TOYOTA

Toyota



Toyota

Introduction

The selected company for the purpose of this assignment is Toyota, which is a Japanese multinational company, founded in 1933 by Kiichiro Toyoda. In the year 1980, Toyota first caught the attention of the world, when it came in to existence there was something special about Japanese efficiency and quality. Japanese cars lasted longer than American cars and require fewer repairs.

History-Toyota Corporation

After the WWII (World War II) companies were facing fierce competition imposed by mass production systems of American companies. The companies of Japan were especially facing this problem because of lack of natural resources, which made it necessary for them to import vast amounts of raw materials from other parts of the world. Thus, Japanese companies where under tremendous pressure condition in terms of cost of raw materials as compared to their counterparts companies of European and American. This forced the company to rethink their strategies in order to cope up with the fierce competition. Therefore, the management of Toyota thought somewhat different from the rest of the world if indeed they want to sustain in this fierce competition. The only solution that Japanese industries find in order to overcome this problem is by putting their best efforts in order to produce better quality goods having higher added value, and at even lower production cost as compared to other countries. This led The Toyota Motor Company (TMC) made a thorough study of the production system of the American automobile industry and in Ford now also known as (the Ford Production System, FPS) .

Change in the Business Environment

Today the world transformed extraordinary for all mankind. A time great urgency and pressure that many far-reaching changes must occur if the future of humanity is to attain the fullness that humanity can expect.

In terms of Toyota, from the day one, Toyota is trying to minimize the errors related to the road accidents and environment pollution. However, Toyota management realized that without the involvement of the employees it is not possible to move on. Therefore, the need arises, and the management wanted to build the company on a learning base environment,

Similarly, the management felt that there is the scarcity of interaction between the employees, which lead to the various problems while working together. Therefore, that was another need that management felt to overcome. Toyota has previously practice all the HR activities, but it does not have technological involvement in it. Afte that Toyota Motors implement comprehensive strategies for instance they have done proper integration.

Industry Analysis

The domestic auto industry that had witnessed a 67% drop in volume over the last couple of years bounced back but with severely eroded margins. I am pleased to report that your Company outperformed the industry and market at large under difficult circumstances. Despite serious economic crises in the country's recent history, the GDP growth in the outgoing year was 4.1% following the modest increase of 1.2% in 2008-09. A combination of limited fiscal space, rising public spending, debt burden, energy shortages, internal security and inflationary pressures ...