Strategic Management Essay Example | Topics and Well Written Essays - 1250 words - 3

Strategic Management - Essay Example Toyota Motor Corporation Toyota Motor Corporation is a company that is leading globally in manufacturing and sales, in the automobile industry. Its main aim is to make better cars and be able to contribute to the society at large. Toyota Motor Corporations is committed to considering the customer first by manufacturing vehicles that are of high quality and those that are of affordable price (Toyota Motor Corporation, 2009). Toyota Motor Corporations believe in a bigger and brighter automobile future. Their main objective is to try and understand the customers’ needs and be able to provide services and products according to these desires. Therefore, Toyota motor corporations is endeavored to pursue the right way forward, to be able to further their growth and make each stakeholder happy and satisfied(Toyota Motors Corporation, 2009). Internal analysis and SWOT Toyota Motor Corporation is termed as the largest manufacturing company of cars by production and sales in the automobi le industry (Schmitt, 2010). It is also the largest manufacturing company in the US, and it is currently operating under five principles, which include; challenge, Kaizen, GenchiGenbutsu, respect, and teamwork (Toyota way, 2001). Despite all these, the Toyota Corporation is faced with strengths, weaknesses, threats, and tries to create opportunities to better their company, like any other in the world. Some of the strengths in the motor corporation include; being able to develop vehicles through innovative technology, and this has been achieved through putting more emphasis on the technological development, healthy corporate environment in which people are able to work and be taught at the same time. This is generalized as working together (Toyota Motor Corporation, 2009). Another strength, is that of tight integration of its group companies and this has helped them to contribute a lot on the economic growth of the nation, and are able to be the pioneers of the creation of a domesti c automobile industry, they are also able to penetrate through the well-known markets including; (Japan, north America and US) (Toyota Motor Corporation, 2009). Apart from the strengths, Toyota Motor Corporation is experiencing some weaknesses within its industry and these include; criticism over large scale recall in 2005, the company was blamed for producing low quality products that lacked innovations. This criticism encouraged them to focus more on designing more innovative cars so as to cater for the customers’ needs. They have gone ahead to make the latest models of primus and hybrid cars, keeping in mind the customers’ satisfaction (Takahashi, 2010). According to Armstrong and Kotler (2002), to be able to manufacture products that are of high quality with stable prices without putting pressure on the competitors will earn the company, a customer’s loyalty, and this is evident in Toyota Motor Corporation. Toyota Motor Corporation is also faced with the wea kness of foreign importation by the Japanese industry, and the company has strived to conquer this problem by producing low priced products in exchange of high quality products (Toyota Motor Corporation, 2009). Toyota Motor Corporation is also faced with the problem of global inefficiency; this means that it is only offering its brands to Japan and US while other competitors offer their brands globally. Therefore, to be able to curb this problem the Toyota Motor Corpo