Risk management Assignment Example | Topics and Well Written Essays - 2500 words

Risk management - Assignment Example Integrating risk assessment in every process at the organization improves the quality of decisions made in avoiding losses and eliminating uncertainties. The approach taken in risk management proposes that organizational processes and decisions adopt a thorough implementation of projected objectives. It therefore implies that risk management principles facilitate the integration of every level of coordination of organizational operations and functionalities. Inclusiveness of every organizational need in the success definition elevates the management of the organization to a vintage point enabling tackling of all challenges. Reliance on the latest form of information and of the best available quality enables the risk management concept an important organization development strategy since it enables anticipation and understanding. Accountability to the human society and every vital stakeholder in the projects under the organization ensures that the organization development is in tandem with the aspirations of the stakeholders and to whom accountability is expected. In a precise description, risk management enables the organization to handle all tasks in a responsible manner, cognizance of internal and external demands on the industry. The main principles as set out in Risk Management Standard AS/NZS ISO 31000 are briefly highlighted below. It is in order to state that risk management creates and protects value. Without risk management, the organization would encounter losses through various avenues including legal, security, and human health. When the organization applies risk management, it takes adequate measures to ensure that its objectives are achieved and losses minimized. Risk management is an important part of the organization’s activities and should be considered by all stakeholders in view of all processes. Without taking risk into account, decision makers would make choices without regard to important priorities. In view of risk management, mana gers and other decision makers cautiously undertake various activities and analyse various options before making choices. Uncertainty is one factor that risk management seeks to explicitly address. This is so considering that many threats and risks that a business encounters come unexpectedly and may bring massive losses to the organization. When risk management is done, the losses that may come with risks are minimized. The effectiveness of risk management depends on how it is done. When properly structured, and systematically and timely done, the results of the process are better compared to when otherwise done. Also, effective risk management involves the analysis of threats and risks based on available data and using the information available to predict possible outcomes of situations and their probabilities. However, in some cases, data is limited and decision makers have to stretch their minds in their risk management efforts. Risk management is not a standard procedure but de pends much on the internal and external environments of an organization. This means that the risk management activities of one organization may not effectively apply for another business. In addition, cultural and human factors must be taken into account if effective risk management has to be done. This is so considering that people working for the organization or those external to the organization can affect the business’

Television Advertisements Research Paper Example | Topics and Well Written Essays - 750 words

Television Advertisements - Research Paper Example The paper realizes the prevalence of such behavior and in that acts as a measure to find a solution to the previously answered problem. The research question seeks to address the issue on a producer’s and a television company perspective. It aims to ensure that the involved stakeholders understand their social responsibility in protecting the children by developing relevant measures to combat the adverse effects on the children. The question relates to the significant problem of the various impacts of TV advertisements on children but adopts a different approach from the previous studies. This discussion declares that  the concern will not be a regulation by the prevailing regulative bodies, but an undertaking by advertisement houses and television companies meant to limit the effects of these ads on the children. The answer would work towards improving the overall health of the American population since there will be reduced cases of obesity and smoking among the children. Obesity and smoking are some of the primary causes of heart-related diseases and lung cancer in the United States and other areas in the world. Eliminating the negative influence of TV ads on the children will create a direct effect on the reduction in the prevalence rate of the associated diseases such as lung cancer and heart diseases.  The outcome can be included in the commercial television industry code of practice that will ensure the children are not influenced negatively by the ads and that parents are assured of their children’s safety.

Comparison Papper Malcom x vs William Shakespeare Essay

Comparison Papper Malcom x vs William Shakespeare - Essay Example Both assailed calumny or manipulation which in Shakespeare’s speech from Brutus justified his murder and villainy by alleging that he killed Caesar because he is ambitious and that Rome he is better off with Caesar dead. This was in the passage; In Malcom X’s speech however, this came from the gerrymandering of white (caucasian) politicians that when Negroes became concentrated in one area that is enough to become a political power, the political subdivisions are changed to disenfranchise the Negro. All sorts of effort were done to â€Å"con† and undermine the negro’s right to vote as exegete it saying as â€Å"senators and congressmen standing up filibustering and doing all other kinds of trickery to keep the Negro from being able to vote†. Both speakers were also addressing an undiscerning and unsophisticated crowd. In Malcolm X, the speech referred to the Negroes â€Å"dumb vote, your ignorant vote, your wasted vote put in an administration in Washington, D.C., that has seen fit to pass every kind of legislation imaginable† while in Shakespeare, both Brutus and Anthony were addressing a mob who would agree to whatever they will say until Anthony won them over with a speech that effectively refuted Brutus speech that Caesar has to be killed because of his ambition; Both also justified violence or murder as a political solution. Albeit Brutus was more brutal because he personally slew Caesar under a shady motive even if Caesar is his close friend. Worst, he made it appear as if Caesar deserved it and his death is good for Rome by saying â€Å"Not that I loved Caesar less, but that I loved Rome more. Had you rather Caesar were living and die all slaves, than that Caesar were dead, to live all free men?† Malcolm X speech however was replete of justification why it has to come to ballots or bullets. He argues that the eyes of the negroes are already open and his consciousness is already alive and he will

Annotated bibliography Example | Topics and Well Written Essays - 500 words - 14

Annotated Bibliography Example g amongst others, this journal article gives specific examples to justify how gender equality paves way to not only enabling a highly effective workplace, but also towards enabling diversity and acceptance of the other sex in all walks of life. This journal article also gives various examples from history and religion to prove the fact that gender equality has always been looked forward to rather than gender inequality. Moreover, this journal article sheds light on studies published by various academic professors whose focus is on gender equality. Various researches carried out by numerous professors have also pointed out that an environment which readily accepts both genders as being equal is more likely to succeed going forward, and also stay ahead in the long run in comparison to a society that gives specific weightage to a gender over the other. Therefore, I believe this source is highly essential to my paper. The Tennessee Journal of Race, Gender and Social Justice, as it names tells is published in the American area of Tennessee. This journal deals with article related to racial and gender inequality, along with cases which hint where exactly America stands today as far as gender equality is concerned. This article is highly essential for my paper because it specially focuses on gender equality based cases in the US post 9/11. Moreover, the publication also sheds light on how different genders have different voting rights that differ from each other. The journal also brings into limelight hiring policies of American companies and how they discriminate based on gender. This book is also essential to my research paper as it supports each and every topic with various examples, thereby making it easy to understand why gender inequality is such big an issue and why and what causes it in the first

Tone Analysis of Poems Essay Example | Topics and Well Written Essays - 750 words - 23

Tone Analysis of Poems - Essay Example The two poems taken for discussion are Phillis Wheatley’s On Being Brought from Africa to America and William Blake’s The Chimney Sweeper. The analysis of these two poems is done by identifying the tone of voice in each of the poems by concentrating on the specific words that the poet chooses to set the mood of the poem and to express his/her attitude regarding the subject. Phillis Wheatley’s On Being Brought from Africa to America addresses the society’s prejudices about perceiving the notion of race, religion, and identity. The poem is written in a satirical tone, expressing the poet’s mixed attitudes of gratefulness and resentment towards the society. Wheatley starts the poem with a grateful attitude from her personal experiences of Christian salvation and enlightenment of soul; nevertheless, she abruptly turns the poem’s tone into a satirical one, condemning the cultural norms of racism. The poem’s ironic tone can be seen in her personification of ‘mercy’ as a kind owner or Savior who had brought her from the Pagan land. The poet posits a plosive style in using the word ‘Pagan land’ to depict the land as a place of benighted souls. Similarly, she uses words like ‘benighted soul’, ‘sable race’, ‘scornful eye’, and ‘diabolic die’ to portray the society’s dark impression of black people and their land. The poet also expresses a sarcastic tone by comparing slavery and redemption as a grateful act of her oppressors. â€Å"Taught my benighted soul to understand That there's a God, that there's a Saviour too: Once I redemption neither sought nor knew.† The word choices like â€Å"Pagan†, â€Å"Saviour†, â€Å"Christians†, and â€Å"Cain† are allusions to biblical scriptures, providing theological implications to the subject matter of racism. The usage of biblical simile, â€Å"Black as Cain† depicts the association of sin with black color.  

Supernatural in Adventures of Huckleberry Finn and Macbeth Essay Example for Free

Supernatural in Adventures of Huckleberry Finn and Macbeth Essay â€Å"The use of the supernatural occurs immediately at the beginning of the play with three witches predicting the fate of Macbeth. The predictions of the witches give the audience a clue to Macbeth’s future† (fieldofthemes.com) Adding a supernatural effect to both the story of â€Å"The Adventure’s Of Huckleberry Finn† by Mark Twain and â€Å"Macbeth† by Shakespeare add an element of suspense and give the reader more to process and think about. In Huckleberry Finn, Jim feels very strongly about his belief in the supernatural. â€Å" Jim said the witches bewitched him and put him in a trance, and rode him all over the State, and then set him under the trees again, and hung his hat on a limb to show who done it.† (Twain, Mark). This adds humor into Huck Finn and a sense of suspense. Although Shakespeare’s â€Å"Macbeth† and Mark Twain’s â€Å"The Adventures of Huckleberry Finn† share a common theme involving the Supernatural, Shakespeare’s â€Å"Macbeth† utilizes the theme of the supernatural with greater impact because of the time period, the active supernatural characters, and the predictions that foreshadow the entire play. For example, during the time period of the 1600’s, the belief in the supernatural was a common and exciting thing. â€Å"Elizabethan era citizens believed that certain actions would invite good or bad luck, just as other actions could ward off bad luck.† This belief in the supernatural gave the play Macbeth much more credibility in the fact that it was relatable to the time period. Along with flattering King James by adding in scenes related to him, including supernatural efforts gave Shakespeare an even better reputation. King James â€Å"was Englands greatest witch hunter who was responsible for the deaths of more British witches than any other monarch in the history of England† (bukiska.com) Adding the supernatural elements made Macbeth even more watchable than it would have been without them. The supernatural characters, the witches, are the basis of the storyline in Macbeth. Without the witches predictions, Macbeth would have never become King or kill any of the people he ended up killing. These predictions foreshadowed the entire play and set up the basis of the storyline. The witches created a creepy and eerie feel to the story.

Toyotas Operational and Industry Environment

Toyotas Operational and Industry Environment In order to analyse the Toyotas operational and industry environment and its competitive position in the auto mobile market, there some appropriate strategic tools are using in this paper. Such as the SWOT model , Porters Generic strategy and Ansoff matrix. The SWOT model analyses the companies internal and external strengths with opportunities as the factors of the companys success in the competitive market. And also this model analyses the companies weaknesses with threats for its fluctuation of sales. Generic strategy refers to analyse the companys strategic choice with in the competitive rivalry. In addition Ansoff matrix also analyse how Toyota uses appropriate strategies to be as the world leader in the car manufacturing and sales of subsidiaries. Toyotas competitors such as the Ford Motor company, General Motors and Honda Motor Corp, who concern to decide the companies market position in the market. During the periods these all companies are different position in the auto market. As the leader of the auto manufacture Toyota Motor Corp Ltd adapts the management corporate philosophy which is meant that Toyota Way including Toyota Production system(TPS), and as the Lean production. The companys corporate philosophy decide the long term competitive advantages. The elements of TPS are Just In Time(JIT), Jidoka(quality improvement) and Kaizen. In addition, Toyotas Total Quality Management(TQM), which is correlated with TPS, is also the most important system to catch the market share in the rival. These systems are adapting in the production line to product the plants efficiently with the combination of the low cost and high quality. This opportunity seeks the best in the global auto market. And also the supply chain management too is as a supporting hand for the company. These all will be briefly discussed in this paper. At the end of this paper, it is analysed that how the elements of Generic strategy such as cost leader, differentiation and focus and Toyotas operational systems are functioning together to get best competitive position within the competitors world wide. With that, Ansoff matrix will be analysed by its elements such as market penetration, product development, market development and diversification regarding the companys performance and competitive position. INTRODUCTION: The Toyota Motor Co. Ltd was founded in 1937 by Kiichiro Toyoda, as a one of the worlds leading manufacturers. It has become the world Largest, and most profitable car maker . During the Second World War, the company produced trucks for the Japanese Army. Unlikely ,the companys factory in Aichi was bombed down by the enemies before war ended.ÂÂ   After the war ended ,Toyotas production of cars commercially began with the SA model in 1947. In 1957, the Toyota Crown was exported to the USA as the first time. It announced its arrival to British in1957.After 1960s the company started to spread its operations world wide. Toyota entered into an alliance with Daihatsu and Hino Motors. Its Compacts, produced smaller and fuel efficiently from the start.ÂÂ   Names of few of the popular Toyota vehicles are Toyota Prius, Camry, Lexus, Toyota Tundra, Toyota Tundra Double Cab and Corolla (http://www.swot-pest-porter.com). In the early 1970s, the companys production was behind of Ford Motor and GM, but in 1974, Toyota Corolla got largest place in world car selling. And, after ten year Toyota was in second to GM in the market(www.nytimes.com) .Now it is the third largest manufacturer in the global automobile market by sales which is producing more than 5.5 million vehicles per year(www.conceptcarz.com). LIMITATIONS AND CONSTRAINS: In my point of view the time is the important problem to analyse the companys operational and industry and their competitive position within it. There are lots of resources available for this analysis, however ,it is difficult to understand and recognise the very relevant resources from the pool of them. COMPETITORS OF THE TOYOTA. In the global auto market Toyotas strategic position is very strong than other competitors. It is clear that the Ford Motor , GM and Honda Motors are the main competitors in the market. Among these, Toyota was the third largest automaker in the world. Along with GM, when the Japanese automakers sales in U.S had gone into a decline, Ford took attention on Toyota customers with great offers at the January 2010. In February 2010, Ford over took GM to be the number 1 seller in the U.S as the first time since 1998. But ,Honda Motor co didnt follow its rivals at targeting Toyota customers , this is why its sales drop by 5% in 2010 (www.reuters.com). In 2009, while GM had 20% and ford had 16% , Toyota had 17% of the market share in U.S( www.reuters.com ). Especially, the companys operational system such as the TPS, TQM and the Toyota Way add real value to the companys business which is as the different management style. This value adding procedure is giving a unique strategic position in the market. For example, Toyota Prius is a enormous value and it is a commitment to green products green innovation. Toyotas project management makes sure that the projects and goals are aligned with the added values of the company and core competencies. The reason for the project manager of Toyota is the understanding the importance of competencies and core values with the need of working together. And , project manager should give efforts and best thoughts towards develop its attributers and remained focused on business goals.(http://svprojectmanagement.com). THE PILLARS OF THE TOYOTAS SUCCESS AND COMPITITIVE ADVANTAGES: Toyotas operational systems are its pillars of the success in the industry wise. They are, Toyota Way. Toyota Production System(TPS). Total Quality Management(TQM). Toyota Supply chain. Actually the Toyota way and TPS have been part of how Toyota has developed its supply chain. TPS has been part of how Toyota has developed its supply chain principles effectively towards best performance with suppliers, dealers and manufactures. These concepts work together to add value to the production line of Toyota. THE TOYOTA WAY. Toyota Way and Toyota Production System are the different concepts, but its 14 principles are giving a corporate philosophy by using Toyota Production System (TPS), which is a systematic and highly developed example of Toyota Way. Toyota Way is the culture and also a set of efficiency and improvement techniques, and also it is called that the companys managerial philosophy. Its 14 principles are categorised into four categories. Long-Term Philosophy. Toyotas philosophy of empowering its workers is the core of human resource management system. It brings employee loyalty and improves creativity and innovation by motivating employee participation. The Right Process Will Produce the Right Results. Adding value to the Organization by Developing the People and Partner Continuously Solving Root Problems Drives Organizational Learning With 14 principles of Toyota Way, another 4 high level principles such as Genchi Genbutsu, Kaizen, Respect and Team work and Challenge are correlated with each other. Thorough learning and kaizen , Toyota has managed to grow and achieve its goals. Kaizen is a Japanese term means that change betterments it focused on improving the quality and the efficiency of the Toyotas production line. Through Kaizen the members have given gift certificates instead of money. The philosophy of Toyota Way is passing down from generation to generation(http://www2.toyota.co.jp). TOYOTA PRODUCTION SYSTEM (TPS). Sources; http://www.1tech.eu TPS is the way of companys successful globally, which was introduced by Taiichi Ohno. Corporate philosophy is the basic of its success in the global market. TPS presences high standards of products this is why the company easily penetrate the markets world wide. And also Toyotas work place morale and job satisfaction are producing reliable and high-quality products at reasonable prices. Many of the success of Toyota concern with high performance of human resources and supply chain management. JIT productivity improvement. Kanban system manages the JIT production system and it supports by each of the previous steps. Generally, the JIT means that what is needed, when it is needed, and in the amount needed. By using this concept, Toyota produces quality products by elimination of waste and avoiding the un reasonable requirements in the line production. Under this system, the ways of achieving productivity improvement are Providing a production instrument to the production line as soon as possible, when a order for vehicle is received,. Stocking few numbers of all part for assembly line Proceeding process stocking proceeding process of all parts. Jidoka- highlighting of problem. Under this concept the quality is consider by Stopping machine safely on its own when complete a normal process and also when meet any quality problem. communicating via the Andon (problem display board) when machine automatically stop. Because of this operator can continue at another machine. This will lead to a greater processing capacity. Eliminating waste: TPS works mainly with the internal in next stage in the production line and external customer perspectives which is considering and separate the value added steps from the non value added steps. According to Jeffery K. Liker , 8 categories of waste are eliminating in the TPS such as over production, waiting time, unessential movement and transport, over inventory and so on. The head of Toyota manufacturing divided the waste was eliminated in this system by JIT and Autorotation in the production line to add value(http://people.brunel.ac.uk). The concept of respect takes responsibility to build trust each other in the TPS and the concept of team work encourage employees to achieve growth and performance by contributing the opportunities of development in the Toyotas production line to add value. Actually, the Toyota Production System has been a roaring success at Toyota, but much less effective in other locations in many conditions. Total Quality Management (TQM): TQM is a management system adapting by Toyota in the production line to add value of its products. This is the greatest strategy following only by Toyota successfully within the larger auto makers. Indeed, The TQM is based on the quality of the product with the commitments of the all members towards the long term success of the company.TQM works through a combination of the customer satisfaction and welfare of the society. At the end, the result is the high quality and low cost add value for the product in the TPS. GENERIC STRATEGY AND COMPETITIVE ADVANTAGES. Porters Generic strategy, seeking competitive advantage on Toyota, is defined as the basis on which a strategy business unit (SBU) might achieve or counter competitive advantage in its market. According to the cost leader ship strategy, Toyota reduced its cost at every element of the value chain. Toyota is the good example of an organization for producing quality cars at low price with brand and marketing skills to use a premium pricing policy. The companys JIT attempt to manufacture with an absolute minimum of inventory, in a shortened lead time. This feature support the companys manufacturing cost in production line. Jidoka supports to reduce the cost in production line by highlighting the problem before occur. And also TQM of the Toyota is supporting in reducing the cost how with the minimum input and maximum out put with in a sort lead time. Toyota is manufacturing its products for the market where what is needed and what is suitable. Its mean that the company adapts the differentiation strategy well than other competitors. When it offer totally different from other rivals , this is why the companys products aim on value with less price and which creates higher price and higher profit to the company. Hybrid Prius is the pertinent evident of differentiation in the rival. Further more, Toyota offers high quality and luxury brand cars in Japan, Europe and U.S( like Lexus ), the company is selling minivans and trucks in China, Brazil and South Asian markets, where the products of the Toyota are totally different than other major competitors. The thing is that even though, additional costs occur pursuing differentiation, and it is managed by increased revenue generated by the sales. In the view of application of generic strategy with JIT, in which the production line is able to producing many varieties of products in response according to the changing customer demand in the market. It means the company uses the JIT production to differentiate its product in the market. And also TQM helps in Toyotas differentiation strategy, how the companys products with high qualification could easily differentiate among other competitors. By adapting focused differentiation strategy, Toyota first introduced a brand, Scion, specifically for young buyers in January, 2003 which was a great success with that introduced hybrids in 1997 selling 127000 more than Honda. (http://ezinearticles.com). This strategy support to compete with other competitors in similar segments and to get competitive advantages. JIT production and TQM support also in focused differentiation strategy. For example, when the company identifying specific market segmentation wised to buy a specific vehicle, JIT production gives that particular product to that targeting market segment. THE APPLICATION OF THE ANSOFF MATRIX IN TOYOTA: Market penetration: Toyota penetrated easily and successfully world wide comparatively than other large manufacturers in building plants and sales the subsidiaries. Toyotas first advantage of market penetration is presentation of strategic markets. For instance, it penetrated successfully in Asia, Europe and US. Whereas, its market rivals such as Ford and GM influence in only U.S and Europe. Toyota Motor Corp holds its foot in China and India to get competitive advantages heavily. By adapting this strategy, it manages the unexpected fluctuations for the markets of its products. Product development: One of the key to the success in the car market is new models which increase the demand and loyalty for the companys brand. Toyota has huge reputation for producing few cars with fuel efficient and good performance. And, Toyota has enhanced to meet government requirements specially for reducing the hybrid fuel. A remarkable point is that Toyota was the first car manufacturer to market hybrid fuels, with the introduction of the Prius model in the market (www.reuters .com) 2010 Toyota Prius is the best example of the product development. The third generation Prius is bigger and more powerful than the previous version, but it will become in the United States as the only vehicle that offers combined mileage greater than miles per gallon (http://reviews.cnet.co.uk). But the latest Prius is 70Kg heavier than its predecessor, and this is largely down to the amount of new technology inside. Market development: Toyota Company sells its products in 70 countries world wide. In order to maximize the profit, it seeks new market with existing products. For example, China and South East Asia ere the new markets where the company sells its vehicles. Diversification: By adapting this strategy, Toyota seeks new products into new markets. While getting any troubles by the competitors in existing market with existing products, it is the pertinent strategy for its growth. The company emerges in China and South East Asia where targeting a 2012 launch and a piece under 1 million Yen. (www.reuters .com) and also one of the Toyotas Mini vehicle unit which is Daihatsu Motor co(7262.T) is developing a small car for emerging market such as South East Asia, and may sell them under the Toyota brand the Chunichi newspaper said(www.reuters.com). The Compact car will be based on its vision and Yaris subcompact models in the new markets. In addition, these two models and a new set of entry level cars are announced for India, Brazil and China by Toyota. To develop the sales in emerging markets the company maintains a three layered approach. However, Toyota has relatively small market share in India, Brazil and other emerging markets. This is indicating the limitat ions of its market development (www.reuters.com). Toyota gets a best strategic position in the competitive market by applying these strategies properly than other competitors. CONCLUSION AND RECOMMENDATION: As above, the third largest auto maker Toyota is a successful company in the auto makers. The factors of the companys success and its best competitive position in the competitive revalry, are its internal strengths and external opportunities. Even though, it is as the world leader in the auto market, it faces some problems as its own weaknesses and the threats from other competitors and from the outside. These factors are analysed by using SWOT analysis in the appendix. In addition, the companys main competitors compete with it heavily during the years such as Ford, GM, and Honda. However, Toyota Motor Corporation is in a much strengthened strategic position in the auto market. There are some details describe the companys achievements among the competitors in the appendix. The Toyota Motor Corporation achieves its competitive advantages by using the best operational systems in the industry such as the Toyota Way, TPS known as the Lean production and TQM in its production line. Porter s Generic strategy analyse the companys strategic position in the market with the correlation of those operational systems toward the competitive advantages. And also Toyotas supply chain management is reflecting its uniqueness in the global market which is noted in the appendix. At the end, the Ansoff matrix describe the companys current position by market penetration, market development product development and diversification strategies. In my point of view, Toyota Motor Corporation still is the world leader of the car makers. But in 2008 and 2009, it faced decline in its sales by few problems. However, the president of the company Akio Toyoda who and the every level employees of the company commit their whole life over take these problems. I suppose that, in future it will be the number one auto maker in the global car manufacturer with the attention of over taking particular quality problem for preventing the quality problem by using its the world greatest strategic operational choices in the industry. APPENDIXES: 1. TOTAL SALES OF THE TOYOTA AND ITS COMPETITORS: COMPANIES VOLUME MAY 09 MAY 08 DSR DSR5/09 DSR5/08 GM -29.555 191,875 272,363 -26.84% 7380 10,088 Ford -24.25% 161,531 213,238 -21.373% 6,213 7,898 Toyota -40.72% 152,583 257,406 -38.44% 5,869 9,534 Honda America -41.46% 98,394 167,997 -39.21% 3,782 6,222 Chrysler Group -46.88% 79,010 148,747 -44.84% 3,039 5,509 Nissan NA -33.10% 67,4874 100,874 -30.52% 2,596 3,736 BMW Group -27.65% 22,993 31,781 -24.87% 884 1,177 *The daily selling rate (DSR) is calculated with 26 days for May 2009 and 27 for May 2008. Source: http://www.autoblog.com/2009/06/02/by-the-numbers-may-2009-gm-and-ford-surprise-edition/ TOYOTAS INDUSTRY RANK AT IMPORTANT ATTRIBUTES. ATTRIBUTES INDUSTRY RANK Innovation 3 People management 3 Used of corporate assets 2 Social responsibility 1 Quality of management 2 Financial soundness 1 Long term investment 2 Quality of products /services 2 Global competencies 2 Source: http://money.cnn.com 3. WORLDS TOP 10 AUTO GROUPS BY 2009 H1 SALES. RANK COMPANY SALES(US $ Millions) 1 Toyota Motor Corp 3.564 2 General Motor Co 3.553 3 Volkswagen AG 3.265 4 Hyundai Mo. Co 2.153 5 Ford Motor Co 2.115 6 P S A Peugeot Citroen 1.587 7 Honda Motor Co 1.586 8 Nissan Motor Co 1.546 9 Suzuki Motor Corp 1.15 10 Renault SA 1.107 Source: www.reuters.com 4. THE SWOT OF TOYOTA Strengths and Opportunities; Toyotas Just in Time (JIT) allows the production system to produce vehicles efficiently and quickly, one at a time, which is great quality and provide satisfaction to consumers. And ,the company has a major strength which is Toyotas Production System(TPS) prevent waste and therefore reduces the amount of energy, raw materials and other resources used, this is making it towards sustainability(www.toyota.eu). Toyota is a best profit maker in the market. This is because, rising up of the share price of Toyota. For example, Toyotas stock market value is approximately 30% of the value of the global car market. If we combined the profits of all global car makers, Toyota would account for about one third. And other all Japanese car makers would account for another third. Only the rest final third, would be accounted by all European, North American and other Asian car makers together. (http://www.marketingteacher.com). Another reason for its climbed up to the top is beyond loyalty. Toyotas life long learning by Kaizen and improvement management systems makes best decisions. Japanese companies, specially, Toyota is excellent in particular areas as the strengths its self. Such as Elimination of waste and cost cutting. A culture rooted in manufacturing. Fast, disciplined product development cycles. Consistence and relentless Toyotas managers always knows that where they want to be five years from now and are working at getting there. Toyotas innovation and creativity is a major opportunity. Companys commercial mass produced hybrid gas and electric vehicles are creating more opportunities in the competitive markets. Prius is the pertinent example for these advance technology adaptation of Toyota. It based on advanced hybrid technology and R+D activity. This investment and Toyotas wide range of product portfolio support customers for alternative sources of fuel away from gas guzzling cars. Another example of innovation is that Toyota Sienna is planned to join the hybrid line up by 2010 (www.brandchannel.com) Toyota mostly attracts the youth market by its segmentation. As Pedro Pacheco(spokes person for Toyota Europe) said, The urban youth segment is attractive to us because it can success fully influence the whole of youth sector, and it allows to attract customers to the brand at an earlier stage (www.brandchannel.com). Toyota like these customers to grow by providing products as their like. This is a big opportunity of establishing a life lasting relation ship. Toyota taking heart the customer feedback it has received, together with its suppliers, dealers and its world wide employees, its commitment is on its products and services and also its commitment to the customer first. This feature is giving many opportunities to Toyota world wide. Toyotas continuous global expansion also brings opportunities to it. Practically, Toyota has its factories in all continents and its vehicles are made up in different countries. Remarkably, for recent years the company emerged in third world countries and it is getting possible opportunities. And it tends for the localisation of the production using their situation in different countries as the suppliers of the production local market. This result of globalization is making many opportunities for the company. Weaknesses Threats Almost every problem creates a need for inventory, which is one of the largest wastes. This is really a reflection of ineffectiveness. Because every manufactures should need to make sure that their models consumers want or not and conditions of those markets. These may be the reasons of putting attention on emerging market heavily. Toyotas production needs a huge investment with high fixed cost and cost of labour. This may allow to face problems like over capacity or under capacity if occur any upturn or downturn. The main problem is that the companys products are too expensive for its emerging markets, when other competitors like Tata Motors (TM) produce reasonably cheaper cars. The movements of the exchange rates make narrow margins in the market of its sales. For example, in 2009, Toyotas chairman said that the strong appreciation of the Yen against the Dollar and Euro and the rising cost of raw materials made losses in Toyotas sale (www.glgroup.com). The demand for larger cars decreased while increasing the demand for small cars by changing the life style nowadays. This is also a challenge for Toyota. According to the increasing expenses, the consumer usage of cars is decreasing. This factor reduces the demand of cars in the market as well as the high price Toyotas cars. Businesses operate their operations with fewer fuels by the technology improvements. For instances, Europe governments are encouraging more alternatives for transport, which is reducing the demand for new cars (www.businessteacher.org.uk). These all factors are the threats for Toyota. 5. SUPPLY CHAIN MANAGEMENT OF TOYOTA: Toyota has coordinated the plans across the supply chain and has executed them efficiently. It is the ultimate way in which Toyota has built its superior efficiency in operations. Its effective performance is estimated by the process and their results. This process aims to create a balance between the supply chain parameters. Components of Supply chain management. Variety of products. Velocity of product flow. Variability of out comes against fore cast. Visibility of process to enable learning. (http://www.mhprofessional.com/product.php?isbn=0071615490) The variety represents an extremely important design selection of supply chain which has an effect on the participants of the supply chain. When choosing variety, there is a need to have feed back to make sure that it is suitable to represent for the market situation. Velocity has clearly shown in the Toyotas supply chain. It allows doing the procedures at the same time throughout the system. By reducing the variability orders, supply chain will need low level of inventory. It also support for the high quality and cost reduction across the supply chain. These three concepts of supply chain management influence on the stable of supply chain of Toyota. However, Toyotas supply chain ran too hot, which means, working with a lot of unfamiliar suppliers. They didnt have proper understanding of Toyotas culture. The majority of the problems of the company concern with this problem. The Toyota Way and TPS have given them the competitive advantages on a global scale. Most of these advantages are gained through a combination of the arrangement of the human resources policies and their highly efficient global network of the suppliers and manufactures. According to the TPS Toyota maintain the quality of the product while reducing the cost and eliminating the waste efficiently. Through these techniques Toyota is able to develop competitive advantage in their manufacturing and sales. Toyota considers that the workers are at the centre of the process of continuous improvement and that their creativity leads to innovation, to improve the loyalty and morale in the work place. At the end, when the job satisfaction is high, there is a greater likelihood that reliable and high quality products can be offered at an affordable price. So the low cost and high quality of the products create high demand for Toyotas products in the competitive market. 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