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Introduction of Toyota
Introduction of Toyota
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Jorge Lopez
Houston, TX 77035 cocolopz1@gmail.com 6/11/2018
James Lentz
Chief Executive Officer
Toyota Motor North America, Inc
6565 Headquarters Dr, Plano
Dallas, TX 75024
Dear James Lentz,
Your ad for financial analyst caught my attention as I prepare to finish college and join my fellow blue-collar workers. I am currently a junior at the University of Houston-Downtown and I am majoring in finance. The main reason I am writing this letter is that my dream job is to work for Toyota the biggest car manufacturer in the world.
While researching your company I was amazed that Toyota is 5th on the list of Fortune 500. Even more astonishing is that Toyota is the fifth-largest company in the world by revenue and the biggest automobile manufacturer. Every year your company sells millions of cars globally. With that many cars, Toyota needs a lot of people who know business and related fields like accounting, marketing, finance, etc. Another reason I want to work for Toyota is that they pay well and offer great benefits. I realized that most of your jobs I am interested in are located in Plano, Texas
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It is called the "Guiding Principles at Toyota" and it has 7 main points. The first point is to always obey the law to be a good corporate citizen. The second point is to always respect the culture and traditions of every country and to improve that country economically and socially. The third point is to maintain a clean environment and enhance the quality of life. The fourth point is to create advanced technology and provide excellent products for the customers. The fifth point is having individual creativity and value teamwork. The sixth point is to grow in peace with the world through innovation. The last point is to work with business partners to achieve growth and mutual benefits. After reading Toyotas code of ethics I feel like I am a perfect match and would be a great asset to
In the book, If Aristotle Ran General Motors, Tom Morris argues that the teachings of the ancients can and should be applied to today's corporation. His message is that the four virtues - truth, beauty, goodness, and unity - form the foundation of human excellence. Putting them into practice leads not only to self-fulfillment, but ultimately to an open, nurturing, and ethical workplace that is more productive and successful in the long-term. The purpose of this essay is to examine how Morris treats the system of ethics in relation to these four virtues.
Employees should be trained and familiar with the Code of Ethics and follow the lead of their referent managers when dealing with the customers of Paradigm Toys to ensure they are fulfilling their corporate social responsibility. Employees- The board of directors should make sure that their managers are training the employees on the Code of Ethics. Employees and managers should understand the importance and expectations that the board of directors requires of them to make sure they are performing ethically and maintaining the highest social responsibility.
Trevino, L., & Nelson, K. (2011). Managing business ethics - straight talk about how to
In today’s society, business is a melting pot of diverse cultures. With the present technology, the distance between locations has become virtually borderless. Different backgrounds produce different understandings of very basic concepts, like what is right and what is wrong. Simply stated, right versus wrong is the definition of ethics. First, this paper will discuss key areas that are of significant importance to the business. Second, this paper will converse ways a company can ensure employees follow codes of conduct. Finally, this paper will confer ways a business can engage in socially responsive
An organization needs to adhere to ethics in order to effectively implement its mission, vision, and objectives in a way in which offers a solid foundation to management and their subordinates to properly develop and implement its strategies. By doing so, the organization as a whole is essentially subscribing to one commonality that directs all of the actions of the employees of the organization. Additionally, it assists in preventing such employees from divergence in regard to the proposed strategic guideline. Ethics additionally ensures that a strategic plan is developed in accordance to the interests of the appropriate stakeholders of the organization, both internal and external (Jin & Drozdenko, 2010). Likewise, corporate governance that stems from various regulatory parties makes it necessary for organizations to maintain a high degree of ethical standards; this is done by incorporating ethics within the organization’s strategic plan so as to foster a positive corporate image for the stakeholders and general public (Min-Dong Paul, 2009).
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.
The work emphasizes that having business ethics and a code of conduct can be a preventive medicine. The intended audience is the general public, management team, large businesses that have yet to create and develop a code of conduct, and businesses who are searching for a solution towards resolving ethical dilemmas in their workplace. The relevance of this work to our topic is it’s unique outlook on how the code should not only be developed with HR and the legal departments with the only intention of keeping policies legal but to see it being navigated by top management. It will also help us establish the usefulness of the code of conduct in relationships with stakeholders. A special feature of this work is the large-scale of sections it has on the topic of code of ethics. It contains a content section at the very top of the article that helps navigating toward sections easier. It also includes quotes from CEO’s, ethics professor Stephen Brenner form the Journal of Business Ethics, Twin Cities-based consultant Doug Wallace, etc. The writer of this article is Carter McNamara who has a MBA and PhD who specializes in organizational development and
Nowadays, society is governed by the implications of rules and legal restrictions. All of these rules were created to uphold and maintain the idea of ethical and moral values. Even children growing up were taught by some very important codes of ethics at school. These lessons learned as a youth growing up carry over into adulthood, as an employee or manager. Managers and workers both follow a similar code of ethics within the work place. Today, as a management consultant, I am going to prepare a code of ethics for my clients as they have recently started a restaurant called Knox, it is important to have a code of ethics in every company for their employees and also a circular by explaining the purpose and benefits of a good ethics. And finally, a brief report on the steps of strategic formulation and implementation.
Many laws have been put into place to make sure corporations act ethically, so they do not harm people or the environment. Corporations have a social responsibility to follow these laws and various other ethical actions; Johnson & Johnson, considered to be one of the most admirable companies according to Fortune, is one company that included their corporate social responsibilities in their code of ethics. Their code of ethics states that executive officers cannot financially benefit from unethical transactions or that their management must be competent and ethical (Code of Business Conduct, 2015). It is important for corporations to act ethically and hold up to their social responsibility, especially within the workplace; ethics are especially
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 issues in automotive industry resulted from a lack of moral and ethical obligations to loyal customers. In fact, people encounter ethics at one time or another. A business expectation is to act in manner upholding society values. According to authors Trevino and Nelson, (2004) states, “a set of moral principals or values, or the principals, norm, and standards of conduct governing a group or individual.” On the other hand, three ethical criteria determined in this discussion like obligation, moral ideas, and consequences which this article highlights an ethical dilemma with automobiles makers.
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.
(5) Liker, Jeffrey K. The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer. New York: McGraw-Hill, 2004. Print.
Business Ethics are much more than the buzz word stories on late night news. The Corporate Social Responsibility of a company goes well beyond that. “Business Ethics are moral guidelines for the conduct of business based on notions of what is right, wrong and fair.” (Bellow, 2012). Individual backgrounds play a huge role in person by person code of conduct can vary from employee to employer. To help solve some grey areas in what is ethically correct, companies now make a code of conduct that is over everyone in the company. This code of responsibility helps employees have better understanding of what is required of each and every one of them. “Corporate Social Responsibility is a business philosophy which stresses the need for
Toyota’s new structure introduced in 2003 reduced the number of directors, and introduced senior managing directors, who link management with on-site operations. This has led to prompt decision making that also reflects the opinions of on-site personnel.