DESCRIPTION OF TOYOTA
Toyota Motor Corporation is a Japanese multinational corporation. It is currently the world's largest automaker.
Mission
"Toyota Motor Corporation is a company devoted to enhancing the quality of life for people around the world by providing useful and appealing products" (Toyota Motor Corporation, 1994).
Its mission has not changed much in the past few years, for the current mission of Toyota can be characterized as becoming the world's leading vehicle manufacturer, which means that it expects to sell more cars than any competitors, whilst setting benchmarks on product quality and production efficiency. Toyota also aims at providing good quality cars at competitive and affordable prices in order to well establish
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Switching costs are low; the price of a train ticket can sometimes be more attractive than taking his car.
Bargaining power of suppliers : very low
A car producer works with many suppliers since it needs many different items to produce a car. This means that there are many suppliers on the market and therefore that their bargaining power is very low. Switching costs for car producers are really low.
Bargaining power of buyers : moderate
Buyers do not purchase a car frequently and in large volumes. There are many buyers on the market which considerably reduces their bargaining power. However, switching costs for the customer are low. In fact, a customer can easily decide to sell his car and buy a new one as well as he can decide to take the train or the subway without many costs.
Threat of new entrants : very low
The automotive industry is not attractive for new entrants. A new entrant would have to invest a lot of money in capital and R&D to start a new business and it would have to acquire a specific and technical knowledge. The market is mature; car producers already make economies of scale by producing cars in large quantities. New entrants would also have difficulties to access distribution channels. Key Success Factors (KSF)
Safety
It is a crucial element for car producers. Consumers want to buy reliable cars with many safety features and systems such as ABS or Airbag that could save their lives. Car
Toyota is a Multinational Corporation began on August 28, 1937 and now operates in over 170 countries and regions around the world with its headquarters in Toyota City, Japan (Toyota Overview, 1995-2016). Toyota is a multinational that operates its business through a number of methods since they are worldwide and has a great demand for their products. The company currently operates in Japan, North America, Europe, Asia, The Caribbean and others. Toyota Multinational Corporation is a part of the Toyota group, one of the largest conglomerates in the world. The methods of international business that Toyota uses are by exporting, importing, mergers and acquisitions, development of foreign subsidiaries and international joint ventures. To date,
Toyota Motor Corporation (TMC) is a global automaker based in Toyota, Aichi, Japan. The company is a global leading automaker in terms of sales and output, and it employs more than 320,808 people globally. Toyota’s main business is automobile manufacturing and financial services (Investopedia.com, 2011).
Toyota Motor Corporation is one of the worlds largest vehicle manufactures. It conducts business worldwide and their vehicles are sold in more than 170 countries and regions. Kiichiro Toyoda established Toyota in 1937. Toyota also has other brands including Lexus and Scion. Last year Toyota ranked number 9 on the Global 500 list. Toyota has also been on the Global 500 list for 21 years. Since 2008, when Toyota surpassed American General Motors as the world’s largest automaker, it has remained at the top of the list. In 2014, Toyota had $18.1 billion dollars in profit and a whopping $227 billion dollars in revenue. Toyota has always been a company with a great image. They spend nearly $1 million dollars every hour on research and development. Although the company was founded in Japan, it has created over 365,000 jobs in the U.S. Toyota also ranks as a top 10 company for LGBT employees and top 50 for diversity. On top of supporting diversity and the LGBT community, they have donated $700 million dollars to non-profit organizations.
“Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talent and passion of
Toyota has many strengths. It has a strong global position and cars manufactured by Toyota have been sold in many places in the world. It sold 9.7 million cars and trucks, and had 45.5% of the market share in Japan in 2012. It has a market share of 12.2% in North America, 13.4% in Asia and 4.3% in Europe. (Anon, 2015) Such strong global position is because of company’s high quality products and strong brand recognition with its well known environmental friendliness, durability, social responsibility, reliablility and value. Toyota also has been the most valuable auto company
Background: Toyota Motor Corporation is a vehicle manufacturing company founded in 1937 in Japan. They have since expanded to become a multinational corporation, and were the world’s largest automaker in 2016 (Schmitt, 2016).
Toyota Motor Corporation is a Japanese automobile manufacturing company which was founded in 1937 by Kiichiro Toyoda from his father’s spinning and weaving company. The company rises after post war era and became the world’s largest automobile manufacturer in 2012 beating General motors and Volkswagen behind and is by revenue it stands at twelfth place. Toyota group presently consist of 15 companies involved in design, manufacture, and sales of all classes of automobiles and their parts, also steel manufacturing, and textile machine production. With more than 3 lakh employees, revenue around $210 billion and presence all across the globe with 14 overseas manufacturing facilities Toyota is competing to sustain the leadership position in the sector.
Toyota Motor Corporation is a multinational company which manufactures automobiles in 27 countries all over the world and Toyota’s vehicles are sold over 170 countries, not only under the Toyota
Toyota Motor Corporation is a Japanese automotive manufacturer, founded in 1937 as an extension of Toyoda Automatic Loom Works. A competitor in the motor vehicle industry. Noted in February 2016, as the 13th-largest company in the world by revenue. The largest automobile manufacture in 2012 (by production) which was ahead of General Motors (GM) and Volkswagen (Wikipedia, 2016). According to OICA 2012, Toyota is the world’s 1st automobile manufacturer to produce over 10 million vehicles per year. Worth 397 billion yen (equivalent to 3.27 billion US dollars, employing over 344k and has global sales of 9.147 million vehicles per year (Toyota Company Profile, 2015). Throughout the years that Toyota Motor Corporation has been in operation, it has prided itself on a well-established brand that is known for manufacturing high quality vehicles that leads in reliability, functionality and resilience.
Toyota Motor Corporation is a Japanese multinational corporation. It is currently the world's largest automaker.
Toyota is the super famous brand name in the current automobile industry. Toyota refers to a Japanese company 'Toyota Motor Corporation ', was established on 28th august 1937 by Kiichiro Toyoda as an adjunct to his father 's car making company ' Toyota Industries '. Toyota is a full flexed multinational automobile company engaged in designing, assembling, manufacturing and sales of personal to commercial vehicles and its accessory parts globally. Globally it secured 338,875 employees with a capital of 397.05 billion Yen (Toyota Motor Corporation, 2014). Toyota vehicle sales had increased tremendously as a result of focusing the customer value in terms of cost and quality, over a period of 1935-2010 as shown below.
Toyota is a world leading automobile manufacturer, headquartered in Japan, but selling its vehicles throughout the entire world. The company is a notable success story within the business community due to its strategy of global expansion. As the established leaders of the American automobile industry failed to adapt their offer to the changing needs of their customers, Toyota proved able to adapt its production to the new needs, creating small size and fuel efficient engines. This situation has increased the market share of the Japanese cars in the American and global market place.
In 1937, Toyota Motor Corporation was established as an independent company. Its mission was to produce high-valued products and services so as to attract and retain customers. Its vision was to be highly respected and become the most successful motor company globally. Today, Toyota offers a variety of services which include the assembly and production of new cars.
Toyota Motor Corporation is a Japanese automotive manufacturer. Toyota has over 333 thousand of employees across the world and it is the 14th largest company in the world by revenue in 2014. It is the strategic management of logistic and supply that contributes partly of its success today.