Mission and Vision of Toyota

1221 WordsJan 14, 20185 Pages
Mission and Vision Of Toyota Module 1-Case Study [Pick the date] Student Name Introduction: This paper analyzes Toyota Motor Corporation; assessment and interpretation of its ambitions, practices related to stakeholders and recommendations for betterment. Since overtaking the American Giants G.M. (General Motors) in 2008, Toyota has been considered the undisputable leaders in car manufacturing hugely due to their innovation, quality and industrial might. But history teaches us that one blunder if not handled properly can ruin the reputation of an entity over night and also create future uncertainty. Toyota's mission and vision The vision of the company or "where Toyota wants to be" was revisited and adopted from April 2011 soon after a series of quality problems, product recalls and global media hype surrounding these recalls resulting in loss of customer trust and revenue. Before we understand the meaning of their new vision and mission we must understand the factors that triggered this change. It all started in year 2000, when Toyota established a goal of achieving 15% of global market share; this involved manufacturing more units than ever before and along the way Toyota decreased their focus on quality and safety shifting emphasis on quantity. Yet till 2010 Toyota was an incredibly healthy firm with regards to its finances while other major players like GM, Chrysler and Ford were hit hard by the economic downturn of 2008. It was in 2009 when Toyota

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