Toyota Motor Corporation is a Japanese multinational operation with a worldwide presence. In recent years, it has become second in the world car market replacing Ford. This genesis of the Toyota group could be traced to its original concentration on the manufacturing of weaving machinery under Toyoda Automatic Loom Works, which was established in 1937. Sakichi Toyoda, who was also popularly known as Japan’ s “ Kings of Inventors” , then headed the company. In a move towards becoming an automobile producer, Sakichi Toyoda sold the patent rights to Platt Brothers and used the fund for developing automobiles.
However, it was in 1997, that Toyota Motor Corporation was founded, Kiichiro Toyoda, the son of the group founder, to mark the 60th anniversary of the establishment of the group. Since then, Kiichiro Toyoda continues the steer the growth of Toyota. Application of Mintzberg's 5P's Plan: Toyota has introduced many innovations in its production and there is a lot that goes to its credit as a pioneer of the improved production process. It will be argued that its human resources made a vital contribution to this process.
It was in 1950, there was one labor strike. Perhaps the only strike that Toyota had to face in its history. From the work stoppage, Toyota had learned that it has to commit to labor if it wanted to prove its mettle in the global market. Having realized that fact, its management continues to commit to the principle of mutual trust and dependence of each other, and the principle has been made the corporate philosophy. There is overwhelming support from its labors to this corporate philosophy. Ploy: Despite this, Toyota has in recent time faced a problem with respect to its product quality.
In January 2010, the company decided to recall its Lexus cars which had variable gear ratio steering. Since it caused wheel-off problems and risking the safety of passengers, it was forced to call back. As a strategy, it can be considered as a ploy to outwit its rivals. In fact, the recall would cost the company billion dollars.
Please type your essay title, choose your document type, enter your email and we send you essay samples