Milestone One Guidelines And Rubricoverviewyou Got The Job You Have B ✓ Solved
Milestone One Guidelines and Rubric Overview You got the job! You have been appointed the director of strategic planning for the Fortune Global 500 company you selected in Module One. They were impressed with your detailed background research about the company’s vision and goals. The vice president of strategy and operations (VP) has confided to you that strategic planning has been a challenge for the company over the past year, specifically crafting new strategies and aligning them to the company’s mission and goals. You have now been tasked with creating a new strategic planning proposal to help the company explore at least one new growth opportunity to increase its revenue or market share in the industry.
To create your proposal, you first need to analyze the company’s business environment and identify possible opportunities for growth. In this assignment, you will analyze your company’s internal business environment and explain its influence on revenue or market share. Assignment Details: Perform an internal environment analysis of your company to understand the company’s current business environment and future goals. Use resources such as the company website, which will have pertinent information including its most recent sustainability report, and other relevant sources to help complete this presentation. Create a Microsoft PowerPoint presentation to show the results of your analysis.
Use both onscreen text and speaker notes to convey your information effectively. For example, you can use brief bulleted lists summarizing the highlights of your analysis on the slide, and include more detailed explanations where needed in your speaker notes. Specifically, you must address the following rubric criteria: A. Overview (slide 1): Provide a brief overview of the company's products, services, and customer base. B.
Existing Entities (slides 2–3): Identify at least two existing partnerships, mergers, or acquisitions. Explain how these entities contribute to the company’s revenue or market share. C. Five-Year Goals (slide 4): Speculate on what the company wants to achieve in the next five years by considering its mission statement, its values and goals, and relevant sections of its sustainability report. Submission: Submit a PowerPoint presentation with 4–6 slides. Sources should be cited according to APA style. ***From module one we chose the Toyota Motor Corp.
Paper for above instructions
Overview
The Toyota Motor Corporation, founded in 1937, is one of the largest automobile manufacturers in the world, based in Toyota City, Japan. The company operates in the automotive industry and is renowned for its innovative engineering, quality, and sustainability practices. Toyota primarily produces a wide range of vehicles, from conventional gasoline-powered cars to hybrids and electric vehicles (EVs), catering to diverse markets around the globe. They emphasize safety, reliability, and a commitment to eco-friendly solutions through their Toyota Environmental Challenge 2050, which aims to reduce CO2 emissions and promote sustainable mobility (Toyota, 2023).
Toyota’s extensive customer base includes individual consumers, fleets, and businesses across various regions, all of whom prioritize efficiency, safety, and sustainability in their transportation choices. The company’s significant market strength is witnessed not only in their large global sales volume but also in public perception, where they are recognized as a leader in technological innovation (Kagami & Koike, 2020).
Existing Entities
Partnerships
1. Partnership with Panasonic:
In 2020, Toyota announced a partnership with Panasonic to jointly produce prismatic batteries for electric vehicles. This collaboration, known as Prime Planet Energy & Solutions, is projected to reinforce Toyota’s position in the electric vehicle market, aligning with their mission to enhance sustainability and innovation. The joint venture aims to accelerate battery production and technology development to meet the growing demand for EVs, thereby increasing market share in the EV sector (Toyota, 2023; Panasonic, 2020).
This partnership not only enhances Toyota’s production capabilities but also allows it to leverage Panasonic’s expertise in battery technology, positioning Toyota strategically to capture an emerging segment of the automotive industry that is expected to grow significantly over the next decade.
2. Collaboration with Uber:
Toyota has also formed a collaboration with Uber, which focuses on developing self-driving technology. This partnership aims to create an autonomous ride-sharing network leveraging Toyota’s automotive manufacturing expertise and Uber's technological capabilities in ridesharing (Doorley & Seidel, 2018).
By combining resources and knowledge, both companies are poised to significantly impact urban mobility solutions. This collaboration can potentially lead to increased revenues through new service offerings and a strengthened market presence in the evolving mobility-as-a-service (MaaS) space.
Mergers and Acquisitions
1. Acquisition of Lexus:
Lexus, the luxury vehicle division of Toyota, was established in 1989 and has since been integral to expanding Toyota's market share within the luxury segment. The strategic decision to cultivate Lexus has allowed Toyota to command a dominant presence in the premium vehicle market, contributing significantly to overall revenue. By positioning Lexus alongside established luxury brands, Toyota can capture a demographic willing to invest in high-quality, luxury automobiles, thus enhancing profitability through higher margins (Katz, 2021).
2. Acquisition of Daihatsu:
The acquisition of Daihatsu Motor Co., Ltd. in 1998 expanded Toyota's product line in the compact and fuel-efficient vehicle segments. This strategic acquisition allowed Toyota to penetrate markets where demand for smaller cars is high, such as in urban settings and developing countries. The revenue from Daihatsu’s operations greatly complements Toyota's profitability while supporting overall growth by diversifying their vehicle offerings (Toyota, 2023).
Five-Year Goals
Speculated Goals
In reviewing Toyota’s vision and sustainability report, the company’s five-year goals appear to emphasize innovation, sustainability, and market dominance in hybrid and electric vehicles. Key goals include:
1. Expansion of Electric Vehicle Offerings:
By 2025, Toyota aims to introduce several new electric models while increasing the production and sales of battery electric vehicles (BEVs). This aligns with the company's commitment to green technology and aims to capture a larger segment of the global automotive market characterized by growing environmental consciousness (Toyota, 2023).
2. Sustainability Benchmarks:
Toyota plans to achieve a significant reduction in CO2 emissions across the supply chain, aligning with their Environmental Challenge 2050. This includes adopting more efficient manufacturing processes and increasing the use of renewable resources. The company pledges to enhance sustainability practices, thereby improving brand reputation and customer loyalty while meeting increasing regulatory requirements for environmental standards (Kagami & Koike, 2020).
3. Investment in Autonomous Technology:
By investing more in self-driving technology, Toyota aims to lead the automotive industry toward the realization of Level 4 autonomous vehicles. Enhancements in this field will not only allow Toyota to maintain relevance as consumer preferences shift toward connected vehicles but also create opportunities in the emerging autonomous vehicle market, potentially boosting revenue streams (Doorley & Seidel, 2018).
4. Market Penetration in Emerging Economies:
Toyota plans to focus efforts on expanding their footprint in emerging markets such as Southeast Asia and Africa by customizing their product offerings to meet the specific needs of these regions (Katz, 2021). This includes producing more affordable models that provide value for customers in developing nations while simultaneously increasing sales volume globally.
5. Continuous Improvement in Robotics and AI:
Incorporating advanced manufacturing technologies and AI-driven processes into their supply chain will enable Toyota to enhance operational efficiency and reduce production costs significantly. This drive towards smart manufacturing will contribute to higher profit margins and a more agile production capability (Toyota, 2023).
Conclusion
As Toyota aims to solidify its leadership position in the automotive sector, it must navigate partnerships, leverage strategic acquisitions, and implement innovative practices aligned with global sustainability trends. The proposals delineated herein will prove vital in enhancing Toyota's revenue streams and market share in a competitive landscape characterized by rapid technological advancements and shifting consumer expectations. Through strategic planning and foresight into future industry trends, Toyota can continue to thrive as a leader in the global automotive industry.
References
- Doorley, S., & Seidel, T. (2018). The Future of Mobility: Understanding Self-Driving Cars and Urban Mobility. Business Horizons, 61(4), 539-548.
- Kagami, M., & Koike, H. (2020). Toyota's Innovation Strategy and Market Leadership. Automotive World, 15(2), 6-12.
- Katz, J. (2021). The Evolution of Lexus: Creating a Luxury Automotive Brand. Journal of Marketing Development and Competitiveness, 15(1), 20-30.
- Panasonic. (2020). Toyota and Panasonic Form Joint Venture for Automotive Prismatic Batteries. Retrieved from https://www.panasonic.com/global/press/image/2020/toyota-panasonic-jv.html
- Toyota Motor Corporation. (2023). Sustainability Report 2023. Retrieved from https://global.toyota/en/company/sustainability/report/
- Toyota Motor Corporation. (2023). Annual Report 2022. Retrieved from https://global.toyota/en/ir/financial-results/annual/