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Toyota (Globalization (Defined as: worldwide movement toward economic,…
Toyota
Globalization
Defined as: worldwide movement toward economic, financial, trade, and communications integration
Toyota entered in the joint manufacturing venture General Motors. This allowed Toyota to begin producing cars in the United States
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Ethics
Defined as: the socially accepted moral principles that guide decision making, based on the collective belief of what is right and what is wrong
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Culture
Defined as: the norms of an organisation, a country, or other social grouping. Culture shapes the values, beliefs, and customs of people.
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Change
Defined as: Driving forces and restraining forces creates change in a business so that they can move forward and remain competitive.
Quality issues: Toyota decided to lengthen the amount of time for model testing and reduce the number of outside engineers to overcome quality problems
Toyota recently announced executive changes to oversee financial operations to effectively appeal to global markets
Toyota has invented the "Toyota Production System" and the "Just in Time Production" which has been one of the most popular management philosophies in the world
Innovation
Defined as: changing or creating more effective processes, products and ideas, and can increase the likelihood of a business succeeding
Toyota USA Foundation: support innovative programs to improve the learning of science, technology, engineering, and mathematics
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Stakeholders
Defined as: A stakeholder is any person, organization, social group, or society at large that has a stake in the business
Competition: For a company to enjoy competitive edge, they need to be constantly on the lookout for ways to keep themselves updated with the latest technological trends and developments. They need to constantly make changes and keep on upgrading themselves. Toyota Motor Corporation has always been one of those companies that believe in continuous change. This gives them a competitive edge over other companies as they are reviewing their systems, processes, strategies and actions on a very frequent basis. The reason for this major organizational change was also to maintain that competitive edge in the market as competition keeps increasing with time.
Customer: Customer satisfaction is also become a major concern nowadays and was a main driver for the change in the organizational structure. In the new strategy, TOYOTA MOTOR COMPANY has focused more on providing quality services for customer satisfaction. This is another major factor is creating brand loyalty and goodwill amongst the customer.
It has been the usual practice of TOYOTA MOTOR COMPANY to change their strategies and development plans every so often to keep the executives, employees and even the customers on their toes
Employees: Employees are the base level workers who can give the management a very clear idea of the operations of the company. Taking the employees input will not only result in their trust and loyalty in the company but it can also give the management a new perspective or vision for the company. The management doesn't have to cater all the employees' suggestions and they should not be making any commitment in that regard as well but it is always a good organizational move to empower all levels of the employees to increase their productivity and commitment to the company.