Toyota Motor Corporation ( Tmc ) Essay

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Introduction Toyota Motor Corporation (TMC) is a Japanese multinational company that manufactures cars, buses, trucks and robots, with its global office located in Japan. It is the largest car manufacturer in Asia and the second largest producer [1]. It was established in 1937 by Sakichi Toyoda, and in 1938 developed their first vehicle production line [2]. Honda Motors, also a Japanese Company, is the world’s largest motorbike manufacturer and the world’s largest Internal Combustion Engine producer [3]. Honda is the second largest Japanese automobile manufacturer behind Toyota. It was founded in 1948 by two men named Takeo Fujisawa and Soichiro Honda [4]. Today Toyota stands as the world’s leading automotive company while Honda is ranked as 5th [5]. Toyota has a “greater market capitalisation than that of General Motors, Ford and Honda combined” [6]. Considering that Toyota sell the same number of units as GM sell each year [6], what exactly makes them so much more profitable? Source: http://www.forbes.com/sites/greatspeculations/2016/05/31/why-toyota-is-more-valuable-than-gm-ford-honda-combined-part-1/#354849a330dc The following report outlines four key topics which will compare Toyota and its Japanese rival Honda, in greater detail to determine what elements are vital for a successful multinational company. Globalisation Strategies “Kaizen”, a word meaning continuous improvement is the driving force behind the globalisation strategy of the Toyota Motor

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