Analyzing Toyota's Influence: A Business Development Project in India

Desklib provides past papers and solved assignments for students. This project analyzes Toyota's impact on India's business environment.

MANAGING A SUCCESSFUL BUSINESS
PROJECT
1

Table of Contents
INTRODUCTION........................................................................................................................3
LO1........................................................................................................................................... 4
P1 & M1................................................................................................................................4
P2 & M1................................................................................................................................5
D1......................................................................................................................................... 6
P3 and M1............................................................................................................................ 8
LO2......................................................................................................................................... 10
P4....................................................................................................................................... 10
M2...................................................................................................................................... 12
LO3........................................................................................................................................ 13
P5 & M3............................................................................................................................. 13
P6 & M3............................................................................................................................. 20
LO4........................................................................................................................................ 21
P7 & M4............................................................................................................................. 21
D2.......................................................................................................................................21
CONCLUSION.......................................................................................................................... 25
REFERENCES....................................................................................................................... 26
2

INTRODUCTION
Globalization can be defined as a phenomenon that creates linkages among the nations by
creating interdependency and integration in a number of different segments such as labor
market, capital market, communication, trade, and technology. Globalization and business
drive each other. Business can be the driver or source of expanding the influence of
globalization while as a result of globalization businesses tend to grow in order to survive
and expand their presence across the globe. Globalization results in a reduction of existing
trade barriers promoting businesses to access otherwise inaccessible markets. Other drivers
of Globalisation include organizations like WTO and IMF, governments, especially of
developing countries (Hoffmann and Kumar, 2013).
An organization with assets and active business presence in more than one country is
considered to be a multinational organization. The country where its operations are
headquartered is known as its parent Country while the other countries where it operates
are known as the host countries (Varajão et al., 2017). The multinational companies bring in
the capital in the form of investment that’s known as the Foreign Direct Investment and
contribute to the growth of the host country. The assignment focuses on the evaluation of
the impact on the host country due to the presence and operations of a multinational
Company (Roberts, 2018).
Company Profile
The multinational organization being considered for the purpose of this assignment is the
Toyota Motor Corporation. It’s considered to be the sixth largest company and the second
largest manufacturer of the automobile in the world. Toyota employs over 369000
employees, produces over 10 million automobiles every year, and generates revenue of
over £200 billion (2018). With a presence in almost every country, Toyota is an ideal
multinational organization to assess its impact on host countries. In the context of the
current project, the host country is India and the mode of Toyota Motor Corporations Entry
to India is a Joint Venture with the Kirloskar Group.
3

4

LO1
P1 & M1
A COMPREHENSIVE PROJECT MANAGEMENT PLAN
Aims and Objects
The entry of a multinational organization in a host country is a cause of disruption to the
local business environment. The organization brings not only the capital that will be infused
in the local economy but the expertise in their respective field. This result is an increase in
competition in which the local businesses strive to improve themselves and their business
operations to compete with the multinational. The disruptions in the local competition
levels are only one aspect of the multinationals presence in a country (Roberts, 2018). To
assess the full extent of the effect of a multinational organization, a research-based project
is being conducted.
The aim of the Project (Saunders and Lewis, 2012)
“To gauge the impact of Toyota Motor Corporation on the economic, social, and financial
aspects of the business environment of the Host countries”
Objectives (Saunders and Lewis, 2012)
In order to achieve the above-stated aim, the following objectives are devised
To evaluate the competition levels in the local market through the change in
automobile prices.
To assess the current level of unemployment levels in comparison with
unemployment levels before the entry of Toyota.
To assess the income levels whether there’s an increase or a decrease.
To assess the number of female employees in the automobile industry as a basis of
assessing gender equality.
To assess the changes in the local environment as an indicator of Toyota’s adherence
to the local environment regulations
5

6

P2 & M1
PROJECT MANAGEMENT PLAN
Project cost (Saunders and Lewis, 2012)
The project cost estimation will be based on the estimated cost of executing the projects. It
will include expected expenses on man-hours being spent, questionnaire printing, and
filling, data analysis, stationery, miscellaneous, etc. The estimated project cost is 10000
pounds.
Project duration (Saunders and Lewis, 2012)
The estimated time required for completing the project is 20 weeks. The time duration will
involve dividing the project work into smaller tasks and assigning it to team members with a
suitable skill set. It will also involve conducting secondary and primary research and
presenting recommendations on its basis.
Quality (Saunders and Lewis, 2012)
The quality of the project directly affects the quality of the recommendations. Hence,
incorporating stringent quality standards becomes critical for a successful project. For this
purpose, care will be taken to collect quality data and standard analysis tools will be used to
analyze collected data.
Communication (Saunders and Lewis, 2012)
Communication quality needs to be exemplary to execute the project effectively.
Communication is an integral part of successful project implementation so the following
communication categories are defined to address the communication requirements of the
project
Project Monitoring- For the purpose of monitoring on-going tasks and ensuring their
seamless execution a daily meeting of task teams will be conducted by the project
coordinators. The purpose of the meeting will analyze the project progress and
ensure timely execution of task components. The major points of the meeting will be
sent for the attention of the project manager.
7

Project Evaluation - This will be a weekly meeting of project manager with the
project team and the Managers of the relevant departments. The purpose of the
meeting will be to analyze weekly project progress and resolving problems of the
project teams.
Project Reporting - This will be monthly reporting to the senior management about
the project progress. This will be a written communication from the project
manager’s end (Saunders and Lewis, 2012).
RISK
In a project, risk can be defined as the potential of an unexpected event that can affect the
project. When such a situation arises, the effect on the outcome of the project can be either
positive or negative. In both scenarios, there will be a change in the outcome (Saunders and
Lewis, 2012). In the current project, the risk is primarily associated with the research
process since on the outcome of the project will be the recommendation based on research
conclusions. So, all the research associated processes need to be carefully monitored such
as the creation of a questionnaire, ensuring genuine participation, and extreme care in
compiling and analyzing the data.
Resources (Saunders and Lewis, 2012)
These involve the resources used for conducting the research. The qualitative research will
require scholar articles, papers, journals, and books. These sources need to be relevant to
the topic of on-going research. Another resource could be the internet and more
specifically, the Google scholar.
Project Assumptions (Saunders and Lewis, 2012)
The impact on the Indian business environment of the joint venture between Toyota
Motor Corporation and Kirloskar Group will be positive.
The data being collected for quantitative research will be more accurate and suitable
for the project needs.
The existing business environment components like the local economy, socio-
cultural outlook, etc. will be favorable for the Toyota Motors Corporation.
8

D1
The critical evaluation of the project management with respect to the Toyota Corporation
can be defined as:
INITIATIVE
It serves as the basic process within the implementation of the project plan, which helps in
achieving the appropriate set of risk and communication with the involvement of the
stakeholders in the compilation of the project.
PROCESS PLAN
This type of process deals with the scope and development of the project which contributes
towards the cost evaluation of the raw materials and products, it helps in the appropriate
measurement of dependency over the countries for increasing the profit within the
company.
EXECUTION
In order to determine the successful implantation of the project, the execution of the tasks
has been done by determining the solutions towards the problems faced in the sectors of
wages and employability. On considering the globalization of the company, there has been a
rise in the number of job opportunities available for the unemployed workers contributing
to the increase in the economic condition of the country.
CONTROL
To determine the performance and development of the project, the evaluation of the
project on the regular basis has been done, the changes which are required within the
project implementation are necessary to be done within the project, which helps in
maintaining the balance between the set of procedures
CLOSURE
It includes the successful implementation of the project within the desired countries. It
defines the final stage of establishing the business within the host country, by signing the
treaties in relation to the foreign trade policies of the country.
The above-defined project management process has been applied within the multinational
company to set up the business within the new country (Kerzner and Kerzner, 2017).
9

P3 and M1
Work Breakdown Structure
Work breakdown structure is a project deliverable that facilitates the division of the project
into smaller tasks. It's a visual tool that facilitates the project teams understanding of their
roles and responsibilities (Harrison and Lock, 2017). The work breakdown structure of the
current project is indicated below.
Milestone Schedule
The milestone schedule lists the major milestones of the project. A milestone can be defined
as a task that indicates a critical achievement within the project progress and the time
duration assigned to them is nil since they only symbolically represent an achievement
(Harrison and Lock, 2017). The following milestone schedule contains the completion of
major tasks of the project that are critical for project progress.
10
Toyota's impact on the
host countries business
environment
Identifying and creating
relevant aims and
objectives
Creating the Aim
Devising Relevant
Objectives
Conducting Research -
Primary (Quantitative)
Preparing the
Questionnaire
Template
Data Collection -
Questionnaire Method
Data AnalysisDeriving Conclusions
and Recommendations
Conducting Research -
Secondary (Qualitative)
Identifying the data
Review of available
scholar data

Milestones Time of completion
Creation of Aim and Objectives Week 4
Creation of Questionnaire Template Week 8
Completion of Secondary Research Week 12
Data Collection Complete (Primary) Week 14
Completion of Data Analysis Week 18
Conclusions Derived and Findings
Recommended
Week 20
Project Completion Week 20
Gantt chart and Project Schedule
The Gantt chart is a visual project deliverable that indicates different tasks that together
constitute the project and their completion time frames. The Gantt chart together with the
project milestones constitutes the project schedule (Harrison and Lock, 2017). The project
schedule includes additional information regarding the individual task assignment.
Activities Week
1 & 2
Week
3 & 4
Week
5 & 6
Week
7&8
Week
9&10
Week
11&12
Week
13&14
Week
15&16
Week
17&18
Week
19&20
Discussion on Aim
of the project
Identifying and
Establishing Aim
Finalising the
Objectives
Data
Identification –
Secondary
Literature Review
Questionnaire
Template-
creation
Data Collection
Data Analysis
Data Evaluation
Conclusions
Recommendation
Evaluation
11

12