Question
Toyota has been at the top of the car manufacturing industry for quite some time now. Their biggest internal strength to me was when they
Toyota has been at the top of the car manufacturing industry for quite some time now. Their biggest internal strength to me was when they created the "Toyota Way" and set a standard not only for the future of their company but for competitors as well. Hearing their values and then seeing the strong line of vehicles they have designed tells me that they are a strong, dedicated, and focused unit. To continue in their strengths, I think they should keep their "Toyota Way" values, continue their research and development, and continue to build their cash reserves. All these things together helped them be successful and as they continue to grow, so will the company.
Everyone has weaknesses and Toyota is no exception. They encountered many internal weaknesses in a short amount of time. And while all of them are serious problems, I feel that the most important issue for them to address is the design process. A car is like the human body. Each part is connected to another part which is connected to another part and so on. This part is necessary because every time someone drives a Toyota, they are entrusting their lives to the company that created it. Not putting in the time it takes to create a safe product is criminal.
Toyota is absolutely situated of all current external opportunities. According to the reading, they have a plan to create their own self-driving vehicle. And they are taking their time with the research to minimize errors. They are also branching out into other markets to increase their financial security and enlarge their business partners.
Any form of threat to a company should be considered a priority. But of those listed, the greatest external threat is the weakening of the Australian dollar in Thailand because that is where their most popular vehicle is manufactured. And if that plant shuts down, they could be in big financial crisis.
What's a good response?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Your analysis provides a comprehensive overview of Toyotas internal strengths weaknesses and externa...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started