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japan's industrial revolution
background of toyota
japan's industrial revolution
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It was initiated by a productive inventor, Sakichi Toyoda, who was born on the fourteenth day of February, 1867. Toyoda grew up as the son of a poor carpenter, but is considered the “King of Japanese Inventors.” He is also believed to be the father of the Japanese industrial revolution. With his breakthrough invention of the automatic loom, Toyoda, took the resulting money to create the Toyota Motor Company. A huge contributing factor to the birth of this company was the support of the Japanese government during the war in Manchuria. The first engine was developed in 1934, and the first car and truck were constructed the following year. In the post-war year of 1945, Toyota began fast expansion after the authorization from the United States military to spawn peacetime production. At first, the main focus of the Japanese company were there manufacturing of trucks. The Toyopet, “the first truly popular Toyota car,” was built in 1947. In the proceeding five years the company built only two hundred and fifteen cars of this model. By 1955, they were fabricating 8,400 cars per year, a decade later the company ascended to 600,000 cars per year.
The internationalization of the company began in 1958, when Toyota started marketing cars in the United States. The first two vehicles imported to the U.S. were the Toyopet and Land Cruiser. Even though the Land Cruiser had better margins, the Toyopet set up for the strategy of a car modified specifically for the American market. We are very familiar with these models still today; they are the Avalon and the Camry. Brazil was the first country in which Toyota constructed a production plant outside of its national borders; this took place in the year of 1959. One very important philosophy the company went by was to localize both the production and the design of its vehicles. This philosophy developed long-term relationships with local suppliers and labor considering the adaptation of products to the locality of use, along with production being there as well. This action gave forth to the implementation of R&D and design facilities in North America and Europe.
The first truly Americanized Toyota was the Tiara, also known as the Toyota Corona PT20. This vehicle hit the market in 1964. The car could hold up to 6 people and had about ninety horses under the hood.
Seeing a Ford Model T or A driving down the road is a snap shot of history of American motor vehicles. Henry Ford revolutionized the automobile industry and set the standard for manufacturing products on an assembly line. In 1903, Henry Ford opened Ford Motor Company with $28,000 and sold his first Model A to Dr. E. Pfenning, a physician from Chicago, Illinois (Ford Motor Company, 2013). Since that first vehicle, Ford Motor Company has gone on to sell over 300 million vehicles.
After two unsuccessful attempts to establish a company to manufacture automobiles, the Ford Motor Company was founded in 1903 with Henry Ford as vice-president and chief engineer. (Editors 9.) The small company produced only a few cars a day at the Ford factory on Mack Avenue in Detroit. Groups of two or three men worked on each car from components ordered in by other companies. (Yenne 45)
In 1886 when the first car was ever made and replaced horse drawn carriages, they were the toys of the rich. Today, cars are made as the toys of the world. The era of cars has revolutionized the way the people get from one place to another. Henry Ford became the creator of the first car which he called the Ford Model T. Though there was nothing special about it to today’s human eye, back in the day it was what changed how everybody transported themselves from place to place.
The first car invented was the Benz Patent-Motor Wagon. The car was introduced in January 3rd 1886 by Carl Benz. This car was run on a propelled motor and only had 9 horsepower. Carl Benz the inventor of the car made around 25 of these vehicles between 1886 and 1893. The second known automobile was the Ford Model T, it was also known as Tin Lizzie, Model T ford and T-Ford Model. The inventor of this vehicle was Henry Ford, The car began production in October 1st 1908. This car was made especially for middle class Americans and was the world’s most influential car in the 20th Century according to a poll. The car was designed by Childe Harold Wills and a couple of Hungarian immigrants. It was a 2 speed vehicle and had rear-wheel drive, the car had 3 pedals: the left pedal which was used to engage the car and turn it on and the center pedal was used to put the car in neutral and the right pedal which was used to move the car forward. By 1918, half of all the cars in the United Stated were Ford Model T’s, from 1908-1912 the Ford Model T was not avail...
The Toyota Prius is the world's first standard-production hybrid-electric vehicle (hence the name, which, in Latin, means "to go before.") The Prius is meant to be a fully usable replacement for a family or fleet vehicle. It gains fuel economy through clever use of technology, rather than through downsizing, so it is a comfortable family car - no pitiful acceleration, shaking and rattling, or impossible-to-fit-in dimensions.
The vehicle manufacturing plant is located at Burnaston in Derbyshire, the engine manufacturing plant is located at Deeside in North Wales.(Toyota Manufacturing UK 2006 ) the company has, since production began in 1992, grown to its current size with 5,500 members are employed. As ...
Toyota Motor Corporation is a Japan based company, whose headquarters are located in Aichi Prefecture. The company was founded by Kiichiri Toyoda in 1937. Currently the company’s CEO is Akio Toyoda. Toyota is basically into cars and it is one of the top players in the world in this industry. Toyota also owns two other brands namely Lexus and Scion, which gives the company a lot of advantage over it’s other competitors. Toyota manufactures sedans, saloons, suvs, muvs, pick-up trucks and buses. During the year 2013 Toyota had approximately 333,498 employees, who were working globally. In March 2013, Toyota was ranked as the thirteenth biggest organization globally in terms of its revenue. In the following table we can see the financial report of Toyota Motor Corporation in the year 2013-
Entering into the business of car manufacturing is very expensive and precarious. The opening capital investment is tremendously high, whereas the competition within the companies is very strong and under control of the well established businesses. The distinguished brand, steadfast market presence in a range of segments, and the huge size makes Toyota to be in a competitive advantage above new entrants in the car manufacturing industry.
As one of the leading automobile manufacturers in the world, Toyota ranks within the top three worldwide. Due to their unique business model, they are now have a market share of 14% in the first four months of this year. That is an astonishing 2.3% jump from the previous year. According to Autodata.com, the Toyota City based automaker ranks fourth in United States sales.
After General Motors (GM), Toyota Motor Corporation is the second largest automotive maker around the globe; although, Toyota ranks in first place in profit, revenue and net worth. Toyota was established by Kiichiro Toyoda in 1937, as a by-product of Sakichi Toyoda's Toyota Industries Company, to produce Toyota automobiles. Headquartered in Bunkyo Tokyo, Japan (as well as Toyota, Aichi); Toyota offers pecuniary services with their Toyota Financial Services division. Toyota Industries, along with Toyota Motor Corporation, make up the Toyota Group. The Toyota Group consists of Daihatsu Motors, Scion, Lexus, Fuji Industries, Yamaha Motors, Isuzu Motors and of course, Toyota Motors. Toyota Motor Corporation operates globally with the automobile industry, which includes 522 worldwide subsidiaries (Toyota, 2010) (Sagepub, n.d.).
Toyota seeks to revitalize their venture spirit by reforming their consciousness in light of the Global Vision through other efforts. Toyota Company has mostly focusing on the areas of development, design and procurement. As an example Toyota has been creating innovative synthesis of development and design through a new car making policy building better cars. By introducing different cars that meet local needs in rapidly growing emerging markets, the executive seeks on an increase in the share of Toyota global sales made up by emerging
The nonmanufacturing companies can learn and apply from Toyota’s philosophy and practices as listed below:
...l website and browse their showroom you will see over forty different vehicles, while in the United States there are only eighteen vehicles available from Toyota. Along with this, the vehicles sold in the United States market are generally have a cheaper interior quality then those sold in Japan or Europe. Even our domestic automakers sell us lower quality vehicle interiors.
First of all, Toyota has been very successful in differentiating on the basis of superior design and quality. This has led to Toyota being able to create a brand image that is very strong and one that brings to mind quality, long lasting cars when a potential customer sees it. The strength of Toyota’s brand image has been seen in recent years with the recalls and problems Toyota faced in dealing with these recalls. Toyota was able to survive these problems because they had such a long and proven track record of quality and superior. Another, area that Toyota differentiates is in technology. Toyota was the first successful mass produce the hybrid car on the market when it released the Prius in 2003. Being the first to get their hybrid on the market allowed Toyota to gain a large portion of the market share in the area of hybrid
Toyota Motor Corporation is one of the largest automakers in the world. At its annual conference in Tokyo on May 8, 2008, the company announced that activities through March 2008 generated a sales figure of $252.7 billion, a new record for the company. However, the company is lowering expectations for the coming year due to a stronger yen, a slowing American economy, and the rising cost of raw materials (Rowley, 2008). If Toyota is to continue increasing its revenue, it must examine its business practice and determine on a course of action to maximize its profit.