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Strategies of General Motors and Toyota Motor Corporation
Pages 5 (1255 words)
The global car industry is becoming a more competitive market as players continue to improve their operations in order to battle for larger shares. An essential feature of the more intense rivalry among competitors is their creation and implementation of different strategies in order to pursue their goals and objectives…
Strategies are usually tailored to take advantage of the various opportunities in the firm's environment while harnessing its strengths and competencies.
Currently, General Motors Corporation (GM) leads the automotive industry with total revenue of US$192.60 billion during 2005. This is amidst the US$2.6 billion loses incurred during the same year which is due to the weak demand in the North America. Following GM is Ford Motor Corporation (US$178.10 billion), Daimler Chrysler AG (US$177.37billion), and Toyota Motor Corporation (US$162.92 billion). Even though smaller in terms of revenue, it is notable that Toyota recorded the largest net income at US$10.61 billion during 2005 (Yahoo Finance 2006).
It is apparent that there is an intense competition between the four largest players in the industry. Toyota was able to dislodge the Ford during 2003 and is widely regarded to as having the aspirations to become the future industry leader next to GM. From here, we can see a struggle between the companies as they are both challenged to devise winning strategies. For GM, the challenge is to craft and implement an efficient strategy to maintain its position in the global market, while for Toyota a strategy to battle head-on with GM and increasing its market share.
General Motors Corporation is involved in the design, manuf ...
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