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Graves Enterprise Essay

4730 words - 19 pages

KELLER GRADUATE SCHOOL OF MANAGEMENT

Group Class Project
Toyota

Group II

Class: GM 591
Instructor: Gerardo H. Chaljub

Executive Summary

Toyota Motor Corporation is a multinational corporation headquartered in Japan and is the world's largest automaker. As of 2008, Toyota employs approximately 316,000 people around the world. In 1934, while still a department of Toyota Industries, it created its first product Type A engine and in 1936 its first passenger car the Toyota AA. The company was eventually founded by Kiichiro Toyoda in 1937 as a spin-off from his father's company Toyota Industries to create automobiles. Toyota currently owns and operates Lexus and Scion brands and ...view middle of the document...

, Ltd. is established
1938-Honsha Plant begins production
1950-Company faces a financial crisis; Toyota Motor Sales Co., Ltd. is established
1951-Suggestion System is begun
1955-The Toyopet Crown, Toyopet Master and Crown Deluxe are launched
1957-The first prototypes of the Crown are exported to the USA Toyota Motor Sales U.S.A., Inc. is established
1959-Motomachi Plant begins production
1962-Joint Declaration of Labor and Management is signed
1965-Toyota wins the Deming Application Prize for quality control
1966-The Corolla is launched Business tie-up with Hino Motors Ltd. begins
1967-Business tie-up with Daihatsu Motor Co., Ltd. begins
1974-Toyota Foundation is established
1975-The prefabricated housing business begins
1982-Toyota Motor Co., Ltd. and Toyota Motor Sales Co., Ltd. are merged into Toyota Motor Corporation
1984-Joint venture with GM (NUMMI) begins production in the USA
1988-Toyota Motor Manufacturing, USA, Inc. (present TMMK) begins production
1989-The Lexus brand is launched in the USA
1992-Toyota Motor Manufacturing (UK) Ltd. begins production
1997-The Prius is launched as the world first mass-produced hybrid car
1999-Cumulative domestic production reaches 100 million vehicles
2000-Sichuan Toyota Motor Co., Ltd. begins production in China
2001-Toyota Motor Manufacturing France S.A.S. begins production in France
2002-Toyota enters Formula One World Championship Tianjin Toyota Motor Co., Ltd. begins production in China
2004-The Toyota Partner Robot is publicly unveiled
2005-The Lexus brand is introduced in Japan
2008-Worldwide Prius sales top 1-million mark
“The New Global Business Plan”: 1995 and Beyond
Hiroshi Okuda aimed to revitalize Toyota’s standing in the global marketplace in 1995. In June he unveiled Toyota’s New Global Business Plan, which placed renewed focus on innovation and international expansion. Okuda’s targets were clearly defined: to raise production to six million vehicles a year; to increase Toyota’s international market share to 10 percent; and to increase its share of the domestic market to 40 percent. He believed the first two goals would be achieved through the construction of new manufacturing plants in foreign markets, along with an increased emphasis on the “localization” of parts production to reduce the time and expense involved with shipping components across great distances. By widening the scope of operations in Toyota’s overseas locations, Okuda envisioned a more streamlined, cost-effective manufacturing process. Furthermore, the stimulation of local economies was an effective public relations tool, enhancing the value of the Toyota brand name in foreign markets.
In 1995 Toyota announced its intention to set up a manufacturing operation in Indiana, in the hope of becoming a major participant in North America’s highly competitive large truck market. In 1997 the company opened new plants in Canada and India, and in December it announced plans to build a second European...

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