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Toyota's Mission and the Needs of their Stakeholders

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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.

Include:

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.

Required Site:

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

Required Articles:

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.
http://wf2dnvr1.webfeat.org/g84EO13666/url=http://web.ebscohost.com/ehost/detail?vid=1&hid=6&sid=c74bd1ca-7ef2-41e5-831a-ba27913d8ed8%40sessionmgr11&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=nfh&AN=2W6638002481

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.

http://wf2dnvr1.webfeat.org/g84EO13545/url=http://web.ebscohost.com/ehost/detail?vid=1&hid=17&sid=2b623ff8-bdaf-45ff-a74a-a27ffa3bc223%40sessionmgr12&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN=48623308

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.

http://wf2dnvr1.webfeat.org/g84EO13469/url=http://web.ebscohost.com/ehost/detail?vid=1&hid=17&sid=581f5999-01a3-47db-92b4-d046cc25c05c%40sessionmgr11&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bwh&AN=49169229

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Introduction
After General Motors (GM), Toyota Motor Corporation is the second largest automotive maker around the globe; although, Toyota ranks in first place in profit, revenue and net worth. Toyota was established by Kiichiro Toyoda in 1937, as a by-product of Sakichi Toyoda's Toyota Industries Company, to produce Toyota automobiles. Headquartered in Bunkyo Tokyo, Japan (as well as Toyota, Aichi); Toyota offers pecuniary services with their Toyota Financial Services division. Toyota Industries, along with Toyota Motor Corporation, make up the Toyota Group. The Toyota Group consists of Daihatsu Motors, Scion, Lexus, Fuji Industries, Yamaha Motors, Isuzu Motors and of course, Toyota Motors. Toyota Motor Corporation operates globally with the automobile industry, which includes 522 worldwide subsidiaries (Toyota, 2010) (Sagepub, n.d.).
Is Toyota's mission aligned with the needs of their stakeholders?
Toyota's mission is aligned with the needs of their stakeholders - to a degree. Toyota mission is in line with long-standing philosophies; they have designed their mission to supersede short-range decisions. Toyota's philosophical principle is to "work, grow, and align" the enterprise in the direction of a universal rationale, which to the Toyota Motor Corporation states is "bigger than making money" (Toyota, 2010). According to Jim Press, the C.O.O. of Toyota Sales North America and Executive VP, Toyota's chief purpose is not to see a corporate gain, or for the ...

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