Toyota Meets Stakeholders Objectives Toyota Corporation Is Essay

Open, View, and/or
Download this Document

Total Length: 681 words ( 2 double-spaced pages)

Total Sources: 5

Page 1 of 2

Toyota Meets Stakeholders Objectives

Toyota Corporation is one of the largest automobile manufacturers in the world and it is headquartered in Japan. Founded in 1937, this company services clients all over the world. Despite its position as a leader in automobile production, Toyota was mired in a controversy that revolved around safety issues. When the severity of these issues increased, Toyota began the recall of its vehicles since late September 2010 and this has tarnished the reputation of the company in a big way. Its sales has also dropped because people are unsure of its safety (Associated Press, 2010). This controversy coupled with the global meltdown forced the company to ask for a 200 billion yen loan from the Bank of Japan (Willacy, 2009). All this had a huge impact on the confidence of stakeholders in the company and so, Toyota is taking additional steps to meet their expectations. Toyota's stakeholders includes its shareholders, customers, suppliers and distributors, employees and local communities and so, the strategies have to be multifaceted to meet the responsibilities of each of these varied groups (Friedman & Miles, 2006).

Stuck Writing Your "Toyota Meets Stakeholders Objectives Toyota Corporation Is" Essay?

View All Our Example Toyota Meets Stakeholders Objectives Toyota Corporation Is Essay

Have A Custom Example Essay Written



Strategies

The primary aim of Toyota is to accept responsibility for its mistakes and rectify them and also, it is taking steps to rebuild its reputation in the eyes of the stakeholders and the entire world. The Toyota president and grandson of the founder, Akio Toyoda, bowed before the media and the entire world and apologized for the company's mistakes. "President Akio Toyoda repeatedly attributed Toyota's quality/safety problems to its rapid growth which outstripped its human resources. He said the company could not train enough personnel to keep up with its rapid growth. He acknowledged that a misguided strategic focus at the company warped the 'order of Toyota's traditional priorities' so that the stress on product safety and quality first, and sales volume and cost second, became inverted as Toyota began rapidly expanding a decade ago" (Cole, 2010, p.1). In the light of these issues, the company has hired more testers and engineers who are working….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Toyota Meets Stakeholders Objectives Toyota Corporation Is" (2011, October 11) Retrieved June 6, 2026, from
https://www.aceyourpaper.com/essays/toyota-meets-stakeholders-objectives-toyota-52385

Latest MLA Format (8th edition)

Copy Reference
"Toyota Meets Stakeholders Objectives Toyota Corporation Is" 11 October 2011. Web.6 June. 2026. <
https://www.aceyourpaper.com/essays/toyota-meets-stakeholders-objectives-toyota-52385>

Latest Chicago Format (16th edition)

Copy Reference
"Toyota Meets Stakeholders Objectives Toyota Corporation Is", 11 October 2011, Accessed.6 June. 2026,
https://www.aceyourpaper.com/essays/toyota-meets-stakeholders-objectives-toyota-52385
   

Open, View, and/or
Download this Document
order custom essay example