Unit 7: Business Strategy
Define the terms and state the mission, vision, objectives, goals and core competencies of Toyota.
Mission and vision statements are the words leaders use to explain an organization's purpose and direction. When expressed clearly and concisely, they can motivate your team, or the organization as a whole, with an inspiring vision of the future. Mission statements and vision statements do distinctly different jobs.
Mission - A mission describes the organisation’s basic function in society, in terms of the products and services it produces for its customers
Vision - a long-term view, sometimes describing how the organization would like the world to be in which it operates.
As stated on their website www.toyota.com Toyota’s mission and vision are:
“Our vision - Most respected and admired company. Our mission -We deliver outstanding automotive products and services to our customers, and enrich our community, partners and environment.”
Objectives -statements of specific outcomes that are to be achieved
Toyota’s objectives are:
* To enhance customer satisfaction by providing high quality service and value for money.
* An aggressive customer satisfaction programme from showroom to parts and to workshop to foster customer relationships.
* To maintain the market share of Toyota in Yemeni market.
* To service the Nation and the upliftment of society.
* Ethical approach towards customers and foster the need of the customers. (www.toyotayemen.com)
Goal- This is the end result.
One of the most important principles of Toyota is that long-term goals should take precedence over short-term profits. Toyota believes that as long as they continue to invest in long-term research, development, and in their people that they will have met their business goal of maintaining their unique business philosophy. This is also why they make such a deep long-term commitment to the environment. One of...