Corporate Govenance- Business Strategy

Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: Formulation, implementation, and control (11th ed.). [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill. Retrieved August 20, 2011, fr

Cole, R. E. (2011). What really happened to Toyota? MIT Sloan Management Review, 52(4), 29-35. Retrieved from http://search.proquest.com.library.capella.edu/docview/875531966?accountid=27965

Strategic Management is the theory and practice of making decisions that shape the future of the firm. This course looks at the content and process of strategic decision making from the perspective of managers who are responsible for an entire business unit. These may be individuals who are acting in the capacity of a Chief Executive of a company, divisional General Managers, or departmental heads. It is also the perspective most

Carpenter, M. A., & Sanders, W. G. (2009). Strategic management: A dynamic perspective concepts and cases. (2nd ed.). Upper Saddle River, NJ: Pearson Education.

Kluyver, C. (2013). A primer on corporate governance (2nd ed.). New York, NY: Business Expert Press.

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

Toyota is making only "what is needed, when it is needed, and in the amount needed. Toyota is using impute from workers and their culture encourages employees to learn from their mistakes and successes and failures of each other.

Both Ford and GM completely abide by NYSE corporate governance standards, as they are domestic US companies. Ford and GM are required to strictly follow NYSE corporate governance standards. Toyota is permitted to follow certain corporate governance practices complying with Japanese laws and regulations, the NYSE has ruled that Toyota is exempt from certain NYSE corporate governance requirements. A significant difference in Toyota’s corporate governance structure is that the company currently does not have any directors that can be deemed as independent directors. Another major difference is that unlike domestic US companies Toyota is not required to have shareholder approval of equity compensation plans,

A current Situation Analysis is conducted which gives a better understanding of Toyota, its different products, competitors and different

Toyota is a key player in global automotive market. Its structure constitutes if various production plants in different locations and a very strong branding which helps it capture a major market share. Like other enterprises, Toyota has several strengths and weakness which makes it what it is now. Toyota heavily invests in Research and development which helps it come up reputable product line which is spread out throughout the world because of its strengthening global distribution network however its recent product recalling, loose grip in key geographic areas and wrong allocation of resources shows that even a strong brand like Toyota has its weaknesses.

It is arguable that Toyota’s ability to deliver on its ‘customer first, quality first’ policy is due to its organisational structure. Toyota’s organisational structure was based on a traditional Japanese business hierarchy in which the most senior executives. This centralised decision making system places the responsibility of all the decision processes solely on the most senior executives. This type of organisation structure is characterised by limited delegation of authority with all the information flowing downward. This structured was utilised within the global platform, which meant the production within American Toyota plants were heavily monitored by a Japanese counterpart. This was done in order to make sure that protocol was

HToyota is a company with excellent strategic management and has since the last two decades rise to a level of dominance in the auto-motive industry. Toyota is headquartered in Tokyo, Japan and is the largest producers of automobile in Japan as well as the second largest in the world. Toyota has aimed in produce similar quality products as its competitors but at a lower cost which has been the basis of its strategy. Theories of strategies are continuously utilized by Toyota, which has lead the company to be the cost and strategy leader it is today. Strategy can be defined as, long term direction and scope of an organization in order to gain a competitive advantage. As such is ca be said that Toyota is operating with strategy at the core of the business which has helped the business to realize a competitive advantage in the industry. There are many theories of strategy utilized in the operation of Toyota such as Resource based theory, behavioural role theory as well as human capital theory.

Toyota, one of the world 's leading car brands is known for its impeccable production quality and as a pioneer of the automotive industry. Becoming the largest producer of vehicles by surpassing General Motors in 2008, Toyota has become known for its strong business strategy, innovation and manufacturing prowess, priding themselves on quality and long lasting relationships with all they deal with, particularly suppliers. The intellectual capital of the business however was brought into question as their name began to become tarnished with an increasing number of reports of faulty equipment in a large amount of their cars, causing them to recall approximately 9 million cars by the end of the crisis as well as releasing a number of explanations and announcements as to what these issues were attributed to. This report delves into analysing and presenting information based on the case study, Toyota Crisis: Management Ignorance? to reach a logical conclusion for the benefit of the company.

There are several reasons why Toyota was chosen for this report. Some of them include the fact that Toyota managed to experience a significant growth in its global sales not only boosting its profits but pushing it to the top of the automobile industry. The other key issues that also became known include the design of Toyota global production and their distribution network. The principal purpose for any company to do a strategic planning is to develop a shared understanding by all stakeholders in a business, of the implications and trends that take place in the everyday business operations (Abraham, 2012). Through strategic planning, a company has the opportunity to develop its mission and vision statements. This help to describe and define the purpose of the company in relation to its operation and interests of its shareholders at a particular time. Through planning, companies are able to set achievable targets and consequently develop

Chapter 1 The Nature of Strategic Management Strategic Management: Concepts & Cases 14th Edition Fred David Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall Ch 1 -1  Learning Outcomes 