2 pages/≈550 words
Business & Marketing
Strategic Choices at Toyota Corporation (Research Paper Sample)
This paper provides a discussion of the Strategic Choices at Toyota Corporation.source..
Strategic Choices at Toyota Corporation
Toyota Motor Corporation (TMC) is a Japan based automaker founded by Sakichi Toyoda in 1933. For a long time, TMC has been one of the most admired and fast growing automaker worldwide. The company produces and distributes a wide range of products such as minivans, SUVs, passenger cars, trucks, and automotive parts, accessories and components. The report provides an overview of TMC’s success strategies and recommendation for improvement.
The success of TMC is attributed to the application of a wide range of strategies, including Porter’s four generic strategies; cost leadership, differentiation, low-cost focus, and differentiation focus (Demand Media, Inc., 2012). The four strategies have been adjusted, over the years, in response to both internal (resources and competences) and external business environment.
Here, are examples some of TMC’ success strategies. As part of its differentiation focus strategy, in 1958, TMC modified (customized) a car to fit a specific market niche, which was the American Market (Toyoland.com, 2011). In response to the problem of scarce resources, TMC (through R&D, creativity and innovation) has invented efficient fuel consumption engines and vehicles, which are sold as competitive prices to its customers. Also, TMC has avoided head-on-competition with market leaders by engaging in the manufacture of small cars (Success Principles Online, 2010). Moreover, TMC has created a strong relationship with its suppliers and labor (To...
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