Strategic Recommendation for Toyota
Strategic recommendation for Toyota Introduction The growth of emerging markets and their potentials have lured companies all over the world to expand into new markets and get a piece of the benefits . Generally , companies are looking for countries or market that possesses low-risk and high potential markets as a vital source of growth . Nevertheless , this does not mean that these companies have all that it takes to gain such benefit from its undertaking .
Most companies generally lack the knowledge and understanding of the new market to perform such an undertaking There are significant differences between the new emerging markets compare to developed ones in the United States or European countries These differences could sometimes be huge obstacles to gain economic benefits from the new markets . However , with the right perspective and the proper treatment , companies can facilitate tremendous amount of growth from the benefits gained from the market .
Choosing or identifying the right market for business expansion is crucial for getting the full benefit of the emerging market . Afterwards , strategic planning and marketing schemes seem to be the key for successful penetration of the market (Heakal , 2003) These steps are important since business environment contains numerous influential factors this undeniable connection is what made strategic management a dissimilar challenge for each business design .
In to cope with such challenge entrepreneurs generally used several analysis tools that will help them discover the competitive advantages of their business and take advantage of them for the improvement of their companies Concerning the analysis of a company ‘s strategy , this will discuss about the strategy of Toyota in dealing with the fierce competition in automotive industry in the world .
The discussion includes the company ‘s strategic planning vision , mission , and environmental analysis like PESTEL , Porter ‘s Five Forces analysis , Value Chain , Strategic Decisions and 7 : SWOT Analysis . Prior to the discussion , this will elaborate the corporate background identifying the current products of Toyota