...Running Head: Ford Motor Company and the Toyota Motor Corporation Ford Motor Company and the Toyota Motor Corporation AIU – MGT680 Abstract Two major automakers are Toyota and Ford. This paper will compare the two companies to better understand the contributions to for success of each company. This paper will include a SWOT analysis which identifies strengths, weaknesses, opportunities, and threats to these companies. It will also include a plan of action for one weakness to turn them into strengths. It will discuss the current issues being faced by each company and how it affects the global operation because of the importance. Ford Motor Company and the Toyota Motor Corporation Ford Motor Company was started by Henry Ford in 1903 (Heritage, 2014). Toyota Motor Corporation was started by Kiichiro Toyoda in 1935 (50 Years, 2014). While each firm has been able to develop a relationship between the political and economic forces within their communities, they also understand a strategic plan is important and will guide them to an effective relationship within their communities. This type of plan will help the two firms build brand name as both firms have successfully done. The following table will illustrate the main issues Ford and Toyota are facing. It briefly explains the current position or view of each company to help better understand who the two firms view their community responsibilities. Issues Ford Toyota Legal, Social and Economic Environments Follows...
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...Toyota and Ford Comparison L. Johnson MGT680-1203B-12 Abstract Toyota and Ford companies are two of the major players in the auto industry. Comparing the two companies helps to understand what contributes to the success of each. The SWOT analysis can be used to identify weaknesses and a plan of action to turn those into strengths. The current issues faced by each company affect how it operates globally. It is important for each company to understand how each issue affects its operations. Introduction Every firm creates a relationship between the political and economic forces within its community. Toyota and Ford understand the importance of developing a strategic plan that guides them on how to create effective relationships within the community. This helps with building brand name, which both companies have done successfully. Ford and Toyota’s current position on the main issues that they face and a SWOT will be done to show their current market position. Issues The following table will compare the current issues faced by Ford and Toyota. The current position/views of each company are briefly explained. The purpose of this table is to understand how Ford and Toyota view their responsibility to the community. Understanding the companies’ positions help to develop strategic plan suggestions. |Issues |Ford |Toyota | |Legal, Social and Economic...
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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 and Hino...
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...How Political Factors Affect Business Activities in Asian Countries . Contents . 1. Introduction………………………………………………………………………..……..3 2. Political Factors That Affect Business………………………………………...4 1) The Case of Toyota Motor Corporation………………….….……..5 2) The Case of Taiwan………………………………..…………….…….…….8 3. Conclusion…………………………………………………………..…………………..…9 4. References……………………………………………………………………………..….10 Introduction For every business, internal factors, such as the company’s culture, vision, and its own products are extremely important for their success. However, the external factors are also so important that every business should pay special attention to them. A model has been invented to describe those external factors that influence business activities. This model is called the “PESTLE Analysis”, which is formally known as “PEST”, and was first invented by Francis Joseph Aguilar, in his book “Scanning the Business Environment”. PESTLE Analysis is a model to analyze external factors that may have impact on business activities. P stands for Political, E,S,T,L,E, stand for Economic, Social, Technological, Legal and Ecological.(Francis, 1967) In this model, the first factor, the political factor, can impact most aspects of our society, whether for individuals or organizations, in developing countries or developed countries. The reality is that any strict policies, tense political situations, or even a little transformation may cause the business to suffer...
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...Operations Improvement Plan for Toyota Angie Beckey Capella University Author Note This paper has been prepared for MBA6022 Strategic Operations Management Section 103 Executive Summary Clear and transparent communication efforts are critical in the strength of an organization. These efforts go beyond the internal walls of an organization and extend to their external customers. Effective and efficient communication is crucial to an organization on how consumers perceive the company and brand. There seemed to be a significant break-down across the lines of communication within Toyota, which resulted in a significant negative public perception of the organization and brand. Toyota Motor Corporation is in need of a communications overhaul across the entire organization to prevent future crisis’s and to retain market share, as well as capture additional market share. Implementing a communications improvement plan across the organization will cost approximately 11% of working capital, however, the opportunity cost of restoring and maintaining the reputable brand that has been known for reliability, durability and quality will be priceless. Operations Improvement Plan Implementation “The art of communication is the language of leadership.” – James Humes The purpose of this paper is to illustrate why Toyota is in need of a communications improvement plan overhaul. I have identified the root cause of the accelerator recall crisis as a lack of critical and pertinent information...
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...Project Toyota Group II Class: GM 591 Instructor: Gerardo H. Chaljub Executive Summary Toyota Motor Corporation is a multinational corporation headquartered in Japan and is the world's largest automaker. As of 2008, Toyota employs approximately 316,000 people around the world. In 1934, while still a department of Toyota Industries, it created its first product Type A engine and in 1936 its first passenger car the Toyota AA. The company was eventually founded by Kiichiro Toyoda in 1937 as a spin-off from his father's company Toyota Industries to create automobiles. Toyota currently owns and operates Lexus and Scion brands and has a majority shareholding stake in Daihatsu Motors, and minority shareholdings in Fuji Heavy Industries Isuzu Motors, and Yamaha Motors. The company includes 522 subsidiaries. In January 2009 it announced the closure of all of its Japanese plants for 11 days to reduce output and stocks of unsold vehicles. Toyota Philosophy: Toyota's management philosophy has evolved from the company's origins and has been reflected in the terms "Lean Manufacturing" and Just in Time Production, which it was instrumental in developing. The Toyota Way has four components: 1) Long-term thinking as a basis for management decisions, 2) a process for problem-solving, 3) adding value to the organization by developing its people, and 4) recognizing that continuously solving root problems drives organizational learning. The Toyota Way incorporates the Toyota Production...
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...Promotion and Advertisement: Toyota and Tata BUS508 – Contemporary Business Promotion and advertisement are very important for any business company. The main goal of any business company is to make people buy their products or services. If the companies can’t make people know about their products or their services, it won’t be possible for them to make people buy their products. Promotion and advertisements make people aware of the products or the services of a particular company. Most of the great business companies of the world have reached the highest peak of success because of effective promotion and advertisements. Actually, promotion and advertisement is mainly important for a company in the early stages of their business. It can be seen that the products of the reputed companies don’t need a lot of promotions and advertisements for increasing the amount of sales. As they have a great reputation already, their products are bought by people. In this paper two companies and their promotion and advertisement strategies will be compared. One company is a very reputed one and the other one is an emerging one which is getting a good reputation gradually. Both of these companies are automobile companies. The reputed company is Toyota and the other company is Tata (Tatamotors.com, 2014). Promotional Strategies Well, it can easily be understood that the promotion strategies of Toyota and Tata won’t be the same as these two companies don’t have the same customer base. Still...
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...RUNNING HEAD: Toyota Corporation Toyota Corporation Marketing Plan Marketing Management Leslie W. Martin Jr Toyota Corporation is one of the world's leading car manufacturing companies. . Toyota has a wide variety of vehicles ranging from cars, to trucks and SUV's in order to accommodate every consumer generation. Toyota's main competitor's in the market is Honda and Hyundai. Since the decline of the economy Toyota has been working tirelessly to create eco friendly cars and promote the green initiative, As a result the company has rolled out a chain of hybrid solar power cars. Toyota has also marketed the new 2009 Corollas, which are guaranteed to get more miles per gallon of gas than the any full size vehicle in its class. Toyota's marketing strategy is as follows: define marketing goals and policies and devise tactics, and competitive strategy. Toyota's marketing team convene on a weekly basis to discuss the competitions' strategies, and where they are succeeding. Toyota then creates a competitive strategy based on the findings. The top advisors of the company prepare a targeted marketing plan, market a regional performance report, update and establish new contacts within banks for financing and leasing purposes, and monitor sales during their weekly meeting. By doing this, Toyota will stay at the top of a competitive market. Toyota's target market is a potential or current customer between the age of 18-60 years old. Toyota's promotional strategies include but are...
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...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, new government regulations, changing customer preferences and increased product competition have impacted significantly on Toyota and have forced us to review and transform the way we do business. In addition to their...
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...to assess market potential, Toyota needs to determine the best regions for growth to ensure cost and quality. Based on market figures (Figure 10 & 11), the following GE Matrix is drawn up to show the likelihood of the following market outcomes: Figure 11: GE Matrix showing international market approach The above graph was plotted based on information and the following criteria – Available resources, effective use of resources for maximum milking, potential business this market can bring in for the company, potential establishment of market leader Based on the above, the implications and resulting suggested approach is: Asia – A strong defense strategy. Manufacturing in Asia is relatively cheap, hence the recommendation to put efforts into R&D of materials, manufacturing and work closely with suppliers and manufacturers to keep costs low, for higher profit margins. 1 USA’s market is attractive, however competition is stiff with GM and Ford. Toyota needs to increase positive consumer perceptions to push sales and establish itself as a market leader. Latin America is a growing market with an unstable and undominated automotive industry. Toyota can choose selective markets or products and use an S-O to attack the market and establish presence. This strategy can apply to Africa too, with an added advantage that Africa is geographically closer to manufacturing plants in Asia. Europe has seen a fall in the automotive industry and Toyota not even...
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...An assignment On Marketing Plan Submitted by: Submitted to: Date of submission: Table of Contents Executive summary: 5 Introduction: 7 Methodology: 7 Part A- Essay: 7 A.01 Changed perception in marketing plan: 7 A.02 Barriers to marketing plan: 7 Marketing function isolation: 8 Organizational barriers: 8 Demographic factors: 8 Economic factors: 8 Technological factors: 8 Culture: 8 A.03 Techniques for overcoming barriers to marketing plan: 8 Be strategic: 8 Be realistic: 8 Stay focused: 9 Monitor the budgets: 9 Market research: 9 A.04 Importance of marketing plan in the strategic plan: 9 Product: 9 Price: 9 Promotion: 9 Place: 9 A.05 Ethical issues in marketing plan: 10 A.06 Organization responses to ethical issues: 10 Individualistic approach: 10 Communal approach: 10 A.07 Example of consumer’s ethics and the effect on the marketing plan: 11 Part B: Preparing marketing plan 11 B.01 Organizational capability evaluation: 11 Business experience: 11 Business reputation: 11 Company culture: 11 Business environment: 11 B.02 Techniques used in organizational auditing and analyzing external factors: 11 B.03Carried out organizational audit and external factors analysis that affect marketing plan: 12 SWOT analysis of the Toyota Company: 12 PEST analysis for Toyota Company: 13 B.04Marketing plan: 14 Marketing objective: 14 Objectives: 14 Strategy statement market share: 14 Brand awareness:...
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...& Recommendations | 10 | 7 | Bibliography | 14 | INTRODUCTION Toyota Motor Corporation, is a Japanese multinational automaker headquartered in Toyota, Aichi, Japan. In 2010, Toyota Motor Corporation employed 317,734 people worldwide, and was the world's largest automobile manufacturer by production. The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles. TMC is part of the Toyota Group, one of the largest conglomerates in the world. It created its first product, the Type A engine, and, in 1936, its first passenger car, the Toyota AA. Toyota Motor Corporation group companies are Toyota (including the Scion brand), Lexus, Daihatsu and Hino Motors, along with several "non-automotive" companies. Sakichi Toyoda invented the Toyoda Model G Automatic Loom in 1924 incorporated the principle of Jidoka, which means that the machine automatically stops itself when a problem occurs, later becoming a part of the Toyota Production System. RESEARCH PROBLEM: Toyota has long been recognized as an industry leader in manufacturing and production. Toyota's management philosophy has evolved from the company's origins and has been reflected in the terms "Lean Manufacturing" and Just In Time Production, which was instrumental in developing Toyota's managerial values and business methods collectively known as the Toyota Way. In 2010, the Toyota Motor Corporation ranked first by the International Organization of Motor...
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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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...The Marketing mix tool helps with structure when coming up with a product. The marketing mix consist of four important elements to plan and execute a product: Product, price, place and promotion. Products are goods, services or ideas that represent the needs or wants a consumer. The price of a product comes from how much the consumer is willing to pay for goods, services or ideas. The Placing is where you want to sell the product that reaches the right consumers. Promotion is how you are going to advertise your product. The 4 P’s of the marketing mix support each other. For creating a Product you have to make all decisions regarding your product like variety, quality, design, features, brand name, packaging, services etc. The tangible product I choose is cars. The product is interesting to me because where I live it really aims for the needs of consumers. In many places it aims for both needs and wants. According to CNN Toyota won the global sales for 2015. Toyotas market not only concentrates on one consumer but various. It is very diverse like the Welcab series automobile is design for people with disabilities and the elderly. The welcab series is wheelchair accessible and they can be driven by people who have no legs. Toyota reduces market-based risk because it reaches a wider market. When Toyota was founded in 1937 it was a local business and then it became a global company in the auto motive industry. The price is when the product is ready for sell, including discounts...
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...Identifying Process improve Toyota Process Improvement Abstract This paper will address the identification of processed used by Toyota Corporation during the accelerator crisis. It will identify the process used and the core problems with the process. In part A of the paper the paper addresses the issues that began with sticky gas pedals, floor mats, and pedal entrapment and braking issues on some models of Toyotas vehicles. The quality of the vehicle was the issue. In part B of the paper the issue was safety and this lead to drivers dying because of safety issues. In part C of the paper Toyota has a lean process established that had no buy in from employees or Leadership which contributed to issues with their product. Toyota thought they had implemented a learn culture that consist of problem solving, teamwork, and a continuous improvement culture to sustain lean. Toyota Process Improvement Toyota is considered a global leader in the automobile business. Toyota has dominated the market with accolades from several organizations endorsing the Lexus as well as the Camry on a top ten list of best cars to own. Toyota had the market share of 12.8 percent. Toyota was based in Japan in 1933 and was introduced to the United States of American in 1957. Toyota made a name for them for producing reliable vehicles with superb quality. This paper will identify several processes for improvement that Toyota has researched, developed, or incorporated due to the crisis of the...
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