Toyota Motor Corporation Business Strategy Implementation
|✓ Paper Type: Free Assignment||✓ Study Level: University / Undergraduate|
|✓ Wordcount: 2745 words||✓ Published: 10th Dec 2020|
Factors affecting Implementation of Strategic Plan
Monitoring & Evaluation (M&E)Framework Template
Toyota Motor Corporation
Toyota Motor Corporation is a Japanese company, founded in 1937. They are engaged in the design, manufacture, assembly, and sale of passenger cars, minivans, commercial vehicles, and related parts and accessories primarily in Japan, North America, Europe, and Asia. Current brands include Toyota, Lexus, Daihatsu and Hino. Toyota is currently one of the top automobile manufacturers in the world. They are company driven by imagination, experimentation, humility, respect and innovation. They believe it is people who will go extra mile to deliver their customers all that Toyota promises to be, today and into future. They believe it is all about integrity. Today I will talk about some factors that can affect ‘Toyota’ strategy and goals for future.
As you already know about their goals for future from assessment one, here I will show how they can use a Gantt chart and action plan, and monitoring for easy achieving these goals. When you have a worldwide company you need to be aware of many factors that can affect your business and current situation, because of that you need to have a short and a long term goals, you need to have a clear visions and missions, and you need to motivate your staff to work in the line with them.
Factors affecting Implementation of Strategic Plan
- Culture in organisation – This is the one of the main factors that can affect your strategy, because you need to be aware of internal situation. If you want to minimize a chance of possible problems, you need to have clear values and objectives, key beliefs and understanding between members in organisation. Culture is pattern of shared values about how things are done within organisation, this pattern is learned by members as they cope with external and internal problems, and is taught to new members as a correct way to perceive, think and feel. Toyota have a clear vision and mission statements that everyone in the company can understand, and they force team working, respecting and equality between employees. If you do not have rules and standards within the company you will face a lot of problems, because everyone will work on their own way and that is usually different between each other and that will cause a big problems.
- Environment – This is the factor you have to be aware in any concept of your company, because we have one planet and we need to respect it. ‘Toyota’ have a clear principals for environment for example “Respecting planet” and we can see that they are following it, because they have a positive attitude toward environmental sustainability and they are trying to help “planet” with minimizing usage of non-renewable resources. This is a good path for ‘Toyota’ because in now days we have a lot of consumers that are part of ‘green movement’, and they will chose them rather than some other motor company which not respecting our planet. They are working on ‘Environment challenge 2050’ were they want to minimize C02 usage, this is the one of good goals because they will have fully support from every ‘planet friendly’ companies around the world.
- Technology – You need to be aware of this factor because technology is changing fast, and if you want to have a good market share you need to follow it, but you need to be smart and to consider all effects that coming with this change. You need to consider is it that change something good for your business or it is not, you need to have right people to brining this decision and to work on it. If you want to have a good shares you need to work on your innovation within your company. ‘Toyota’ is doing very well in this area because they are one of the biggest company in world and they have a good people who are working on innovation. The one of their current innovation is a electric cars, that are becoming very popular and with this innovation they are showing again that they are ‘planet friendly’.
- Legal - You need to be aware of this factor because it can affect your company in mostly every aspect in company, from economic to employee sector. Here are a lot of examples that can happen and that can affect your company: political risk, laws, restrictions, government takeover, taxes and more others. ‘Toyota’ is the worldwide company so they need to be aware of this factors because every country have different laws, taxes and government. They need to follow every role that can affect them and they need to respect them and to work in line with it.
- Economic – This factor need to be consider for one of the main internal and external factors, because it affecting everything in your company and you need to be realistic when the time comes to invest in new things and to afford them or if you selling some products you need to make them affordable for everyone. ‘Toyota’ is doing good on this part, because they have a lot of choice of cars, for different prices and the quality is always good. Also ‘Toyota’ need to be aware of exchange rate in other countries and to measure is it profitable to sell cars there.
- Trends – If you have a company you need to follow trends and to be in line with them, because you need to have a innovation in your company if you want to stay on market and to have good profit. Here you need to be sure in your decision and not to run for every new trend that is on market because maybe it is not right for your company. You need to invest in them and to be aware of your competitors as well. You need to be aware of few factors here, for example the size of your company, economic situation, legal factors in that country and many others. For example; in UK they want to have a all electric cars in near future what means that ‘Toyota’ cannot promote other cars, and they need to invest in their electric cars.
- Employees – You need to consider your internal factors that can have a huge impact on your company like is employees. For a good company and productivity you need to have skilled people for that job, people who want to invest in new ideas and to work on them. You need to motivate your staff for work, to award best employees and to bring innovation in work place so they can feel like they are working from home. For best productivity you should orginise some challenges for them or same games, talk with them about new products you want to invest in, you need to make them feel like they are involve in the main decision, ask for opinion stimulate new ideas. Without employees you can not do anything in your company, so you need to think about them first and what is best for them.
Action Plan for ‘Toyota’
|Action||Responsible||Priority||Status||Start Date||End Date||Notes|
|Goal #1: Skilled people|
|Make a question for an interview||Mark J.K.||High||Complete||8-24||9-2|
|Choose right possible candidantes||John M.||High||Not started||9-15||9-28||You must to be sure 10/10|
|Be present on interview||Maria S.||High||Not started||10-12||10-13|
|Bring a decision||Maria S. and John M.||High||Not started||10-20||10-25|
|Goal #2: Research for EV|
|Research about battery||Sally J.||High||In progress||9-5||9-20||You must consider all prices from|
|Testing battery||George O.||High||Not started||9-24||10-14||suppliers, and to be sure that|
|Checking prices from suppliers||Mark J.K.||Medium||Not started||10-19||10-22||battery is working properly|
|Choose right suppliers||Sally J.||Medium||Not started||10-23||10-25|
|Make a contract||Sally J. and Mark J.K.||Medium||Not started||10-27||10-27|
|Goal #3: Improve quality|
|Identify all possible suppliers||John S.||Medium||Complete||9-7||9-10||Check all possible solution for|
|Find fault that happened||George O.||High||Complete||9-5||9-10||fault products, be ready to start|
|work on improving fault||George O.||High||In progress||9-15||9-21||with producing new vechiles|
|Send results to research department||George O.||Medium||Not started||9-22||9-22||Be sure that new products have|
|Starting with using new quality||Sally J.||High||Not started||9-25||9-30||better qulity.|
‘Toyota’ have a ‘Environment challenge 2050’. Here they are trying to help ‘planet’ in minimizing and making sustainable resources less used. They want to minimize water usage, and trying to use recycling system and using raining for painting and supplying water for other used. They want to invest in electric cars because that is the future vehicle and they want to became best company who selling these cars.
Monitoring & Evaluation (M&E) Framework Template
|INDICATOR||DEFINITION How is it calculated?||BASELINE What is the current value?||TARGET What is the target value?||DATA SOURCE How will it be measured?||FREQUENCY How often will it be measured?||RESPONSIBLE Who will measure it?||REPORTING Where will it be reported?|
|Goal||Increasing sales for 20%||Decide the start and finish date, compare the results||50%||70%||Comparing with other sale report from last year||Once at year||Sale person||Sale report|
|Outcomes||Improvement in the sales||Decide the start and finish date, compare final results||Average score: 6||Average score: 8||By talking with consumer and their feedbacks||Once at year||Sale person||Annual/ sale report|
|Outputs||20.000 cars sold||Decide the start and finish dare, compare final results||10.000||30.000||Comparing results and the market from last month||Every two/three months||Marketing||Annual report|
This is increasingly important factor in your company, because you need to have a good leaders that can motivate others and stimulate them to follow your culture, structure and values within company. You need to have right people for this position, they need to motivate others, to support them, to make good work environment and to bring big work difference and activities on many aspects in your company. You need to consider this factor for one of the biggest because your leader will lead your team and company. ‘Toyota’ have a good principles for example, equality at work place, they involve everyone in bringing decision and giving their opinions and they stimulate everyone for good job.
I can tell that ‘Toyota’ have transformational leadership. This leadership is focus on leader and his followers, and they raise one another to higher level of morality and motivation. We can see that in their principles they are appreciate integrity and fairness, they have set and clear goals, their leaders have high expectation and they motivate others to achieve them, I can say this because during my research I saw that they have short term and long term goals, and they are consider every part of it, for example: electric cars, everyone in company are involve in creation and bringing ideas they are respecting differences and they are trying to motivate others to think differently, they consider their economic situation and the situation on market and is it good to invest in electric cars before even they start. They are building home atmosphere so people will be comfortable to work there and to feel free and be stimulate to bring new ideas. Every characteristic here is connected to characteristic of transformational leadership style.
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You need to have health work culture at work place. This means you need to be respectful and honest with your employees, to motivate and support them. You need to set clear goals and values, to have communication and meetings with employees, to involve them in bringing some decision and to make them feel comfortable. They all need to have individual responsibilities and to feel power and importance, they need to be flexible and to try to work as best as they can. I think that ‘Toyota’ have healthy environment at work place, because they all work as a one, they are focus on team work and respecting each other beliefs and perspectives, they forces differences and respecting everyone opinions. We can not see who have a real power in the team because everyone working together on the same problem and trying to solve it.
I think these two factors have a big influence at management of change, because without both factors the company could not exist. And the ‘Toyota’ need them for making innovation and progress at work place. They can have a big impact on business strategy because they are the ones who work on it and who trying to achieve them, culture plays important factor here because without rules and set goals they would face a lot of differences in working habits and they would have to control everyone what is making a more unnecessary jobs.
- EV electric vehicle . (2017, july 29). Retrieved from Toyota global : http://www.toyota-global.com/innovation/environmental_technology/electric_vehicle/
- Toyota global visions . (2017, July 30). Retrieved from Toyota global: http://www.toyota-global.com/company/vision_philosophy/toyota_global_vision_2020.html
- Toyota mission and vision statment analysis . (2017, July 29). Retrieved from panmore: http://panmore.com/toyota-mission-statement-vision-statement-analysis
- Samson, D . , 1& Daft, Richard, L. (2005). Fundamentals of Management. (Second Pacific Rim Edition). Orlando, Florida: Dryden Press. 98-99
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