International Business Toyota - 3708 Words

Company Overview Company Name Toyota Motor Corporation Head Office Toyota, Aichi, Japan Established 1933 by Kiichiro Toyoda Chairman Fujio Cho President Katsuaki Watanabe Revenue USD$173 Billion (2005) Total Number of Employees 285,977 (March 2006) Subsidiaries Toyota Financial Services, Daihatsu Motor Co., Ltd., Hino Motors, Ltd., DENSO, Toyota Industries Industry Automobile manufacturing, Financial services, Biotechnology Products Toyota, Lexus and Scion Slogan Toyota Moving Forward (It’s time to Move Forward) Global position 8th largest organization 2nd largest in automobile industry Toyota Motor Corporation, a Japanese MNC, or widely known as Toyota markets vehicles to over 170†¦show more content†¦Fast forward into the new millennium, Toyota intends to meet its sales target by expanding overseas production rather than just raising exports in order to avoid protectionist measures. Japanese auto makers are rushing to expand production abroad in the midst of sluggish sales at home and on the back of profits they earn abroad, especially in their cash cow market US. Three of Japans five major auto makers posted record high overseas outputs in fiscal 2005, backed by continuing moves to relocate production overseas. They see as a new frontier that has still to be fully tapped, for the current fiscal year and beyond. (Asia Time, 2006) Toyota is pursuing a so-called †glocalisation† strategy of producing where its sells in order to rapidly accelerate its global sales growth (Global Insight, 2006). Roland Berger Strategy Consultants reports that North America and Western Europe will lose 11% to 20% of their global supplier production share by the end of 2010, as automotive supplier production in Asia and Eastern Europe will soar. Meanwhile, China will attract the bulk of automotive supplier investment as its share of Asias automotive supplier production increases by 165% by 2010. The automation industry within Korea and Japan will remain stagnant as their suppliers focus on overseas expansion (Auto Suppliers Under Pressure to Expand Globally 2006). By 1980, Latin America and Asia had declined very sharply in their relativeShow MoreRelatedInternational Business Strategy of Toyota3721 Words   |  15 PagesA  Brief  Understanding  of  IBS  Ã¢â‚¬ Ã¢â‚¬ A  Case  Study  of  Toyota                                             A Brief Understanding of International Business Strategy --A Case Study of Toyota    by  Peter  LIU,  peterliu@acculine†mfg.com      MSc International Business       P14B45 International Business Strategy Lecturer: Dr Yee Kwan Tang Sponsored by 10 May 2010    Acculine Precision Manufacturing Company Tel: 0086-574-28887315, Fax: 0086-574-28875303, Web: www.acculine-mfg.com, email: info@acculine-mfg.com A Brief Understanding of IBS --A Case Study of Toyota PageRead MoreEnvironmental Factors Affecting Globalization1321 Words   |  6 Pagesdetermine within the domestic market (Business, para. 1). Operating in a global market means that the organization has begun to offer their goods and services worldwide to expand the market and increase sales. Globalization presents a huge opportunity for success for many organizations. Domestic and global marketing helps to promote the organizations success and continue the expansion of the business by redesigning marketing plan to fit certain aspects. Toyota Corporation is an organization affectedRead MoreEssay on Toyota Global Domestic Marketing1331 Words   |  6 PagesGlobal and Domestic Marketing Toyota Motor Corporation conducts both domestic and global marketing with 51 overseas manufacturing companies in 26 countries and regions. Toyota’s vehicles are sold in more than 170 countries and regions (Toyota, 2010). 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Their primary stakeholders are the companies’ employees, suppliers, customers and their owners. The companies’ first priority is to take care of these stakeholders. Toyota was trying to address all the stakeholders’ needs. First, Toyota needed to make sure they have a safe work environmentRead MoreThe Globalization Of A Multinational Corporation1725 Words   |  7 Pagescorporation is a corporation that does business in two or more countries. It has its home base in its own country, but has branches or subsidiaries in other countries. Their home base is the company’s identity. For example Toyota is Japanese even though it operates in the United States. With modern technology and improvement in communications, transportation and infrastructure, corporations are venturing beyond national boundaries in the pursuit of business opportunities. Their size provides themRead MoreHas Cost Controlling and C ost Cutting Contributed to Toyotas Recent Massive Recalls?1146 Words   |  5 Pagescycles of optimism and pessimism on the part of the consumer. Toyota is no different in this regard. Of late, economic uncertainty has created cost pressures on many auto companies. These auto companies, pressed for demand for their cars, are now attempting to cut costs to offset lost revenue. Typically, during economic pessimism and recession, auto sales decline as consumers have less discretionary income. However, due primarily to Toyotas quality and organizational structure, the company has continued