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Finance & Accounting
Pages 25 (6275 words)
Toyota PR Crisis Review Table of Contents Toyota PR Crisis Review 1 Table of Contents 2 Abstract 4 Introduction 4 About the Organization 5 Phase 1 6 Issues & Strategies 6 Best possible Strategies 8 Phase 2 11 Issues & Strategies 11 Best possible Strategies 13 Phase 3 16 Issues and Strategies 16 Best possible Strategies 18 Phase 4 21 Issues and Strategies 21 Best Possible Strategies 22 Conclusion 22 References 25 Abstract The importance of communication has increased manifold in the present day business environment.
The case chosen for the study has been that of Toyota Motors Corporation which was hit badly by a spate of unprecedented issues regarding the aspect of communications with regards to a manufacturing defect in the product and the strategies adopted by the firm to address the issue. The study would analyze how an organization can use a crisis situation and effectively handle it out to extract benefits out of a negative situation. The study would consider the various theories related to the aspect of communications in crisis management and would also discuss how an effective handling of the issue can lead to prospective advantage of the organization. Various theoretical models would be used to analyze the shortcomings in the actual strategy of the firm. It would suggest better possible strategies that could have been adopted by the organization so as to generate loyalty among the existing and prospective customers. Introduction Communications form a vital aspect in the business prospects of an organization. Communications can be both internal as well as external. ...
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