Study and discussion about toyota
Toyota motor company is one of the leading automotive company which was founded by Kiichora Toyoda in 1937. They launched first car in 1939 which was only two seater and it was called as Toyota AA. Now Toyota providing employment to 317,716 worldwide and they produced 8.6 million cars globally in 2011 with the revenue of 221,760.2 million. Toyota established in America, Europe, Africa and Asia. They are very committed towards their mission and vision and also for goals of the company. The headquarters of Toyota is in Japan. Toyota is leading car manufacturing company and it is totally based on their skilled staff because with their high efforts companies bringing new products for their customer. It means customer care department, service department, IT department, purchase department, HR department and Finance department. In the organisation, there are different motivational activities performed everyday to encourage the staff to achieve the mission of company. Toyota always updates their staff about the changes in technology to make sure they are on their right track to achieve the mission.
1.2 Mission and Objectives of Toyota: The mission statement of the organisation is the statement which shows the purpose and aims of the company. It represents the current purpose of company and existence reason. It also describes company’s stakeholders, customer and employees. The objective of the company provides a diagram of future endeavors of business. It is the main frame work for strategic planning. The mission or objective of the organisation is a critical factor which persuades its design. The objective of the organisation determines which meticulous sector of the environment it is ready to interact with. (Daft, 2010) For example, the mission statement for Toyota is “Toyota seeks to create a more prosperous society through automotive manufacturing”. Toyota mission statement shows the confidence of the company towards their customer to providing them top class products. Toyota wants to lead the automotive company around the world by providing safest and fastest product in the future of mobility. The commitment of Toyota towards quality, new invention and respect towards planet, they always try to reach the expectations of customer. They always try to achieve the difficult goals with the help of skilled staff. The objective of Toyota is to become a leader in automotive industry with satisfying the requirements of its customer. For the past few years company put so many efforts to produce high quality cars with brilliant design to make their customer feel them prosperous. There are also some set certain things they do for make the customer feel happy. Improvement In Quality Minimization In Cost Improvement In Efficiency Productivity Improvement Objectives: For maintenance of Toyota mission and vision the main purpose of company is to keep the motivation and beliefs of worker up. The main three Toyota corporate goals are: Increase the corporate value as a management priority Introducing new products according to customer needs More competitive in the auto mobile market The purposes of these goals are to increase the sale and profit, maintain high quality and expansion in the business. For achieving these mission and objectives, Toyota using several strategies like a system which is unique and totally focusing on management and decision making and also built in house committees to build up the operations. They also using system which flags the problem to different departments and also shows the prevention to measure and solving that problem. The objectives of Toyota is most important for organisation, they also knows the importance of practicability in their policies and principles for meet those objectives. In the first place Toyota is very expand brand and every nation has its own culture and beliefs. In that case they outline the policy and procedure which they are using for all their transaction in every region. Respect the language and law of every country Respect the society and beliefs of every country Provide safe and clean products Invent new technology for the customers
1.3 Performance of Toyota: Toyota performing very well in the auto mobile industry because of the mutual relationship with the corporation. As the management and high level officials set the laws and guideline which have to be followed by employees in every areas. As it is stated in Toyota annual report, the strategic approach used by Toyota for their management needs the execution of many systems for ensuring the success and support. For future they are working on the cars which is Hybrid, full electrical and fuel cell vehicles because they show the respect for planet. In this area they are keep working on to minimize the impact of environment by the cars. The activities include in it is conserving energy reducing the use of carbon dioxide and providing pollution free cars.
1.4 Structure of the organisation: According to (Daft, 2010) there are three key components in the meaning of organisational structure. Organisational culture delegates official reporting relationships with the increasing level of hierarchy and the controlling power of the managers and supervisors. It identifies the recruitment of individuals into the different departments of the whole organisation. It consist of the design of the methods to make sure about the communication, integration, coordination and the efforts across the departments. The structure of the organisation tied with its financial and human resource department. Fundamentals of Organisational Structure: Sources: adapted from Daft (2010)
1.5 Financial contribution to shape the structure of the organisation: The mission and objectives of Toyota is to create more prosperous society in its automotive field. But sometimes Toyota has to face tough situation in market share. From the analysis of Toyota financial position it is clear that the company was in the tough position as follows: From the financial report of 2009 Toyota beared the loss 437 billion yen. This happens when the sale volume which that the company take out its cost of production and other cost on final sale. Then the second position of the company from the 2010 financial report as follows: From this forecasted report the market share of Toyota shows a down sale. So it is tough to attain 15% market share till 2010. Then from the financial report of 2011 shows a growth of above 19% market share growth. Thus Toyota shows a clear structure and growth from the two years of their toughness. The objectives of Toyota are tied with its customer satisfaction. Toyota believes in being ethical in business and social sense. The ethics start with its core of the company and the way out.
1.6 Corporate Contribution in achieving objectives: The corporate contribution of Toyota for achieving their goals is very important because Toyota is continuously growing in international market. For company like Toyota using their knowledge, skills, expert staff and a wide range of talent for their successful functioning as it is expected. High level executives in Japan and US are employed by Toyota who hold most of the power as in business and in culture as well. Toyota also established a committee which only works to insure that proper level of management are providing in all areas. For quality and feasibility assurance Toyota engages different committee and meetings for providing wide range of information to their stakeholders. Through highlighting the mission statement company believe that the customers will choose and feel good about having the product. Toyota has conveys that commitment with the motto: "Rewarded with a smile by exceeding your expectations".
For company like Toyota using their knowledge, skills, expert staff and a wide range of talent for their successful functioning as it is expected. High level executives in Japan and US are employed by Toyota who hold most of the power as in business and in culture as well. Toyota also established a committee which only works to insure that proper level of management are providing in all areas. For quality and feasibility assurance Toyota engages different committee and meetings for providing wide range of information to their stakeholders. Through highlighting the mission statement company believe that the customers will choose and feel good about having the product. Toyota has conveys that commitment with the motto: "Rewarded with a smile by exceeding your expectations".
2.1 A change undertaken by Toyota: Toyota Motor Corporation (TMC) unveiled its “Toyota Global Vision” which is out line for the future is not only to give a way to the employees around the world, but also to reach the customers and the public at a very large scale. TMC learned that the company has facing the financial crisis through a series of product recalls. The Global Vision incorporation outlines how the organisation looks and what method of value it should honor Toyota outlined a plan to launch ten and more hybrid vehicles by 2015. The fundamental thinking for Global vision has three structures. One step beyond in the harmonious growth and reveal their accountability as a world leader. To become beneficial for society through value added products and technological innovation. Sharing the prosperity with employees.
2.2 Process of Visionary Management: For expressing the “Toyota Global Vision” company has employed a tree metaphor which is focusing on its “Roots”, “Trunk” and “Fruit”. Roots: it represents the shared values of the company in which the performance and guiding principles of the people at Toyota expressed over the years. They are the strength of ethics in manufacturing. Trunk: it expresses the strength of the business that support the activity of Toyota. Toyota’s tree metaphor represents the business as the trunk that gives the nutrition to all the parts of the tree to become enriched. Fruit: the fruit symbolize the company’s progress and success in the automobile host community.
2.3 Global initiatives for 2015: Toyota Global Vision “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way.” Toyota Global Vision formed from the cooperation of all the Toyota Company’s all over the world and its employees to create a new chapter for the history of Toyota. Toyota Motor Corporation rolled out the 2015 initiatives to be valid to the product quality, standard and the technological development. Toyota plans including to release more than ten hybrid car’s to get a strong emphasis on emerging markets to improve sales.
2.4 Toyota Production Model – 4 P Model: The 4p method is outlined on the chart given below Product strategy: Product demand: To create a new car with a great improvement in its design is a leading role of localization in the vehicle production and to meet the needs of each market is a big challenge to Toyota. Models for Minimizing Environmental Impact Expanding Toyota’s row of hybrid car’s with a full range of pure electric vehicles and fuel cell vehicles. So that it will continue to follow further gains in fuel economy in conventional gas engines. Lexus Strategy Lexus is a correct global premium branding to strengthen the product quality and adding value. It helps to expand the sales networks in the emerging market segment. Supply strategy Toyota can supply the product as follows: Japan one of the most Toyota production capacity in the word with a leading manufacturing experts of hybrid vehicles and highly added technical products. North America and Europe make best use of productivity at subsisting plants.Emerging markets emerging markets can expand the production capacity and the demands of its geographical positioning, and the range of investment in the expanded capacity. Diversification To participate in developing new communities company will patent a new variety of added value as a vital part in the connection between the vehicles, networks and homes. Continuous collaboration with the technology company can deploy smart centers globally.
2.5 Measures of profitability: Focusing on the year 2015 : 2010 Sales 2015 forecasted sale Industrialized nations : 60% Emerging markets: 40% Industrialized nations: 50% Emerging market: 40% This sales plan is measured from the model of minimizing the environmental impact and the needs in the emerging market. Through introducing the environmental friendly vehicles in the emerging market will strengthen the local production. Through strengthening the core functions in quality maximization, HRM, support of regional strategy and cost minimization will shape a strong business foundation by reconciling high quality with low cost. Toyota is able to achieve the goals of consolidated operating return on sales to 5% and restoring the parent company to profitability. Toyota can achieve an annual operating return on sales of 5%—operating income of about 1 trillion yen at the company's present sales volume—at a yen/dollar exchange rate of 85 yen to the dollar and at a unit sales volume of 7.5 million vehicles.
2.6 Positioning Regional initiatives: Toyota can position the regional initiatives as a driving force in Toyota Management. So the company can work through operations to supply unique product and services satisfactory for the community and nation. So Toyota can build a global frame work through the general way and deliver support for the programmes assumed by the regional operation. The regional operations will star to draw up the ideas that will explain their positions to play and concerns to deal with the Toyota Global Vision.
1.2 Mission and Objectives of Toyota: The mission statement of the organisation is the statement which shows the purpose and aims of the company. It represents the current purpose of company and existence reason. It also describes company’s stakeholders, customer and employees. The objective of the company provides a diagram of future endeavors of business. It is the main frame work for strategic planning. The mission or objective of the organisation is a critical factor which persuades its design. The objective of the organisation determines which meticulous sector of the environment it is ready to interact with. (Daft, 2010) For example, the mission statement for Toyota is “Toyota seeks to create a more prosperous society through automotive manufacturing”. Toyota mission statement shows the confidence of the company towards their customer to providing them top class products. Toyota wants to lead the automotive company around the world by providing safest and fastest product in the future of mobility. The commitment of Toyota towards quality, new invention and respect towards planet, they always try to reach the expectations of customer. They always try to achieve the difficult goals with the help of skilled staff. The objective of Toyota is to become a leader in automotive industry with satisfying the requirements of its customer. For the past few years company put so many efforts to produce high quality cars with brilliant design to make their customer feel them prosperous. There are also some set certain things they do for make the customer feel happy. Improvement In Quality Minimization In Cost Improvement In Efficiency Productivity Improvement Objectives: For maintenance of Toyota mission and vision the main purpose of company is to keep the motivation and beliefs of worker up. The main three Toyota corporate goals are: Increase the corporate value as a management priority Introducing new products according to customer needs More competitive in the auto mobile market The purposes of these goals are to increase the sale and profit, maintain high quality and expansion in the business. For achieving these mission and objectives, Toyota using several strategies like a system which is unique and totally focusing on management and decision making and also built in house committees to build up the operations. They also using system which flags the problem to different departments and also shows the prevention to measure and solving that problem. The objectives of Toyota is most important for organisation, they also knows the importance of practicability in their policies and principles for meet those objectives. In the first place Toyota is very expand brand and every nation has its own culture and beliefs. In that case they outline the policy and procedure which they are using for all their transaction in every region. Respect the language and law of every country Respect the society and beliefs of every country Provide safe and clean products Invent new technology for the customers
1.3 Performance of Toyota: Toyota performing very well in the auto mobile industry because of the mutual relationship with the corporation. As the management and high level officials set the laws and guideline which have to be followed by employees in every areas. As it is stated in Toyota annual report, the strategic approach used by Toyota for their management needs the execution of many systems for ensuring the success and support. For future they are working on the cars which is Hybrid, full electrical and fuel cell vehicles because they show the respect for planet. In this area they are keep working on to minimize the impact of environment by the cars. The activities include in it is conserving energy reducing the use of carbon dioxide and providing pollution free cars.
1.4 Structure of the organisation: According to (Daft, 2010) there are three key components in the meaning of organisational structure. Organisational culture delegates official reporting relationships with the increasing level of hierarchy and the controlling power of the managers and supervisors. It identifies the recruitment of individuals into the different departments of the whole organisation. It consist of the design of the methods to make sure about the communication, integration, coordination and the efforts across the departments. The structure of the organisation tied with its financial and human resource department. Fundamentals of Organisational Structure: Sources: adapted from Daft (2010)
1.5 Financial contribution to shape the structure of the organisation: The mission and objectives of Toyota is to create more prosperous society in its automotive field. But sometimes Toyota has to face tough situation in market share. From the analysis of Toyota financial position it is clear that the company was in the tough position as follows: From the financial report of 2009 Toyota beared the loss 437 billion yen. This happens when the sale volume which that the company take out its cost of production and other cost on final sale. Then the second position of the company from the 2010 financial report as follows: From this forecasted report the market share of Toyota shows a down sale. So it is tough to attain 15% market share till 2010. Then from the financial report of 2011 shows a growth of above 19% market share growth. Thus Toyota shows a clear structure and growth from the two years of their toughness. The objectives of Toyota are tied with its customer satisfaction. Toyota believes in being ethical in business and social sense. The ethics start with its core of the company and the way out.
1.6 Corporate Contribution in achieving objectives: The corporate contribution of Toyota for achieving their goals is very important because Toyota is continuously growing in international market. For company like Toyota using their knowledge, skills, expert staff and a wide range of talent for their successful functioning as it is expected. High level executives in Japan and US are employed by Toyota who hold most of the power as in business and in culture as well. Toyota also established a committee which only works to insure that proper level of management are providing in all areas. For quality and feasibility assurance Toyota engages different committee and meetings for providing wide range of information to their stakeholders. Through highlighting the mission statement company believe that the customers will choose and feel good about having the product. Toyota has conveys that commitment with the motto: "Rewarded with a smile by exceeding your expectations".
For company like Toyota using their knowledge, skills, expert staff and a wide range of talent for their successful functioning as it is expected. High level executives in Japan and US are employed by Toyota who hold most of the power as in business and in culture as well. Toyota also established a committee which only works to insure that proper level of management are providing in all areas. For quality and feasibility assurance Toyota engages different committee and meetings for providing wide range of information to their stakeholders. Through highlighting the mission statement company believe that the customers will choose and feel good about having the product. Toyota has conveys that commitment with the motto: "Rewarded with a smile by exceeding your expectations".
2.1 A change undertaken by Toyota: Toyota Motor Corporation (TMC) unveiled its “Toyota Global Vision” which is out line for the future is not only to give a way to the employees around the world, but also to reach the customers and the public at a very large scale. TMC learned that the company has facing the financial crisis through a series of product recalls. The Global Vision incorporation outlines how the organisation looks and what method of value it should honor Toyota outlined a plan to launch ten and more hybrid vehicles by 2015. The fundamental thinking for Global vision has three structures. One step beyond in the harmonious growth and reveal their accountability as a world leader. To become beneficial for society through value added products and technological innovation. Sharing the prosperity with employees.
2.2 Process of Visionary Management: For expressing the “Toyota Global Vision” company has employed a tree metaphor which is focusing on its “Roots”, “Trunk” and “Fruit”. Roots: it represents the shared values of the company in which the performance and guiding principles of the people at Toyota expressed over the years. They are the strength of ethics in manufacturing. Trunk: it expresses the strength of the business that support the activity of Toyota. Toyota’s tree metaphor represents the business as the trunk that gives the nutrition to all the parts of the tree to become enriched. Fruit: the fruit symbolize the company’s progress and success in the automobile host community.
2.3 Global initiatives for 2015: Toyota Global Vision “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet challenging goals by engaging the talent and passion of people, who believe there is always a better way.” Toyota Global Vision formed from the cooperation of all the Toyota Company’s all over the world and its employees to create a new chapter for the history of Toyota. Toyota Motor Corporation rolled out the 2015 initiatives to be valid to the product quality, standard and the technological development. Toyota plans including to release more than ten hybrid car’s to get a strong emphasis on emerging markets to improve sales.
2.4 Toyota Production Model – 4 P Model: The 4p method is outlined on the chart given below Product strategy: Product demand: To create a new car with a great improvement in its design is a leading role of localization in the vehicle production and to meet the needs of each market is a big challenge to Toyota. Models for Minimizing Environmental Impact Expanding Toyota’s row of hybrid car’s with a full range of pure electric vehicles and fuel cell vehicles. So that it will continue to follow further gains in fuel economy in conventional gas engines. Lexus Strategy Lexus is a correct global premium branding to strengthen the product quality and adding value. It helps to expand the sales networks in the emerging market segment. Supply strategy Toyota can supply the product as follows: Japan one of the most Toyota production capacity in the word with a leading manufacturing experts of hybrid vehicles and highly added technical products. North America and Europe make best use of productivity at subsisting plants.Emerging markets emerging markets can expand the production capacity and the demands of its geographical positioning, and the range of investment in the expanded capacity. Diversification To participate in developing new communities company will patent a new variety of added value as a vital part in the connection between the vehicles, networks and homes. Continuous collaboration with the technology company can deploy smart centers globally.
2.5 Measures of profitability: Focusing on the year 2015 : 2010 Sales 2015 forecasted sale Industrialized nations : 60% Emerging markets: 40% Industrialized nations: 50% Emerging market: 40% This sales plan is measured from the model of minimizing the environmental impact and the needs in the emerging market. Through introducing the environmental friendly vehicles in the emerging market will strengthen the local production. Through strengthening the core functions in quality maximization, HRM, support of regional strategy and cost minimization will shape a strong business foundation by reconciling high quality with low cost. Toyota is able to achieve the goals of consolidated operating return on sales to 5% and restoring the parent company to profitability. Toyota can achieve an annual operating return on sales of 5%—operating income of about 1 trillion yen at the company's present sales volume—at a yen/dollar exchange rate of 85 yen to the dollar and at a unit sales volume of 7.5 million vehicles.
2.6 Positioning Regional initiatives: Toyota can position the regional initiatives as a driving force in Toyota Management. So the company can work through operations to supply unique product and services satisfactory for the community and nation. So Toyota can build a global frame work through the general way and deliver support for the programmes assumed by the regional operation. The regional operations will star to draw up the ideas that will explain their positions to play and concerns to deal with the Toyota Global Vision.