Tui Mgt 499 Module 1 Case
Trident University International
MGT499 – Strategic Management
Module 1 Case
Core Professor: Dr. Sara Garski
International Mega Corporations enter into history only if they are successful. The success of a multinational corporation can only be reached through consensus and balance of interests: stakeholders’ needs, company’s own vision of business requirements. Do they agree in views? From first reading, the Toyota’s vision and mission statement related to the needs and benefits of the stakeholder. Although a couple of years ago no one would doubt it as a fact, but after the recent scandal the situation proved to be entirely opposite. Recently, a new global vision was released by the Toyota Corporation. It has reconfirmed Toyotas commitment to the stakeholders with an additional commitment to the environment also. It seems that Toyota put profit higher than any business ethics and the most essential customer need – safety. Toyota choices to increase production and not focus on the fundamentals strengths of the teams eventually erased 50 years of work and millions of dollars for a fast and dishonest profit. The stakeholders might be any group of people involved in business interactions with the company. Among most significant for the business success are customers, employees, and shareholders. The customers want and need quality and awareness of the product they are paying for. This includes correspondence of the product technical condition to the safety requirements; functionality of the mechanisms due to the guarantee; provision of customer with all product information. The employees expect to have the decent job opportunities with the appropriate reward. The shareholders expect to make a profit from the company’s successful sales and business conduct (Pearce J.A., & Robinson R.B., 2003). In regards to the stakeholders of the Toyota Corporation, Toyota’s aggressively implemented a variety of measures to
MGT499 – Strategic Management
Module 1 Case
Core Professor: Dr. Sara Garski
International Mega Corporations enter into history only if they are successful. The success of a multinational corporation can only be reached through consensus and balance of interests: stakeholders’ needs, company’s own vision of business requirements. Do they agree in views? From first reading, the Toyota’s vision and mission statement related to the needs and benefits of the stakeholder. Although a couple of years ago no one would doubt it as a fact, but after the recent scandal the situation proved to be entirely opposite. Recently, a new global vision was released by the Toyota Corporation. It has reconfirmed Toyotas commitment to the stakeholders with an additional commitment to the environment also. It seems that Toyota put profit higher than any business ethics and the most essential customer need – safety. Toyota choices to increase production and not focus on the fundamentals strengths of the teams eventually erased 50 years of work and millions of dollars for a fast and dishonest profit. The stakeholders might be any group of people involved in business interactions with the company. Among most significant for the business success are customers, employees, and shareholders. The customers want and need quality and awareness of the product they are paying for. This includes correspondence of the product technical condition to the safety requirements; functionality of the mechanisms due to the guarantee; provision of customer with all product information. The employees expect to have the decent job opportunities with the appropriate reward. The shareholders expect to make a profit from the company’s successful sales and business conduct (Pearce J.A., & Robinson R.B., 2003). In regards to the stakeholders of the Toyota Corporation, Toyota’s aggressively implemented a variety of measures to
References: Mitsuru Misawa (2007). Cases on international business and finance in Japanese corporations. Hong Kong, HK: Hong Kong University Press. Pearce, J.A., & Robinson, R.B. (2003). Strategic management: formulation, implementation, and control. New York, NY: McGraw-Hill/Irwin Toyota-Global.com (2009)