Business strategy - Toyota

Added on - 21 Feb 2021

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Business strategy
Table of ContentsINTRODUCTION...........................................................................................................................1LO1.................................................................................................................................................1P1 Impact and influence of macro environment on Toyota........................................................1M1 Analysis of macro environment factors................................................................................3P2 Internal factors of environment.............................................................................................3M2 Evaluation of strength and weakness of Toyota..................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONBusiness strategy refer to setting up a long term plan for the future. It is used fordetermining goals and objectives of the company (Akter sand et. al., 2016). Strategic planninghelps in enhancing productivity and growth in business.Study will be based upon Toyota company. It is a Japanese auto mobile manufacturerwho's headquarter is located at Toyota City , Japan and founded by Kiichiro Toyoda. It is leadingbrand in selling hybrid vehicles.Report emphasizes on impact and influence of macro environment on business strategyand internal factors that affect functioning of business.LO1P1 Impact and influence of macro environment on ToyotaMacro environment factors refers to external approach that will affect business operationsof Toyota. These factors are not controlled and hence influence decision making in the company.This include different factors such as political, social, environmental, economical, technologicaland legal factors.Political factorsThese factors include political stability, corruption, tax policy labour laws etc. As Toyotais manufacturing cars so the most important factor that affect functioning of company is tradeagreement at global level. If country's political stability is not good then it will have an impact onoperations of Toyota and people are not able to purchase its car. Changes in tax policy also affectproper functioning as Toyota is selling its product in different countries that become barrier inthe future. People are not able to afford its car because of imposing of more tax on products thiswill lead to decrease its sale and growth in the economy (Whittle sand Myrick, 2016). There aredifferent factors such as penetration that will have greater impact on prices of Toyota cars. Insome countries there are restrictions regarding selling heavy products so that impact business forthe company as it is not able to expand its business in such countries.Economic factorsToyota is operating in US also so price of dollar is high as compared to currency ofJapan i.e. Yen. Due to changes in exchange rates business of Toyota fall down as people are notpurchasing its product due to heavy changes in currency. It also impacts export and import fromother countries due to changes in rates so market gets down and company have to bear loss. At1
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