Toyota's Management Strategies

Running head: MANAGEMENT THEORY AND PRACTICES
Management Theory and Practices
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2MANAGEMENT THEORY AND PRACTICES
Table of Contents
Introduction:...............................................................................................................................3
Analysis:.................................................................................................................................3
Concept of Strategic Management:........................................................................................3
Step One:................................................................................................................................4
Step Two:...............................................................................................................................4
Step Three:.............................................................................................................................4
Implementation of Strategic Management in Toyota:...........................................................5
Recommendations:.................................................................................................................7
Conclusion:................................................................................................................................7
Reference:..................................................................................................................................8

3MANAGEMENT THEORY AND PRACTICES
Introduction:
Toyota is one of the leading business organizations in the automobile industry. Toyota
has been started its journey in 1937 in the industry. Soon it has secured the leading position in
the industry by its innovative and unique practices. The organization has witnessed rapid
growth since past few years, which reflects the innovative strategic management quality of
the Toyota authority. Being one of the oldest and renowned business organizations, Toyota
has put significant impact on the business world. It is not easy to maintain coordination with
the different parts of world. Thus, the leaders play a crucial role to manage the organizational
service (toyota-global.com, 2017).
The following report has articulated on the Toyota’s organizational management that
influences the growth of the organization.
Analysis:
Strategic management plays crucial role in earning desired success for every business
organization. In this competitive era, where every business organization is incorporating
modern and effective techniques to stimulate the growth of the organization, strategic
management is known as the primary success factor for the organization, as it is impossible to
run any business organization without efficient management (Jenkins & Williamson, 2015).
Concept of Strategic Management:
It has been argued that strategic management is mainly based on three key stages that
help the business organization to earn success to some extent, such as- formulation of
strategy, implementation of those strategy and strategy evaluation (Percy & Elliott, 2016).