1.Business Sustainbility

Toyota was founded in 1937 in the automobile industry. It is part of the Toyota Motor Company Ltd. of Kiichiro Toyoda. Kiichiro Toyoda had a dream, to produce automobiles.

Since its foundation, Toyota has been defending and using guiding principles in a way to manufacture reliable cars and to develop and launch innovative and high quality products and services

Environmental challenges

In 2015, the brand announced their "environmental challenge 2050", which comprises six challenges. They comprise developing new products and technologies, recycling, general resources, water and energy optimization, and the role of the brand as a facilitator to a better relationship with the environment.

Challenge 1 -New vehicle Zero CO2emissions

Challenge 2 -Life cycle Zero CO2emissions

Challenge 3 -Plant Zero CO2emissions

Challenge 4 -Minimizing and optimizing water usage

Challenge 5 -Establishing a recycling-based society and systems

Challenge 6 -Establishing a future society in harmony with nature

Environmental problems are increasingly evident and became a serious problem for the planet and life in general. In this context, green marketing has a key role given its transversal nature and potential vast reach. Opting for green marketing implies an internal and qualitative change in relationships between firms and customers. A green marketing strategy should focus, among other aspects, in segmenting the market, developing green products, creating a green positioning, applying a green logistic, adequately managing residuals, opting for a green communication, investing in green partnerships and having the adequate marketing mix. More than thinking about sustainable products, firms need to think about sustainable solution. These solutions correspond to products, services or manufacturing models that not only minimize the negative impacts in terms of sustainability, but mostly, and above all, maximize the positive impacts. Further, when applying the basis of green marketing and green brands, firms address consumers' demand and needs and create "sustainable value". Toyota emerges as a benchmark due to its corporate values, principles, and practices, as well as the brand's prestige and awareness. In 2015 it established a challenge to achieve important environmental goals until 2050.

Instruction

a) Highlights the related key drivers and principles of business sustainability applied in this Toyota's case (10 points)

b) Explain 1 (one) theory that describes the importance of business sustainability in Toyota's case ? (5 points)