Group-6 Batch: 21st Batch Faculty of Business Studies Premier University

Premier University

Group Profile

1. 2.

1021114287 Niloy Saha 1021114288 Md. Belayet Hossen

niloysaha42@yahoo.com -

3.
4. 5 6.

1021114289 Md. Rahmotul Alam Raju (Representative)

1021114291 Md. Rabiul Hossain 1021114295 Sabrina Nourin 1021114300 Aye Aye Nue

rajuhse@hotmail.com
rabiulhossain33@yahoo.com ayea77@yahoo.com

TOYOTA MOTOR CAR

Introduce with TOYOTA Vision of TOYOTA Mission TOYOTA If Mission Reflected TOYOTA Steps of Strategy Formulation to outline a strategy for a TOYOTA. Core Competences TOYOTA Competencies Priorities of TOYOTA Corporate Strategy Structure of TOYOTA Financial Performance of a Company Using Balance Scorecard Identified Problems in Operations Strategy Conclusion.

Contents:

Introduce with TOYOTA

1867 Birth of Sakichi Toyoda. 1924 Sakichi Toyoda invents Toyoda Model G Automatic Loom. 1929 Automatic-loom patent is sold to a British company. 1930 Kiichiro Toyoda begins research on small gasoline-powered engine. 1933 Automobile Department is established at Toyoda Automatic Loom Works, Ltd. 1935 The Toyoda precepts are compiled. 1936 The AA Sedan is completed. 1937 Toyota Motor Co., Ltd. is established. 1988 Toyota Motor Manufacturing, USA, Inc. (present TMMK) begins production. 1989 The Lexus brand is launched in the USA. 1992 Toyota Motor Manufacturing (United Kingdom) Ltd. begins production. 1997 The Prius is launched as the world's first mass-produced hybrid car. 1999 Cumulative domestic production reaches 100 million vehicles. 2000 Sichuan Toyota Motor Co., Ltd. begins production in China. 2001 Toyota Motor Manufacturing France S.A.S. begins production in France. 2002 Toyota enters Formula One World Championship; Tianjin Toyota Motor Co., Ltd. begins production in China. 2004 The Toyota Partner Robot is publicly unveiled. 2005 The Lexus brand is introduced in Japan. 2008 Worldwide Prius sales top 1 million mark. 2010 Worldwide Prius sales top 2 million mark; Toyota and Tesla Motors agree on joint EV

Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people. Through our commitment to quality, constant innovation and respect for the planet, we aim to exceed expectations and be rewarded with a smile. We will meet our challenging goals by engaging the talent and passion of people, who believe there is always a better way. Since its foundation, Toyota has been using its Guiding Principles to produce reliable vehicles and sustainable development of society by employing innovative and high quality products and services

Vision

Toyota Motor Corp. Mission Statement Moving People in a Better Way

The Toyota Motor Corporation mission statement is referred to as a "Global Vision" on the Toyota. com website. Toyota has become one of the best automobile companies and one of the most popular car brands in the U.S. automobile industry largely because it is able to live up to its own lofty mission statement: "Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people.

Mission

If Their Mission Reflected:

Identifying waste Product development Towards one piece flow Heijunka Quality Standardisation Technology Leadership Managing people Vendor management Performance measurement

4 Steps of Strategy Formulation to outline a strategy for a company

1. Growth Strategies 2. Stability Strategies 3. Retrenchment Strategies 4. Competitive (Business level) Strategy

Core Competences
Core competencies are those capabilities that are critical to a business achieving competitive advantage. The starting point for analyzing core competencies is recognizing that competition between businesses is as much a race for competence mastery as it is for market position and market power. Senior management cannot focus on all activities of a business and the competencies required to undertake them. So the goal is for management to focus attention on competencies that really affect competitive advantage

Competencies Priorities of a Company

In 1984 Hayes and Wheelwright suggested that companies compete in the marketplace by virtue of one or more of the following competitive priorities:Quality Lead-time Cost Flexibility Many authors and practitioners have added to and adapted this list over the years.

Corporate Strategy Structure

Financial Performance of a Company Using Balance Scorecard

The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. It was originated by Drs. Robert Kaplan (Harvard Business School) and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more 'balanced' view of organizational performance. While the phrase balanced scorecard was coined in the early 1990s, the roots of the this type of approach are deep, and include the pioneering work of General Electric on performance measurement reporting in the 1950s and the work of French process engineers (who created the Tableau de Bord literally, a "dashboard" of performance measures) in the early part of the 20th century.

Identified Problems in Operations Strategy

by Henk A. Akkermans , Johan E. Van Aken Achieving competitive edge seems today, more than ever, critically dependent on the effectiveness of the management of the primary processes in organizations, that is, of those activities that are directly related to the flow of goods (Andrews and Johnson, 1982; Cohen and Zysman, 1987; Sharman, 1984). Despite the strategic importance of these primary processes, they have long been missing in strategic planning. From the late 1960s on, there has been a persistent appeal to incorporate "operations," "manufacturing," or "logistics" in the strategic planning process (Heskett, 1977; Hill, 1980, 1985, 1991; Shapiro, 1984; Skinner, 1969, 1978).(1)

Consolation:
A company could not pick a more appropriate slogan than the slogan of the Toyota Motor Corporation: Moving Forward-- because that is exactly what they appear to be doing. Reporting sales last year in excess of $179,083 million, TMC earned the title of the 8th largest company in the world by the Fortune Global 500 and 12th in terms of growth and revenue by Forbes Global 2000 (Wikipedia,2006). With a one -year sales growth of 3.7% and a net income growth of 7.1%, their reported net income for 2006 was an impressive $11,681 million (Hoover, 2006). Headquartered in Aichi, Japan, this company established in the 1930's by Kiichiro Toyota is predicted to become the largest automaker within the next 2 years. Producers of the Scion and Lexus, TMC has been named as highest in quality for both these product lines by J.D. Power's, as well as Consumer Reports. The number of vehicles Toyota Motor Corporation sells has recently exceeded 8.54 million in a fiscal year, putting them right behind GM and actually outselling Ford in some fiscal months. http://www.toyota.com/toyotaSearch/search?keyword=mission+statement&locale=en

Thanks To All