Operations function of Toyota Motors Corporation (TMC) Research Paper (Research Paper Sample)

Table of Contents TOC \o "1-3" \h \z \u Toyota’s performance in the light of the five performance objectives PAGEREF _Toc348711168 \h 21.0 Introduction PAGEREF _Toc348711169 \h 22.0 Analyzing Toyota’s performance of the five performance objectives PAGEREF _Toc348711172 \h 42.1 Cost factor PAGEREF _Toc348711173 \h 42. 2Quality factor PAGEREF _Toc348711174 \h 42.3 Speed factor PAGEREF _Toc348711175 \h 52.4 Dependability Factor PAGEREF _Toc348711176 \h 52.5 Flexibility Factor PAGEREF _Toc348711177 \h 52.6 Toyota has effectively applied the five performance objectives PAGEREF _Toc348711178 \h 63.0 How the application of modern techniques can support the five objectives of the Toyota. PAGEREF _Toc348711179 \h 73.1 Quality and Costs PAGEREF _Toc348711180 \h 73.2 Speed PAGEREF _Toc348711181 \h 83.3 Dependability PAGEREF _Toc348711182 \h 93.4 Flexibility PAGEREF _Toc348711183 \h 94. 0 Conclusion PAGEREF _Toc348711184 \h 10References PAGEREF _Toc348711185 \h 10
Toyota’s performance in the light of the five performance objectives
1.0 Introduction
Each organisation is concerned about how it will survive in this competitive market and improve its operations (Bozarth and Handfield, 2008). Therefore, the internal organisation’s relationship between its operations and other functions like sales and human resource is very critical. The business strategy aligns operations management with the general strategy. In addition, business strategy underlines the direction an organisation will take over a long term (Neely, 2002; Lowson, 2002). However, the business strategy only becomes a reality through operations management. Indeed, Lewis (2003), clearly points out that the success of an organisational is likely to be achieved if short-term operations are inline with long-standing strategic objectives and help the organisation to achieve competitive advantage. In theory, there are two concepts to create a corporate strategy, an organisation can pursue a bottom-up concept where operations strategy views the general strategy as coming from day-to-day operations, or an organisation can use the top-down concept, whereby corporate strategy outlines the objectives for various business depending on their positioning (Slack, et al., 2007).