Toyota: The Once-in-a-Century Challenge
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Case Code: BSTR362 Case Length: 16 Pages Period: 2006-2009 Pub Date: 2010 Teaching Note: Not Available |
Price: Rs.500 Organization: Toyota Motor Corporation Industry: Automotive Countries: Global Themes: Business Policy, Strategic Management, Leadership and Change |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On June 23, 2009, Akio Toyoda (Akio) took over as President of Japanese automaker Toyota Motor Corporation (Toyota). Akio's appointment came in the wake of the company reporting its first losses since 1963, the year it began reporting business data.
Analysts felt that the global financial crisis had had its impact on the world's largest automaker and that the company was also trying to cope with a shift in the global automobile industry. The challenge before Akio, grandson of the founder of Toyota, was to bring the automaker back to profits.
The business segments of Toyota mainly include automotive operations, financial services operations, and other business operations.3 Automotive operations accounted for 89% of Toyota's total revenues in 2008. The company manufactured vehicles at 53 production sites in 27 countries around the globe. In the fiscal year 2008, Toyota sold approximately 8.91 million vehicles in 170 countries and regions under the Toyota, Lexus, Daihatsu, and Hino brands.
North America was its biggest market followed by Japan, Europe, and Asia. After booming sales through 2007, which also saw the company dethrone General Motors (GM) as the world's leading automaker, Toyota's sales were hit hard in 2008. The company decided to opt for a change in leadership and appointed Akio as President. Akio immediately announced a slew of measures in a bid to bring the company back to profits...
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