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N877 Toyota Motor Corporation

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Running head: TOYOTA MOTOR CORPORATION 1
Toyota Motor Corporation
Institution Affiliation
Date

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TOYOTA MOTOR CORPORATION 2
Introduction
Toyota Motor Corporation (TMC) is one of the most competitive automobile
manufacturers in the world. The company was incorporated in 1937 by Kiichiro Toyoda, and
since then, it has shown a gradual growth up to date. The companies headquarter situated in
Toyota city in Japan. Ajanovic (2015) outlines that TMC manufactures and sells over 10 million
vehicles worldwide every year. The company’s successes are traced to its strategic alliance with
American Auto manufacturers. Through these strategic alliances, the company managed to
improve the quality of its cars and minimize costs at the same time. The company introduced the
Toyota production system, which helped transform a small and local-based company into a
global leader automobile manufacturer.
The company took advantage of the growing Japanese economy in the 1960s, where it
manufactured and sold middle-class cars like the Toyota corolla. Since then, the company has
become the world’s all-time bestselling car. The booming economy facilitated the company to
expand internationally, allowing it to become the largest company in Japan and the leading seller
automobile company in the world. The company was ranked as the 9
th
leading company by
revenue across the globe in 2020. The company received positive comments and
recommendations from the public after ushering a more fuel-efficient hybrid electric vehicles in
1997, which signified a tremendous shift from ordinary fuel consumers to more efficient
vehicles. For a company to compete successfully and survive in the current highly competitive
environment, it needs to begin manufacturing electric cars.
Problem statement
In 2020, Toyota company sold more than 1.95 million hybrid electric vehicles. Since the
1990s, the company has become the driving force for electric hybrid automobiles. Toyota Prius

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Running head: TOYOTA MOTOR CORPORATION Toyota Motor Corporation Institution Affiliation Date 1 TOYOTA MOTOR CORPORATION 2 Introduction Toyota Motor Corporation (TMC) is one of the most competitive automobile manufacturers in the world. The company was incorporated in 1937 by Kiichiro Toyoda, and since then, it has shown a gradual growth up to date. The companies headquarter situated in Toyota city in Japan. Ajanovic (2015) outlines that TMC manufactures and sells over 10 million vehicles worldwide every year. The company’s successes are traced to its strategic alliance with American Auto manufacturers. Through these strategic alliances, the company managed to improve the quality of its cars and minimize costs at the same time. The company introduced the Toyota production system, which helped transform a small and local-based company into a global leader automobile manufacturer. The company took advantage of the growing Japanese economy in the 1960s, where it manufactured and sold middle-class cars like the Toyota corolla. Since then, the company has become the world’s all-time bestselling car. The booming economy facilitated the company to expand internationally, allowing it to become the largest company in Japan and the leading seller automobile company in the world. The company was ranked as the 9th leading company by revenue across the globe in 2020. The company received positive comments and recommendations from the public after ushering a more fuel-efficient hy ...
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