What are Toyota’s Mission and Vision Statements
The Toyota Motor Sales U.S.A., Inc. Mission and Vision Statements are as follows:
Mission Statement: “To attract and attain customers with outstanding products and services and the most satisfying ownership experience in U.S.A”
Vision Statement: “To be the most successful and respected car company in America.”
Toyota’s Stakeholder Groups & CSR Initiatives
As an international company in the automotive line, Toyota’s corporate social responsibility activity deals with various stakeholders with unlike interests and demands. Although, the following are the most significant groups of Toyota’s stakeholders, according to significance in affecting the firm:
Employees: Toyota considers employees as its most important stakeholders. This stakeholder group aims for job guarantee, career future and fair employment treatments. Toyota’s corporate social responsibility strategies finding the interests of these stakeholders through satisfaction of salaries and wages and a career development program for strengthen employees. For example, Toyota has an On-the-Job Development (OJD) program, like training courses specific to individual job’s paths in the company. These training courses include Toyota Way Development, Technical Development, and Management Development. The company offers financial advisors for employees’ continuing formal education. Thus, Toyota’s syndicate social responsibility programs please the interests of employees as stakeholders.
Customers: Customers are the second important stakeholders in Toyota. The interests of this stakeholder group are high quality products and services, along with attractive pricing. Toyota finding these interests through rapid transformations based on The Toyota Way and the Toyota Production System (TPS), which aim to efficiency, highest quality and fastest innovation. Thus, the enterprise’s corporate social responsibility programs properly cover the interests of customers as stakeholders.
Investors: Toyotaconsiders investors as third major stakeholder group. These stakeholders are interested in financial gaining. Toyota make these interests through emphasis on international business market. The company had a decline because of the recession in the late 2000s and huge numbers of recalled products in 2009 due to safety matters like the sticking pedal problem, following its restructure Toyota now highlights advance business resilience as a priority over fast expansion.
Environment: The main interests regarding the environment as a stakeholder include business maintaining and environmental protection. The company make these interests through many the Toyota Environmental Activities Grant Program. The firm donates automobiles and funds for many environmental saving programs. For example, in 2008, Toyota donated five hybrid cars and more than $1 million to support Everglades National Park. In addition, the Toyota always want to push more recognitions of hybrid car to the market to improve the environment.
Communities: Communities are interesting in their socioeconomic development through various community development and support programs. For example, the company has education outreach programs to promote literacy. Also, Toyota’s Go Safely initiative provides safe driving education and tools for families. In addition, the firm’s Meal Per Hour program donates meals to Food Bank.
Business Model of Toyota : As one of the most ahead automobile factory in the world, Toyota ranks within the top ten worldwide. Due to their special business model, Toyota now have a market share of 14%. According to Autodata.com, the Toyota City based automaker ranks fourth in United States sales.
We have firmed that their business model is an Integrated Low Cost – Differentiated Strategy. It is finding the lowest operational cost with a unique strategy that differentiate them from the competition. In 2000, Toyota launched a new cost-effective strategy called CCC21 (Construction of Cost Competitiveness for the 21st century), for Low Cost operational expenses. With this aspect Toyota plans to advance such initiatives globally, based on its policy of purchasing the world’s best parts at the lowest cost with the shortest lead times. Because Toyota understand that only with lowest cost of operation, maximize the quality of the product, then can bring down the car pricing.
According to Toyota, they have many manufacturing revolutions that has fundamentally changed established practices; innovating product development and investing in car design. They have achieved higher quality at lower costs by creating standardized, multipurpose components. Also, the reduction in cost has strengthen the value and fortifies the competitiveness of product.
Toyota has strategy is very unique to the automotive industry, that Toyota is trying to conquer customers with great product and services to obtain high customer satisfaction.