Since Toyota is one of the few auto companies with focus on environment-friendly products, it should continue this practice in the future too. Not only is this ethically sound, but will also boost the bottom line due to the sustainability advantage. The success of such eco-friendly models as RAV4 EV and Prius should inspire the company to keep up the ethic. It should also continue its hybrid gasoline-electric cars, of which it has already sold more than 2 million units. The future orientation should also be toward enhancing value-added features like automatic parking, four-speed automatic power and economy shifting, eight-speed auto transmission, etc. These features will further improve the user experience.
In the wake of the ongoing global economic slowdown, some Toyota manufacturing plants in Europe witnessed labor unrest. Unless the economic situation turns around, such tension between workers and management are bound to crop up. Hence Toyota management would hope to move beyond these temporary setbacks and resume its march toward greater excellence. In recent years, Toyota has also been hit by some crises within the sector such as product recalls, production disruptions, supply-chain inefficiency, labour disputes, and perennial competitive pressures. Despite these onerous concerns, Toyota has maintained product superiority and consumer loyalty to its brand, though.
References:
A Cortez, M. A., & Penacerrada, N. T. (2010). Is It Beneficial to Incur Environmental Cost? a Case Study of Toyota Motors Corporation, Japan. Journal of International Business Research, 9(2), 113+.
Goland, A. R., Hall, J., & Clifford, D. A. (1998). First National Toyota. The McKinsey Quarterly, (4), 58.
Liker, J. (2004). The Toyota Way: 14 Management Principles from the World’s Greatest Manufacturer.
Piotrowski, C., & Guyette, R. W. (2010). Toyota Recall Crisis: Public Attitudes on Leadership and Ethics. Organization Development Journal, 28(2), 89+.
Price, J. (1997). Japan Works: Power and Paradox in Postwar Industrial Relations. Ithaca, NY: Cornell University Press.