it involves itself please make sure to edit this paper; I expect graduate degree work or partners with large industrial groups which involve themselves in electronics, machinery, and finance. In 1933, the founder of Toyota Company named Kiichiro Toyoda begun the automotive division which was a transformation from textile machinery production (Jürgens, 2015). In 1935, Toyota Company made its successful trial on its own produced cars, upon its car launch, the production units increased significantly due to the impacts of World War II.
In around 1970s???, the company had a total production unit of about 10 million and it becomes isn’t this past tense???the main supplier of cars in North America. From the 1960s to 1970s was the self-expansion period for this company before starting to face competition from other car producers in the market and the new entrants. The main competitors of Toyota Company in the Automotive industry include Ford Company, General Motors Company, Volkswagen Company, Suzuki Company, Nissan Company, Honda Company, Fiat Chrysler Automobile Company, BMW and Mercedes Company (Jürgens, 2015).
Toyota Company is majorly a strong competitor for Ford, Hyundai, as well as Volkswagen which are the other well-known makers of cars in the automotive industry according to…?. The main focus of Toyota is on sustainable expansion besides the production of electric po.
Driving innovation brought us much distinctive prosperity, not only having a fun, but carrying, communicating, further lifestyle, business scheme. In terms of marketing experiences, automobile has been usually arguing among the professionals. Elaborative marketing plot is intricately injected into the mutually blood. We can see respectively character on their history.
Automotive Intelligence for Professionals: The Japan AutoBook includes company profiles of OEM car makers, multinational and local automotive parts suppliers as well as organizations, media and exhibitions.
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Automotive Intelligence for Professionals: The Japan AutoBook includes company profiles and contact information of OEM car makers, multinational and local automotive parts suppliers as well as organizations, media and exhibitions.
It also includes detailed statistics about Automotive sales, market share and OEM capacities.
The Japan AutoBook helps you to identify new customers in the Automotive industry and provides key contact information.
Overview of Toyota.
You can find in this presentation history of Toyota, Who founded the compay, evolution of Toyota cars, swot analysis of Toyota, 4P's of Toyota, and Toyota Production System (TPS)
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2. 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.
3. 1. Company Overview..
Mission Statement:
The mission of the Toyota Motors Corporation is to make
maximum long-term profits for its stockholders and be a
good corporate citizen.
Vision Statement:
To become the most successful and respected car company
in each market around the world by offerring customers the
best purchasing and ownership experience.
4. Akio Toyoda
Toyota Headquarter
Toyota City, Japan
5. 2. Company Profile.
Company Name Toyota Motor Corporation
President and Representative Akio Toyoda
Director
Company Address ( Head 1 Toyota-Cho, Toyota City, Aichi Prefecture 471-8571, Japan
Office) Phone: (0565) 28-2121
Date founded August 28, 1937
Capital 397.05 billion yen (as of March 31, 2011)
Fiscal Year From April 1 to March 31 of the following year
Main Business Activities Motor Vehicle Production and Sales
Number of employees 317,716 (as of March 31, 2011)
(consolidated)
6. 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.
7. 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.
10. 4. Marketing Strategy/System.
● Marketing: ● Strategy: ● " Toyota Way" Four
Toyota's marketing efforts in North Based on five princebels; Components:
America have focused on
emphasizing the positive ● 1. Challenge 1. Long-term thinking as a
experiences of ownership and ● 2. Kaizen basis for management
vehicle 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 the
a feeling!" (1979 – September 1985, ● 5. Teamwork organization by
in the US),"Who could ask for developing its people.
anything more?" (September 1985 4. Recognizing that
– 1989), "I love what you do for continuously solving
me, Toyota!" (1989–1997), root problems drives
"Everyday" (1997–2001)", "Get the organizational learning.
feeling!" (2001–2004), and
"Moving Forward" (2004–
present).
11. 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.
12. 5. Problems the Company Had..
2. January 21, 2010 Accelerator pedal
recall:
Toyota initiated a second recall, this time in response to
reports of accelerator pedals sticking in cars without floor
mats.
13. 5. Problems the Company Had...
3. February 3, 2010 Anti-lock brake
software recall:
The NHTSA announced that it had received reports from 102
drivers of possible problems related to the braking system on the
MY 2010 Toyota Prius, while an additional 14 such reports had
been received in Japan. Three of these reports claimed that brake
problems had led to the car crashing.
14. 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.