Toyota's Powerhouse Strategy
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For decades Toyota has been one of the most admired companies in the world. They were able to turn their image in the 1960's and 70's from cheap Japanese import to the car of choice for millions of consumer's world-wide.
What strategy (or combination of strategies) did Toyota use to make the company into the powerhouse we know today? Has it changed over the years, or been constant? How does this strategy "fit" with the environment of the automobile industry? How does it fit with the internal resources and competencies of the firm?
Consider which strategy (or strategies) Toyota has used over the years. Draw on Porter's four generic strategies.
Explain how this strategy takes fits with the elements you identified in the external environment as well as the internal environment of the firm.
Reference:
Toyota history: Corporate and Automotive (2010) ToyoLand Retrieved from http://www.toyoland.com/history.html
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Solution Summary
In 1098 words with 6 references, this solution first gives a brief outline of a potential paper in the subject of Toyota's successful strategy before looking in detail at their company policies and marketing decisions, drawing on Porter's four generic strategies.
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- What strategy (or combination of strategies) did Toyota use to make the company into the powerhouse we know today? Has it changed over the years, or been constant? How does this strategy "fit" with the environment of the automobile industry? How does it fit with the internal resources and competencies of the firm?
Here's a quick outline if you're planning to write a paper:
- Step One. Consider a SWOT analysis of Toyota. In addition, do some research into the environment of the early years (1930's on ) and how it has evolved. For a quick-and-dirty analysis, ToyoLand gives a pretty good overview of Toyota's history, from which you can make some deductions about Toyota's strategies in the early years:
Toyota history: Corporate and Automotive (2010) ToyoLand Retrieved from http://www.toyoland.com/history.html
Conduct some original research to gain some insight into Toyota's recent strategic moves too.
- Step Two. Consider which strategy (or strategies) Toyota has used over the years. Draw on Porter's four generic strategies, described in the required readings for this module.
- Step Three. Explain how this strategy takes fits with the elements you identified in the external environment as well as the internal environment of the firm.
- Step Four. Write up your analysis in a three to four page paper.
Now, here are a few ideas for the content:
Case expectations:
Evaluate both the degrees of good and bad fit between Toyota's strategy and its industry environment. From its inception Toyota has striven to make the cars the people need or in other words the cars that are demanded by the customers. When there was a need for a small car Toyota made the Toyopet. When in he ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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