Toyota Motor Corporations
Essay Preview: Toyota Motor Corporations
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Introduction.The history of one of the worlds leading automobile manufacturers starts in 1937 with a name Toyota Motor Corporation (TMC) which is now known all over the world. Nowadays Toyotas vehicles are sold in more than 160 countries. Such brands as Toyota, Lexus, Hino and Daihatsu are famous Toyota Motor Corporations “sons” selling more than 7 million units a year. They are highly respected and valued. TMCs stability in the world economy that is observed today is a result of a hard work and dedication, a result of an extraordinary flexibility and competence. TMC was one of the first companies to realize the importance of “sensitivity” to the needs of the customers and the change in the global enviroment and successfully adjusted to it.
Toyotas distinctive competencies. The first real step of this Japanese corporation was the adaptation of its main strategy program – “New Global Business Plan” in 1995. It main priority is advancing globalization and localization. One of the first goals was the increase of import of the Toyota vehicles. For these reason the company has made a tremendous work in expanding the existing plants and building new ones in various territories throughout the world. It is represented by lost of affiliates, 11 subsidiaries and 12 Toyotas plants in Japan and 45 manufacturing companies all over the world. The speed of meeting the demands of the customers made the company a leader in the sphere of technology and globalization. The term “globalization” does not refer only to Toyotas spreading, but also the benefits that the functioning of this corporation brings to the world. Besides the quality car-manufacturing Toyota supports the globalization through its diversity strategy, attracting the minorities and giving them career opportunities. This results in the constantly growing number of Toyotas employees that nowadays is around 300,000.
The cooperation of all Toyota Motor Corporations branches makes a strong “automobile network” able to meet the demand of any group of customers. Toyota also supports various environmental organizations and was the first to present the fuel-cell vehicle. The corporation is set for the technologies of the future. The companys activity has really contributed into the distinctive competencies it possesses today. The advancing localization has increased the number of plants making Toyota a giant in car manufacturing and providing its extraordinary success; it especially concerns Toyotas activity in North America.
Toyota Motor Corporations is working on an internationally coordinated production system and is planning to extend all over China, “conquering” the biggest market. Another very important competency to mention is Toyotas cost structure, which is aimed to reduce parts and materials costs in