This is a steam car invented in Belgium. Since then, the functioning and use of a car has changed completely. It has become an integral part of our lives and after almost 300 years, we have become extremely dependent on it…
One of these companies is Toyota Motor Corporation, commonly known as Toyota. This is a multinational corporation with its headquarters in Japan. Toyota has factories in most parts of the world which makes it one of the world’s largest automaker (Toyota, 2010).
The cars manufactured by Toyota were considered the best until the series of accidents that were caused by the cars’ design. Some say that the issue was not very serious and it was unnecessarily amplified by its competitors over the media. Very recently, several vehicles faced the problem of the accelerator pedal getting stuck which caused unintended acceleration and hence many accidents. As a corrective measure, Toyota has decided to recall its sold cars and fix them (Reed, P., 2010). According to a source, by January 28, 2010, Toyota had announced recalls of about 5.2 million cars for the pedal entrapment/floor mat problem, and an additional 2.3 million cars for the accelerator pedal problem. Out of these, almost 1.7 million cars have both these problems (Toyota Press Release, 2010). In addition to this, it cut down on its production to a great extent as well. Other companies that have faced the same problems include Honda, Ford, etc. However, the problem faced by these organizations did not affect their image and financial condition at the same scale as Toyota.
Now when we talk about this incident and Toyota’s reaction of recalling the cars that were potentially damaged, people often take two different sides. Some say that the Toyota recall was a good idea while some disagree. It is very important that all aspects of this issue are discussed so that we can understand the strategy better from all angles. Therefore, in this paper, we will discuss both sides of the argument in the coming paragraphs, firstly discussing the arguments for the Toyota recall.
The Toyota recall is believed to be the best thing for everyone. We noted in the ...
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This paper examines the operational issues that relates to the Toyota mass recall. It is a proposal on how to diagnose the problems that led to the manufacture of defective cars. The proposal examines the quality control systems, the unusual events that led to the defects and analyses the scope of the problem.
Toyota Economic and Recall Crisis Name Institutional Affiliation Abstract Toyota Motor Corporation is one of the world`s largest and most preferred automobile manufacturers. It also is a leading advocate eco-friendly and technological cars. The company was established in 1937 by Kiichiro Toyoda.
The exploration done in the case allows the reader to derive several important lessons pertaining to leadership and management, crisis management and public relations for large corporations. It is noteworthy that the crisis the company went through did not do damage which the company was not able to recover from eventually.
ormance, pricing, positioning and satisfaction. 42% of the individuals rated Toyota on its performance, 30% rated Toyota different from others on the basis of pricing, 10% rated it on its positioning and rest rated Toyota on the basis of satisfaction level.
There are several reasons behind this intensifying competition. Firstly, globalisation is one of the primary reasons for expansion of trade and business that lead to increase competition. Many business organisations have found greater opportunities in overseas market, and free trade policies and agreements between multiple countries facilitated their market expansion programs (Hitt et al 2009).
The level of industry competition, both globally and locally, and the resources available for the realization of organizational goals can affect the performance of organizations either in the short or the long term. Moreover, it seems that firms that are well established in the international market are more capable of facing market challenges and of retrieving solutions in case of severe organizational problems.
This is found to be most critical problem for the company at present. The company’s sales, brand image and consumer confidence have been significantly affected by such massive recall. There are several possible solutions to this problem. First of all the company
The exaggerated report about the recall is a means to tarnish the image of the company and distract the public from other important business matters concerning Ford or GM (Jung 2010).
The fundamental lacking on part of the
The monolithic approach is characterized by many sub-brands all being linked to one single corporate brand. The firm has other major brands, which are principally Lexus, Prius and Scion. While these lesser brands themselves
Toyota has managed to survive several crises in its sixty years of operation. As Toyota Motor Corporation President Akio Toyoda famously said “Toyota has been hit by a crisis about once every ten years," Toyoda said, "but
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