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Corporate Strategy - Toyota Prius Hybrid

Essay by   •  August 20, 2011  •  Case Study  •  703 Words (3 Pages)  •  1,693 Views

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In light of the rapidly contracting automotive market as a result of the downturn in the world economy, and in light of the intense global competition that Toyota faces, Toyota is working to create an agile corporate structure that can react to short-term changes in demand and further reduce inefficiency. Toyota is also implementing reforms aiming to establish a solid yet flexible corporate structure capable of attaining steady growth in the medium to long term. To carry out these reforms, Toyota will step up its efforts in accordance with the following agenda:

Strengthen customer-orientation of products through increased attention to the requests and demands of customers in each country and region, based on Genchi Genbutsu ("going to the source") principle, to provide attractive high-quality products at a lower price and to respond to changing customer needs.

Further promote commercialization of next-generation environmental, energy and safety technologies.

Create a structure for efficient development, production and sales that can respond flexibly to changes in the external environment.

Toyota is working to enhance its corporate value as a company while maintaining growth in harmony with society, through the foregoing agenda and through underscoring its fundamental principles of "Customer First," "Genchi Genbutsu," and "Continuous Improvement." These principles are the cornerstones of Toyota's growth, and are key to Toyota's responding flexibly and promptly to the changes in the market environment. Toyota plans to fulfill its social responsibilities by carrying out its corporate social responsibility through philanthropic activities undertaken through corporate ethics, including full compliance with applicable laws and regulations.

Toyota aims to strive for better quality to advance growth and build on the related foundations, and provide attractive products responding to consumer preferences in all regions at a lower price. Key elements of this strategy include models in the following categories:

Global Models (IMV, Vitz/Yaris, Camry and Corolla/Auris).

Under the concept of "Global Best, Local Best," Toyota aims to develop, manufacture and distribute attractive products that satisfy regional characteristics and demand while using common platforms and core parts and components. In fiscal 2009, Toyota sold about 2.9 million units of Global Models worldwide. Global Models accounted for approximately 40% of its global sales in fiscal 2009.

Models Targeted to Resource-rich



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