Sample Paper on Business Strategy

BUSINESS STRATEGY
Lecturer: Dr. Pham Hoang Hien
Written by: Pham Quynh Tram
ID Number: B180031
1st Assignment of Business Strategy
Let’s go places

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Table of Contents
Introduction ............................................................................................................................... 2
Learning Outcome 1: Analyze the impact and influence which the macro environment has
on an organization and its business strategies........................................................................ 3
I. Toyota’s brief profile ................................................................................................. 3
II. Applying appropriate frameworks analyze the impact and influence of macro
environment on Toyota and its strategies ................................................................ 4
1. The approach of Toyota to achieve business objectives, goals, strategic intent
and different strategic direction.......................................................................... 4
2. Evaluate planning technique of Toyota Motor Corporation – BCG Matrix .......... 5
3. Analyze the analytical frameworks of the macro environment of Toyota………..6
3.1 Stakeholder Analysis ..................................................................................... 6
3.2 Toyota PESTLE analysis ................................................................................. 8
3.3 Toyota’s Five Forces Analysis........................................................................ 9
3.4 Ansoff’s Growth Vector Matrix ................................................................... 12
3.5 Benchmarking Toyota ................................................................................. 14
Learning Outcome 2: Assess an organization’s internal environment and capabilities ........ 15
I. Analyze the internal environment of Toyota company ............................................. 15
 Value chain analysis .............................................................................. 15
II. Analyze capabilities of Toyota using appropriate framework ................................... 18
1. VRIO framework of Toyota ............................................................................... 18
2. Analyze capabilities of Toyota based on SWOT ................................................ 19
Conclusion ............................................................................................................................... 20

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Introduction
The object of this assignment is to illustrate knowledge and understanding related to business.
The investigation and explanation of macro environment – How it impacts and influences on
Toyota company. Besides, this report will mention organizations’ strategies how this company
formulates and implements its strategies.
This paper also candidates the evaluation of an organizations’ internal environment, strategic
and benchmarking strategic capabilities that Toyota using suitable frameworks.
The background knowledge in this paper will assist in analyzing environmental and strategic
growth management which could be used in an operational, tactical in order to enhance one’s
professional career in the future.

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Learning Outcome 1: Analyze the impact and influence which the macro environment has on
an organization and its business strategies
I. Toyota’s brief profile
- Toyota Motor Corporation is a Japanese multinational automotive manufacturer
headquartered in Toyota, Aichi, Japan founded in 1937 by Kiichiro Toyoda.
- Mission Statement: “To attract and attain customers with high- valued products
and services and the most satisfying ownership experience in America.” (Toyota,
n.d.)
- Vision Statement: “To be the most successful and respected car company in
America” (Toyota, n.d.)
- Objectives:
 To enhance customer satisfaction by providing high quality service
and value for money.
 To maintain market share of Toyota in Yemeni market.
 To service the Nation and the upliftment of society.
 Ethical approach towards customers and foster the need of the
customers. (Toyota, n.d.)
Figure 1: Toyota's headquarter

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II. Applying appropriate frameworks analyze the impact and influence of macro
environment on Toyota and its strategies.
1. The approach of an organization to achieve business objectives, goals, strategic
intent and different strategic direction.
1.1 Strategy
Strategy is a set of goal- directed actions a firm takes to gain and sustain superior
performance relative to competitors. Toyota’s generic strategy determines the company’s overall approach in the
global automotive industry. Generic strategy is a combination of the cost
leadership and the broad differentiation. Cost leadership entails minimizing
cost of operations and selling prices. The company does so through the just-
in-time (JIT) manufacturing method, which is also known as the Toyota
Production System (TPS). This method addresses Toyota’s generic strategy by
minimizing waste, inventory cost, and response time. On the other hand, Toyota has the strategic goal of innovation to address the
broad differentiation generic strategy requires developing business and
product uniqueness to ensure for all market segments. (THOMPSON, n.d.)
1.2 Strategic intent
- Market penetration: This intensive strategy supports business growth by reaching
and attracting more customers in the firm’s current markets, so Toyota offers
products for every market segment. This intensive growth strategy supports the
cost leadership component of Toyota’s generic strategy by enabling the company
to maximize sales volume, which ensures profits despite relatively low selling
prices. (THOMPSON, n.d.)
- Product development: Toyota uses this intensive growth strategy in the form of
rapid innovation by attracting customers to new products. (James M. Morgan and
Jeffrey K. Liker, n.d.)
Toyota establishes customer-defined value to separate value-added
activity from waste.
Create a leveled product development process flow
Develop a chief engineer system to integrate development from start to
finish.
Fully integrate suppliers into the product development system.
1.3 Different strategic direction
Driving towards increasing the sales of this market seven to ten percent,
Toyota campaign is formulated on a positioning strategy that considers
competitors, offers opportunities that build brand awareness in company
target market through optimized tactics and remains measurable. To increase
company reach, they focus on brand building opportunities in frequency- or
the number of times they can put the message and the Corolla in the way of

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the consumer on a regular basis through integrated media channels. (
(Rahman, n.d.)
1.4 The approach of Toyota to achieve business objectives and goals
The communication process is very important to understand objectives and
goals and implement different strategies to achieve the specific objectives.
Toyota Motor Corporation also improve manufacturing techniques and
processes and enhances their competitive advantages so that they able to
achieve their objectives through effective implementation and evaluation.
(Anon., n.d.)
2 Evaluate planning technique of Toyota Motor Corporation – BCG Matrix
Figure 2: BCG Matrix of Toyota (ONLINE) As can be seen from the picture, Prius – Product of Toyota classified as star
having a relatively large market share in high growth sector. This product has
the advantage of being competitive and has many opportunities to develop
profits and grow in the long run. Prius are evaluated for profitability and self-
sufficient. But while forming, a larger amount of investment is needed to
maintain the leading position. For Supra classified as question mark having competitive position and relative
low market share. But this product is high growth sector and very promising in
profit and long-term growth. Supra can be growth as Prius if paid attention to

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because it requires a large amount of capital and needs to assess the true
potential to have a timely investment plan. For Camry, HiLux and Yaris classified as cow - These are low growth sectors
with high market share and strong competitive position. This strength comes
from cost savings thanks to the scale of the experience curve. These products
of Toyota are highly profitable but they do not have the opportunity to grow
and the speed of industry growth is very low. Therefore, the demand for
investment capital is not too large and is considered a wide source of profits. Finally, Rukus and Aurion classified as dog having the low level of competition
and low market share, this is one of the slow growing products. These products
have very low prospects because they require large amounts of investment
but only to maintain a very low market share, very few opportunities to bring
high profits.
BCG Matrix - this planning technique helps Toyota Motor Corporation
orient their market growth strategy, identifying the locations of these
products in the market to put make investment decisions of remove.
The analysis of SBU in this matrix allows leaders to assess the
competitive position and potential of each product.
3 Analyze the analytical frameworks of the macro environment to Toyota.
Macro environment is the major external and uncontrollable factors that influence an
organization’s decision making, and affect its performance and strategies. These factors
include economic factors, demographics, legal, political and social conditions, technological
changes and natural forces. (Anon., n.d.)
3.1 Stakeholder Analysis
Stakeholder Name
Power
Their ability to stop or
change the project
Interest
The size and location of the
overlap between their
interests and the project
goals
Shareholders High High
Employees Low High
Customers Low Low
Suppliers Moderate Low
Government High Low
Table 1: Stakeholder Matrix of Toyota

7 Shareholders: The shareholders are powerful people, they invest capital in the
Toyota’s company and they will receive high profits when the company’s
project is successful, so they also interested deeply about the project to
consider and they can change the project if it is risky. There are three
shareholders in Toyota owned above 5% of shares :
- Japan Trustee Service Bank, Ltd. : 12.89%
- Toyota Industries Corporation: 7.85%
- The Master Trust Bank of Japan, Ltd. : 5.83% Employees: Employees are the one of the main stakeholders who are very
interested in the project and create products for company, but their power is
very low because they are the project implementers under guidance of
superiors, so their job is to focus on implementing projects to achieve the goals
set by the company. Customers: Customers are only interested in the quality of products and
services that Toyota’s company provides them and generate profits for
company. Because they are external stakeholders, they are not related to the
company’s projects as well as their influence very low. Suppliers: Suppliers provide raw materials for the Toyota’s company. Like
customers, they are external stakeholders so they aren’t interested in
projects, but in order to have a reliable and reasonable priced supply to create
products, the suppliers also has moderate power because the company strives
to maintain a trustworthy and mutually beneficial relationship if the suppliers
meet the needs of Toyota. Government: Governments also are external stakeholder and they don’t focus
on projects in the company. In contrast, they have high power because
business authorization will be set up by them. When Toyota wants to expand
its business in any country, it must follow government policies and be allowed
to operate by the government.

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3.2 Toyota PESTLE analysis
PESTLE is an acronym for Political, Economic, Social, Technological, Legal and
Environmental, all factors to take in consideration when making external
analyses.
Figure 3: PESTLE analysis (ONLINE)
- Political: In the export of the cars and vehicles produced by Toyota, the foremost
necessary issue that arranged a direct impact on the company is the realm like
free trade agreements between the states. Likewise, the state where there is
political stability will be more prone to the purchase of the latest cars. Moreover,
the support from the government for eco free environment is something of great
importance while chalking out the policies and assessing the success of the
company. (Haseeb, 2017)
- Economic: Toyota has its business with the US as the dollar is always stronger than the
Yen. The rapid growth of world’s largest economies has always been an opportunity for
Toyota. The better the business growth of a state will be, the more avenues of
opportunities for the company will be there. Therefore, the growth of the world economy
is always a thing of great concern for the Toyota Company. (Haseeb, 2017)
- Social: The decision of Toyota to setup operations in UK was a very good decision
and it has paid off quite well. Being able to use the talented workforce, a well-

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developed infrastructure and entry into one of the biggest markets are some of
the distinct benefits derived from this decision. (Unknown, n.d.)
- Technological: Being a Medium Developed Economy in 1992 UK provided Toyota
a perfect location to invest in manufacturing operations. The technology was easy
available and the educated workforce readily available to work on new
technologies gave it added advantage. (Unknown, n.d.)
- Legal: In 2010, Toyota had issue with pedal accelerators as a result of which drivers
experienced uncontrolled acceleration, they said that accelerator pedal got stuck
and this resulted in acceleration which was dangerous. This defect occurred in
multiple models of Toyota that were manufactured in that year. Toyota had to
settle for 1.1 billion in lawsuits in 2012. This defect actually took lives of many
people and therefore Americans were furious with the company. (adamkasi, 2016)
- Environmental: Toyota has always been committed to save environment and that
is the reason it is making green products. Global warming is causing extreme
weather severities. When others are trying to control their Carbon dioxide
emission to below 2 degree centigrade, Toyota has launched challenge of Zero
Carbon Dioxide emission by 2050. In this challenge, it will reduce its carbon
footprints by 90% and will achieve this through extra mileage engines that are
improved in performance as compared to their predecessors. (adamkasi, 2016)
3.3 Toyota’s Five Forces Analysis
This five forces analysis show s that Toyota must focus on ensuring competitive
advantage withstand the strong force competition and Toyota needs to
maximize its ability to satisfy the preferences and expectations of customers.

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Figure 4: Porter's Five Forces Model (ONLINE)
Competitive rivalry (Strong force) :
- High aggressiveness of firms (strong force)
- High variety and differentiation of firms (strong force)
- Low number of large firms (moderate force) Toyota is aggressive against each other in terms of such factors as innovation
and marketing. Toyota also competes with a high variety of firms, which
differentiate through cost, electronics, fuel efficiency, style, brand image and
other variables. However, even though there are many small auto firms,
Toyota competes with only a small number of large firms. (FERGUSON, 2017)
Bargaining power of Toyota’s customers (Strong force) :
- Low switching costs (strong force)
- High quality of information (strong force)
- Moderate substitute availability (moderate force) Toyota’s customers directly affect the business through revenue. The low
switching costs mean that the customers are easily change from Toyota to
competing firms at no extra cost. This change typically happens when
customers buy a new car. Moreover, Toyota’s customers can easily choose
their best option because they have access to accurate information.
Substitutes are available, although cars from firms like Toyota are still better
in terms of convenience. Toyota needs to ensure that its product match the
preferences and expectations of its targets customers. (FERGUSON, 2017)

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Bargaining power of Toyota’s suppliers (Weak force) :
- Moderate population of suppliers
- High overall supplier (weak force)
- Low forward integration of suppliers (weak force) Toyota’s suppliers aim to influence the firm to improve their businesses. The
limited population of suppliers around the world creates a moderate force
that influences Toyota. Theoretically, this bargaining power is higher when the
suppliers are fewer. However, the high availability of supply used for
manufacturing Toyota’s products weakens suppliers’ power, In addition, most
of suppliers in the global automotive industry do not have forward integration
or ownership and control of the distribution of materials that reach firms like
Toyota. (FERGUSON, 2017)
Threat of substitutes (Moderate force) :
- Low switching costs (strong force)
- Moderate availability of substitutes (moderate force)
- Low convenience in using substitutes (weak force) These substitutes to Toyota products include public transportation, bicycle
and other modes of transportation. However, these substitutes are only
moderately available. In some areas, substitutes to Toyota’s products are
absent and these are usually less convenient than using products of firms like
Toyota. Toyota must address by making its products more accessible,
affordable and convenient. (FERGUSON, 2017)
Threat of new entrants (Weak force) :
- High capital costs (weak force)
- High cost of brand development (weak force)
- High supply chain costs (weak force) The high costs of establishing, maintaining and growing a new firm in the
industry are significant entry barriers. These barriers weaken the effects of
new entrants on companies like Toyota. This force is less significant than
competition and the bargaining power of customers on Toyota’s business, so
the threat of new entrants is among the least of Toyota’s concerns in growing
its business and maintaining its positions as one of the top automobile
manufacturers in the world. (FERGUSON, 2017)

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3.4 Ansoff’s growth vector matrix
This strategy helps Toyota identifying growth opportunities, also analyzing
company based on market, product with possible growth opportunities which can
be established by merging current and new products.
Figure 5: Ansoff Matrix (ONLINE)
Market penetration:
 Together Green Program that supports environmental initiatives
 Meal Per Hour program that donates food to Food Bank
 Toyota launches Etios motor racing in India – 2012 to attract youth segment
 Sponsorship agreement with speedway for Indy racing league weekend.
(Arenpurwala, n.d.)
Market development:
 Fortuna in India in 2009, followed by diesel Corolla and the Etios in 2010
 In 1980, they strategized to build manufacturing plant and research to increase
global sales
 The company has sedans , trucks, SUVs, luxury vehicles, and other product lines
for every type of customer

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 Overseas business from making in Japan and exporting to producing in regions
where demand exists
 In Brazil, production of Corolla FFV began in 2007. (Arenpurwala, n.d.)
Product development:
 Innovation processes – Toyota Prius and Ravev technology including electric and
lithium battery models
 Focusing on small incremental innovations rather than making big chances
 From hybrids and electric vehicles to fuel cell technology, a key for tomorrow’s
eco driving
 Automated Driving to ensure safe and smooth rife. (Arenpurwala, n.d.)
Diversification:
 In 1997, Toyota established its Marine Business Division and also set up a boat
and sales network
 In 1998, Toyota established the Biotechnology and Afforestation Business
Department
 Toyota takes part in International Digital Communications Planning Inc. and
invest in Tokyo Telecommunication Network Co., Inc. and International Telecom
japan Inc. – 1986
 Toyota acquires Japan Flying Service Co., Ltd. – 1988
 Toyota launch ski boat line. (Arenpurwala, n.d.)
3.5 SWOT analysis of Toyota
Strengths Weaknesses
 Superior productivity and
efficiency of Toyota Product
System
 Superior quality products
 Global strong brand
awareness
 Wide product offering
 Pioneer in hybrid vehicles
 Recalls caused quite severe
financial impact
 Recalls undermined brand
image as quality cars producer
 Weak presence in Europe and
emerging markets
Opportunities Threats
 Growing demand from major
emerging markets, India and
China
 Demand for fuel efficient,
compact vehicles
 Positive growth trend in
hybrid vehicles segment
 Intensifying competition from
major competitors
 Uncertainly in global
economic condition
 Weakening demand,
increasing costs
 Natural disasters could
disrupt JIT method
Table 2: SWOT of Toyota (Jones, 2017)

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3.5 Benchmarking Toyota
Core competency:
- Great quality at best price
- Value for money
- Innovative production practices
- Cost leadership strategy (RajKansagra17, 2018)
Distinctive competency:
- Toyota Production System
- Includes Just-in-time, Kaizen
- One of a Kind in the industry
- Brand name and Market leader position (RajKansagra17, 2018)
Benchmarking w.r.t percentage of material usage
Materials Prius 1 Prius 2 Insight Avg. car
Aluminum 11 12 10 10
Plastics 10 11 12 12
Ferrous 62 60 64 62
Other 17 17 14 16
Table 3: The percentage of Material Usage (RajKansagra17, 2018)
Benchmarking w.r.t Market Capitalization
Figure 6: The world's top car makers, by market value (RajKansagra17, 2018)

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Learning outcome 2: Assess an organization’s internal environment and capabilities
I. Analyze the internal environment of Toyota company
 Value chain analysis
Figure 7: Value chain of Toyota (Dudovskiy, n.d.)
Primary Activities Comment
Inbound Logistics
In Toyota company, inbound logistics use JIT
(Just In Time) system of production as it
decreases inventory cost. JIT helps Toyota to
optimize their assembling and production
process as well as to minimize parts going to
waste or getting unused as inventory.
Toyota orders the raw materials from all over
the world and in the interest of maximizing
their availability of raw materials, they
maintain good relationships with their
suppliers. Toyota uses Just in time system to
manage the supply of raw materials as well as
optimizing the supply and production
processes.

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Operations
These activities comprise mainly of the
manufacturing and assembling process of the
motor vehicles. Toyota Motors have
established and maintained the image of
producing reliable and long lasting vehicles
largely due to their well-designed and
moderated operation process. One of the
main factors of Toyota’s successful sales
record is credited to their comprehensive
implementation of an exquisitely planned
operation system.
Toyota Production System (TPS) is an
operation structure followed, which consists
of the integration of the lean production
concept and Just in time (JIT) management,
controls the production process in accordance
with the customer requirements, and Total
Productive Maintenance (TPM) which
emphasizes on overall check-up of all
equipment and tools used in the production
process.
Outbound Logistics
Toyota controls the whole process of vehicles
distribution, from the factory to their
branches worldwide, to ensure that the final
products are delivered in the right place, at
the right time.
Outbound logistics of finished vehicles are the
responsibility of Toyota Motor Sales. Parts
Distribution manages the supply of service
parts from the plant to the service center. It
supports service parts production and
shipping preparation which includes
containerization and overseas shipping.
Marketing and Sales
Toyota’s marketing department assigns new
products to the precise group of targeted
customers. Marketing and sales activities of
Toyota also include emphasis of on their
planned promotion mix and marketing
communication approaches, like advertising

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and sales promotion, as well as building
groundwork for offers that would be suitable
for meeting the customer expectations and
the company as well.
Service
Toyota recognizes that its customers are the
“driver” of the company’s success, thus it
provides and improve several types of their
offered services such as final checking,
complaints handling, etc. As Toyota product’s
main factor is reliability, therefore services are
delivered by qualified personnel ensuring all
services provided are of high quality.
Table 4: Analyze the Primary Activities of Toyota ( (Unknown, n.d.)
Support Activities Comment
Procurement
Toyota Motors uses e-buying and outsourcing
methods to manage procurement activities.
Furthermore, in collaboration with its
suppliers, Toyota supports the reduction of
environmental pollution that occurs during
the delivery of supplies.
Technology Development
Every department of Toyota is build up on
technologies, the main focus on technology
development is to guarantee the customers of
the safety of the vehicles. Toyota Motors
combine forces with Collaborative Safety
Research Centre located in USA to reform
safety checks of the vehicles and improvised
test-drives as well as improving their overall
product performance.
The first technology is PCS (Pre-Crash Safety)
system that helps to predict possible crash
and thereby minimizes the risk of damage and
injuries. Pop-up Bonnet technology is a
definite design of the car frame structures
that was created by Toyota Motors to avoid
the damage caused to other vehicles and the
pedestrians. Adaptive Driving Beam system
was assimilated in some models of Toyota
cars and helps to regulate high beam in
automatic way.

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Human Resources
Toyota Indus Motors Co. uses different tactics to
sustain its employees. Toyota has a highly
integrated Lean Production System in order to
use the workforce in more productive and
efficient way. The main concept of managing
human resources is to expand capacity and
capability of the employees by providing them
extra work, training to develop working skills and
various rewards. -> Increase in productivity and
quality of product and results in creating of the
competitive advantage.
Firm Infrastructure
MIS (Management Information System) plays
a vital role in designing the strategic plan,
organizing and controlling the various
departments of Toyota. Moreover, Toyota
uses robotics system where people act as
operators that make the production process
fast and efficient.
Table 5: Analyze the Support Activities of Toyota (Unknown, n.d.)
II. Analyze capabilities of Toyota using appropriate frameworks
1. VRIO framework of Toyota (DMILLSTOYOTA, n.d.)
- With regards to value, Toyota has a great deal of experience designing,
manufacturing, and selling cars, trucks, and vans. They have used their resources
and abilities to enter many different car segments through their brands Toyota
and Lexus and appeal to both the budget shoppers and luxury shoppers, so the
value of Toyota is a strength of the company.
- With regards to rarity, there seem to be a large number of car brands on the road
today. However, most of these brands are owned by few companies such as: Audi
is the luxury brand of VW, Lincoln is owned by Ford. This all contributes to the idea
that are not a significant number of automobile manufacturers, making Toyota a
leader among few companies. This can be taken a step further by the success that
Toyota has had over the decades with their Just-in-time inventory and
manufacturing process. The company is always looking for ways of increasing
efficiency and lowering costs. Competitors in the industry have strived to recreate
the success of Toyota, but Toyota has mastered the art making their processes
rare and creating a strength for the company.
- With regards to Imitability, if a company were to discard all of their current
equipment, acquire similar equipment to Toyota, rearrange the assembly line to

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match Toyota, etc. there would still be a tremendous expense with design. The
design with how the Toyota’s are built are much simpler and easier to take apart.
The simplicity allows more efficient, cheaper manufacturing as well as cheaper
repairs. Toyota clearly has an advantage in this regard, leading to a strength of the
company.
- With regards to Organization, Toyota has been manufacturing vehicles for
decades while continuously making improvements on the process. The company
has gained tremendous market share, has tremendous revenues, and is an
industry leader.
2. Analyze capabilities of Toyota based on SWOT
Based on SWOT’s Toyota analysis that this report mentioned in learning outcome 1,
Toyota SWOT’s analysis identifies key issues, such as the effects of competition and
the company weaknesses based on its organizational structure and culture. To
address the threats based on competition, Toyota needs to maximize its competitive
advantage based on its innovative capabilities. The company can also further adjust
its culture and structure to optimize its flexibility in decision-making and problem
solving.

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Conclusion
This report provides aboard of knowledge about strategy of Toyota Motor Corporation and they
use different approaches such as JIT (Just – in- time) manufacturing method, etc. to reach the
target that they have set. Besides, this paper also give BCG Matrix evaluation of Toyota which is
to help company determine its market share growth strategy and analyze their stakeholder’s
interest and power, macro environment to Toyota company.
This assignment also has given the recommendation based on their SWOT and analyze the
value chain and VRIO framework of Toyota. As a result, Toyota Motor Corporation has
formulated strategy and organized a reasonable chain to launch new products to market,
enhance and develop their product and market.

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