Toyota motor was founded by kichiro toyota in the year of 1937 as a spinoff from his father's company toyota industries to manufacture automobiles.
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Toyota is the world's leading maker of hybrid vehicles, and there ar more than 1,700,000 toyota hybrids connected the road rightist now.
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Toyota bought few other companies besides and own and operates lexus, scion, daihatsu and hino.
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How does Toyota compare to its peer companies?
Poor allocation of resources as compared to peers: Toyota has low return on equity (ROE) and return on assets (ROA) compared to its peer companies. The company's competitors such as Honda Motor and Nissan Motor have more ROE when compared to Toyota.
What are the strategic goals of Toyota Corporation?
Toyota’s strategic drive has been to offer safe and efficient products with an emphasis on environmental compatibility. Strong emphasis on R&D ensures that Toyota is able to become a technological leader in the automobile industry.
Why does Toyota need to implement transformational changes?
Toyota’s management needs to implement transformational changes into the situations. They have introduced the Toyota Production System (TPS) which can be used for identifying the quality of the product and mainly to eliminate the waste. Re-engineering of the finished products has created robust and durable products.
Who are the competitors in the Toyota industry?
Competitive rivalry in the industry is very strong as Toyota has to face competitors from the United States like General Motors and Ford. It has to compete with Japanese manufacturers like Honda in different markets. The state of the automobile industry is very huge which means that customers are loyal to their brands (Chris, 2005: p. 92).
Last Update: Oct 2021
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