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Speaking about the SWOT analysis of the company, it should be noted that it requires detailed analyzing of the companies activity, its internal and external environments and is very important for understanding current business situation of the company in the global market and developmental perspectives in different areas. This essay would provide an examination of Toyota Inc. SWOT, which give us an ability to understand current position of the company on the market. The SWOT analysis is based on the data provided by the company, its annual reports, financial statements and other related documentaries. The most recent results demonstrated by the company on its official states characterize the position of the company on both – local and international markets – as very strong and mainly increasing.
Strengths:
– Toyota Corporation could be regarded to as a global organization. Its international position according to the recent statistical data is really strong and its departments are already present in 170 countries of the world (Toyota Motor Corporation, 2010). The creation of global industry all over the world made the position of Toyota on the highly competitive market very strong. It should be noted that it adds to popularization of the brand all over the world.
– The developments of the brand image representing the quality of the production, environment friendly techniques involvement and wide customized range. It should be noted that each of this points adds a lot to the creation of the strong brand name. The quality of the production let Toyota to compete equally with various strong car brands from different countries. The development of environment friendly cars (Toyota provides several varieties of hybrids, which corresponding to the needs of the masses). The current environmental situation is perfectly used by the brand name developers, as they were well aware about the effective trend and developed appropriate solution, which make the brand more popular and stronger, especially in the United States and European Markets.
Weaknesses
– Among the most often mentioned weaknesses is the fact that Japanese car manufacturing company is always seen as the foreign developer and importer. It goes without saying that for those who prefer nationally developed products. The foreign manufacturer, even providing high quality goods is often related to as something unknown and threatening. That is why a number of the potential customers prefer to use local manufacturing solutions (cars also) as they consider them more reliable than the ones provided by the foreign company. That is why being a foreign developer puts the manufacturer in quite unfavorable position and the core idea is to break through the stereotyped thinking and implement global ideas. This issue is closely related to the one more weakness
– It is a well known fact that Toyota manufacturing powers are mainly located in Japan and the United states. This puts the company in quite unfavorable position as the other competitors on the car market are available to use the global effective solutions and locate their manufacturing powers in the countries, which are strategically more effective than the others.
Opportunities
– Innovation as the core solution made the position of Japanese companies more comfortable on the different markets. Toyota is not an exception either. Among the most effective innovative solution was mass production of the hybrid vehicles (gas and electric). With the growth of the prices on the oil and severe problem of the environmental problem all over the world, this massive production of the hybrid car provided a huge opportunity for the company’s development on the market, creating available cars with the alternative fuels, with the normal prices
– Another very important opportunity is production of the vehicles, which are more fuel efficient. As it was mentioned earlier the oil and environmental crisis provided great developmental opportunities for such companies as Toyota is. And they did not stop on the inventing of the hybrid models, which are environment friendly, they developed the cars, which are using fuels more effectively and with less damage the environment. It goes without saying that this also broadens developmental opportunities for Toyota as an international corporation.
Threats
– It is a well known fact that the competition on the market is increasing every year. Toyota has to meet the counter strategies of the other competitors, deal with the increasing pressures from the side of the other competitors and develop responses on their solutions. It goes without saying that it demands high professionalism and quick operations from each member of the team of such a huge corporation. There are a number of oppressive factors in the market competition and they should be taken into account
– The demographical crisis in the well developed countries could also be called one of the most significant threats. It decrease the number of the big family cars and causes the development of the new strategies oriented on the other target group and make a shift
This SWOT analysis provides clear description of the current state of things in Toyota and provided perspectives for its further development on the market. It should be noted that the situation is constantly changes and the most recent data should be taken into account, when analyzing the company’s development in the particular environment and providing developmental opportunities for its future.