Introduction

Role of Business

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Table of Contents

Question 1. 2

Question 2. 2

Question 3. 3

Question 4. 4

Question 5. 4

Question 6. 5

Question 7. 6

References. 7

Question 1

The performance and long term visions of Toyota

Toyota motors company mainly incorporated in Japan in the year 1937. This company has achieved many milestones and records by increasing its overall performance. It is one of the largest companies in the world. Toyota has put in extraordinary efforts in emerging the economy. Huge growth is noticed in this sector after the period of the 2000s (Toyota, 2022). Toyota mainly observes and identifies the needs of the middle-class sector from the emerging sectors. All over the world, Toyota has applied a clear cut vision of the application of successful strategy that will result in double of Toyotas FDI of the last 40 years. Toyota has a vision of challenging the goals by engaging the passion of people in a better and more responsive manner. They also aim to increase the expectations of consumers and reward them with a smile. The company has strived for excellence by ensuring that they are eco-friendly in their services and customer experiences.

Question 2

The present corporate image of Toyota

Currently, Toyota is one of the most popular car brands. Toyota is eligible in holding this position for a large period many surveys were also conducted to ascertain the popularity of car brands Toyota always tops the list most of the time. There are many reasons associated with the development of the corporate image of Toyota as they are the first in selling more than 10 million vehicles per year. Functional value has a more useful role in promoting the cooperative brand (Kato, 2021). The competitors are also very dominant in the corporate market. Many new entrants like Ford Honda also dominate the market but Toyota manages and survive in the competition. Toyota is running ahead of all of its competitors and that is the reason it can maintain and increase its corporate image. Currently, Toyota is also considered as a family-oriented vehicle and also it is economically affordable

Figure 1: Graph of corporate growth of Toyota

Source: (Abdullah, 2020)

Question 3

Success and improvements of Toyota

Toyota is one of those companies that have shown tremendous success and achievements. It is also facilitated by many awards and recognition. Toyota is also one of the longest-lasting vehicles in any full-time automotive industry. These achievements made by Toyota are not an accidental fact. The main reason behind their success is their high quality of design and innovation moves. Toyota has also been awarded lots of awards every year by year awards like the Academic award medal for new technology Technological development award Outstanding technical paper award and many more.

Question 4

Effect of the company’s action

Toyota has done many social activities and taken part in CSR activities the actions of Toyota have a remarkable impact on society The company also conducted many educational programs for many students and gives many facilities to the students in overall behaviour changes and the classroom training They also takes all the requires steps for the development of skills and techniques and it also creates many job opportunities. As the environment is one of the important parts of a society A proper business plan helps in the overall action of the company (Abdullah, 2020). Toyota also looks behind in this area and also plans a theme-based eco-park that will focus on economical conservation Toyota also took major steps for society’s benefit it conducted healthcare activities for the benefit of many people and also donated medical equipment to them. The company also communicates with its stakeholders by conducting dialogues with local communities. So the effect of the action of Toyota mainly creates a positive impact on both the societies and the stakeholders.

Question 5

Toyota’s CSR activities and communication strategy

Toyota succeeds in building an overall communication strategy with the consumers. Since the consumers are the primary importance for every company Toyota also gives their main priority to consumers and also takes care of them by properly communicating with them and asking their feedback from the consumers. They have also looked up at many factors while communicating with the consumers and developing new products and differentiating from the other products. Toyota also takes appropriate steps to resolve the queries and doubts of the consumers and also provides individual guidance to all these market expectations of car industry changes with social expectations (Saniuk, Grabowska & Gajdzik, 2020). Toyota adopted several strategies and tools to improve communication with the consumers. The company also donates many amounts for the development of poor and needy people and they mainly look upon the backward class of area many charitable societies have also gets benefits from the CSR activities of the company.

Question 6

Ethical policies of Toyota

A proper code of conduct mechanism is necessary for an organization. The business guidelines and decision-making process associated with the ethical policies must be properly maintained. Toyota also faces many difficulties regarding the ethical policies like there are many reasons for these difficulties. Some of the reasons that affect the ethical policies of Toyota are problems regarding the quality defective design and many more. The company also faces many quality-related problems Toyota has also taken appropriate steps to rectify these errors and mistakes. The use of social capital may create revenue-creating opportunities for the car manufacturing company (Tchorek et al., 2020) These policies contain many aspects and it is also necessary to issue a policy or strategy to take proper care of these policies Toyota also gives their main priority to the shareholders but ignores the stakeholders for a long term success it is necessary to give possible effects to all customers shareholders stakeholders. So these are the different ethical issues faced by Toyota in current times.

Question 7

Recommendations and conclusion of performance of Toyota

The above discussion clearly mentions the corporate power and long term vision mission of the company. Toyota also plays a major important role in the development of a society. They also tool care various aspects of the society like the shareholders and consumers. The company has given a major contribution to the hospitality sector school sector and other rural and backward class areas. The overall performance of Toyota is also terrific that are able to maintain them self as one of the largest companies in the world. Also been awarded many awards and honours and they have also survived in the competition and are still a part of one of the biggest companies in the world.

References

Abdullah, R. (2020). Importance and contents of business plan: A case-based approach. Jurnal Manajemen Indonesia, 20(2), 164-176. DOI: https://doi.org/10.25124/jmi.v20i2.3204

Kato, T. (2021). Functional value vs emotional value: A comparative study of the values that contribute to a preference for a corporate brand. International Journal of Information Management Data Insights, 1(2), 100024. DOI: https://doi.org/10.1016/j.jjimei.2021.100024

Saniuk, S., Grabowska, S., & Gajdzik, B. (2020). Social expectations and market changes in the context of developing the industry 4.0 concept. Sustainability, 12(4), 1362. DOI: https://doi.org/10.3390/su12041362

Tchorek, G., Brzozowski, M., Dziewanowska, K., Allen, A., Kozioł, W., Kurtyka, M., & Targowski, F. (2020). Social Capital and Value Co-Creation: The Case of a Polish Car Sharing Company. Sustainability, 12(11), 4713. DOI: https://doi.org/10.3390/su12114713

Toyota. (2022). Toyota Global Vision and guiding principles. Toyota Motor Europe. Retrieved 15 February 2022, from https://www.toyota-europe.com/world-of-toyota/this-is-toyota/toyota-global-vision.