...Toyota’s identification or focus on becoming the world’s leading car company was materialized in 2012 when they achieved record sales ahead of Volkswagen and GM which followed closely behind. The car industry however is one characterized by volatility and is highly susceptible to shocks or any slight change in the environment. Competition as well is extremely aggressive, car companies each day fight to be and stay at the top. Competitive advantage is usually short-lived thus Toyota has to constantly be looking for new ways of maintaining their competitive advantage. Their strategy, as highlighted in the case began with a focus on North America in the 1980s and 1990s where the company gained competitive advantage by emphasizing quality with lower manufacturing costs as opposed to their US counterparts. Toyota, continuing into the 1990s shifted its focus slightly to the European market, however they were criticized for designing reliable, yet ‘dull’ cars. The European consumer is deemed to be more style conscious and therefore this early approach by Toyota did not serve the company well. They changed their approach when they introduced the Yaris specifically for the European market which became somewhat of a success. The Toyota Production System has resulted in its success in lowering factory costs tremendously and achieving economies of scale. Strong supplier relationships, effective marketing and strong branding have also contributed tremendously to the company’s success....
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...CONTENTS INTRODUCTION ………………………………………………………………………3 TOYOTA……………………………………………………………………………......4 TOYOTA BRANDING STRATEGY………………………………………………… 5 NOKIA…………………………………………………………………………………. 6 NOKIA BRANDING STRATEGY…………………………………………………….7 REFERENCES INTRODUCTION Observing the 2013 and 2014 world global branding ranking, I noticed that the top ten brands are mostly brands that the 21st century would consider as essentials. Brands like Coca-Cola and Mac Donald’s (Food) apple (communication), Toyota (Transportation) etc. Innovative and technological product are the brands that are mostly at the top, highly innovative products who are also committed to a sustainable drive are seen growing from the bottom spot also. The top five spot remained unchanged from 2013 to 2014. With the top spot remaining unchanged so many changes were made at bottom spot and Nokia was a big fall out declining tremendously from 57 position all the way to the bottom three, Apple maintained the first position with a value of 118,863$m and a +21% while google and Toyota still maintained their spot, bottom slackers like Gap moved a spot up from 100 to 99th position. My research will be focused on Nokia and Toyota, talking about the the brands, their marketing strategies, how they have been able to increase their sales globally and their ranking performance among the global brands. TOYOTA MOTOR MANUFACTURING COMPANY Toyota is one of the worlds, popular automobile producers...
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...TOYOTA’S BUSINESS STRATEGIES IN INTERNATIONAL MARKETS Assist. Mihaela Funaru Ph. D Student University of Braşov Faculty of Economics and Business Administration Braşov, Romania Abstract:Toyota’s success both on the Japanese market and international market due to its desire to make products with high quality. The Japanese believe that nothing is so good that it can not be improved, so they constantly struggle to increase the quality of everything they do. This attitude can be expressed by a single word:”Kaizen”. It means „continuous improvement” and is the key word to guide them towards perfection. This paper presents the strategies of Toyota Company in their attempt to gain supremacy in the international market. JEL classification: M16 Key words: global strategy; international markets; technological innovation; hybrid systems; kaizen 1. TOYOTA MOTOR COMPANY Toyota Motor Corporation (TMC) is a multinational company that produces cars, trucks, buses and robots, with headquarters in Toyota City, Japan. Toyota is the largest car manufacturer in Asia and second largest producer. Toyota is one of the three major Asian car manufacturers competing U.S. producers on the world market, the other two are Nissan Motors and Honda Motor. Also the company provides financial services through its subsidiary, Toyota Financial Services, and works in other fields. Automotive products are sold under the names Toyota, Scion and Lexus. Toyota owns a majority stake in Daihatsu...
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...Table of Contents What are the company’s mission and current strategies? Risk Identifications and Implications Risk Management process Appointment of Risk Management Personnel: Actions of the Risk Management Committee Basic Approach to Internal Controls Business Continuity Management (BCM) at Toyota Risk Organization Risk management system Improve risk management Creation of the Emergency Operation Centre Creation of Global Large-Scale Disaster Countermeasure Committee Improving information telecommunication system in case of an emergency CSR Management Organizational Culture If you were hired as an Advisor: What recommendations or changes would you make? How would you implement these recommendations or changes? What are the company’s mission and current strategies? Toyota has for mission to be the first choice for all customers looking for materials handling solutions and to be widely recognized for their innovative products and services with a total respect for society. Toyota tries to build trust and confidence with their customers by delivering outstanding quality products and services which ass real value to their businesses. Toyota respects the expectations and ambitions of employees, stakeholders and suppliers through a constant search to improve. Toyota aims to achieve long-term and stable growth in harmony with the environment, the global economy, the local communities it serve and its stakeholders. The impact of the high Australia dollar...
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...Managing in a Global Economy Fall Term 2013 Chapter 2 Individual Application Papers Discussion Topic Explain what is meant by “global chess” and why companies that are adept at playing global chess have an advantage over their competitors. Instructor: John C. Sivie Student Name: Kejia Ren (Ryan) Student ID: 11481562 Due date: 09/11/2013 Chapter 2 Individual Application Papers Companies go international for a variety of reasons, but the goal is typically company growth or expansion. But there are some sets of macro forces that drive, constrain, and shape the industries in which entities compete globally. In this paper, it will focus on the “global chess” for the company, also discuss about the “global chess” and why companies that are adept at playing global chess have an advantage over their competitors. With the changes in the external environment, or changes in the internal environment, the major companies driven by a variety of factors carried out in global operations. Then there is the globalization trend for the company. This is called the “global chess” strategy. There are many company used the “global chess” strategy in their company. The “global chess” strategy consider worldwide companies operating have more advantages than only one country companies operating. The reason is that the company can be used the worldwide companies operating profitable in other countries company which make up for losses on the market. For example, the Toyota is a company which used...
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...Abstract This paper explores new marketing strategies initiated by Toyota Motor Company (“Toyota”) to improve the trust and overhaul of the company’s image in response to a $10M recall in 2010. The vehicles that were recalled resulted from an introduction of acceleration-related accidents for which Toyota encountered hundreds of lawsuits (Jacobs & Chase 2014). Naturally, the recalls and lawsuits threatened to tarnish the company’s image. Thus, in an effort to reconstruct this persona, the company improved in its total quality management (“TQM”) program which resulted in many new marketing strategies including, global advertising campaigns, technological developments, quality and safety reforms (Kozaki, Oura & Amasaka, 2012). Specifically, this included one of the new marketing initiatives included an international computer database being able to track all repairs, while decreasing customer complaints from months, to days (Jacobs & Chase, 2014). Additionally, Toyota accommodated the advertising strategy by eliminating national advertising campaigns for which they promoted the cars for safety, dependability, and reliability. The automaker also reorganized its just-in-time (“JIT”) and the Toyota Production System (“TPS”) production processes (Amasaka, 2009). Toyota announced a new managing director to restore and overlook all safety-related concerns, in addition to the company building Swift Market Analysis Response Teams (“SMART”), teams responsible for finding safety defects...
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...of the Company……………………….…………………………………………1 Standardization and/or Adaptation in Toyota…………………………..……………1 Marketing Mix: 7ps…………………………………………………………………..……………1 Standardization or Adaptation of Toyota’s Products……………………1 Standardization or Adaptation of Toyota’s Prices…………………………1 Standardization or Adaptation of Toyota’s Promotions……….………2 Standardization or Adaptation of Toyota’s Places…………………..……2 Standardization or Adaptation of Toyota’s Physical Evidence………2 Standardization or Adaptation of Toyota’s Processes ……………….…3 Standardization or Adaptation of Toyota’s People……………………….3 Conclusion…………………………………………………………………………………………..…4 2. Definition of Internationalization Process Theory (IPT) .4-5 3.Conclusion………………………………………………………………………………………………6 Conclusion……………………………………………………………………………………………..6 References…………………………………………………………………………………………….6 Introduction: Executive Summery This report will be discussing one of the world’s leading brands; Toyota Motor Corporation’s approach to international marketing, and how the company positions itself in the global market via the marketing mix. We will do this by looking at how Toyota standardizes and adapts different aspects of its marketing mix, and applies them to different regions throughout the global market. We will also be discussing the Internationalization Process Theory in order to better understand Toyota’s strategies in approaching the global marketing. Background of the Company Toyota Motor...
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...TOYOTA MOTOR COMPANY: AN IN-DEPTH STUDY OF THE SUCCESS OF THE KAIZEN PHILOSOPHY Toyota Motor Company recently claimed number one spot in global sales in the auto industry. Many practitioners of the “Toyota Way” concur that Toyota is the model company to imitate, but recent years Toyota has seen a decline in their core competence of quality control. Weaknesses to social and environmental fluctuations have had negative effects on Toyota’s continued profitability. Analysis of strategy and execution precedes recommendations for improving Toyota’s implementation of its famed kaizen philosophy. CURRENT SITUATION Background Toyota Motor Corporation (NYSE: TM) is a multinational corporation with headquarters in Japan. They are the world’s most profitable automaker, now having 15% market share in the U.S. (Taylor, 2007) They sold 2.5 million cars and trucks last year alone, causing them to displace Chrysler’s Big Three position in car sales in the U.S. Soon Toyota estimates it will beat out Ford’s sales, and not too distant in the future it will beat GM as well. Toyota has an admirable presence in the U.S., and even Fortune magazine has named Toyota as one of America’s Most Admired Companies—twice in a row. Toyota has returned the gratitude from the U.S. by deciding to enter in to NASCAR racing, and also by introducing the American-targeted Toyota Tundra full-sized pick-up truck. Profitability By no means does Toyota rely solely on the U.S., as their ability to turn...
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...Toyota has a global geographic structure with subsidiaries and plants all over the world. Toyota's external environment relates to major forces outside the organization with potential to influence significantly their products and services. Toyota America will be analysed in terms of the opportunities and problems they are currently facing and their likely contributing factors. Under the general environment we will be discussing the six dimensions: demographics, economic, sociocultural, global, technological and political/legal dimensions respectively. The current demographic situation in the US is that baby boomers are retiring. This will not directly influence Toyotas sales, but will influence the future buyers and vehicles that will need to be produced. Toyota is currently the most profitable automobile company in the industry. The general industry that Toyota competes is with the big three's and Honda. Right now the U.S. economy is in turmoil. Profitability outlooks are almost out the door. The American public is simply not buying, thus making it tough for Toyota along with their competitors. Threw out the late 40's to the present Toyota's sales have steadily increased. The reason for this increase in sales was the negative reputation that American people had against the Japanese after WWII. This stigma has long been forgotten in the American society, thus accommodate Toyota factories in the US in the late 80's. Presently the Toyota Company is widely accepted by general society...
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...pradeau@bordeaux.iseg.fr Course Code: 1A Risk Management I. Company Mission and Strategy 3 A. Strategy 3 B. A strong leader 4 C. A culture of performance 4 D. A strategy for long-term innovation 4 II. Risk Identification 5 A. Very competitive market 5 B. . Risk of suppliers 6 C. Risk of governmental regulations 6 D. Risk of digital and information technologies 6 E. Risk of innovation competition 6 III. Risk Implications 7 A. Very competitive market 7 B. Risk of suppliers 7 C. Risk of governmental regulations 8 D. Risk of digital and information technologies 8 E. Risk of innovation competition 8 IV. Risk Management Process 9 A. Very competitive market: 9 B. Risk of suppliers 9 C. Risk of governmental regulations 9 D. Risk of digital and information technologies 10 E. Risk of innovation competition 10 V. Benefits of ERM 10 VI. RISK ORGANIZATION 11 VII. Organizational Culture 13 VIII. Recommendations 14 Company Mission and Strategy The main source used for this work was the Toyota’s Annual Report. http://www.toyota-global.com/investors/ir_library/annual/pdf/2013/ Toyota, or officially Toyota Motor Corporation, is a car manufacturer based in Toyota City in Japan. The company operates in about 170 countries over the world. The company employs about 320.000 people and has production plants in every continent. This major company is the leader in the automotive industry with a turnover of more than...
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...A Brief Understanding of IBS ‐‐A Case Study of Toyota A Brief Understanding of International Business Strategy --A Case Study of Toyota by Peter LIU, peterliu@acculine‐mfg.com MSc International Business P14B45 International Business Strategy Lecturer: Dr Yee Kwan Tang Sponsored by 10 May 2010 Acculine Precision Manufacturing Company Tel: 0086-574-28887315, Fax: 0086-574-28875303, Web: www.acculine-mfg.com, email: info@acculine-mfg.com A Brief Understanding of IBS --A Case Study of Toyota Page 1 / 12 Content Introduction ........................................................................................................................... 2 Basic Concept of International Business Strategy ................................................................. 2 Brief Background of The World Auto Industry .................................................................... 4 Brief Background of Toyota .................................................................................................. 4 IBS of Toyota ........................................................................................................................ 6 Entry to US Market ........................................................................................................... 7 Americanization as A Way of Localization ...................................................................... 8 Recommendations...
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...TOYOTA MOTOR CORPORATION Toyota Motor Corporation is a famous Japanese multinational corporation and can be taken as the second largest producers of trucks, automobiles, robots, buses and financial services as well. Kiichiro Toyoda is the founder of Toyota who was popular for inventing the automatic loom. The spirit of creation and research was inherited by Kiichiro from his father and thus he spends his entire life in the spirit of manufacturing cars. Many years of hard work finally made Kiichiro in completing the A1 prototype vehicle in the year of 1935, which is said to be the beginning of creation of Toyota Motors Corporation. The company's first Type A Engine manufactured in the year 1934 was then used in the first Model A1 passenger car manufactured in the year 1935 and the G1 truck which was later manufactured in the year 1935 all which actually led to the AA Model passenger car in the year 1936. In addition to the car business, the company works on textile business as well where they made automatic loom and which is now working fully computerized and their electric sewing machines are available all over the world. The company now has a number of factories around the world where they manufacture and assemble vehicles within the local market for distribution. Toyota factories are located in countries such as Australia, United Kingdom, Canada, Czech Republic, Poland, United States, France, Philippines, Vietnam, China, Thailand, Malaysia, Mexico, India, Pakistan, Indonesia...
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...Executive Summary Toyota is arguably one of if not the most success automobile manufacturing companies in the world. With annual revenue of over $200 billion and over 300,000 employees across 27 countries, even the smallest decisions could have huge repercussions. It is the purpose of this audit to offer a in depth review and examination of Toyota’s marketing environment, objectives, strategies and activities to determine what are the key elements of their success, potential issues the need to avoid or improve on and any new opportunities to further maintain their position as industry leaders. Toyota has positioned itself as one of the automotive industry leaders with the highest market share when based on sales volumes. Toyota also maintains this strong market position across many countries. Toyota has developed a wide range of vehicles catering for all types of customers, from low to very high income, with easy access to their products thanks to a global distribution system. The company makes a strong effort to be well rounded and remains strong in innovation, brand reputation, good prices and international relationships. This strong market position is largely attributed to Toyota’s value proposition to provide customers with the best range of models, at affordable prices, all whilst maintaining our long-standing reputation for manufacturing excellence and for producing high quality vehicles that are safe and reliable. The efficiency and capacity of the Toyota production and...
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...Introduction Toyota Motor Corporation: A brief history The Toyota Motor Corporation was founded in 1937 by Kiichiro Toyoda. It originally started as a subsidiary of his father’s company Toyoda Industries. The first vehicle, the Toyota AA, was produced in 1936 even the company was still associated with Toyoda. The brand was established as an independent company in 1937 and changed their name to Toyota. The change of its name was implemented to signify a separation of work and home, to simplify the pronunciation and because it only took 8 brush strokes (which is considered lucky) to write in Japanese. Toyota opened their first factory in 1938 but it had to be cease production during World War II. In 1950 the Toyota Motor Sales Company was established and the company began production on the BJ Toyota Jeep, the BX truck and the SG small truck. In 1956 the Toyopet chain was established. The first vehicle to be sold under this name was the Toyopet SA. The product line was discontinued in the 1960s due to negative connotations with the words toy and pet. During the 1960s Toyota opened a new research and development facility as well as establishing a prominent presence in Thailand. During this time Toyota also celebrated the production of its 10 millionth model. In 1982 the Toyota Motor Sales and Toyota Motor Company formed a merger to become one company, the Toyota Motor Corporation. Following this the company entered into a joint venture with General Motors called the New United...
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...Research Toyota - The Global Automobile Manufacturing Industry (Cars) | | Contents History of Toyota 3 Introduction: 4 Toyota’s internationalisation strategy, internal /external triggers and an analysis and evaluation of those strategies and methods 5 The extent to which Toyota’s national environment contributed to its success as a multinational organisation using Michael Porter’s National Diamond Framework (1990) 7 Toyota and life cycle models: 8 Verification and Validation: Strategy 10 Conclusion 13 History of Toyota Toyota one of the largest car manufacturer’s in the world was bombarded with a series of issues in the last decade with multiple lawsuits causing the company millions of dollars in losses. An organization which was founded by Kiichiro Toyoda in 1933 started off producing passenger cars and then in 1937 focused solely on truck production for the Imperial Japanese army. In the early 1950’s Toyota was on the verge of bankruptcy when it pulled through by obtaining an order of more than 5,000 vehicles from the U.S. military for its war efforts in Korea. This then was the beginning and the opening for Toyota into the U.S. Market. In 1957 Toyota established its first sales, marketing and distribution subsidiary in the U.S., called Toyota Motors Sales Inc (TMS). In 1982 Toyota Motor Corporation formed a joined venture with General Motors, called NUMMI (New United Motor Manufacturing, Inc.) and began its operations in Fremont, California. Toyota’s...
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