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Business Project for Toyota Assignment

   

Added on  2020-06-03

20 Pages6985 Words49 Views
Business Project forToyota

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 : Research relevant academic models and literature..........................................................2A. Comparative analysis of Toyota........................................................................................2C. Considerations for the Toyota for creating a social impact.............................................11Task 2 : Need to consider for enhancing the business. .................................................................13CONCLUSION .............................................................................................................................14REFERENCES..............................................................................................................................16Books and Journals ..............................................................................................................16

INTRODUCTIONThe business project is in context to Toyota, a leading auto mobile industry. It wasestablished by Kiichiro Toyoda in 1933, It started with the first product Type A engine and thepassenger car AA in the year 1936. Toyota is a global company which is famous across theworld due to its premium quality products (Laszlo and Zhexembayeva,2017). The company isexpanding very fast and performing their operations, manufacturing activities with increasing thecustomers worldwide. This report will identify and determine various competitive strategies usedby the Toyota to sustain its position in the auto mobile industry.In May 2018, Toyota's share ofnew car registrations in the EU reached 4.2 percent. Toyota-branded vehicles are sold by theToyota Motor Corporation, which is ranked among the biggest auto-mobile manufacturers in theworld. The aim of the company is to be the top automotive organisation in the world. TheToyota has so many competitors in the market which are trying to overtake the company byoffering nearly same products to the customers. Toyota focuses on the quality of its productsrather than enhancing the production. In the year 2008 Toyota overtook GM and the auto-mobileindustry announced it as the biggest car maker across the world but it gave rise to the customercomplains. Increasing the production had a negative impact on the quality of the cars Toyota wasmanufacturing, competitors of the company focuses on the weakness of a company and focus onattaining competitive advantages out of it. In this project report we will use comparative analysisto learn how Toyota is competing in the market with its competitors such as BMW, Honda etc.and will identify the competitive position of the company in the automotive industry (Tan andSousa,2015). The report will also describe the various activities performed by Toyota to obtaindifferent competitive advantages within the auto-mobile industry. Toyota is operating itsorganisational activities across the world or globally, and while trading at a global level thecompany faces various challenges which are needed to be considered to effectively perform thebusiness operations. The project report will analyse the various elements and factors that areassisting the Toyota in order to create a social impact on the customers in the market. Everycompany needs to build a social relationship within a marketplace to attract and increasecustomer loyalty. The organisations develop different plans and strategies for creating a socialimpact and gain competitive advantages within a market. This project will also identify the elements which Toyota needs to consider for enhancingthe business and increasing the profitability by effective business operations. This will include1

various theories and academic discussion. Toyota follows the lean production model in theirmanufacturing process for improving the business activities as well as to save money and time.The concept of this production model focus on eliminating wastes and gaining more outputs withless input efficiently (Harzing and Giroud,2014). The project report will discuss the completestructure of the Toyota company, their business operations through different analysis. The studywill include application of various theories and approaches to analyse and determine theorganisation's functions as well as activities to gain effective advantages an increase the profit orsuccess in the global market. TASK 1: Research relevant academic models and literature.A. Comparative analysis of Toyota.Toyota is gaining success across the world in the automotive industry through theireffective business operations and strategies. There is a tough competition in the automotiveindustry due emerging brands and innovation by the new enterers. The competitors use variouscompetitive strategies in order to achieve an impressive position within the industry. Toyota hasmany competitors in the market such as Ford, Nissan, General motors etc. All the companiesdevelop their own business techniques in order to sustain in the industry and gain success withinthe marketplace (Liao,2017).Porter's five forces analysisThreats of new entrants - On the base, the central point that can influence the profitability foran organization is the passage of the new retail organizations in the market which can give anextreme rivalry to the overarching organization. Toyota has an exceptionally immense base ofsteadfast clients which encourages the organization to support its market positionThreat of Substitute: The substitution of an item or administration is one of the real danger thatcan influence the usefulness, deals and benefit of the organization. Toyota requires keeping onthe normal checking of event of any substitutional item or the administration that can impactpiece of the overall industry of organization. The key risk is that the substitutional item will beof minimal effort and would be impressive to a normal purchaser which may influence theorganization's gross deal or income age process. 2

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