Business
Toyota Company It is located in Toyota City in Japan and has more than 170 locations around the world. It operates a business is for profit making. The company manufactures its vehicles and auto spares to sell them for profit. Thus, the company does not focus on giving humanitarian services.
Rowland (2015) reveals that Toyota Company focuses on promoting the welfare of the society through the provision of automobiles. Besides, it strives to give its customers the best quality products and services. So far, the company’s action clearly indicates that it is in line with its mission. It provides valuable products and services to its customers not to mention its social responsibility extend to the community around where it operates.
Major events
Back in the 1980s, the company was awarded a quality control award in Japan. This event was the turning point for the company since it expanded its production motorsports vehicles. During the same period, the company merged with Toyota Motor Sales and went into various joint mergers. Such a move played a great role in promoting its growth. Besides, in the 1990s the company expanded its motor vehicle production. It entered more other lines of motor manufacturing as well as establishing new locations such as the UK, Virginia and Indiana among many others. Finally, Toyota Company suffered a blow in the 2010s after it got various natural calamities. For instance, the company experienced a severe earthquake, and tsunami in 2011that decreased its production hence the exports (Allen & Sturcke, 2011).
Capitalism on the four basic rights
Private property rights
Toyota focuses on the provision of products and services to the market that it has manufactured. It is committed to providing products and services that are original.
Choice
The company choices are subject to the regulatory framework, existing competition and the preferences of its customers on the change in the working environment.
Ownership
The company complies with patent and copyright rights provided by the nations in which the company has bases.
Competition
Toyota Company focuses and encourages fair competition with the other vehicle manufacturers in the world. It strives not to bend both advertisement and competition business laws as provided by the nations it operates.
Toyota form of economic environment
Toyota Corporation operates in an oligopoly competition. The company is in a market structure with few big producers such as Honda, Nissan, Subaru, Ford and Mitsubishi among many others.
Government role in business operation
The government role in the business operation of the corporation is to ensure that the company complies with various statutory provisions that affect the company. For instance, the government is ever in the forefront of providing licensing for the business. Also, the government is keen on ensuring that the company produces engines that are environmentally clean. Besides, the government is also committed to ensuring that the company complies with the taxation laws. Furthermore, the government ensures that the company adheres to business laws such as competition, advertisement and safety laws.
Legal form of Toyota
Toyota Company has been subject to various lawsuits that affect its operations. An outstanding example is vehicle defects. The advantage is that it helps the company comply with the set business rules. Besides, it impels the company to offer better services to its customers and ensure a safe environment. However, this legal form is costly for the company since the lawsuits involve penalties that increase the company’s expenditure thus lowering its profitability.
Corporate citizenship and responsibility of business in society
As part of going green, Toyota Company has partnered with the community forming a Toyota Together Green which works in ensuring the conservation of natural resources, ensuring clean water in the coast and protecting the wildlife (Rowland, 2015).
On the other hand, the company practices various social responsibility initiatives. According to Rowland (2015), the company offers valuable products and services to its customers at an affordable life. Besides, the company strives to promote job security, favorable hiring practices and development of its employees. Such responsibilities help in ensuring that its customers receive quality services from the company’s employees who are motivated. Also, it ensures increased customer satisfaction due to better products and services.
For a company to go green there is a money implication involved. It may not be an expensive venture, but some money is important to facilitate the project development. Toyota can adopt the manufacture of hybrid vehicles that do not emit harmful gases into the environment. For Toyota to determine the best green initiative there is a great need to analyze the current status of the company and focus on address any environment issue.
Five critical thinking steps
Problem identification
Environmental pollution is an issue that Toyota Company is suffering today.
Information
Many of the Toyota Company vehicles like those of other companies release a lot of carbon gases to the atmosphere which is a threat to the environment.
Evidence evaluation
Emission of harmful gases by Toyota Company vehicles is an observation from different locations of the world where the company vehicles operate.
Alternatives
There is a need to come up with hybrid engines vehicles, or the company needs also to change the fuel used by the vehicles.
Best alternative
Toyota Corporation needs to focus on making hybrid engine vehicles that will not emit many gases to the atmosphere.
Options and anticipated consequences
The move by the company to adopt hybrid engine vehicles will force the company to carry out several types of research. Besides, the company will need to adopt safe fuels that would work with the need vehicle models. Consequently, the company will have to incur a lot of expenses in its research work. Besides, coming up with the new vehicle model is also an expensive venture for the company. This is to mean that the company’s profits may be affected if this change is adopted.
References
Allen, K & Sturcke, J (2011, February 23). Timeline: Toyota's recall woes. The Guardian. Retrieved from http://www.theguardian.com/business/2010/jan/29/timeline-toyota-recall- accelerator-pedal
Rowland, C. (2015, September 24). Toyota’s Stakeholders: A CSR Analysis. Panmore Institute. Retrieved from http://panmore.com/toyota-stakeholders-csr-analysis.
