Introduction: Toyota is one of the most-known companies in the world, their products are widely used, they are building cars and trucks in more than twenty six countries and purchasable in more than a hundred and sixty markets around the world.Toyota’s Headquarter is located in Toyota city, Aichi and in Tokyo.
Rather than car, Toyota additionally provides financial services through the division of Toyota Financial Services and jointly creates robots for various industries. Toyota Motor Corporation with its financial services and Toyota Industries immediately recruits the majority of the Toyota cluster and one of the largest conglomerates in the world. Toyota is known all over the world, and the standard company belongs to its first-class factory cars, Toyota works well and is growing rapidly all over the world, they have their operations producing objects and valuable regular customers all over the world. The new Hybrid technology in Toyota vehicles has given Toyota a completely new pride, as well as Toyota sales every day. In the previous few years, Toyota has become an ideal car business and has become the world’s first to sell its cars around the world.
A key component of Toyota’s success is its commitment to the design, engineering and construction of cars in the world regions where they will be sold. In Europe, this national production policy was launched in 1989, the founder of Toyota Motor, which produces the UK, The level of production in the UK made Toyota a key player in the country’s manufacturing business. From most of its British production is intended for export, Toyota additionally makes a valuable contribution to the national payment balance. Burnaston is accountable for the world production of Toyota Avensis and has the main manufacturer of Toyota for the export of cars to the “home” market of the company in Japan. Brief history: The Toyota Motor Corporation had its starting in 1933 once it was established as a division inside the Toyoda Automatic Loom Works, Ltd. The founding father of Toyota was Kiichiro Toyoda (1894–1952), the son of Sakichi Toyoda (1867–1930).Toyota’s first car was released in 1935.
In 1939, the corporation continued forming a research center, and in 1940 the Toyota Science Center was established. After the Second World War, Toyota used most of the destroyed and worn-out trucks to create recycled cars. In 1947, two years after the end of the war, Toyota came up with a prototype for a small car, a type that American automakers did not notice. In 1949, this type of car was first released in Japan and was able to provide a top speed of fifty-four miles per hour. The state of the Japanese economy was in a dangerous form with rising prices and high inflation. But Toyota went to supply as many cars as possible. They created cars worth 3.5 million dollars, but could sell only 2.
5 million dollars worth.In 1951, Toyota first introduced the Land Cruiser model, which is now known all over the world.In that year they had a production plan for about five hundred cars a month. Toyota focused on the standard of vehicles and attached great importance to keeping costs as low as possible. Slowly Toyota turned into a well-known brand and increased production volumes gradually year by yearBy 1991, Toyota had sold more than a million cars and trucks to the US market. It controlled more than 40% of the Japanese automotive industry.
Soon, Toyota established itself in new markets, such as Latin America. Toyota started its activity as an inexpensive brand of cars, but soon made a decision about the luxury car brand in 1989, known as Lexus.The main source of Toyota’s new innovation and development were their research facilities that had a primary goal of improving and introducing new products and approaches to the market.
Toyota had already opened its production facilities in most of the key countries such as Russia, Turkey, Thailand, Canada, etc. in 1997, Toyota came up with the thought of releasing a automobile that combines a gas engine and electric motor that was ready to reduce carbon dioxide emissions by half. soon the demand for this eco-friendly vehicle exceeded the assembly capability that Toyota could .perform Toyota Motor Corporation competes in the automotive business. The last 5 years have been devastating for automotive producers. The growing cost of fuel and growing environmental problems have changed the preferences of consumers away from fuel pick-ups for more compact, more fuel-efficient cars. Some automakers adopted this amendment by increasing small portfolios and diversification in the assembly of hybrid electric vehicles.Toyota products were in great demand all over the world, and they had a time when they felt that they could not meet customer demand, but they continued selling as a routine and increased assembly with large volumes and speeded the production.
Toyota executives and Mr. Akio Toyoda felt strongly that working with new and additional suppliers might have an unhealthy impact on their quality and that they might not be able to control the situation well. But they contacted and started working with additional suppliers who buy various items that they use to buy from different suppliers.The rapid increase satisfied the demand of customers, however, step by step they began to receive complaints from their customers. In one period they learned about this problem, but did not restore it, and later it became a huge problem for Toyota, and many times recalls that it is very costly. Vision:In their vision statement Toyota signifies their long-term strategies in the automotive industry.
It states that the company aims to become a leader in the global market. The vision statement also shows that Toyota operates focusing on quality, innovation and environmental safety. Also, the company covers corporate social responsibilities in the vision statement. Accordingly Toyota’s vision statement is comprehensive because it captures the most important strategic goals for business leadership. Such as product quality, safety, social responsibilities and human resources.
Mission:Toyota’s mission statement is as follows: “Create vehicles that are popular with consumers.”To clarify, Toyota’s mission statement consists of following actions: · Protecting lives of customers by providing the higher safety standards.· Providing products that earn positive feeling from customers.· Improve the economic development of local communities with effective R operations.· The most significant mission and goal of Toyota is to “completely eliminate traffic casualties”.
Toyota’s approach to safety is to push a three main initiatives, vehicles, traffic environment, as well as continuing to follow their plan of real-world safety. Presently they’re developing technologies supported “Safety Management concept.” Real-world Safety is based on their continuous efforts to learn from real accidents. They firstly determine problems by analyzing causal factors of injuries and accidents. Next, they replicate crash scenes using actual vehicles or through a simulator. After developing and evaluating the results, which satisfy our performance objectives, they proceed with development. In this way, they believe that it’s possible for them to successfully develop effective safety technologies.
Innovation:Simply we can define Innovation as a process of translating a thought or invention into a product or service that creates value or for which the customer pays.The idea, which is known innovation, should be reproduced in accordance with economic costs and meet specific needs. Innovation involves the certain use of knowledge, imagination and initiative of large or different values ??of resources and includes all processes that generate new concepts and degenerate them into a useful product. In economics, innovations usually appears when approachesare applied by the company to meet the wishes and expectations of customers.Nowadays all companies are talking about innovation, most of them trying to generate innovation, although only few actually succeed in doing it. The reality is that most of the companies in some sense are afraid of innovation, because it always linked to risk. Therefore some companies try to avoid aggressive investments in innovation, even though the innovation is considered as being one of the important and significant part of a company.Innovation can be divided in two concepts:· Product innovation: is inventing new product, or a significant changes applied to an existing product.
· Service innovation: introducing of a new process of making or delivering a product.Another feature of two definitions of innovation is that the product or the process should be introduced to the market to allow customers or other companies to benefit. This differs innovation from invention or discovery. invention or discovery improves the stock knowledge, but it does not come immediately to the market as a complete new product or process. Innovations are carried out for this purpose of bringing new products and processes to the commercial market from the application of existing and new knowledge.The process of innovation consists of number of stages, at each stage the process requires knowledge, skilled people, special equipments, investment and time:In first 2-3 stage, the basic scientific knowledge are produces as well as the prototypes of new product or process.
In this stage the invention is made and the hard work of the inventors.The 4-5th stages cover the adaptation of the new product or process by the market. As consumers, or other firms in this stage start using this innovation, the inventors collect the feedback to improve the innovation, this stage is very important because the innovations are rarely perfect when they are first launched.
To understand the process of innovation, we should know what economists mean by Knowledge and technology, first of all, knowledge is a whole scientific data set and human expertise that could be useful in the invention and design of new product or process. Knowledge can be in different forms, such as formula, algorithms or even tactic, as when a person knows how to do things that are not recorded.Technology covers the current set of production technologies is used to designing, manufacturing, packaging and delivering goods and services to the economy. Therefore, technology is the application of selected elements of the knowledge stock for productive activities. Within the enterprise, depending on the technology used, the production capacity is determined after a combination with different input quantities.
The invention and detection will be added to the knowledge warehouse applicable to production. Some of the technological innovations mentioned above, in addition to the proposed production technologies, product innovations will participate in the selection of products facing the end customers.Management Information System:individuals, companies and in general, all organizations are receiving data continuously, many of this data are considered as unimportant. However, other part of collected data can provide a significant knowledge for better understanding of the environment around them, and themselves.
this usable data that we know as “information” helps them to make more effective and right decisions. For this reason, right amount of information is a key factor for every decision made within an organization. Business leaders make decisions, prepare plans and manage their business operations depending on the Information that they receive either from official sources or through informal channels, such as personal meeting, phone calls, social contacts, etc., managers are challenged with increasingly complex and unsafe environment.
Under these conditions, managers should theoretically able to identify and obtain the necessary information. This is often not What happens in practice. So, the managers are making decisions depending only on the information to which they have access. Therefore, the majority of choices made in the absence of absolute knowledge, or as a result of information absence can be the extreme cost of obtaining it. information should be sufficiently correct for managers’ purposes.
No data is totally correct, and spending more on data in chasing the greater accuracy does not always end in more valuable data. The degree of accuracy ought to be consistent with the importance of the decision to be taken and will vary according to the decision-maker’s level within the hierarchy. The degree of information accuracy needed can depend on the hierarchical level.Information Management System mainly related to the method collection, processing, storage and dispatch of relevant data to support management operations in any organization. In this way success of decision making, very dependent partly on the data received, as well as on functions of components of the process.
According to Alabi (1997) the search could be divided to 4 types:Undirected viewing: this is a general access to information. in this type the search could be that the researcher has no specific goal in mind.Conditioned viewing: the directed research does not require active search to a more clearly type of information.Informal search: This is a relatively limited and unstructured effort to obtain specific information for a specific purposeFormal search: this is an intentional effort, usually following a pre established plan or procedure, to get a specific information to specific issue.Comprehension: is what transfers data into information. Without understanding the information it can not add value, and decisions can not be made. here is some factors that might interfere the understanding of information: – User preferences.
Some individuals like information in graphs or charts, while others prefer a narrative description. Inevitably, thesevariations mean that a similar message will be understood in several ways.– Previous knowledge. Comprehension is that the results of memory in associationwith the received message.
– Environmental factors. group pressure, available time and trust within theinformation system all influence comprehension.– Language. information is codified in signs or messages.Purpose: The main purpose of the information management system is to make management decisions more efficient and effective.
By combining information from a number of sources into a single database and presenting information in a logical format, MIS can provide managers with everything they need to make informed decisions and conduct an in-depth analysis of operational issues.The ability to generate reports is one of the most useful options for the management information system. Internal reports present information in ways that managers can understand by including all relevant data and grouping the data logically. For example, a report viewed by a company manager through the chain of restaurants can show revenues, expenses, working hours and the volume of each exit, allowing him to check which store makes the most money per employee and which stores have higher costs than revenue and volume.Benefits of MIS:the benefits of Management information system can be both Tangible and Intangible.Tangible: these are the benefits that have an impact on the revenue, cost reduction, and market expansion. The cost reduction can be done by decreasing the amount of human resources included in the business, reducing operational costs such as supplies and overhead, the reduction of goods in warehouse stock.
Examples of reduction the number of human resources can be by involving the MIS in recording financial transactions, if previously they needed five people to manage the accounting system, after implementing a good accounting information system it can be done by one person.Intangible benefits can accrue in:increasing customer satisfaction: good MIS can reduce the time required to serve a customer.improving quality and quantity of decision making: it is clear that every decision making process heavily relies on information. the MIS will benefit in this situation only if it can provide relevant and accurate information for specific decisions.Improving quality of internal and external communications: with application of a good Information System, the exchange of information inside and outside the company will be easier and more effective.Improving quality of planning: any plat that is made should be supported by adequate amount of useful information.
Improving quality control and supervision: good Information system could enable the managers to monitor every activity within the company, and good monitoring will lead to a better control.Improved quantity and quality of information: The use of a good information system will certainly lead to the collection of data that is managed by a qualified and comprehensive database. This can be achieved for every reporting process that is automatically performed by computer machines.