Toyota: The History of Success

Toyota products were in high demand worldwide and they had a time when they felt they might not be able to meet the demand of customers but they were selling as normal routine and increase the production with huge volumes and increase the manufacturing speed. Contacted and started working with more suppliers for different parts which they are used to buy from different suppliers. Toyota Executives and Mr. Akio Toyoda had a strong feeling that working with new and more suppliers might give a bad impact for their quality and they might not be able to control well. They had very busy and high demand for their cars instead of finding good solution to cope this situation they didn't go for more alternatives like booking, reservation for cars instead of doing this they gave focus on rapid expansion.

In 2008 Toyota overtook GM and automotive industry announced Toyota the world biggest carmaker. But after that complains started arising and more customers stated blaming about the quality controls because of their rapid expansion. Due to the rapid expansion they recalled more than eight million cars in year 2009 the brake and accelerator defects and bearing, defending their selves against 98 lawsuits due to the deaths, injuries and damages happened to customer who were using their cars.

Toyota is worldwide famous and well known company because of their high quality manufactured cars, Toyota is doing very well and growing very fast globally they have their operations, manufacturing facilities and valuable loyal customers all over the world. The new technology Hybird in Toyota cars gave a new pride to Toyota and the sales of Toyota going up day by day. In last few years Toyota became number one in automotive industry and became a number one in mostly selling their cars worldwide. Below chart shows the figures of manufactured cars in 2008 and the chart is showing other companies production also.

Toyota is headquartered in Toyota City, Aichi and in Tokyo. Instead of automobile Toyota also provides financial services through its division Toyota Financial Services and also builds robots for different industries. Toyota Motor Corporation its financial services and Toyota Industries all together form the bulk of the Toyota Group and one of the largest conglomerates in the world.

In 1933 company was founded by Kiichiro Toyoda. In 1934 department of Toyota industries manufactured first product the product called Type A engine and its first passenger car AA in 1936. Toyota bought some other companies also and own and operates Lexus, Scion, Daihatsu and Hino Motors and shareholdings in Fuji heavy industry, Isuzu, Yamaha, and Mitsubishi Aircraft Corporation. All these and some other in total includes around 522 subsidiaries.

Toyota, a popular Japanese brand, pride of Japan and renowned as fifth largest corporate listed by annual revenue of $254.7bn. as of March 31, 2017, was Initiated in 1937, it was first abstracted by Sakichi Toyoda in 1924 later his son Kiichiro Toyoda succeeded and Toyota Motor company came into existence, Toyota Motor Corporation is a Japanese firm that involves in the designing, manufacturing, assembling, and sale of passenger cars, minivans, commercial vehicles, and related parts and accessories chiefly in Japan, North America, Europe, and Asia. Contemporary makes include Toyota, Lexus, Daihatsu and Hino.

Toyota Motor Corporation is the leading auto manufacturer and the fifth largest company in the world. As of March 31, 2017, it employed 364,445 people. Making it obvious that the company’s managerial structure is complex and very systematized for efficiency and effectivity. The basic management elements are strictly followed by Toyota to boost their production for ecstatic results and profit, making it a very successful, challenging and eminent company in the present-day world.