Comprehensive Business Functions Report: Toyota Corporation Analysis

This business report examines the key functions within Toyota, a multinational vehicle manufacturing corporation. The report details the importance of production, marketing, finance, and human resources within the company. Production is analyzed in terms of setting targets, ensuring quality, and the adoption of Just-in-time and lean production methods. The human resource function is discussed in the context of recruitment, training, and maintaining a global presence. The finance function's role in preparing financial statements and managing cash flow is explained, while the marketing function's role in promoting vehicles and customer retention is also highlighted. The report emphasizes the necessity for these functions to work in coordination to achieve Toyota's goals and maintain its position in the market. The report includes references to relevant books and journals to support the analysis.

BUSINESS
REPORT

In any enterprise, it is necessary that the various functions work in proper coordination
and cooperation with each other so as to enable effectiveness efficiency of operations across the
organisational premises. Toyota is a multinational corporation dealing in manufacturing of
vehicles and is headquartered in Toyota City, Japan. In this regard, the number of functions that
prevail within this company are production, marketing, finance, human resource, IT, accounting
etc. All of these are essential components of a successful organisation such as Toyota and assist
an enterprise in carrying out the activities and operations in the desired manner. Production is a
key function within any business enterprise which is engaged in manufacturing of goods and
services. Toyota carries our manufacturing of vehicles and related parts in order to meet the
needs and requirements of consumers within marketplace. Production managers of Toyota are
responsible for setting targets for each segment of the whole manufacturing process. The
quantity and quality of goods are in accordance with the demands of customers is also ensured
by production function. In this context, there are various methods or techniques that are used by
a business enterprise in order to sustain in market. Toyota is a remarkable representation of
adoption of Just-in-time method and lean production to enhance efficiency, reduce the
operational costs and decrease the generation of waste (Toyota and JIT Manufacturing: The
Origins of JIT, 2019). Human resource function within a company is essential for carrying out
activities such as recruitment and selection, dealing with grievance policies and procedures,
conducting training and development, enforcing heath and safety regulations etc. (Wright,
2018). This function within Toyota assist the enterprise in maintaining their global position and
name as it enforces a strict framework within which the employees of an organisation have to act
and conduct activities of the company.
Finance function is yet another important element of an enterprise. Its major role is to
prepare the financial statements of company which includes income statement, profit & loss,
balance sheet etc. (de Waal, Bilstra and De Roeck, 2019). Estimation of the total amount of
funds required for proper functioning of activities within Toyota is carried out by this function.
Further, finance is also responsible for managing the cash flows of Toyota and ensuring that they
have enough availability of funds at all times to meet the daily expenses. Besides this, marketing
is another essential function which is responsible for making sure that the actions of company are
well planned and assists them to achieve the desired long term goal. This function within Toyota
is largely concerned with promotion of vehicles manufactured by company which strive to fulfil
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needs and wants of customers and render a competitive edge to company over their rivals.
Marketing involves undertaking such activities which are aimed at grabbing the attention of a
large customer base and retaining them for a long duration of time. A well known example of
utilisation of extensive marketing is Toyota which develops creative ads, marketing campaigns
and videos in order to grab the attention of large number of people (Nusran and et. al., 2018) .
It is immensely necessary that all the above stated functions within Toyota work together
in a coordinated manner. This will ensure that the operations and manufacturing process being
carried out within the enterprise are sufficient to assist Toyota in maintaining its name and
position within marketplace in order to timely achieve the desired goals.
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REFERENCES
Books and Journals
Wright, P., 2018. Fundamentals of human resource management. Management. 5. p.27.
de Waal, A., Bilstra, E. and De Roeck, P., 2019. Identifying the characteristics of a high-
performance finance function. Journal of Advances in Management Research.
Nusran, M. and et. al., 2018. Analysis Of Marketing Mix On The Decision Of The Purchasing Of
Toyota Kijang Innova Car Using Method Of Structural Equation Modeling (SEM).
In IOP Conference Series: Earth and Environmental Science (Vol. 175, No. 1, p.
012016). IOP Publishing.
Online
Toyota and JIT Manufacturing: The Origins of JIT. 2019. [Online]. Available Through:
<https://www.brighthubpm.com/monitoring-projects/72086-toyota-and-jit-
manufacturing/>.
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