Protectionist taxes
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Toyota Motor Corporation is a Japanese company, founded in 1937. They are engaged in the design, manufacture, assembly, and sale of passenger cars, minivans, commercial vehicles, and related parts and accessories primarily in Japan, North America, Europe, and Asia. Current brands include Toyota, Lexus, Daihatsu and Hino. Toyota is currently one of the top automobile manufacturers in the world. They are company driven by imagination, experimentation, humility, respect innovation. They believe it is people who will go extra mile to deliver their customers all that Toyota promises to be, today, into future. Cars are big, heavy, and expensive to ship around in large numbers. That’s one of the reasons the US market was caught off guard when Toyota started selling Japanese-made cars in the US at lower prices than they could match. The car industry was a huge contributor to the US economy, so one of the first reactions from the government was the implementation of protectionist taxes on all imported cars - thus making Japanese cars as expensive as locally made cars. But the tactic failed. Within a few years, Toyota had managed to establish productions on US soil, thus eliminating the need to pay any of the hefty new import taxes. At first, US car makers weren’t at all that worried. Surely by having to move production to the US, the costs for the Japanese carmakers would be roughly the same as those of the local car companies. Well, that didn’t happen. Toyota continued its cost leadership strategy. It still manufactured cars for significantly less money than US companies could. Their finally sharpened production processes were so efficient and lean that they could beat US carmakers at their own game. Toyota spent years studying the production lines of American carmakers such as Ford. They knew that the US car industry was more advanced and efficient than the Japanese industry. So they decided to be patient. They studied their competitors and tried to copy what the Americans did so well. They blended these processes with their strengths and came up with something even better. Toyota proved that knowing one's weaknesses can be the key to success and be one of the best businesses strategies you can ever deploy. Not just that. Can you name a single famous executive at Toyota? I can't. And one of the reasons is that Toyota's number one corporate value is humility. It helped them crack the US market, and it runs deep in the organization – from top management to assembly workers. Toyota's success is based on continuously improving its functional level strategy. Which focuses on day-to-day operations, decisions, and goals. They understood that the bigger picture consists of thousands of small tasks and employees. They took a big goal such as ''becoming a cost leader in our category without compromising quality'', and ensured that their mission impacted every level of the organization. NAWAR Download 16.1 Kb. Share with your friends:
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