You got the job! You have been appointed the director of strategic planning for the Fortune Global 500 company you selected in Module One (Toyota Motor Corp). They were impressed with your detailed ba

You got the job! You have been appointed the director of strategic planning for the Fortune Global 500 company you selected in Module One (Toyota Motor Corp). They were impressed with your detailed ba
Running Header: TOYOTA MOTOR CORP. Company Research ad Selection: Toyota Motor Corp Name University MBA 540: Organizational Strategy in a Global Environment Dr. Auberry June 12, 2022 Companies transact with the main aim of maximizing profit. Toyota Motor Corp is no exception. However, the unique feature about is that is prioritizes it customers. All its endeavors are aimed at making the customers satisfied. It is something that the company does by collecting data from their clients on their taste and preference and producing a product that best suit their needs. The company has a mission of manufacturing reliable vehicles that are sustainable in the society through innovation. The ever-changing innovation and customers’ taste and preference makes the company to produce motor vehicles of high-quality and services ever year (Nkomo, 2019). Besides, the products that they produce are pocket friendly and affordable to all their consumers worldwide. It is this that makes the company to have a broad customer base and ready markets globally. Research has it that the company also have philosophy that is based on continuous improvements which it believes in. The company was founded in 1937 to manufacture automobiles. The principle of the company is customer first, meaning that all their activities and operations are geared towards impressing the customers. Toyota Motor Corp is a motor company that has its headquarters in Aichi which is a city in Japan known for the manufacture and assembling of the Toyota automobiles. The company prioritizes its customers, and this makes it unique and among the companies that have a high customer base worldwide (Bhattacheryay, 2021). It is this huge customer base that makes the company to have both individual and company-based customers. It serves both of its customers based on what they want by curtailing the products that they request and need. It means that individual customers who envision and design a unique product can move to the company and present their ideas and design then the company can produce and then appreciate them for the design if they aspire to use it further. Similarly, companies can also do the same to have their motor vehicles designed with their names and designs. The open-door policy that the company uses has made it to have a fantastic outreach globally. Risks are inevitable and how companies try to avoid and handle them is what matters. Several companies have closed up because of poor planning and managements of risks and uncertainties. Toyota Motor Corp is not exception, when there was a pandemic outbreak in 2019 it was affected. The company was affected mainly in three ways. One, it experienced low sales since most of the consumers were affected and very few of them were making purchases. Secondly, its workers were laid off as the company’s doors remained closed. However, worker turnover and layoffs never affected the company so much being that the company had earlier automated most of its operations and now manufacturing and assembling is done by machines and robots (Wang, 2021). The third challenge that the company is likely to face in the future is stiff competition. Customers’ taste and preference keeps changing and this would compel some of them to move to more luxurious automobile companies like Ferrari, Mercedes Benz, Audi and BMW among other. Stiff completion therefore remains one of the future challenges that the company will have to face. Competition is a major challenge since it would make the company to lose its market share to its fellow competitor or another company that would come in the market. It would make sales to decline greatly. Alternatively, being in a technological world makes technological advancement to be a major challenge that needs to be checked by Toyota Corp in the future. Technological advancement can make the company to lose some of its customers and market share to the competitors. Future companies that develop technologically advanced products might topple them out of the markets. The company therefore needs to be vigilant and invest heavily on technology and innovations. Reference Bhattacheryay, S. (2021). Multinational working capital management a study on Toyota Motor Corporation. International Journal of Finance & Economics. Nkomo, T. (2019). Analysis of Toyota Motor Corporation. Wang, Z. (2021). Exploring the potential of lean philosophy to spread the value of sustainability in the Japanese automobile industry: the case of Toyota Motor Corporation. Управління розвитком складних систем, (45), 176-181.