Question

Please provide a situational analysis on Toyota Motor Corporation based on their

• Vision , Mission, Strategic objectives, Values

Answer 1

When one takes a look at the headlines all over the news across the last several weeks, they don't have to be an economist to know that Toyota is in some serious trouble. With negative information being spread like California wildfires, the auto manufacturer is set to take some staggering losses for the2010 business year. This is nothing new to most and to many; it is simply old news. So the real question at hand is« what can Toyota do? Toyota has certainly had a strong track record of quality vehicles dating back to1965 withstanding the last 3 or 4 years. With this being said it is known to many that the company is clearly capable of producing excellent workmanship and dependable, safe vehicles. This auto manufacturer also has an advantage in the fact that it is currently the largest manufacturer in the world, even though much of this may be difficult to liquidate, they do have the opportunity to do so if need be in order to stay afloat longer. Toyota has an incredible multitude of facilities in which to correct their defaulted vehicles thus saving them some expense and allowing them to create a personal customer interaction where they can repair and even better their customer opinion. However Poor brand image is most likely Toyota's largest weakness at the moment. Due to their massive number of recalls, now for more than one issue and both of which are safety related, Toyota has suffered an incredibly tough blow to their current brand image. This swing of the axe is magnified even more by allegations and proofs that Toyota actually attempted to hide these safety issues and deceived the general public. Another weakness is that with at emporary sanction on car sales, Toyota will relinquish multiple weeks of revenues, which will cause them to have an even more difficult time pulling themselves out of the hole. This all comes during a time as well when Toyota, like most car manufacturers, had already experienced a recession based decline in sales, 4% to be exact in 2009, even before public announcement of the safety concerns. At the current moment, Toyota does have a few opportunities that can help repair their brand image. While the current recalls are incredibly costly both in finance and brand image, Toyota can turn this event into a positive experience for their customers by showing great appreciation, concern and diligence.