Essay on "Process Identification"
Essay 4 pages (1449 words) Sources: 4
[EXCERPT] . . . .
Toyota Process ImprovementsToyota Summary
Despite its many struggles, Toyota has become a global behemoth in the automobile, as well as other, industries around the world. Indeed, they have jostled back and forth between General Motors (GM) as the largest automobile manufacturer in the world and they dwarf GM in total revenue. However, even as their own former executives will point out, that growth and success has come at a very steep cost with the recent acceleration malfunctions that some of their cars have experienced (Yahoo, 2013).
Temporarily setting aside their recent travails, Toyota's overall performance and history is quite impressive. They are fairly distant from their apex, which occurred in 2007 just prior to the global recession, but Toyota's stock price is quite high. After peaking at just above $100 USD in 2001, there was a noticeable swoon from 2002 to 2003, but the stock came roaring back from 2003 to 2007, peaking at nearly $140 USD in 2007. The stock has since fallen off and went as low as just over $60 USD per share after its peak, but the stock is currently on an upswing and currently sits at just over $100 USD per share as of the writing of this summary (Yahoo, 2013).
Toyota has more than 325,000 employees worldwide and boasts annual revenues of $276 billion USD. None of their competitors are even close to this, with GM being at $152 billion and Ford being at $134 billion USD. It should be noted that much of Toyota's revenues come from areas other than passenger cars, not unlike their Japanese counterparts Honda and Mitsubishi. Toyota's enterprise value, as of late February, stands at nearly half a trillion
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Toyota Process Improvements
Toyota has engaged in a number of processes over recent years and many are described in the case study that is the basis for this assignment. Toyota in prior years has had a very hard road to travel due to the lingering perceptions regarding hostilities between the United States and Japan during World War II, but those are starting to fade. A total of three processes will be summarized and analyzed.
Internationalization/Localization
As noted in the introduction, many people are cognizant of the fact that Toyota is at its genesis a Japanese car company. Indeed, the case study notes that most decisions of import are made in Japan, not the United States. However, the case study also notes that great efforts have been undertaken to "localize" Toyota as an American car company. Indeed, Toyota has a significant United States presence and a lot of Toyota cars and trucks sold in the United States are made there, or at least nearby elsewhere in North America. The efforts have had good results as many modern car buyers focus on quality and performance when buying cars and they are less centered (as compared to past generations) on the country of origin of the company who makes the car. Some say that the fact that the cars are made here makes it just about as American as Ford and GM even if the ownership is not all domestic.
Toyota should continue driving home the fact that much of what goes into an American-driven Toyota is indeed American in terms of who puts the cars together and who sells/markets them as well. Toyota has (and needs to continue) to stay away from nationalism and patriotism because Ford and GM will win that argument every day of the week. Chrysler has lost some standing because they are owned in large part by a foreign car company (Fiat).
The benefits of this strategy are obvious. More Toyotas being sold means more safer cars and this is for the betterment of all Americans and this is a point they should focus on. Many people crave the notoriously safe cars of BMW and Mercedes, but Toyota can position themselves as a cheaper alternative and they can also push their luxury Lexus line as an option that can be chosen instead of the pricy exotics. The impacts to the organization are higher sales and more repeat buyers, assuming that Toyota keeps their quality and safety principles intact. This leads into the major opportunity. The case study notes… READ MORE
Quoted Instructions for "Process Identification" Assignment:
“Please follow these instructions thoroughly.
Activity Instruction
After reading the assigned Toyota case study, Toyota: The Accelerator Crisis (2010) by Greto, Schotter, and Teagarden, identify and describe several processes within Toyota that will benefit from improvement.
When contemplating processes within Toyota, consider these criteria:
Identify processes that already exist, not those being created or revised.
Identify processes you can personally evaluate and impact within the relatively short duration of this course.
Describe each process in terms of the following:
Importance to Toyota.
Scope: breadth of its reach.
Parties involved: customers as well as internal and external suppliers.
Priority: the timeliness or urgency.
Overall impact or benefits of improvement to Toyota.
Costs to Toyota if the process is not improved.
In addition to the above:
Include a short summary (in APA format) about Toyota. Your description should be as thorough as possible. In a subsequent discussion for this unit, you will be asked to post your Process Identification assignment. Prior to submitting your assignment, refer to the Process Identification Feedback discussion. This discussion provides you an opportunity to obtain feedback prior to handing in your assignment.
Submit your Process Identification assignment as an attachment to this assignment. Review the Process Identification Scoring Guide prior to submitting this assignment to ensure you have met all of the criteria.
The short summary will basically be 1 page out of the total 4 pages I am ordering. It should be separate though. *****
How to Reference "Process Identification" Essay in a Bibliography
“Process Identification.” A1-TermPaper.com, 2013, https://www.a1-termpaper.com/topics/essay/toyota-process-improvements/5731192. Accessed 5 Jul 2024.
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