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Business Strategy Assignment Sample | Toyota

   

Added on  2021-02-20

8 Pages2095 Words37 Views
BUSINESSSTRATEGY

Table of Contents.........................................................................................................................................................2INTRODUCTION...........................................................................................................................3LO 3.................................................................................................................................................3P 3 Toyota Porter's five forces analysis .....................................................................................3LO 4.................................................................................................................................................5P 4 Mission, vision and objectives of Toyota ..........................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8

INTRODUCTIONA business organisation is always known by its work and efficiency of doing that work,and before any work has to be started the organisation have to build a framework of the processas how to achieve the set objective within the limited resource and with maximum efficiency forthose planning organisation appoint managers and market analysts who make the plans and allthe strategies for the organisation to be successful, as it helps in proving the business acompetent advantage if the strategic plans are allocated soundly. Report will discuss about theToyota's five porter's analysis and strategic planning. Toyota is a car manufacturing companywhich was established in 1937 by Kiichirio Toyoda. Toyota manufactures its cars with differentsubsidiary brands like Hino, Lexus, Ranz, Daihatsu. Toyota is the world's first company tomanufacture electric cars. It has established its base in UK before the recession hits the world. LO 3P 3 Toyota Porter's five forces analysis Porter's five forces is called diamond model which helps us to understand the industry andanalyse its profits. Power of suppliersThe bargaining power of suppliers in situation of Toyota is powerless as the company hasa widely distributed in many suppliers , as a result the suppliers cannot raise their voice for anyproblem for against Toyota. As these suppliers are in small scale and can't go against Toyota.And if the suppliers go against the company then the company can terminate that supplier whichwill affect only the suppliers as the supplier will face a business loss ,as the Toyota has manychoices available in the market and can always replace them. As Toyota will always want tomaximize its profitability with lowering the costs.(Scholes, 2015) The company must putemphasis on the establishing a strong base of supply chain of suppliers. Toyota is also known forits innovations and techniques and finding alternatives for the production of the cars, which willhelp the company to switch to alternatives if any of the suppliers increases the prices of theirgoods. Toyota has also wisely created its own raw material supplier chain which is onlydependent on Toyota company to buy its product and this will decrease the chances ofbargaining from the suppliers.Power of customers

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