Toyota Origins Paper Term Example | Topics and Well Written Essays - 1000 words

Toyota Origins - Term Paper Example(Piotrowski & Guyette, 2010, p.89) It was Mr. Toyoda Sakichi, who provided the original urge to the young company. This entrepreneur and inventor par excellence translated some of the creative ideas he employed in the fabric industry to the fledgling automobile industry. Under the mentorship of Toyoda Sakichi, his son Toyoda Kiichiro applied the proven methods of efficiency from the textile looms to automobile manufacturing. In mid-twentieth century, Ford and General Motors had a significant grocery store share of the Japanese motorcar industry, and competing with them was near impossible. Yet, found on the visionary aspiration of the deceased Toyoda Sakichi, his son took upon the challenge of competing with the bigger firms. apart(predicate) from the founders vision, some practical necessities in the form of Japanese military missions in like manner facilitated the step-up of Toyota Motor Corporation in its early days. And then when the leg endary Ohno Taiichi joined the company after the atomic come 42 World War, his incisive engineering inputs helped transform the company into a reputable global player. (Price, 1997, p.14) In 2001, Toyota issued a document titled Toyota Way 2001, which highlights some of the core principles and determine espoused by the management and the workforce. Some of these principles also serve as strategically important in distinguishing Toyota from other companies. For example, principles such as Respect for People, incessant Improvement, etc are inculcated into the workforce right during times of prosperity and distress. The automotive market in the world is verbalise to be highly competitive and volatile. Moreover, demand in this market is affected by a number of factors such as social, political and general economic conditions launch of new vehicles and technologies and expenses incurred by customers to buy and flow vehicles. These factors can make consumer demand to vary substanti ally from one year to another across market geographies and for different types of automobiles. Yet, in spite of such uncertainties and still competition, a recent annual report of Toyota shows change magnitude unit sales from 2006 to 2008, based on the total unit sales of its products all over the world. But, based on the unit sales per geographic segment, there was a decline in theToyota unit sales in Japan, from 2,364,000 units in 2006 down to 2,188,000 units in 2008. Despite the decline in the unit sales ofToyotas products in Japan,Toyotas market share (including Daihatsu and Hino) including min-vehicles, andToyota and Lexus market share excluding mini vehicles, remained at a high level close to prior fiscal year reflecting the sales efforts of domestic dealers (Cortez & Penacerrada, 2010, p.113). One of the key driveway forces behind the continued success of Toyota is its embrace of Lean Manufacturing and Just-In-Time Production techniques. Then there is the overarching set of philosophies and values brought under the term the Toyota Way. The Toyota Way can be further broken down into 4 components. early is a long-term turn up to management decision making second is a systematic approach to problem-solving third is value addition to the company and fourth is to focus on solving persistent problems approach the company. These principles and procedures add up to form the formidable