CEO Project for Toyota
The implementation of a successful strategic plan takes into account several aspects of the proposed plan. This implementation includes the assimilation of the organization’s mission and values and the general objectives of the strategic plan into every aspect of implementation. The implementation is only done after the formulation of a sound strategic plan that is designed to help the company meet its goals in all areas in which it operates. Given the company’s widely successful history in product sales all over the world, implementation of a strategic plan to achieve short and long term goals would have to take into account Toyota’s huge global market and must be carried out in well-coordinated phases.
The implementation of the strategic plan must also address the different aspects of the company’s ultimate goals, taking care to assimilate the company’s core values, vision and mission into that implementation .Implementation has to take into consideration budgetary factor sand address itself to them. Finally it is imperative that both internal and external factors affecting company intended goals and objectives be taken into consideration so that mitigation and contingency plans are set in motion.
The key objective of Toyota as a motor vehicle company is primarily the sale of cars and car parts. This therefore should be given the first priority in consideration during implementation of strategic pan. Among the internal factors that are considered in a strategic audit are production quality, human resource factors, product prices and leader ship. The sale of vehicles is mainly determined by the creation of vehicles that are of exceptionally high quality, diverse functional capabilities, aesthetically pleasing as well as adaptable to different customer needs. The company should therefore include the setting of measures to ensure this happens. Emphasis of vehicle quality should be immediately addressed by setting up quality tighter control measures at each step of production of vehicles. All parts that go toward the production of vehicles should be of utmost quality standards. Toyota should raise the benchmark for quality in all its parts and vehicles. This includes the use of improved and more efficient materials.teh company should also set in place ways to harness new technology to produce more efficient motor vehicle parts and to do so more efficiently.
Technicians, engineers and the entire human resource force should be taken through periodic training sessions where emphasis on quality, meticulous work and creativity is made. The use of computer and other modern technologies should be employed in every area of production to ensure perfection in the creation of quality cars. Technology could also be used to encourage superior designs in new vehicles.
The production of excellent motor vehicles also involves dedicated efforts to invent new technologies and work with existing ones to improve the functionality of cars as well as diversify their range of capabilities .In this regard, employees should also be continually encouraged to be creative and come up with new ways of improving Toyota vehicles. Incentives should be provided to workers for creativity. As has been its tradition, the company should continue to use inherent talents in its employees for the company’s good. Toyota has in the past explored the use of competitions, such as design fares and competitions to generate new ideas for their vehicle. These efforts should be structured so as to include more people, which translates to more intellectual resources and therefore more ideas.
One of Toyota’s goals lies in its commitment to respect the planet and the environment. Implementation of this objective involves concentration of the company on the production of vehicles that use alternative energy as opposed to fossil fuels. These include the use of hybrid cars, electric cars or those that make use of fuel cells. This will reduce carbon emissions into the atmosphere therefore avoiding pollution. The manufacture of the vehicle parts should also be done in a way that does not pollute the environment.teh company should also intensify recycling ld vehicle parts to produce new ones. The company should generally put in place measures to reduce its waste and harmful by products.
The leadership of the company should implement new and improved leadership models that encourage open communication between all levels of leadership in the organisation. System should be set up in the organisation, that encourage communal ownership of the company so as to nurture loyalty for the company among employees as well as customers. Vehicle prices should be closely monitored so as t constantly ensure affordability and competitiveness in the industry. There should be intensified efforts to create maintain and protect brand loyalty. Financial and human resources should be set up strategically to ensure that areas which need them are able to access them.
Following an analysis of external factors that affect the company, measures should be p in place to take increased advantage of the opportunities that are presented by the external environment. In the same regard, mitigation strategies and contingency plans should be set p to deal with threats or potential threats to the company. The said opportunities include new markets. The company should intensify its entry into new and emerging markets globally. Aggressive marketing through advertising should be invested in so as to venture into new markets especially in growing economies. Increased globalisation and due to improved ICT technology globally means that the company can extend it s reach and therefore increase its market. Toyota should take advantage of this technology to advertise widely and widen its market pool. Advances in technology should be exploited to create improved vehicles to satisfy customer demands and create brand loyalty. Measures should be set in place to constantly monitor competition in the industry and address developmental needs in Toyota vehicles so as to constantly be able to compete in the industry. External factors at play in different countries which form Toyota’s markets should also be considered and mitigation plans laid out to deal with potential threats. These may include political unrest which may affect markets, law amendments, international conflicts or sanctions, and unstable global economies. Task forces should be set in place to ensure that are able to forecast different situations and set in place to counter them.
References
Hunger, J.D. & Wheelen, T.L. (2007). Strategic Management and Business Policy, 11th Edition. New Jersey: Prentice Hall.
