Toyota firm

Toyota firm

Toyota firm is the largest automotive company internationally that was developed in 1937 by Kiichiro Toyoda. The company has its headquarters in Toyota, Japan. The first export of Toyota passenger vehicles was made in 1957 in the U.S (Seo, 2011). Toyota Company involves in the production and sale of cars globally. Currently, Toyota does its ventures globally with manufacturing firms being 53 in 28 nations and regions. Toyota’s cars are traded in more than 170 nations and regions. Toyota Company functions via various sectors which include Automotive and financial services. The automotive sector plans produce, joins and sells motor vehicles, trucks and vehicle accessories. Additionally, it engages in the manufacturing of intelligent transport structures (Seo, 2011). The financial segment finances and provides purchase of Toyota passenger cars to dealers as well as clients. Toyota has other sectors as well which deal with telecommunications, design and manufacturing.

Toyota Corporation’s corporate social responsibility strategies conceal a broad array of interests among the stakeholders. In 2005, Toyota declared a contribution toward sustainable growth as guiding standards at the firm that considers the company’s affiliation with stakeholders. The stakeholders impact the brand image of Toyota, its monetary consistency and the human resource competence. Toyota concedes the significance of the stakeholders and as a result, the company upholds CSR responsibility measures that focus on the welfare of the stakeholders (Werther Jr, & Chandler, 2010). Toyota continues to be the outstanding entity regarding CSR programs that reassures pertinent interests of stakeholders as it still stresses on the business strength in the automobile industry. Toyota tasks the initiative to contribute to the sustainable enhancement of the community via all business ventures that they perform in various nations. The company adheres to all the rules and regulations and it believes interacting with its stakeholders is important as it creates effective affiliation through open communication.

Second point

The environment

Toyota is dedicated to playing a part in a harmonious and sustainable enhancement of society and global via all ventures that it performs in a lot of nations. Toyota upholds and is involved in activities that add to the fortification of the community including loans offered for environmental activities, education and conservation of the environment (Werther Jr, & Chandler, 2010). Toyota operates its CSR efforts in India with respect to the ISO 26000 standards and requirements. Toyota aims for development that is in agreement with the environment by seeking to reduce the environmental influence of its business processes like working to minimize the impact of their cars and dealing on climate alteration and biodiversity. Toyota attempts to create, and enhance technologies that facilitate the environment and monetary system and to develop close affiliations with a broad range of people and firms involves in environmental preservation (Werther Jr, & Chandler, 2010).

Toyota has a good practice in its CSR with respect to the ISO 26000 standards. Toyota’s CSR endeavours are thorough in tackling all of its significant stakeholder groups. Distinct initiatives are included in this attempt to directly target the client’s interests in the automotive venture. Toyota’s stakeholders include workers, clients, investors and communities (Peloza & Shang, 2011). The company deems the staffs as their main essential stakeholders. Toyota addressed their interests through satisfactory wages and development of career for advancing the workers. Customers, on the other hand, are considered to be critical since their interests are of high-quality service with reasonable charging on automobile products (Peloza & Shang, 2011). The company addresses the client’s interest via innovation which aspires to maximize quality.

Investors are other main Toyota stakeholders and they are always interested in the profitability in the venture. Toyota tackles these interests by stressing on the international capabilities of the business. Communities, on the other hand, are concerned about their socioeconomic growth (Peloza & Shang, 2011). The company, therefore, use support programs to address their interest. For instance, Toyota has an an education outreach agendas to enhance literacy. Besides, the company operates with other entities to sustain community growth.

Recommendation of a good practice

In the CSR, Toyota should focus on elevated pollution in urban India. Besides a high profile of accidents by automobile has been a witness and thus automotive safety should be considered. The mindset of a consumer revolves across three areas which include automotive, road and environmental safety. The company should, therefore, ensure that vehicles driven by consumers are safe and cannot crash easily and in case of an accident the airbags will open on time. Besides, on road safety, Toyota should prevent unsafe road conduct by offering drivers training and constant education. Also, customers are always ready to play a part in the environment in various ways as they are health conscious. Toyota should help in the optimization of energy by manufacturing cars that use renewable energy as a key sustainability initiative.