The Expansion of Toyota into Chinese Market through the use of its Management Model (eBook, PDF)
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Master's Thesis from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: A, Michigan State University, language: English, abstract: The modern day business markets exhibit extreme volatilities that make it difficult for their managements to rely on conventional wisdoms and past experiences when trying to effect best management strategies (Ova 2006, p.1).The selection of best management models has called for the top management to carry out intensive research in their organizations to determine their unique needs and challenges. As the effects of m...
Master's Thesis from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: A, Michigan State University, language: English, abstract: The modern day business markets exhibit extreme volatilities that make it difficult for their managements to rely on conventional wisdoms and past experiences when trying to effect best management strategies (Ova 2006, p.1).The selection of best management models has called for the top management to carry out intensive research in their organizations to determine their unique needs and challenges. As the effects of modern day globalization continue to pose considerable challenges to the existing management patterns, current managers have been called upon to 'upgrade' their skills to cope with the ever changing and demanding business situations. Though there have been a number of challenges for modern day businesses to overcome, it should be noted that the selection of proper management models to address these challenges has business practically implemented across various business organizations. This study aims to demonstrate how selection of the best management models can lead to accumulation of a number of benefits for business enterprises. The study selects the expansion of Toyota into the expansive Chinese market through the use of its widely acknowledged management model. There were various reasons cited for the choice of the model in this market. Some of the key reasons cited in defence of the selection of the model included the need to embrace hybrid technology to answer to the needs of the shifting auto-market towards more fuel-efficient car models. Other reasons cited for the use of the models included the need to reduce on the production costs as well as the need to overcome the stiff competition as posed by Toyota's rivals amongst them General Motors, Kia Motors, Honda Motors and Ford Motors. A variety of challenges stood in waiting for Toyota, having made a late entry into this lucrative but challenging auto-market. Key amongst them were the increasing energy costs that led to the increased costs of production, the few number of skilled manpower that made it difficult to implement the 'complex' processes of the model, the very demanding Chinese auto-consumers and the less capital availed to implement the expansion programme. Towards its end, this study advises on the importance of addressing both the needs of the particular institutions and its business partners when choosing or customizing a particular management model.
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