Introduction
Every company must have a mission statement. A mission statement shows direction of the company. Moreover, it ensures that objectives of the company align with its mission. This paper will explore Toyota’s mission statement. It will also investigate if its strategies are aligned with the mission statement.
Mission statement
A Mission statement provides direction for a company. This is essential in defining its objectives as well as strategies. Toyota is an automobile manufacturing company. Its mission statement is to move people in a better way. Precisely, it has a global mission. Its mission states “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people.”
Current strategies
The company has established numerous strategies to pursue its Global mission, these include:
- Commitment to quality
- Respect for planet
- Constant innovation
The company has utilized these strategies with a view to reaching its mission statement.
Discussion
Toyota has presence all over the world. In fact, the company has continued to provide affordable quality automobiles to its range of customers. Moreover, it has implemented flexible structures that enable it to reach out to different groups of customers. For instance, the company has introduced Toyota certified used automobiles for its low-income customers.
The first strategy employed by Toyota is to commit to quality. Toyota has an operation segment that designs and supplies quality automobile to its customers. Toyota conducts quality assessment on its products to ensure compliance with the latest regulation on safety and quality.
Moreover, the company has employed mechanisms to communicate with their customers and dealers with a view to ensuring quality of automobiles. Recent recall of specific brands of Toyota automobiles is an evidence of commitment to quality, even after sales.
This strategy has ensured that Toyota command the world’s market in volume of sales. This strategy therefore goes a long way in strengthening its mission statement of moving people in a better way. The second strategy is to commit to constant innovation. The world is ever changing with various technological advances aimed at making life easy, being explored.
Toyota has committed its finances in research and development to improving and innovating new technologies for better automobiles. In essence, the company spends on research and development for innovation with a view to improving ways of moving people. This strategy aligns with the company’s mission since it aims to give people better technology that moves them in a better way.
The third strategy is to commit to respect for planet. The planet is faced with increasing challenges with regard to its conservation. Issues such as global warming, among others, have put pressure in companies to reduce greenhouse gas emissions. Toyota is committed to this initiative.
In fact, the company has proved this by manufacturing environment friendly automobiles. Moreover, it has made steps to contribute to environmental conservation efforts through participation and contribution. This shows that the company values its community and aims to move them in a better way as confirmed in the mission statement.
Conclusion
Toyota has a mission aimed at bettering the movement of its customers. This has enabled them to establish mission friendly strategies namely, commitment to innovation, quality and the planet. Toyota is therefore committed to its mission statement through the strategies employed above.