Toyota is a company that has been in the news a great deal lately. Their mission is to "Make Better Cars and Contribute to Society." But does this mission adequately guide the company's actions? Sometimes a company WANTS to be one thing but the actions take them somewhere else. And when this happens, who gets hurt?
Read the information in the background material, look for more information, and then write a 3 to 4 pages report for your professor and the executives of Toyota Corporation by answering the following questions:
i) How would you conceptualize the word "Toyota wants to be?"
ii) Is Toyota's mission aligned with the needs of their stakeholders? Please explain your reasoning.
iii) Based on your analysis and findings, what would you recommend to the executives of Toyota corporations? Why? Please explain your reasoning.
Toyota-global.com (2009). The Right Way Forward. Retrieved August, 2011 from http://www.toyota-global.com/investors/ir_library/annual/pdf/2009/pdf/p10_16.pdf
Read the section of their annual report titled "The Right Way" (http://www.toyota-global.com/investors/ir_library/).
Step 2: Read the required articles about Toyota and conduct additional research as needed.
Step 3: Identify the main stakeholders; pick one or two, e.g., the customers, the employees, the stockholders and determine what their needs and goals are in regard to Toyota.
Step 4: In a three to four page paper, critically analyze whether Toyota's mission and vision take the needs, goals, and objectives of its stakeholders into account.© BrainMass Inc. brainmass.com October 25, 2018, 6:06 am ad1c9bdddf
Brainmass provides only guidance to assist you in completing your assignment. Please find attached the guidance notes for you to solve this assignment. It is also accompanied with the attachment on global vision statement revealed by Toyota in 2011 and another file refers to Big Hairy Audacious Goals and how the company can include them in the vision and mission statements.
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Guidance Notes for the Assignment
When the company states that Toyota wants to be 'the best leader in the future of mobility' (Toyota Global Vision Statement, 2011: 9 March 2011). This will be the Vision of the company which is supported by Hunger & Wheelen (2010: 20) who state that Vision is what and where a company wishes to be in future. Further, Pearce, Robinson & Mittal (2008: 395) describe a leader's vision as the characterization of how a leader visualizes the business to become to establish the business and sustain its global leadership. Thompson et al. (2010: 22, 23) describe a Strategic Vision of an organization as the route which it intends to take to develop and strengthen its business which also provids a panaromic vew of where the organization is heading. Henry (2008: 11) associates the vision with the founder of the organization and describes it as the desired state of aspiration where the company wishes to be in the future. Hill & Jones (2008: 27) describes vision as the desire future state the company wishes to achieve.
Toyota has revealed its Global Vision as:
"Toyota will lead the way to the future of mobility, enriching lives around ...
Toyota's mission aligned with the needs of their stakeholders are examined.
Toyota's Mission and the Needs of their Stakeholders
Toyota is a company that has been in the news a great deal lately. Their mission is to Make Better Cars and Contribute to Society.
But does this mission adequately guide the company's actions?
Sometimes a company WANTS to be one thing but the actions take them somewhere else. And when this happens, who gets hurt?
Is Toyota's mission aligned with the needs of their stakeholders?
Using Toyota's website and contrasting what they say there with what is reported in the business press. Visit the Toyota Website and go to the Investor relations section. Read the section of their annual report titled "The Right Way Forward". In a word, or a phrase, conceptualize the company Toyota wants to be.
Identify the main stakeholders; pick one or two, e.g., the customers, the employees, the stockholders and determine what their needs and goals are in regard to Toyota.
Analyze whether Toyota's mission and vision take the needs, goals, and objectives of its stakeholders into account.
1. Your interpretation of Toyota's mission and vision
2. Your assessment of the stakeholders and their needs/goals.
3. Your critical assessment as to whether Toyota's mission and vision takes their stakeholders into account.
A conclusion concisely stating the main points of your analysis and the conclusions you reached.
Annual Report. (2009) "The Right Way Forward", Toyota Motor Corporation. Retrieved from http://www.toyota.co.jp/en/ir/library/annual/pdf/2009/p10_16.pdf
Patton, J. and B. Estep (2010, February 11). Toyota debacle could be largest consumer fraud case ever, expert says. Lexington Herald-Leader (KY), Retrieved from Newspaper Source database.
Ceniceros R. (2010) As Toyota saga continues, shareholders ready case. Business Insurance. March 2010;44(9):1-24. Available from: Business Source Complete, Ipswich, MA. Accessed May 17, 2010.
Vance, C. (2010, February 8). Toyota's Pain Will Be Rivals' Gain With Little Net Economic Impact. Investors Business Daily, p. A01. Retrieved from Regional Business News database.
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