Toyota International Corporation Research Paper Example | Topics and Well Written Essays - 750 words

Toyota International Corporation - Research Paper ExampleThe reason behind their advantage is the deployment of strategic planning throughout the years since 1937. They focus on a more than efficient homosexual resource by understanding the individuals who possess several unique capabilities. Toyota is head quartered in Japan and operates 75 manufacturing companies in 28 countries around the world (Toyota in the world, 2010). Toyota has set up its food market in more than 170 countries with a 320,000-strong workforce. The follow was founded by Kiichiro Toyoda by renovating his father automobile manufacturing company Toyota Industries. The company operates its line of work at its full swing starting from Japan and throughout North America, The Caribbean, Latin America, Europe, Africa, Asia, and Oceania. The annual deal of the company shows that even though there is a slight decrease in the production, the company allow manage to survive the declining economy with the expected sales turnover. 2. Types of market and legal systems Toyota formulates marketing strategies based on the social, environmental, and economical conditions of each voice where the company operates its business. The legal system of the particular country or region is also taken into consideration before implementing marketing policies in the specific country. In 2004, as Gale (n.d.) points out, Toyota in Europe was in a quandary as new environmental friendly vehicles were in game demand when the administration implemented environmental regulations it was necessary to train the staff with the new technologies of the advanced vehicles. The company integrated the three important elements marketing, sales, and manufacturing to overcome the problem in Europe. The marketing strategies in China and US were seen successful in 2005 when profits rose up against the worldwide automobile industry trends. When entering into the market of another country, almost all companies are faced with the f inancial risk of exchange rate variances cod to interference of the legal and governmental systems. The legal proceeding of the foreign markets must be clearly analyse before investing in that market. Toyota is noted well for its management in the international markets. The company procured a considerable market in the unite States by initially bringing inexpensive vehicles. Later on, it widened the markets and spread out its share in the U.S. automobile market. To overcome the market issue of dollar exchange rates, Toyota introduced manufacturing facilities in the United States. 3. Political Risk One of the major political risks that the Toyota motors faced was the backlash against Ameri backside corporations. It imposes increased parameters on different production levels and on nationalization of its products. This change can influence the operations of the company. The political changes can positively and negatively affect the firm. By the end of 2006, Toyota manufactured 1. 5 million cars in North America, and had to import an additional 1.2 million cars (Toyota). While being costly, the high reliance on imports poses political risks in the United States. Managing political risk in the international market is not an easy task. While the political changes contribute direct risks to the firm, the politics also constitutes other external risks. In order to overcome these kinds of executable political risks, Toyota can set up strong relations with various trade organizations. At the same time, the political consultant must make sure that the firm builds up a strong kind with the governments also. In