G Research Paper Example | Topics and Well Written Essays - 3000 words

G - Research Paper Example Its first product was the Toyota AA and ever since, it has grown and incorporated other brands in its production. Such brands include Scion, Ranz, Lexus, as well as Hino. The company has also invested heavily in other automobile industry such as Isuzu, Daihatsu, Tesla, Sichuan FAW Toyota, and Fuji Corporation. Toyota Corporation was first incepted in the year 1933. During this year, the corporation was a subsidiary of the Toyoda Automatic Corporation. The Toyoda Corporation was run by Toyoda Kiichiro. The company’s first automobiles were the A1 and G1 that were manufactured in 1935. It was after the first production of the Automobiles that Toyota Corporation moved to establish an independent company that would allow total control of the production activities of its automobiles. This establishment took place in the year 1937 under the leadership of Toyoda Kiichiro. During this time, the immediate competitors of the company were Ford and GM motors. However, in order to provide an incentive to the customers and boost sales, the company decided to sell its automobiles at a cheaper price than its immediate competitors. The sale price of the model AA was only 3,350 yens. Ford sold their first car at a more expensive price that involved paying 400 yens more. Since then, Toyota Corporation has established more than one hundred subsidiaries. The company recognizes five principles. They include teamwork, kaizen, challenge, respect, and ‘go and see’. The company has general guidelines called the ‘Toyota Way 2001’ that lay out various policies and guidelines in which every employee in the organization ought to follow. Liker (21) suggests that Toyota Corporation focuses its efforts more on addressing the importance as well as the positive experiences of owning private quality vehicles. Its mission is to provide high quality and affordable automobiles on a global scale. In its corporate strategy to mitigate risks, Toyota has always been upfront