TOYOTA MOTOR CORPORATION

Toyota Motor Corporation is the third largest producer of automobile and related vehicles in the world, following General Motors and Ford. The Corporation operates thirty-eight production or assembly plants in twenty-five countries worldwide. In fiscal year 1994, Toyota sold 4,130,846 vehicles worldwide, of which 3,293,550 were passenger cars, and 837,296 were trucks or buses. Of these total vehicles, 2,120,716, or 51.3 percent of the total, were sold outside of Japan. It should be noted that a combination of a strong yen and an economic downturn in Japan caused a significant decline in FY 1994 production as compared to the previous year; the reduced production amounted to 6.9 percent in Japan and 8.1 percent overseas.

The ultimate mission of Toyota Motor Corporation is defined in terms of its statement of vision: "Toyota is a company devoted to enhancing the quality of life for people around the world by providing useful and appealing products."

Within that overall philosophical framework, the mission of Toyota can be characterized as becoming the world's leading vehicle manufacturer. "Leading" here should be understood as signifying not simply a transient leadership in production and sales volume, but a broader conception of Toyota as the standard-setter in the industry, setting benchmarks of product quality and production efficiency which others will seek to emulate.

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marks." The overall growth rate of this market is more rapid than that of cars. Toyota's position in that market is neither so strong as to identify trucks and buses as a future star, nor so weak as to render them questionable. Another analytical tool, the McKinsey Matrix Model, measures the overall attractiveness of an industry on one axis, and the competitive position of a firm on the other: Competitive Position Good Medium Poor High Industry Attractiveness Medium Cars Trucks / Buses Low As indicated, the motor vehicle industry is regarded as medium in industry attractiveness; it is a mature industry with solid, but not spectacular growth potential. Within the industry, Toyota is a very strong competitor in cars, but at this time only an intermediate competitor in trucks and buses. Finally, the Stage of Industry Development model seeks to identify the general position of an industry in an evolutionary sequence that is seen as running as follows: Embryonic -> Emerging -> Shakeout -> Mature -> Declining In this model, the motor vehicle industry is regarded as mature; it is long-established, with major competitors having relatively well-defined positions within it. The potential for dramatic growth by
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Approximate Pages = 15 (250 words per page)

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