Fame is essentials need to a company because it attracts consumers to buy their automobile and noticeable around the world.
Toyota Corporation create using reliable car as a way to attach famous. Toyota create reliable cars by taking time on their new functions, functions over form, and good precise craftsmanship on the vehicles in general. Toyota takes time on their new functions because they want to get the best on the cars and let the other company find the new function's problems so then they will get the best of the functions and to their customers. Toyota like functions over form because the automobiles that Toyota is making have functions like comfort, and well handle and safety and more small improvement of the vehicle which result in very safe and reliable but it makes all the automobiles in their range very similar with result in similar forms. The Toyota's craftsmanship is the last and most important part of the reliability because Japanese overall crafts things like their tradition Japanese samurai sword they crafts with quality and care and same goes with Toyota they are willing to craft thing that is with best quality and care like small detail and functions.
Toyota Corporation start using races as a way to get Famous and recognitions around the world by join races like Formula Nippon, World Rally Championships and even 24 Le Mans. Which people that liked about automobile races start recognize their company inside Japan because and outside in the world. They began in 1957 Fifth Round Mobilgas Rally race, which Toyota was the first Japanese automobile company ever joined. Which car enthusiasts watches as the first Japanese car ever raced on that track on TV (both in Japan and outside of Japan).
Toyota
Unit 4: Entrepreneurship and Business Ethics
Innovation and Inventions
Toyota Corporation invention of technology like the E-four, Vehicle Dynamics Integrated Management, Multi Stage Hybrid System, and AHS system, and toyota lexus dynamic handling. The E-four is electrical four wheel drive for hybrid vehicles four wheel drive. The front wheel directly power by the drive train and rear is power by electric motor that is control by electric control unit. The Vehicle Dynamics Integrated Management is an computer traction control, electronic stability control and system integrated together with more responsive to the drivers output. The Multi Stage Hybrid System is improve of the regular hybrid system. The AHS system is the new style of light system which change the headlight when in speed and an head traffics and people. The lexus dynamic system is improving system on handing
Toyota Innovation is created expanding markets, new partnership, and product with purpose. The expanding market is expanding the size of Toyota market to almost to every single concern of the world. The new partnership is working with and partnership like SoftBank to create a better company and for the customer innovation. The product with purpose is to help a the customer life like transport a person to a place.
Characteristics/Skills of Entrepreneurs
Toyota Corporation's entrepreneurs have the skills of risk takers, perceptive, imaginative, hardworking, flexable, goal-setting, independent, and relationship skill. Toyota first entrepreneur Kiichiro Toyoda that start the Toyota company, after the war, took the risk by start the racing division to bring fame to the company so they can sell more automobiles to save the company from bankrupt. Which shows risk taker and independent. Kiichiro Toyoda father was 14-15, he sees the hard living that his mom worked on sewing to make money, he saw it was a opportunity to create a sewing machine for people like her mother, and he sets his goal to create this sewing machine company which later evolved to the Toyota Corporation today. After the war, Kiichiro Toyoda imaginative created and design the first passenger car nick named Toyopet. Kiichiro Toyoda is a hardworking man which create the Toyota Corporation today. The Toyota today relationship with employee with good relationship and can even voice their concern and flexible with employee works, good relationship with their suppler and can offer continue with cheaper price supplies, and good relationship with customer can result in continue sales.
Unit 3 Finance
Type of Investment
Saving/investing
Toyota have investments in several companies shares, Toyota Corporation have invested in Aisin Seiki Company with owning 22.7%, Tokai Rika Company with owning 31.2%, Yamaha Motor Company with owning 3.57%, Kansai Paint Company with owning 3.06%, Aisan Industry Company with owning 28.7%, Nomura holding Inc with owning 0.47%, Japan Airlines company with owning 0.55%, Daido Steel company with owning 2%, Mitsui High-tech Inc with owning 2.37%, and Sanoh Industrial Company with owning 4.04%.
Toyota Company has competitors like VW, Hyundai, GM, FCA, Tesla, and Nissan. Toyota Company is able to beat these competitors by giving them the lower price cars, better customer services, more models to offer to the customers, having quicker productions and more.
Unit 2: Functions of Business
Financial Statements
4Ps and 2Cs of Marketing
Competition is businesses compete against each other
Customer is the business that need to making relationship with
Toyota company makes a good relationship with customer by offer the best deals and letting the customer voice their problem to Toyota companies and even letting customers voice the returns of certain models of the vehicles that they wanted the return of.
Promotion is a special discount to customer by business
Toyota Company in Canada gives promotions on 2020 Corolla XSE CVT, 2020 Corolla Hatchback XSE CVT, 2019 Prius Technology AWDe, 2019 Camry LE, 2019 Highlander Limited V6 AWD, with Finance from 0.49%, and more.
Price is the business products price
Toyota Company models in Canada, 86 cost $30,150, GR Supra cost $67,690, Yaris cost $16,790, Prius cost $28,550, Prius Prime cost $32,990, Corolla hatchback cost $21,050, Corolla cost $18,990, Camry cost $26,620, Avalon cost $42,690, C-HR cost $23,650, RAV4 cost $28,090, Highlander $39,990, 4Runner cost $48,120, Sequoia cost $63,290, Sienna cost $35,750, Tacoma cost $37,450, Tundra cost $40,650.
Place is their the business located
Toyota Company in Canada has 247 dealerships in Canada. These dealership are mostly in most populated areas like Windsor corridor and near the US borders and some dealerships are in the more Rural place like in Yukon.
Product is what the business offers that people wants
The Toyota company offers in Canada a wide range of model from cheapest yaris to the expensive GR Supra. The cars range offers sport cars models 86 and GR Supra, hatchbacks models include Yaris and Corolla, Hybrids models include Prius and Prius prime, and Sedan models include Corolla, Camry, and Avalon. The SUV range include C-HR, RAV4, Highlander, 4Runner, Sequoia. The Minivan include Sienna. Truck include Tacoma and Tundra.
Form of Media/Promotional vehicles
Product Life Cycle
Toyota's product life cycle have four stage introduction, growth, maturity, and decline. Toyota product for example land cruiser, which introduced in 1951 as a offload military Jeep for Japan that is similar American MB Willy Jeep. Later it began to turn to civilian Jeep. The growth began in 1960s with the J40 model which is very popular. When later is spit into J70 and J80, one is traditional and one is modern SUV. Which is maturity at the high of Toyota's model Land Cruiser. Today it started decline largely. That they even plan to discount in 2022.
Leadership Style
Toyota corporation's leadership style is democratic leadership for the most of the part. In review for Top Employees it wrote that employees can provide feedback and concern of their mangers. The employees provide a survey everyone 12 month on their company. This ways it shown that employees voice can be hear off like concerns. There are times like emergency time is different, which during CODVID 19 they layoff people of the company which didn't even get their voices to the workers.
Functions of Management
Controlling is to control the company to maintained achieving the goal
Leading is a leader lead the company to achieve their goal
Organizing is arrange people and task to carry out business plan.
Toyota corporation organizing arranging the task like the development of the working everything to get the aspect to achieve the goal of the task like the recreation of the Toyota Supra which they work with
Planning is process of a company short-term and long term goals and decide how achieve them.
Toyota long term goals is that the Zero life cycle of CO2 produced from their vehicles. This will help create a sustainable world, eliminated deaths from accident, and improve transportation efficiency. They plan to move social infrastructure and Evolution through car, and moving away the past.
Production Process
Toyota production process started of using rare material of aluminum roll and steel roll. Then cut the the rolls into sheet of metals. After turning them into sheet, then use machine to press them into steel, then cut into the need shape. Cut shape of sheet metal use machine presser to press the cut shape of metal into shape of vehicle part's parts. Then weld the vehicle part's parts to vehicle parts like chassises, doors, hoods, and trucks. These vehicles parts then sent to the paint shop when they use machine sprayer spray the primer coat on the vehicle parts. Then spray the secondary coat of paint on, after that polish the painted vehicle parts. Then the assembly of engine and dashboard, seats and other transmissions and others small components. Then assemble the base of vehicle use engine transmissions. Then the marriage of the chassis and the base, after that assemble the seats, light, dashboard, truck, hood, truck, bumper, wheels. Then pefection check of the vehicle and sent the vehicle into test of acceleration and water leak test and finally a last check.
Unit 1: Business Fundamentals
Imports/Exports
Exports are shipping goods out of your country. Imports are goods ship from foreign country to yours
Toyota exports vehicle from mid-1950s to even today. Toyota had exported over 1,600,000 units of just automobile of a year. In the 1960s, it grow rapidly on the exports and popularity of the vehicle. In 1970s the demand of the vehicle has declined due to the oil crisis. In 1980s the popularity and demand has slowly regained, but later the trade war between Japan and US result factory moving oversea. During the 1990s to mid- 2000s it slowly regain, but later in 2007 it declined again due to global recessions.
5Ps of International Business
Promotion is a good from a company that they tries to show to the customer
Toyota Company have promotion as commercial or as their ad all over internet and social media even they have a count in these social medias where they introduce new models, features, quality of their promoted and even feature of their vehicles. The Toyota dealer and factories promotes by giving customer no interest fees need and they can just drive the car out of the dealerships without even paying any money at all.
Preference is people prefer foreign goods over domestic goods.
The people in China prefer Japanese made Toyota rather than there domestic cars. Chinese overall isn't a huge fan of Japanese Toyotas when comparing to German brands but when it comes to domestic brands it is very different because in Chinese after the 1970s democracy reform by Deng Xiaoping result in people become richer and China at that time did not even start making any cars for civilian but only for the Leader, so people turn to foreign cars. They mostly turn to Russian cars like Gaz, Volga, and moskvich. Later in 1990s the Hong Kong join in China, which they first interact with western cars and seeing luxury Mercedes and BMWs which got them into these imported goods so later Japanese cars like Toyota makes people prefer these foreign cars over other cars.
Price is cost of a product varies one country another
The prices of Toyotas in different place like in Canada and China is the price is different like in the model 86. In Canada it cost 30,150 CAD and 279,000 Yuan in China. Which is 53516.26 CAD. This is because The reasons are that they have to import tax and certain taxes like the purchasing tax, other taxes add and they don't produce this model of Toyota in China and it only produce in North America. In Canada it doesn't doesn't include as many taxes as China and Canada produce it. Which resulted the 86 is more expensive in China then Canada.
Product is a country resource determined good it make
The product of automobiles is the resource of hard working people. In the home country of Japan people are very hard working. These people preferred quality and precision over money, which results in reliable automobiles and successful auto manufactures like Toyota.
International Business (Pros/Cons)
International Business for Toyota cons are that different regulation across the world, different demands, and taxes. The different regulation for Toyota like certain cars must have color lens and not color light bulb. The different demand for Toyota, in places like China which people care about the leg room very much and overall Toyota isn't a popular as Mercedes and others large vehicles. The taxes is a major problem too because Toyota and foreign automaker no matter how to get around the tax issue is unavoidable so a low classed car is cost to a higher cost of a car.
International Business for Toyota pros are that they can reach new consumer in the world outside of Japan, which open them to huge amount of fame and massive amount of larger market and even lowering the cost of the automobiles in the foreign country. The pros for money wise it can create newer technique and functions, foreign investors join in, and confidence of customer willing to buy. Which can result new technique which is cheaper, more people willing to invest in this company and more customer trust this company and willing to buy from it again.
Types of Businesses (TOBO)
Toyota is a public corporation. This is because Toyota corporation's small amount of the corporation are owned by Toyoda family. The CEO of Toyota, Akio Toyoda owns just 0.1% of the corporation what is the his grandfather founded. He buys more stocks every year. This means that 99.9% of the corporation's stock are for public.
International Business Structures
Toyota has a international business structure of by region of the world 43.5% are export to North America, Europe 13%, Asia 20%, rest of the world 23.5%.
Needs/Wants
Wants are something that isn't necessary for a company to survive, but more a desire that company withed to have.
Needs are something is essentials to make a company survive on it's own.
Consumers are essential need because the company need people to pay to gain money
Working Capital is an important to create a company because working capital can able to create certain project that cost large amount of money to increase the company size or maintain the company.
Working Capital for a company that requires consumers willing to buy your cars.
Type of Resources
Capital Resource are the buildings, tools, equipments, trucks required.
Toyota Corporation has over 67 factories around the world and 5 of the factory are with the region headquaters. These factory have tools and equipments over huge amount and they even have their own transport company of their business.
Natural Resource are resource from the nature that use in company from their products
The natural resources that Toyota Company use are steel, aluminum, petroleum, leather, iron, rubber, glass, and special fibers. The steel comes from steel ore and they are the majority of the a cars. The steel on average use 900 Kilo per car. The alumnium is an second major material that is being use in cars because of it lightweight feature and flexible nature become an import part of an car with the use of 466 pound per car on average. The petroleum is a nature resource for making plastic and plastic lately because popular to rival steel and aluminum because of it cheap production and on average 151 kilo of plastic is use on cars and Toyota company use mostly recycled plastic for more greener take on the environment. The leather is use for the seat of the car and the leather usage has decrease rapidly due to the special chemical fiber to make the car more comfort and cheaper. The iron is a base of chassis for more strength and safe, but lately has been replace buy aluminum and plastic because of it cost and it weight. The rubber is use for soft and comfort dashes and door seals which they use for leakage stopper. The many component in the engine like hose and belts because of the material's better seal and space changes. The glass on the cars has been increase over the year due the demand of more sunlight like glass sunroof and the increase size of the windows over the cars. The special rubber are made by chemicals which they use it because of the better feel and cheaper than the price of leather and give an luxury feel to it. These resources sound like a lot so they rather get them from supplier as rare materials.
Human Resource are the people who create produce and services
Toyota Corporation create human resources like factory assembly line works, people in the sales department,, designer, and more . The factory assembly line worker create the automobiles, the sale department can sell the automobiles to the people, and mechanics can service vehicle in the dealer, the designer can design the vehicles for Toyota.
